Letting out a property without estate agents

The following steps describe a way of advertising and letting out a property whilst avoiding any estate agents fees. This is a method I used myself when I had a house I needed to let out.

  1. Advertising

When advertising the most important thing is to get the property on Rightmove (aim to list 6-7 weeks before the property becomes available). High street estate agents  wanted circa £500 to photograph/advertise/find tenants and even some online agents such as Purplebricks wanted a similar amount. Then I discovered a company called Openrent key features are as follows:

  • you create the advert, easy if you have photos ready if not a few panoramic photos on a mobile phone work well, for the description try searching online to see if you can re-use wording from property nearby which has been advertised in the past.  Once created this appears on Rightmove
  • potential tenants contact you directly through a easy to use messaging service on the Openrent site
  • you conduct viewings, meet interested parties and decide on who you’d like to accept
  • you achieve an enormous saving on advertising compared to alternatives, Openrent are currently offering a free trial if you sign up through our referral link but the usual price is only £29 for 3 months

2. Referencing

Once you have chosen your preferred tenant before signing contract paperwork it is worth completing referencing. This is available through Openrent at a cost of £20/tenant which I feel is good value for money given the thoroughness of the checks completed:

 

3.  Other items to consider (not an exhaustive list)

  • Contract- draft short hold tenancy agreements can be found online or bought from Openrent 
  • Deposit protection- after taking a deposit it is important that this is registered with a government scheme within 28days – I used the  Deposit Protection Scheme
  • Inventory- I generated a simple document attached detailing start of tenancy meter readings, keys, property condition Inventory template
  • Gas safe certificate- it is mandatory when letting a property that the gas safe certificate remains valid, this needs to be renewed every 12months, this is best completed at the same time as boiler servicing

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