What is a let only service?

The Let Only service is exactly as its name suggests. Your letting agent will be there to help you through the initial stages of renting out your property and then it will be all up to you.

There might be several reasons for wanting the basic service. Cost is obviously important although a good letting agent will be worth their weight in gold when it comes to finding tenants and managing your property. You may want to be more hands-on and see being a landlord as a job in which case you will want the letting agent to just do the minimum for you, or maybe you don’t want the hassle of having to deal with all the legals - after all there’s quite a bit of admin to sift through when you are renting out property. Perhaps you have only one or two rental properties that you feel are manageable, or you have years of experience and just need help at the initial stages of the process, but whatever reason the Let Only service is a good place to start.

The Let Only service is targeted to get you the best tenants through comprehensive marketing strategies right through to the moment when you hand over the keys to your tenant.

What is a Let Only Service?

Let Only is where the letting agent finds tenants for the property, arranges the paperwork and moves the tenant into the property. After this it's up to the landlord to take over the management of the property.

Here is what it includes…

A rental evaluation

This is where the letting agent evaluates the property to ensure that it is let at the right price - ie. that it achieves a rental value comparable to properties of a similar standard in the same area. A good letting agent won’t overprice it just to please you but will be realistic. After all, the aim is to get a good tenant.

Buildings and contents insurance

You need building and contents insurance. If you’re renting a furnished property then contents insurance is a must to guard against the possibility of damage or maybe even theft.

Marketing and advertising

A Let Only service will ensure that potential tenants can easily gain access to details of the properties via a variety of marketing and advertising strategies, including the ‘To Let’ Board, Rightmove, On the Market, Facebook, Twitter, office board etc.

Accompanied viewings

The letting agent will be able to be on hand to accompany tenants during viewings, even at short notice. They’ll know the area, the legals, in fact any questions a prospective tenant might throw at them during the viewing. Their local knowledge is always an asset

Obtaining references

A Let Only service extends to obtaining references and dealing with credit searches and they will also collect the first month's rent and the deposit.

Tenancy agreements

The letting agent ensures that the tenancy agreement is signed. When a landlord lets property, a tenancy agreement is an essential. It’s a contract between you and the tenant that gives both of you certain rights. For example your right to receive rent for letting the accommodation and the tenant’s right to occupy the accommodation. The tenancy agreement should be signed by the landlord and all tenants and if there are joint tenants, each tenant should receive a copy of the agreement.

Organising Initial Gas and Electrical Safety Checks and EPC

Before a tenant moves into your property the landlord must ensure that tenants in the property are always supplied with heating and hot water through safe, working appliances.

If either utility fails and you do not move fast to provide repairs or alternatives, you’ll be in breach of the tenancy agreement under the ‘keep the property in repair and free from hazard’ clause – the only exception being if damage has been caused maliciously by your tenant.

You’ll also need an energy performance certificate and all rented property (both domestic and non-domestic) which is to have a new tenancy must have an EPC rating of at least “E”

Handing over the keys

Once all the paperwork is checked and we have ensured absolutely everything is in place the letting agent will be there to hand over the keys to your tenant.

If you think a Let Only service is what you’re looking for and would like to find out more, you can contact us and we will be more than happy to help.