To benefit from best advice choose a letting agent who fully understands current market trends within a local dynamic drawn from extensive experience and knowledge, ensuring that your property is valued realistically to maximise your return.
A fluctuating market
You may be surprised what your property is worth. Demand, supply and market conditions are ever changing. Book a free market appraisal to be sure you have an up-to-date rental value for your property.
In today’s competitive and fast-paced market, the key to successfully renting your property is finding an agile, informed agent who fully understands your needs.
Market dynamics and industry practices are continually evolving, so it’s essential to find an agent who is able to provide you with timely, knowledgeable advice and support every step of the way.
The marketing of your property can be tailored to your needs – from conventional photography, marketing and accompanied viewings to an individual, bespoke advertising campaign.
Market knowledge is everything
Letting agents are not all the same –appoint an agent that offers maximum support, advice and intimate local market knowledge.
Showcasing the property
Even in a market where demand outstrips supply, it pays to showcase your property to its maximum potential. The key is determining which improvements or aspects of presentation will repay you most. From superficial details to modernised décor, an experienced agent can advise on quick wins to present your property in the best possible light.
When it comes to considering offers its important to consider all of the factors not least the quality of the tenant, length of term, any initial void periods along with any conditions the proposed tenant may have.
Once you have accepted an offer, subject to references, the agent will collect a deposit – usually equivalent to one or two months’ rent. To comply with Gibraltar Office of Fair Trading guidelines, this deposit will be held in a client’s account. Deposit secured, the process of tenant referencing will be put in hand by the agent, including details of employer, income / affordability, identity, proof of address and, if applicable, a reference from the previous landlord.
The Pre-completion Legals
Upon completion and satisfactory acceptance of references, your agent will prepare the legal paperwork. The key documents here are the Tenancy Agreement and the inventory. The Tenancy Agreement will set out details of the property, the tenants, the amount of rent, the term of the tenancy and any other relevant aspects or conditions.
The inventory, meanwhile, will specify the condition and contents of the property for the tenant to undersign when they move in – along with any required pre-tenancy remedial works as agreed. The agent will oversee the sign off by the relevant parties of the paperwork for the utility providers.
Do it early
Once referencing is complete, be sure to have a signed Tenancy Agreement in place as soon as possible, so everything is tied up well ahead of move-in date.
Your agent will hand property keys to the tenant on the agreed move-in date, along with the inventory for them to check, sign and, if required, annotate with any comments or queries. Upon completion, rent proceeds will then be remitted to your bank account.
Manuals and warranties
If possible, try and provide operation and instruction manuals for all appliances and equipment, along with any warranties
There are two options – full management or self-managing.
Full management means the agent will take care of everything on your behalf. All you need to need is sit back and receive the rental income,and the preferred option for landlords who lack the time and expertise called for by a self-managed tenancy.
Some landlords, however, prefer to remain more hands-on. The self-managed landlord will handle all financial aspects, property maintenance and any emergencies direct with their tenant, so each party will need full contact details for their counterpart.
Safe and insured
Deal with any maintenance issues quickly and make sure that you have landlord’s insurance!