Landlords Guide To Property Letting
Preparation is the key
The Thanet lettings market is a lucrative one for landlords but is also fiercely competitive, so you certainly need to get the best advice before you put your property on the market to let. It is best to choose a letting agent who really knows their area, the tenants and the market conditions so they can help you achieve the maximum rent for your property and keep the void periods to a minimum.
A lettings agent who knows their area well will be able to tell you exactly what tenants expectations are and at Cooke & Co we know and understand the lettings market better than anyone else as we have been letting Thanet homes since 1992.
At Cooke & Co Lettings we feel that first impressions are key, so during the marketing and viewing period you need to present the property in the best way possible. It is imperative that you make sure that both the exterior and the interior of your property are in good order. It is best to choose neutral paint for the interior and ensure bathrooms and kitchens are as modern as possible.
Garden areas are important. It is best to de-clutter the garden, cut the grass and weed the flower beds. If you have a courtyard make sure it is jet washed and clean. Think of it as another room that the tenants will really enjoy.
It is also important to maintain your property before and during a tenancy. Pipework, grouting, sealants and tiles should all be checked regularly so that repairs can be done before the problem escalates into a major flood.
Finding a tenant
Market knowledge is key and we have gathered this over many years. We act quickly to changes in the market and we keep a list of suitable tenants to rent properties as soon as they are placed with us. At Cooke & Co we are pleased to deal with major companies, schools and hospitals to provide accommodation for their staff. They come to us time and time again for the very best properties and the best all round service.
Who are the best tenants?
The best tenants may not always be the one offering the highest rent, we know that void periods are expensive but a bad tenant will cost you much more! Choose a good tenant who can move in quickly, is keen to stay a long time and who will take care of your property. It is important to know tenants well and at Cooke & Co we vigilantly reference check our tenants. If you don't carefully reference you end up with a tenant in the property not paying rent, causing damage and then face a large bill for eviction. Some agents just look at the numbers let and don't care who they put into properties as long as they get paid. We don't.
We have found that there are many different approaches to marketing but at Cooke & Co we feel that the marketing should happen immediately and show the property in the best light possible. Initially, an EPC and photographs should be organised and property particulars drawn up. At Cooke & Co we will email these straight away to all prospective tenants who have registered with us and call them to let them know the good news. On our managed properties we can also work with other local agents to assist in the finding of tenants which we then reference, sign up and manage for your peace of mind.
Our advertising and marketing strategy is tried, tested and extensive including marketing online and offline, locally and nationally and we build a package for each individual situation. We would be pleased to discuss this with you in person if would like us to let your property.
We have covered this in its own important section on this website. At Cooke & Co we understand the importance of protecting our landlords but making sure tenants are safe to enjoy their home.
Protecting your property and your income
As well as protecting your tenant, you must protect your property, not just with buildings insurance but landlords contents insurance as well. Specialist landlord insurance is available and we can organise this for you through our preferred providers
Permission to Rent
You may also need written permission from the freeholder or mortgage lender if your property is held on a lease or subject to a mortgage. You must ensure that your insurance provider knows that you are letting the property as it is important to have the correct policy in place.
Tax in the United Kingdom
Landlords are taxed on their rental income, but if you find a good accountant, they can often help you minimise your annual tax bill. We are happy to work with your accountant so that relevant costs can be offset against your tax bill, including safety inspections, our fees, insurance costs and inventory fees. It is essential that you to keep a note of everything you spend on your rental property.
At Cooke & Co we use the most up-to-date computer accounting systems so that our records are held accurately and sent to you efficiently. These systems ensure that rent monies are collected and paid to you without delay. At Cooke & Co we understand that your funds must be remitted to you immediately and as we have a non interest bearing client account there is no advantage for us to hold on to your rent.
Why do landlords choose us?
Many of our landlords choose to appoint Cooke & Co’s letting team to take over the managing of their rental property. With a 24-hour on-call maintenance team chosen from a comprehensive list of trusted professional contractors, we resolve problems quickly and effectively so that tenants remain happy and landlords can enjoy total peace of mind.
Let's be friends
Our aim is to foster good relationships with our tenants and landlords so that disputes are avoided and properties are looked after respectfully and properly.
The best staff give the best advice
We have found that the best staff, give the best advice. Within the letting industry we are well thought of and we pride ourselves in having an excellent reputation. Damien Cooke MNAEA ARLA is the business owner and manager and looks after the experienced lettings team.
Please contact us today whether you are a first time
landlord or an experience portfolio landlord as we would love to help you rent your property.