Useful Tips on Letting Your property

Re: Some Useful Tips on Letting Your Property- Don’t let your property without reading this first

1. Use a regulated agent- Check that they are a member of a recognised industry body. They should be a member of at least one of the following Association of Residential Letting Agents (ARLA), the National Association of Estate Agents (NAEA)or the Royal Institution of Chartered Surveyors (RICS).

2. Tenant Deposit Scheme- ensure that they are a member of a Tenant Deposit Scheme to register the tenants deposit

3. Client Money Protection- Ensure that your agent has Client Money Protection insurance- if they do not and they go bust you will be liable for the tenants deposit and will have little chance of recovering it from the agent. Agents who are members of the NAEA and ARLA have to have this in place

4. Tenant Reference Procedure- The failure of some letting agents to properly vet tenants can lead to disputes over deposits to cover any damage caused and sometimes legal costs as the landlord attempts to recoup any losses . Ensure that the procedure the agent follows includes the following-
Authentication -
Adverse Data -
Fraud Check –
Tenancy Score -
Income reference -
Landlord reference-
Photo Identification and utility bill at current address

5. Tenancy Agreement- Ensure the tenancy agreement drawn up is an ARLA approved one

6. Legal Obligations- Ensure that you are aware of all the up to date legal obligations of letting your property
If you would require advice or further information on this or other aspect of letting your property please do not hesitate to contact me on 0208 853 0465 or email simon@destinations-london.com