01626 367018
3 Bank Street,
Newton Abbot TQ12 2JL
Information

for Landlords.


Valuation

When asking an agent to value your home you will have several options. It is important to consider more than just fees when making this decision. The reputation of a letting agent can attract tenants and an agent with membership to regulatory bodies can offer you peace of mind that your money is in safe and secure hands.

A property valuation will take into account the many factors which affect the appropriate rent to charge your tenants. At Sample Mills & Co, when we value properties for rent we look into aspects which may influence the rate you are able to charge including:

The type of tenant will the property attract (families, couples, corporate)

What fixtures and furnishings will be included in the property (oven, fridge etc)

The local trends and demand for the property type in the area (and whether this is likely to change over time)

Proximity to transport links and local amenities

State of repair and décor

As experts in letting property in Newton Abbot, Torquay and surrounding areas we have an in-depth knowledge of what tenants are looking for from rented property in the area. We base our valuations on our knowledge of the local market trends and use this information to guide how we market your property.

Landlord Guide

Before you become a landlord, consider how much involvement you want to have with your tenant and property, day to day maintenance, monthly rent collection and other responsibilities may affect your current lifestyle in a way you do not want.

When using Sample Mills & Co, you can choose from our three service levels to find the best fit for your needs and personal requirements. Build on the basic Let Only Service to a more comprehensive Rent Collection Service or choose the Fully Managed Service to make your property investment hassle-free.

Our top tip: In our experience, corporate and tenants often opt for properties fully managed by agents to ensure their maintenance needs are looked after by professionals so if you are aiming to attract a corporate tenant, consider our fully managed service.

Market your property

Without a letting agent, finding the right tenant can be expensive, time consuming and hard work. You want to get the word out about your property and encourage a tenant that is in the best position for you. At Sample Mills & Co as soon as we receive your instruction, we'll prepare your property's details, which can include photography, and an Energy Performance Certificate. Then we'll start marketing your property to attract the right tenant:

High profile advertising

We invest in marketing through high profile advertisements in all the leading local property newspapers and publications across our network as well as using our extensive tenant database to target direct mail campaigns.

Online exposure

Your property will also be marketed on our website www.samplemills.co.uk  and where potential tenants can view our rental properties that match their criteria become available. We also use Zoopla and other online portals to market properties.  In addition Sample Mills & Co’s local market knowledge, large database of potential tenants, in-branch visibility, and open house viewings, will ensure that your property will soon be seen by potential clients.

Arranging gas and electrical safety certificates

Your property must meet the UK's legal safety standards, therefore an impartial service must be employed to provide you with essential certified gas inspections. Sample Mills & Co will be able to provide this and also can offer additional certified inspections of your property's electrics.

Our top tip: Keep up with the latest legislation. At Sample Mills & Co we ensure our landlords and their investments are up to date with the newest regulations and protected at all times. It's all part of the service.

Viewings

We recommend you keep your property as a blank canvas for prospective tenants by keeping the space clean and clutter-free. As standard, Sample Mills & Co will accompany the prospective tenants on all viewings on your behalf however if you choose to host the viewing yourself remember to highlight all the good points that aren't immediately obvious, such as friendly neighbours and in-built storage.

Our top tip: Appeal to the masses. If you are decorating your property keep it simple, don't let your personal taste put off potential tenants.

Negotiating

Your estate agent can handle negotiations between you and the prospective tenant. At Sample Mills & Co, we strive to get you the best price, however there may be other factors worthy of consideration in this decision, such as the references of the tenant and whether they have a reliable income.

Our top tip: Be clear with your agent about the type of tenant you will be happy with, for example are pets an issue?

Agreeing an offer

Once negotiations have reached a positive conclusion and you are happy to accept an offer, we will work on carrying out all the checks on the prospective tenant and securing the deposit.

Reference and credit checks

It is important to run thorough checks on prospective tenants to ensure that your investment will be secure. At Sample Mills & Co we use strict referencing procedures carried out by independent experts which can give our landlords a comprehensive understanding of their personal and financial circumstances, including a check on their employment history, credit worthiness and previous addresses.

Our top tip:  We believe strict referencing betters your chances of avoiding problems with payments further down the line.

Signing the tenancy agreement

This document outlines the agreed responsibilities of both parties. It is important that both tenants and landlords take the time to read this carefully before signing.

The inventory

An inventory is a detailed list agreed and signed by both parties itemising the contents and condition of the property at the time of the tenant moving in. Sample Mills & Co to provide a comprehensive list designed to minimise the risk of any dispute over the deposit at the end of the tenancy.

Securing the deposit

Once the deposit has been paid in full, the tenant has secured the property. This deposit is held against possible damage to the property which can be checked against the inventory at the end of the tenancy. The Housing Act 2004 protects all parties in this regard as the deposit is now required to be held within a government-approved scheme DPS on an Assured Shorthold Tenancy. This scheme offers quicker and easier ways of resolving disputes, without the need for court action.

Sample Mills & Co is not a member of a Client Money Protection Scheme (CMP).

Tenants move in 

In order to keep checks on the property and that it is being well looked after, you will need to agree a number of visit dates with your tenant, usually FOUR  times a year. Of course, if anything breaks down or needs repairing then you may be required to visit the property more often. If you want to minimise your workload Sample Mills & Co offers the fully managed service option to lighten the load (see service level section for more details).

Our top tip: Small gestures will go a long way in building good relationships with your tenants, leave out instructions to appliances. (This may also mean tenants will be less likely to break the appliance!)

Once the tenancy period has nearly come to an end, your tenant will need to decide whether to extend their stay or move out (remembering to give two months' notice in writing).

As a Sample Mills & Co Landlord, if anything else arises before, during or after the tenancy we will be on hand to offer you full, supportive lettings advice. Whatever your enquiry, contact us - we will be more than happy to help you.

Landlord Fees

Our Landlord  Fees are charged as follows:-

  • Tenant Find only - 60% of the first month's rent including VAT

  • Rent collection only service - 9% of the monthly rent including VAT

  • Fully Managed service - 12% of the month rent including VAT

 

In addition to the above Fees, the following costs will apply in setting up the Tenancy:-

  • Lease set up Fee = £150.00 including VAT

  • Inventory and Check in Report = £102.00 including VAT

 

 

 

 

 

 

Contact us to arrange a free market appraisal

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Tenants

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