Letting process for properties in East London, South East London & North Kent


1Rental valuation

When you choose to let your property in East London, South East London & North Kent, your valuation and marketing appraisal is an essential step in renting your investment, as is the property's value. One of our experienced valuers will assess the property whilst factoring in your needs and desired timescales. Rental values are affected by many variables. Our advice factors in the location, the number of bedrooms, recently let properties, the property's condition and the current local rental demand.

2Property management

Looking after a rented property is logistically more straightforward when you have responsible tenants and live locally. However, should anything go wrong, from a boiler breaking down to a water leak, it can become stressful and is why you should consider a property management service. Our experienced Property Managers will manage the day to day demands of your tenants, ensuring your property investment is well maintained and that your tenants abide by their tenancy obligations.

We will also ensure that you adhere to over 125 pieces of Landlord legislation, and for additional peace of mind, an experienced Property Assessor will carry out regular property inspections. These inspections are prevention minded and can reveal issues of required property maintenance, amongst other items. They also present an opportunity that could highlight changes impacting tenancy obligations. Or highlight issues before they become a more significant, potentially more costly problem. We are proud of our extensive industry knowledge, and we will always act in your best interests.

3Preparing your property for a tenancy

An initial decision to make is whether to let your property as furnished or unfurnished. Furnished properties will give a better visual impression to the prospective tenants of how the property will look, making them more likely to rent quickly. Should you opt to market an unfurnished property, as a minimum, we highly recommend that you provide white goods (washing machine, cooker, fridge/freezer). Offering flexibility is vital as a landlord and will broaden the property's appeal to prospective tenants as individual requirements vary.

4Marketing your property

We provide maximum marketing exposure across various media channels, internet directories and property portals. Physically, our modern high street offices are strategically positioned in high profile locations and staffed with experienced teams ready to match suitable tenants. Digitally, our website is an interactive resource with excellent functionality for both Landlords and Tenants. New properties are immediately uploaded and circulated, alerting matched tenants by SMS and email. In addition, our website feeds the major property portals, further exposing the property to the market.

Our experienced Property Consultants personally match properties with their actively registered tenants, and there is often an instant response to new property listings. Even in today's technology-led society, many of the tenants and landlords we encounter prefer in-person communication from a property professional. Our CRM has an extensive existing database of prospective tenants. There are frequently tenancies generated very quickly from this pool of tenants.

Another effective marketing tool to utilise is one of our distinctive To Let boards. This highly effective advertising method has always generated quality enquiries and is a great visual reference for local tenants. The wider we expose your property to the market, the better opportunity to reach the largest selection of tenants, which ultimately maximises interest and offers.

5Receiving an offer

Once we receive an offer for your property, we will present you with that news and detailed information regarding the potential tenants. Additionally, we check their situation, employment status and details of who intends to move in, and the fixed tenancy term.

6Offer agreed

When you accept a suitable offer, you will receive formal written confirmation outlining the details of the proposed tenancy. Tenants then provide Alex Neil with their Right to Rent documentation. In addition, we check and copy photographic IDs and submit them with their referencing information to an independent tenant reference provider.

7References checked

All tenants will undergo thorough background checks. We use an independent reputable referencing company to confirm suitability and creditworthiness, including their payment history on any previous lending and any adverse credit like CCJs or bankruptcies. Their identity is also verified, as is their right to live and work in the UK. In addition, we cover the Right to Rent checks, including whether they are subject to any immigration control. Finally, we will seek a previous landlord's reference if they have previously rented properties. The information provided, including credit reference agencies, is compiled into a final credit score report.

8Tenancy agreement & move in monies

Once all referencing is completed and deemed satisfactory, we will draft the Assured Shorthold Tenancy (AST) agreement for all parties to sign. We then ask the tenants to pay their first month's rent and security deposit. All deposits will be protected in a Government approved deposit scheme.

9Tenancy commencement

Our Tenancy administration team will contact all parties to make suitable arrangements 24 hours before the tenancy commencement. If you have opted for our Fully Managed service, an inventory Clerk will meet the tenants at the property to conduct the check-in process. We organise utility meter readings and photograph the property keys before handing them to the new Tenants. We will also retain a set of keys at our offices.

10Charges

Introduction Tenancy Fee 12% inc. VAT (10% + VAT) minimum charge £1,800.00 inc. VAT (£1,500.00 + VAT)
Full Management Fee 7.2% Inc. VAT (6% + VAT)
Tenancy Administration Fee £360.00 inc. VAT (£300.00 + VAT)
Renewal Tenancy Fee 9.6% Inc. VAT (8% + VAT)
Additional Property Inspection Fee per Visit (if required) £180.00 Inc. VAT (£150.00 + VAT)
Interest will be charged for late payment of fees 9.6% Inc. VAT (8% + VAT)

Alex Neil are members of CMP (Client Money Protect), a client money protection scheme.
Alex Neil are members of DPS (Deposit Protection Service), a deposit protection scheme.
Alex Neil are members of The Property Ombudsman. Membership number: N00018

Fees

Tenant Information

Refundable Holding deposit - 1 weeks rent

Security Deposit 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - £50 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs

Utilities, council tax, communication services, TV Licence etc Tenants own responsibility unless otherwise stated

Client Money Protection Scheme Membership details Alex Neil are members of CMP (client money protect)

Property Redress Scheme Membership details: Alex Neil are members of The Property Ombudsman. Membership number N00018.