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If you’re just starting to rent, you’ve probably seen properties that are already rented. Maybe you’ve already found the house you want and signed a contract, but on the agency’s website, it still says “let agreed.” So, what does it mean when a house is agreed to be rented? Is it a contract that holds up in court, and why do landlords use it? Here, we look into the term and tell people who want to rent what it means.

Let Agreed Explained

When a property is under let agreed designation, it means that an offer has been made and the landlord or estate agent has agreed to it in principle. But the landlord or property management company must first do tenancy checks before the deal can be finalised. These steps are taken to make sure that the potential tenant can rent the property and has enough money to pay the rent.

There are credit checks, references from previous landlords, and checks to make sure the person has the right to rent. If, for example, the tenant’s credit isn’t good, the landlord might ask for six months of rent up front.

The Difference Between Let Agreed And Let

So, as we’ve already said, “let agreed” means that the landlord basically agrees to the offer made by the possible tenant. The landlord won’t sign the official tenancy contract, which would let the potential tenants move in, until the checks are done.

So, there is a chance that a property that has been agreed to be rented could fall through and become open to other people who want to rent it. Before signing the final contract, it’s a good idea to do as many checks as possible and make sure it’s the right property. Both the landlord and the applicant can back out of the deal at this point.

When a property is rented, on the other hand, both the landlord and the person who wants to rent it have agreed to the terms of the rental contract. At this point, all of the checks have been done, and the landlord is satisfied that the new tenants are a good fit and have enough money to pay the rent.

Can You Still View An Agreed Property?

You could still look at a house that’s under let agreed status in theory. Depending on how strong the applicant is, though, most letting agents won’t bother with showings until the deal falls through.

Most of the time, they will set up a time for you to see the place after the lease should have been signed. If the let agreed status drops before then, you would be the first person to see the property and could make an offer. So, if you’re interested in a let-agreed home, it’s always a good idea to ask about it, since there’s a chance you could still get it.

Here’s a question: how important is it for landlords to use an agency? What do they get out of it?

If you’ve ever tried to manage your own properties, you know how stressful it can be. Having a good local letting agent take care of things like contracts, credit checks, inventories, and all the legal issues that come with renting is a big help.

In the last few years, the private lettings market has grown a lot. This makes it more important than ever for landlords to not only find the right local letting agent, but also know what services they can provide. And getting along well with your agent is important if you want to get the most for your money.

Why Do I Need A Local Letting Agent?

The goal of a good local letting agent should be to make renting a home as easy as possible so that both landlords and renters don’t have to worry about it.

As a self-managed landlord, it’s very important that you know about all the important laws, like the recently passed Tenant Fee Ban, deposit protection, and the Immigration Act. You should also know about health and safety issues, like making sure your gas certificates and electrical checks are up to date. If you don’t follow a law, you could be fined or even put in jail.

By hiring a letting agent to take care of your property for you, you protect yourself, your property, and your reputation. You can also rest easy knowing that they worked hard to find the right tenant and that the rent is paid on time.

And from the tenants’ point of view, they know that they are protected during their tenancy, that they know what their rights are, and that they have someone to talk to if something goes wrong. So you won’t have to answer the phone late at night when your tenant has a problem.

What Should You Look For In A Letting Agent?

You should know from the beginning what you want from your agent. Most agents offer a number of services for landlords, such as finding tenants and taking care of everything. Be aware that if you don’t pay an agent to fully manage your property, you as the landlord will be in charge of making all the necessary paperwork, like inventories and contracts, and making sure you follow all the laws and rules. If you don’t have time to learn all of the laws and rules about letting a property or don’t want the stress or responsibility of setting up regular checks for things like gas safety, electrical checks, PAT testing for appliances, etc., you might want to look for a service that will take care of all of that for you.

A fully managed service also means that the agent will take care of all the day-to-day issues, like general maintenance, complaints, and rent collection. So, if something goes wrong, your local letting agent will be the person your tenants will talk to and will be able to fix any problems on your behalf.

Once you know what level of service you want, you can start looking into letting agents in your area. If you know other landlords in the area, ask them for recommendations. You can also look for reviews online. Compare what they offer and how much they charge, and make sure they have the right memberships and money-back guarantees.

A rental property may become unoccupied at times. Whether it’s for a short period between leases or for a longer period, such as planned repairs that are simpler to complete without a tenant in place, the negative is that a vacant property is far more exposed. If there are water leaks or weather damage, it may go unseen until you visit the property again. If it’s clear that no one lives there, it might be targeted by vandals or squatters, both of which could require time and money to settle.

Here are some of our best rental property management tips for a vacant property.

If You Have A Vacant Property, Let Your Insurer Know

Many landlord insurance policies only cover a vacant property for up to 30 days, so you should talk to your insurance company as soon as you know your rental will be empty. If you don’t, and something happens that makes you need to file a claim, your policy could be cancelled.

Your insurance company will be able to tell you what you need to do to keep your policy valid. For example, they may tell you to turn off the gas and keep the heat on low during the colder months to prevent the pipes from freezing and keep the property free of mould. They can also tell you when you will need to switch to “unoccupied property insurance.” This may cost a little more, but if it gives you peace of mind that you’re safe, it’s well worth it.

Make Regular Security Checks

Your landlord insurance provider will probably want you to check on the property often while it’s empty, usually once a week, to make sure it’s still safe and in good shape.

So, when you get there, make sure all the doors and windows are locked and there are no signs that someone tried to get in. Check each room to make sure there’s no damp from the outside or a leak inside, and open the windows for a while to let the air circulate so the house doesn’t get stuffy (remembering to close them again properly before you leave).

If you can, put a couple of lamps inside on timers so they turn on and off at different times. If you don’t already have one, it’s also a good idea to install an outside motion sensor light on the exterior of your vacant property. Burglars and vandals don’t like it when it’s bright!

Make Sure The Vacant Property Is Clean

If the property is empty because it is between tenants, you might want to have a deep clean done by a professional to get rid of any surface mould, make sure all your fixtures shine, and give the property a new look and feel for viewings.

When tenants leave trash behind, it’s important to get rid of it as soon as possible so it doesn’t attract illegal dumpers or become a fire hazard.

There has been a lot of activity in the housing market recently. Selling a property fast has proven to be a simple process. If the housing market does slow down, what would be the consequences? In a sluggish market, how can you get your house sold fast and for the best price? Read on to find out how to sell your home in a slow housing market. 

Get It Sale Ready

In a hot market, buyers may not care what your property looks like since they are so eager to purchase. As long as there is nothing wrong with the property that may deter purchasers and hold down the sale, it’s OK to sell as is. Yet this is not the same in a slow housing market. 

Taking a serious look at your home is the first step. Keep in mind how it appears from the road. The roof could need a little TLC. Is it in need of a fresh coat of paint? Is the garden too weedy for you? Are there any rooms in your home that might need a facelift? Is the flooring dirty or worn? If your home is for sale, consider whether or not the kitchen or bathroom may need some attention.

Despite the fact that this may need a significant investment in preparing your property for the market, it could be worth it in the long run.

Present The House Well In A Slow Housing Market

Along with repairs, display your home so that it seems to be a pleasant place to live.

When selling a home, one of the most common pieces of advice is to declutter. Decluttering can assist in depersonalising your property so that potential purchasers might see themselves living there. It might also make it seem bigger.

Make sure your house is clean and fresh, and that it smells clean and fresh as well. You may even consider smartly staging your property to make it more desirable in a slow housing market.

Sell At The Right Time Of Year

When the real estate market is sluggish, it’s better to sell at the correct time of year, if possible. The months of March, April, May, and June are ideal for selling, followed by September. Avoid selling during the summer holiday season or the run-up to Christmas, when the slow housing market gets even slower.

Price Your Home Correctly In A Slow Housing Market

In the process of selling a home, it’s important to price it right. But in a cool market, it’s critical to price your home right. The first few days after a property is put on the market tend to be the most popular time for potential buyers. Make sure that your original asking price is appealing to potential purchasers.

There’s a fine line between overpricing and underpricing. You should avoid setting your asking price too high while the market is sluggish, though. Even if you lower the price later, you may not attract any attention if the price is too high.

If you want to get the best price in a sluggish market, ask multiple real estate agents for a price estimate.

When it comes to presenting their property to the market, landlords who opt to lease their housing furnished must make some significant considerations. How can you invest in trendy decor and appealing furnishings that will attract great tenants without eroding your profit margin? Let’s investigate more.

What’s The Target Market?

Tenants looking for furnished apartments are most usually young individuals or students, or corporate professionals looking for short-term rentals. These are persons who don’t (yet) have any household items that need to be accommodated, or who are searching for temporary housing away from their primary residence.

If you furnish your rental property, you will be needed to supply basic items such as beds and clothing storage, a couch or other living room furniture, a dining table and chairs, and window decorations and floor coverings throughout the property. A hob/oven and fridge are regarded as basic in the kitchen, and a washing machine is extremely desired.

Some candidates may desire to bring an item or two with them. That might be an acceptable compromise if you can be adaptable to the wishes of what seems to be a high-quality renter. However, keep in mind that you may pay extra fees for storing unnecessary furniture when your furnish your rental property.

Balancing Style And Practicality

The first rule when you furnish a rental property is to leave your own taste at the door. This is not the time to experiment with the current colour trends, nor is it the place for statement wallpaper, much alone superfluous trinkets. Choose a neutral colour palette that will appeal to a wide range of preferences, and create a smart, unified design with matching furniture – a basic style with clean lines will suit you well.

Be very cautious while saving money by acquiring mismatched second-hand things for your rental apartment. Unless you have a keen eye for interior design, old furniture is likely to disappoint you and is nearly always a waste of money.

When it comes to furniture and furnishings for rental houses, rule number two is that practicality rules supreme. Divan beds are more durable than bed frames, and if you can obtain one with storage below, that’s even better – you may need less cabinet space elsewhere. Mattresses have a lifetime of around 7 years under typical household settings, however some tenants may request a new one (or bring their own) before moving in.

Your upholstery textiles and soft furnishings must be durable, simple to clean, last a long time, and blend in. Avoid fragile textiles and bright colours that tend to stain. Many sofa and armchair collections feature detachable, washable covers that don’t need professional upholstery cleaning, which may save you a lot of money. Remember that all furniture and furnishings must be labelled with fire safety information.

Carpeting your rental property can be a costly endeavour, therefore it is critical to maximise your investment. Select a carpet that guarantees strength and longevity, can tolerate strong household usage, is stain-resistant, and is simple to maintain. Neutral mid-tones are the most effective in ‘hiding dirt.’ Nylon and polypropylene carpets are less expensive and many are bleach cleanable, but wool carpets are more expensive to install and maintain.

Maintain your rooms clutter-free, and provide crucial pieces of furniture that are in excellent condition and coordinate. Fitted shelves and cabinets may be more expensive at first, but they have a longer lifetime and are much simpler to maintain than freestanding equivalents. Remember that every item will need to be cleaned, maintained, and eventually replaced. The more goods there are, the more expensive it is to maintain them.

Don’t Take Your Eye Off The Budget

The expense of outfitting a rental apartment can quickly add up. However, if you cut too many corners, the property’s desirability will suffer, resulting in less demand and lower monthly rent. It is preferable to save money by eliminating superfluous accessories and taking advantage of special deals, interest-free financing, or cost-effective landlord furniture bundles.

Compare the cost of equipping your rental home to the recurring cleaning, repair, maintenance, and replacement costs that you will undoubtedly pay during and between leases. You should also account for your (or your agent’s) time in dealing with furnishing-related callouts. If the stove suddenly fails or the curtain rail falls from the wall, you will not only be the first to know, but you will also be expected to address the issue quickly.

The Power Of The Inventory When You Furnish Your Rental Property

Finally, make it a top priority to do a thorough inventory of the property’s items before a new tenant comes in and again before the same renter goes out. 

Depending on the duration of the rental, you may opt to visit the property more regularly – say, every three months – to identify and address any evident symptoms of damage as soon as feasible.

The inventory, also known as a Schedule of Condition, is a complete written list that covers all of the property’s contents and their condition, and can include images and videos — here’s one example. This agreement serves as the foundation for any damages for which you may be reimbursed. If any damages occur during the lease, estimates for repair or replacement, as well as information of any deductions from the tenant’s deposit, should be communicated to the tenant.

Whatever your degree of investment in equipping your rental flat, the inventory is a critical tool for resolving any fights or disputes with your tenant over property damage, safeguarding your maintenance and repair budget, and helping to maximise your profit margin.

What can a landlord do about smoking in a rented property? It’s a difficult thing to have to deal with. On one hand, it’s no secret to landlords that daily smoking is hazardous for a property’s air quality and may cause significant damage to the interior. However, a landlord’s lenient attitude toward smoking will open the door to the greatest number of potential renters, because there are still many smokers.

How Many Smokers Are There?

When it comes to smoking in a rental property, according to a recent poll, just seven percent of landlords agree to allow tenants to smoke during the tenancy, despite the fact that more than one-fifth of the population are smokers.  So, are landlords passing on a golden opportunity? Before making any hasty choices, landlords of Houses in Multiple Occupation should examine the following research, which discovered that smoking renters are not very popular with their flatmates:

Barely 19 percent of other renters indicated they would be pleased to live with smokers, 37 percent of flatmates would share housing with a smoker if they would smoke outside and 44 percent of flatmates usually would not want to share with someone who enjoyed smoking in a rented property.

Another recent poll, this one conducted by Easyroomate, found that 38 percent of private landlords would evict tenants who were detected smoking within a rented property.

Do Landlords Have A Choice If Tenants Are Smoking In A Rented Property?

In these days of the Human Rights Act, do landlords have any right to ban their tenants from smoking in their rental property. The quick answer is… yes.

It is completely feasible to include a brief phrase to ban renters from smoking in a rented property. We recommend something like this:

3.7.13 Not to smoke or let any guest or visitor to smoke tobacco or any other substance in the property, unless the landlord has provided written approval.

How To Enforce A Smoking Ban

The enforcement of this provision, on the other hand, is a concern. If the landlord is confident that a tenant was smoking without authorization, they must first acquire evidence to prove it. Simply stating that the room smelled “a little smokey” is unlikely to suffice in a court.  To evict a tenant on these grounds, a landlord must use one of the fault-based grounds for possession, such as Ground 12: The tenant has violated one or more of the provisions of the rental agreement, excluding the responsibility to pay rent. However, this is one of the reasons for possession where the court has discretion in granting a landlord a possession order.

This implies that no two cases will be the same, but more importantly, there is little chance that a ‘liberal minded’ court would toss a tenant out on the streets for having the ‘odd smoke’ in their own house. As a result, there is little prospect of a landlord obtaining possession. This means, the odds of a landlord winning while a tenant continues to pay rent are small. Is there anything more a landlord could do if a tenant keeps smoking in a rented property?

Other Approaches To Prohibit Smoking In A Rented Property

One technique to cope with any harm produced by a smoking renter is to request a premium rate. It doesn’t have to be much, maybe five percent, just enough to pay the price of redecorating. As we indicated earlier, 1 in 5 individuals still smoke, therefore being tolerant may provide a landlord an opportunity in the market, providing you don’t mind redecorating on a recurring basis.

The alternative method may be to require a larger deposit from a smoker in the expectation that if damage occurs, the landlord would be successful in withholding a portion of the renters deposit to pay the damage caused by smoking in a rented property. However, we’re sceptical that a landlord could persuade a TDS adjudicator that the damage (which, let’s face it, frequently smells worse than it appears) is a problem even where you’ve gone to the time of meticulously creating a property inventory.

The long and short of smoking renters is that although the law seems to be on the landlords’ side, enforcability is a far more difficult and unpredictable procedure. Unless landlords have a trick up their sleeves, the best solution seems to be to attempt to pick an honest non-smoking renter in the first place, or to just accept the fact that there will be smoking in a rented property.

The way we think about homeownership is changing. Buying a home used to seem like a natural step for the great majority of people, but it is now anticipated that by 2025, more than half of individuals under the age of 40 would be living in private rented housing. Renter demand in the United Kingdom is 43 percent greater than the previous five-year average.

So, what is causing this shift, will it continue, and how will it affect landlords? Is choosing to rent the new normal?

Choosing To Rent: The Advantages

One of the main reasons many people are choosing to rent is because the rental property market, which was historically plagued by rumours of unscrupulous landlords and exorbitant rates, has matured and is now viewed as a more progressive market that meets people’s requirements. Renting is seen to be desirable because:

• Unlike homeowners, you do not have to stress about property upkeep
Renting a property is simpler and faster than buying one.
• It is less expensive financially; a smaller investment is needed, monthly rent might be less than a mortgage payment, and there is no house insurance, solicitors’ fees, or stamp duty.
• Tenancy terms can be tailored to individual requirements, making it simpler to prepare for a future transfer.
• More rental market rules mean renters have more legal protection.
• There is no risk of falling into the negative equity trap.

Barriers To Home Ownership

People’s capacity to own a house has had perhaps the most significant influence on the rental market. Many people, especially the younger generation, are unable to get a foot on the housing ladder. According to some estimates, up to one-third of millennials will never purchase a house, while the other half will rent into their thirties. This isn’t solely due to the difficulties of saving for a deposit. High property prices result in higher mortgage repayments, making it more difficult to get a mortgage. Tighter lending standards also make it more difficult to obtain a mortgage. In some cases, then, it’s not that they are choosing to rent, but that they have to.

Unstable Personal Finances

The increase in property prices is exacerbated by income stagnation while the cost of living rises. Even if the funds were available to purchase a house, many people are turned off by the impression that the housing market is volatile and may trap them in a property that no longer meets their requirements.

People are changing their lifestyle choices, including more social living, for a variety of reasons, including financial concerns or a broader shift in society values. Searches for UK-based co-living rental options have increased by 4000 percent in the past four years, and the build to rent industry continues to develop, providing renters with an intriguing choice.

Prospects are high for landlords and brokers who have well-managed homes to sell and who listen to their tenants’ requirements and the market. Renting is seen as an exciting alternative to buying, with the promise to provide something more in line with how people live and work today.

Acceptance for a rental property can be time-consuming, difficult, and confusing, and many people would like to know how to make it easier with good rental property advice. In this article, we will explore the procedures used to pick a tenant and provide tips to improve your chances of success.

It’s often assumed that if you inquire first when a rental property becomes available, you’ll be more likely to be approved. This is sometimes true, but there is a procedure that must be followed in order to locate a landlord the perfect tenant. Every landlord will have different criteria and goals when it comes to renting out their home, thus being told you haven’t been successful might be for a number of reasons. Continue reading to learn more.

Sign Up With Local Letting Agents For Great Rental Property Advice

If you want to increase your chances of securing a rental property, and you want somewhere to go for reliable rental property advice, signing up with a number of local letting agents is a good idea. Not only will you be on their mailing list when new properties come up, but you’ll be able to ask as many questions as you need to – this is particularly useful for first-time renters who need some guidance.

Have The Right Budget

Make a decision on what your budget realistically is before you start looking at houses. This will keep you from being enamoured with a sparkling new kitchen and spending more than you can afford. Take into consideration the expense of travel. It’s pointless to save £100 per month by renting farther away from where you want to be if the added expense of travelling to work is £200 per month. The last thing you want to do is put your name forward for a property only to realise that it’s too expensive and have to pull out – this could make you look less reliable in the future. Only say you want to live somewhere that you really do want. Of course, life happens and sometimes you might change your mind, but the wrong budget should never be a reason for that.

Be Prepared

Prepare payslips from your employer (or accounts if self-employed) to present the landlord or agent, as well as a reference from any previous landlord. You may be required to provide information about your former residences for up to three years. Take your bank or building society account information with you so the agent or landlord can get a banker’s reference. In the eyes of landlords, not having a bank account at all is a significant disadvantage. Check your credit score at www.experian.co.uk or www.equifax.co.uk. If everything is in order, you can present it to the agent or landlord as evidence that you are reliable with money; if not, attempt to clear up any issues and errors. A good agent will check regardless, but you want to see it first.

Check The Inventory

When it comes to rental property advice, there is one thing that is crucial; check the inventory. Although this won’t determine whether you are chosen for a property or not, it’s still going to benefit you once you do move it. Many tenants ignore the inventory report or sign it without looking, and then, when they move out and an issue arises, they have no recourse for help. Read the report, check you’re happy, and only sign when everything is cleared up. For more rental property advice about inventories, please get in touch with Looksy Inventories today.

The Sunday Times newspaper has prepared its annual list of the greatest places in the nation, and after being chosen as one of the best places in the area in 2021, its judging team has awarded Sevenoaks the top honour in the region this year.

The Best Places to Live guide, which was released online and will appear in Sunday’s paper, evaluated a wide variety of variables, including schools, transportation, and broadband, as well as culture, green spaces, and the health of the high street.

They want to celebrate strengthening towns, villages, or city centres with well-designed houses and settings that foster community spirit – something that the Covid pandemic has shown is critical.

Sevenoaks, where the average sale price of a home has risen to £685,500, a growth of 7% from 2020, is praised for “the combination of convenient commutability, top-class schools and an abundance of greenery”.

Sevenoaks Bookshop is singled out for commendation for the second year in a row last year, the high Street store was nominated UK and Ireland Independent Bookshop of the Year at the British Book Events, as well as South East England Independent Bookshop of the Year at the same awards.

Knole Park, Emmetts Garden, Sevenoaks Wildlife Reserve, Ightham Mote Manor House, and Bradbourne Lakes are all popular attractions in the Sevenoaks area.

Looksy Inventories is proud to be part of this fantastic area, with its many wonderful places and people.

Renting out property can be a difficult process for both landlords and tenants. A scuffed wall, shattered glass, or damaged carpet may all cost the renter a significant portion of the deposit. The landlord might believe that money must be spent on the property before it can be leased again. What is the solution? From check-in through check-out, it’s best to use a professional inventory clerk Tunbridge Wells. This protects the tenant’s deposit as well as the landlord’s property, saving both parties time, trouble, and money.

What Is An Inventory Clerk?

Inventory clerks are experts who take thorough notes on the condition and contents of a property before a landlord rents it out. The clerk may conduct mid-lease inspections on the property and will return after the tenancy terminates to compare the original state to the end-of-tenancy condition. The tenant’s whole deposit is normally returned based on the condition in which he or she leaves the property, barring normal wear and tear. Therefore, a good inventory clerk Tunbridge Wells or wherever the property might be can be vital.

What Is Noted On An Inventory?

An inventory is a legal record that should be detailed. This is in both the tenant’s and the landlord’s best interests. If everything is documented in a precise and efficient way in the first place, there will be fewer difficulties after the tenant leaves the home. When the tenant moves into the property, both the landlord and the tenant should agree on the inventory.

The inventory should contain a list of everything that is included with the property. To mention a few, this comprises the doors and locks, ceiling, walls, light fittings, floors and carpets, curtains and blinds, smoke detectors, door frames, plug outlets, cabinets, doorknobs, extractor fans, and heating equipment.

In addition to these fixtures and fittings, any furniture owned by the landlord should be included, along with descriptions of its condition. It is critical to mention any marks, chipping, or damage next to each description so that the landlord is not held liable for any damage caused by the tenant and vice versa. Utility data – gas, water, and electricity – are also included in certain inventories. An inventory clerk Tunbridge Wells may also photograph the property digitally.

Who Uses Inventory Clerks?

Inventories are used by landlords and rental companies. If you own property that you rent out to tenants, you should do an inventory before they move in. It’s best to have an independent inventory clerk Tunbridge Wells do the work for you.

Snagging is a service offered by certain inventory businesses. If you are purchasing a new construction property, a professional can inspect it before you move in and address any flaws with the developer or builder. Snagging businesses conduct extensive examinations of new houses and seek resolutions with people accountable for the faults.

Contact Looksy Inventories Today

If you feel you would benefit from the help that an experienced, professional inventory clerk Tunbridge Wells could offer you, please don’t hesitate to get in touch with us. At Looksy Inventories, we are dedicated to providing only the very best work. You can rely on us.