LET TING YOUR PROPERTY. 1

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1 LET TING YOUR PROPERTY 1

2 WelCOME An introduction to Langford Russell Lettings CHOOSING AN AGENT How to get the best possible service UNDERSTAND THE PROCESS Your step-by-step guide to renting your property SERVICES We have a range of services to suit everyone DIVISIONS An overview of our specialist teams ARLA The Association of Residential Lettings Agents START FINANCIAL SERVICES Expert advice from the Start Financial Services team 2

3 Welcome The lettings market has been revolutionised over the last two decades and, with the private rental sector growing beyond all proportion, we now represent over two thousand landlords. We are currently ranked in the top 18 estate agents in the UK and are one of London and Kent s most successful independent property companies. With over 30 years experience, and offices throughout the borough of Bromley and south-east London, we strive to deliver a service that is unparalleled by our competitors. Our clients vary from first-time investors to some of the biggest corporate property companies in the UK. We re proactive We understand our clients and our market. Our dedicated team will value an individual property or an extensive portfolio, and apply the same level of professionalism to both. We deliver a tailored and professional service to suit each client s specific needs. We re informed We offer advice on all aspects of letting and will communicate with you regularly, from the day we value your property to the day tenants move in, and throughout the tenancy. We re inventive Rather than just relying on tried and tested methods to let your property, we will explore every opportunity to achieve a let. Whether this may be to combine public open days with private viewings, using a range of promotional tools or employing some of the best marketing techniques, we will make sure we deliver an effective service. We re a team When you instruct us, your local office and our entire team across all our branches will help find a tenant for your property. Our computer-linked network ensures that your home is marketed efficiently to find the right tenant quickly. We re licensed members of ARLA Churchill Theatre, Bromley Members of the Association of Residential Letting Agents (ARLA) are governed by a Code of Practice providing a framework of ethical and professional standards at a level far higher than the law demands. Examinations are held regularly and membership rules require all member offices to have professionally qualified staff. Members accounts are required to be audited annually ensuring that they conform to stringent accounting practice. 3

4 This year we expect to rent in excess of 3,000 properties to corporate and private tenants across the borough of Bromley and south-east London. High Street, Bromley 4

5 CHOOSING AN AGENT This year we expect to rent in excess of 3,000 properties to corporate and private tenants across the borough of Bromley and south-east London. Now that you have decided to let your property, it is important to establish a good working relationship with your letting agent. A good agent will minimise any concern and maximise your gain. Here s a list of what you need to look for: A team of qualified and experienced professionals offering expert advice on all aspects of lettings An agent that offers a range of services to landlords such as: property management, rent & legal cost protection, & rent collection Comprehensive knowledge of the market place A track record of renting similar properties A network of offices to maximise advertising across a wide area Prominent high-street locations with striking window displays An easy-to-use, well-publicised and popular website High-profile advertising that attracts a high number of enquiries Professionally produced property details with good photography and a well-written description of your property A proactive PR department that gets features about its clients properties in the press An agent that can meet your desired timescale An agent that has made huge investments to increase its resources, saving you time and money An ARLA bonded member 5

6 hours Tenants can view at a time convenient for them as all our offices are open 55 a week. Kelsey Park, Beckenham 6

7 understand the process Step 1 - Rent valuation We will visit your property to discuss in detail all aspects of letting and to determine the rental yield of the property. To do this we will take into consideration the size, furnishings, facilities and location. This valuation is completely free. Step 2 - Marketing moves Tenants make their decision on whether to rent a property within a few minutes. Influence their gut feeling by creating a comfortable space. All those jobs you were planning to do, but never got round to do them now. De-clutter and keep the décor as neutral and light as possible to give a sense of brightness and space. If the property is furnished, dress the beds and fluff the cushions. If you optimise your property s appearance, it will receive more interest. Step 3 - Accompanied viewings We accompany all prospective tenants around your property at times that are convenient to you or the existing tenant. You will be fully updated after each viewing as to interest or concerns expressed by potential tenants. Tenants can view at a time convenient for them as all our offices are open 55 hours a week. Step 4 - Letting agreed Once a suitable tenant has been found, and the terms of the let have been agreed, we will carry out a credit check, assess all references on your behalf and prepare the appropriate documentation. Step 5 - Paperwork The tenancy agreement will be drawn up. All relevant documentation from the tenants will be received, not to mention cleared funds for their first month s rent and deposit. We will also obviously ensure that all legislation is adhered to. Step 6 - Inventory and check-in The cost of check-in and check-out is borne equally by the landlord and tenant. The landlord bears the cost of the inventory. 7

8 SERVICES Full Management The preferred choice for most landlords Langford Russell takes the strain and you can get on with your life. Just as it should be. Service includes: Initial market valuation on your property Full marketing details provided Full coverage throughout our branch network Accompanied viewings Negotiating terms of the tenancy between the landlord and tenant Full referencing including credit report Arrangement of professional inventory and check-in/out by independent clerk (subject to a charge) Preparation and completion of legal documentation for the tenancy Receipt of initial move-in monies from the tenant to include rent and deposit Lodging the deposit with The Dispute Service (subject to a charge) Collection of the rent on behalf of the landlord Preparation of a monthly/quarterly statement of account Periodic property inspections during the tenancy Overseeing all works during the tenancy Arranging free estimates for work from qualified contractors Arranging tenancy renewals and insurances where necessary Check-out of tenants (subject to a charge) Dilapidations deposit reconciliation If landlord is overseas, helping and assisting in obtaining approval number for tax exemption Preparation of income and expenditure statement Letting and Rent Collection (LRC) We will collect the rent from the tenant each month on the landlord s behalf and a statement of account will be forwarded to the landlord. This is an ideal service for those landlords who do not want to get involved in the financial management of their tenants. Service includes: Initial market valuation on your property Full marketing details provided Full coverage throughout our branch network Accompanied viewings Negotiating terms of the tenancy between the landlord and tenant Full referencing including credit report Arrangement of professional inventory and check-in/out by independent clerk (subject to a charge) Preparation and completion of legal documentation for the tenancy Receipt of initial move-in monies from the tenant to include rent and deposit Lodging the deposit with The Dispute Service (subject to a charge) Collection of the rent on behalf of the landlord Preparation of a monthly/quarterly statement of account Chasing potential rent arrears Serving relevant documentation in the pursuit of any rent arrears 8

9 Royal Parade, Chislehurst 9

10 over Whether a landlord has 5 or 500 properties, we are well placed to take immediate management. 10

11 DIVISIONS Corporate and Premier Landlord Division This division was established in order to meet the requirements of our corporate and larger multi-landlords who often request a tailormade service to meet their differing needs. Whether a landlord has 5 or 500 properties, we are well placed to take over immediate management. The team has been specially selected to work within the division, which has some of the most knowledgeable portfolio managers within the industry. Our services include: Monthly or quarterly portfolio reporting Interim vacant stock management Resolving difficult issues daily, including emergency maintenance Dealing with court paperwork and advising our landlords on all legal aspects of their tenancy Arranging bespoke financial portfolio reports for accounts purposes such as projected profit and loss analysis Organising portfolio valuations whether for re-financing purposes or to release capital for further acquisitions Specialising in portfolio disposal with tenants in situ, which maximises income for both purchaser and landlord Offering a nationwide property management service for our corporate clients and multi-landlords, enabling us to manage entire portfolios regardless of location Many of our clients end up in long-established relationships with Langford Russell and do business on many fronts, and receive a service that is second to none. To arrange a meeting to discuss the management of your portfolio, please call the Corporate & Premier Landlord Division on Sundridge Park Golf Club, Bromley 11

12 Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession. Chislehurst Ponds 12

13 ARLA What is ARLA? The Association of Residential Letting Agents was formed in 1981 as the professional and regulatory body for letting agents in the UK. It was recognised that the requirements of the residential lettings market were so detailed and specific that a separate organisation was required to promote standards in this important and growing sector of the property market. Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession and that they conduct their business according to current best management practice. ARLA members are governed by the Code of Practice providing a framework of ethical and professional standards at a level far higher than the law demands. Why should a landlord or tenant seek out an ARLA member firm? ARLA offers protection by leading the industry in setting and regulating the highest standards. Affiliation demands certain levels of professionalism and commitment to customer service from its membership. ARLA member firms are required to work within a robust Code of Practice, which covers the key stages in letting and managing a property. There are comprehensive membership bye-laws which include compliance with issues such as handling and accounting of clients money; the mandatory ARLA client money protection bonding scheme; professional indemnity insurance; and dealing with complaints and disciplinary procedures. ARLA keeps it members up to date with changes in legislation and provides wide-ranging training and guidance to help members understand and interpret all aspects of letting and managing a property. 13

14 With over 25 years of knowledge, Start Financial Services has access to hundreds of mortgages, from over 50 lenders. 14

15 START FINANCIAL SERVICES About Start With over 25 years of knowledge, Start Financial Services has access to hundreds of mortgages, from over 50 lenders, so can find the best deal for you and your circumstances. Our trained consultants can help to ensure that your transaction is completed smoothly with no fuss. You don t even have to buy your property through Langford Russell to take advantage of these services. Progress is registered online and you can also receive SMS text updates about your mortgage, never leaving you in the dark. Our cost planning service is also of benefit, providing you with a breakdown of all expenses incurred when selling and purchasing a property. Buy-to-let with Start Financial Services Buying a property to let has become an incredibly popular investment option. Whether you are an individual looking to buy a property as a one-off buy-to-let, or an investor looking to increase or re-finance an existing portfolio. Even in the current market, there are still many buy-to-let mortgages available. Why not let us source the best one available to you? There is no guarantee that it will be possible to arrange continuous letting of the property, nor that the rental income will be sufficient to meet the cost of the mortgage. Your property may be repossessed if you do not keep up repayments on your mortgage. We do not normally charge a fee for mortgage advice, however this will be dependent on your circumstances. If a fee is charged, our typical fee is 235 for a residential mortgage and 399 for a buyto-let mortgage. There is no charge on a re-mortgage for new and existing clients. To see which loans might be best for your buy-to-let, contact Start Financial Services direct on or start@startmortgages.co.uk H St Nicholas Church, Chislehurst 15

16 langfordrussell.co.uk Beckenham 3-5 Kelsey Park Road Beckenham Kent BR3 6LH Bromley Masons Hill Bromley Kent BR2 9HD Chislehurst 7a High Street Chislehurst Kent BR7 5AB Locksbottom 7 Princess Parade Locksbottom Kent BR6 8NP locksbottom@langfordrussell.co.uk Orpington 280 High Street Orpington Kent BR6 0ND orpington@langfordrussell.co.uk West Wickham 7 High Street West Wickham Kent BR4 0LP westwickham@langfordrussell.co.uk