Valuation
There are many agents in the market all trying to encourage you to instruct them, as they have tenants on the books specifically for your property. In the ever-evolving Lettings industry, we’re in today, it has never been more important to instruct the right agent.
The process all starts with the appraisal. This is the most crucial time to qualify your agent to ensure you and the agent are the right fit.
There are many questions to ask an agent, and some may be specific to you.
Below are some pertinent questions to ask on a valuation:
With comparable Lets in the area, how much can my property achieve per month?
This will be a chance for the agent to present recently rented properties like yours, as guidance towards your recommended asking price. It’s important to take caution to higher valuations as this could be a strategy to secure your business, only for the agent to suggest a price reduction moments later.
From the moment I instruct you to when the tenant vacates, who will be my main point of contact?
We find most landlords have a full-time job alongside their buy-to-let portfolio. It’s important to establish a main point of contact so you can agree on how you would like to be contacted whilst also ensuring you have a direct line to your agent/property manager.
What are your fees and when are they due?
The agent will most likely be equipped with their terms and conditions which will give them a chance to run through their charges, what they include and when the fee will be taken.
What compliance must I adhere to as a landlord?
As a landlord, many legal responsibilities must be followed. Failure in doing so will result in penalties and fines. Learning about these at the point of valuation gives you plenty of time to be fully compliant before a tenant moves in.
What if my tenant doesn’t pay rent?
One of the most asked questions on a valuation and an important one. Choosing a professional and experienced agent will hopefully ensure that you never end up in this situation. On the other hand, with your most expensive asset, being protected against the worst-case scenario is essential. Asking this question will give the agent the opportunity to run through the referencing procedures they take on prospective tenants and what protection is available if the unforeseeable happens.
How many estate agents should I instruct?
There's a common misconception among landlords that engaging multiple agents expedites the letting process. We feel opting for a single agent, known as a 'sole agency,' avoids overexposure in the market, enhancing the likelihood of securing a better price and tenant in the long run.
What differentiates you from your competitors?
The agent will bring information about their business to the appointment, detailing their unique selling points and how their service differs from the competition. For us, our business works for landlords who are looking for a more personal approach. We look to build long-term relationships with landlords by being an agent who is integral, knowledgeable, and focused on delivering exceptional service to achieve the best result.
Instruction
Upon signing the terms of business and providing identification documents we will prepare your property for market instantly with photography and video tour.
Viewings
Prior to any viewing we rigorously assess and qualify tenants to align with the property specifications. All viewings will be diligently conducted by PWD.
Receiving an offer
Your agent will pre-qualify all details of the offer and then provide it to you with all the necessary information on the tenants but most importantly our advice on the best way forward.
Paperwork
Our referencing partner will complete independent reports on the tenant(s) and your agent will collect moving in money, conclude the signing of the tenancy agreement with any agreed additional clauses, set- up the standing order and carry out the right to rent checks.
Move day
The new tenants will receive a move-in pack from PWD or the independent check-in clerk containing the keys, prescribed information and contact details for the managing agent or landlord.