Landlord Process

The achievable rental value of your property is determined by many factors, including location, number of bedrooms, local services, amenities, the cosmetic appearance and overall condition of the property. Abacus Estates will advise you on a realistic rental value taking in to consideration all these factors together with the current state of the local market.

Every Landlord and every property are different, and we understand this. You want to be kept in the loop at every stage? We hear you. If you prefer to leave it all to us while you get on with the things you enjoy? That’s no problem. We appreciate, that looking after a rented property is easy when you have responsible tenants and live locally.  However, if anything does go wrong, from a boiler breaking down to a tenant losing their job it can get very stressful.  There is a mountain of legal obligations, with seemingly more forms to complete every day.

This is where we can come in and take the strain off and manage your property for you. (psstt, no late night calls when the boiler conks out either; guaranteed) We can ensure that you’re protected in every way, and we’ll work hard to make sure you’re not out of pocket financially.  We’re proud of our knowledge of the industry and will always act in your best interests at all times.

You need to firstly decide whether to let your property furnished or unfurnished.  Furnished properties can give a better visual impression to the prospective tenants on how the property will look. If the quality of the furniture warrants it, you can charge a premium rental price than if it was unfurnished.  However, having an unfurnished property provides a blank canvas to prospective tenants, aiding visualisation of where they place their own bits and bobs. So, they can make your house, their home.

Flexibility is key as this will broaden the appeal of the property to prospective tenants as individual requirements vary.  Anything surplus to requirements should be removed and placed into storage if need be.

Once we receive an offer, we will relay that information to you, together with detailed information on the potential tenants. We check their financial situation, employment status, who is intending to move into the property, and how long they are looking to rent for.  As the Landlord, you have the final say as to whether you wish to proceed and accept their offer. If not, viewings will continue until a suitable tenant is found.

At this point, we will ask for a holding deposit from the applicants to secure the property and ask them to visit our office with their ID, which will be checked and copied.  We will also commence the referencing process.  During this time, viewings are suspended until all checks have been completed and are satisfactory. If the agreement falls through at any point, we will re-commence viewings immediately.

All tenants will undergo vigorous background checks.  We use an independent reputable referencing company to report on their suitability and creditworthiness, including their payment history on any previous lending and any adverse credit e.g. CCJ’s or bankruptcies.  

Their identity is also verified as is their right to live and work in the UK – We cover the Right to Rent checks including whether they are subject to any immigration control. If they have rented properties in the past, we will ask their previous Landlord to provide us with a reference. From this we can ascertain a very clear picture on their suitability as a tenant for your property.

Once all referencing is completed and deemed satisfactory, we then ask the tenants to pay their first months rent and security deposit.  
Upon receipt of cleared funds, we will arrange for the tenancy agreement to be drawn up and signed by all parties. All deposits are protected in a government approved tenancy deposit scheme.

We at Abacus Estates recommend that prior to tenancies commencing, the property is professionally cleaned and a check in inventory is undertaken. This is so we have a relevant documentation providing the exact condition the property was in upon renting. This assists with any discrepancies before the tenancy begins and after it ends.

Normally the Clerk will meet the tenants at the property to conduct the check in process. They will ensure that meter readings are taken, the keys are photographed and then handed over to the Tenant.
If we manage the property for you, we will also retain a set of keys at our offices.
Once the inventory has been drafted, it is sent to the Tenant for them to agree to and sign within seven days. Any adjustments must be highlighted within 14 days or the inventory will become non-amendable.