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FIRST TIME LANDLORD'S GUIDE

Letting out your own home to move abroad or relocate can be a great way of testing the water first.  It could be that you are looking buy an investment opportunity.

We have put together this short landlord guide for First Time Landlords covering a few key points that you need to take into account.

If you would like some advice or to have a chat with one of our specialists then call or pop into your local branch.

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1. Consider your needs

Is the property you want to let an investment or your home? You will have different priorities and needs and the help and advice of a property professional can be essential at an early stage.

Talk to your mortgage lender as early as possible to make sure you can get consent to let your property.

2. Consider your time scales

JNP recommend that you market your property no more than 6 to 8 weeks before you want it Let. The standard length of a tenancy is 6 or 12 months. Talk to friends, colleagues and other landlords too for recommendations.

3. Talk to a Letting agent

At JNP we can help guide you through the process and assist and advise you if you are considering letting your property. At JNP we always welcome the opportunity to talk to all of our customers so drop in for a chat about the market and a coffee anytime. Meet our people, talk through your needs and register with us.

4. Valuation

Get your property valued – all agents should offer comparable evidence of other properties recently let, discuss property management, associated costs, compliance issues, local and national market information, rent guarantees and insurance policies. At JNP we pride ourselves on our ability to help you with every aspect of your tenancy and can offer an outstanding Property Management service.

You will receive a Valuation Letter which outlines what we believe you can achieve in monthly income for your property.

JNP will call to discuss the next step you want to take.

5. Instruction

When you instruct your agent they should book an appointment to come and take photographs and arrange for an Energy Performance assessment in order to start marketing the property.

6. Agency Agreement

You should receive and sign the Agency Agreement and complete the landlord information forms and return them.

7. Marketing

At JNP we will place your property on the market within 1 working day of receipt of the Energy Performance certificate. We will upload your property immediately to jnp.co.uk, match with our database, contact prospective tenants, place your property on Rightmove and various other Website and advertise in the local press.

8. Viewing

At the viewing stage Intercounty pre-qualify all potential tenants and accompany all viewings. We have found that the majority of activity will take place approximately 1 month before the property's availability date.

9. Feedback

We will ring your prospective tenants 24 hours after the viewing for their feedback and comments.  We will then contact you with the outcome and any necessary actions required as soon as we have it.

10. Offer

When an offer is made we will try to contact you immediately and confirm your instructions on how you would like to proceed.

11. Referencing Process

If an agreement is reached we will start the referencing process immediately (it usually takes about 7 working days) and it covers credit history, employment history, previous landlords and any reference guarantors if required. It is worth understanding the criteria set by your agent for referencing as these may differ. JNP are happy for you to drop in at any time and talk through any concerns you may have and what our Property Management and Rent Guarantee schemes can offer. We will write to you to confirm in writing all the details at the start of the referencing process.

12. Tenancy Agreement

Once the references have passed the Tenancy Agreement will be drawn up and sent to you. Sign the agreement and return to Intercounty or give written permission for JNP to do so on your behalf.

13. Deposits

Tenants are required to pay a deposit prior to the start of the agreement. As from 2007 all deposits under an Assured Shorthold Agreement, which is the majority of agreements signed, must be registered and proof of registration will be provided. The deposit required is 1.5 times the monthly rent.

14. Inventory

We will arrange for an inventory of your property and deal with any compliance issues e.g. Landlords Gas safety certificate.

15. Check-in Service

JNP can offer a check in service to ensure a clean and efficient handover.

16. Standing orders

JNP encourage that tenants set up standing orders.

17. Property Management

At JNP we take great pride in knowing that our dedicated Property Management Team will ensure that your home or investment is very well looked after.

18. The Property Investment

Management Team will contact you to introduce themselves. They will take all steps to make sure the rent is paid on time, that your home/investment is looked after and that any necessary maintenance is dealt with promptly.

For more information of this service see the Property Management Section.

19. Renewals

2 months prior to the end of your fixed term Intercounty will contact you to discuss your future plans. We will assess the current market position and advise accordingly and then contact your tenant to discuss their plans.

20. Tenancy renewal

This allows further commitment, planning and budgeting for another fixed term. The process replicates the start of the original tenancy.

21. Serving notice

If you wish to serve notice Intercounty will advise on the necessary steps given the circumstances – e.g. whether fixed term (as above) or periodic and serve the necessary notices.

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