Landlords' Guide

There's always a huge demand in east London and the lettings team at Estates East are all over it.

Whether you're an experienced investor or letting a property for the first time, talking to Estates East is the first step to running your business practically and profitably.

Wondering where to start?

Start here. Book a Lettings Appraisal with Estates East, a no-holds-barred how-to. It's not only obligation-free, it's free-free.

Prefer to chat?

Call 020 8520 9300

and tell us what you have in mind

HERE'S WHAT TO CONSIDER AND SOME
TIPS FOR NEW LANDLORDS

1. To furnish?

  • Greater demand
  • Less wear and tear on your chintz
  • Lower turnover of tenants
  • Lower maintenance and repair costs
  • No need for Furniture and Furnishings Fire Safety compliance

Or not to furnish?

  • Tenants save money on buying big ticket items
  • You save money moving stuff out
  • Furnishings can be reused when the tenancy ends
  • A percentage of replacement and disposal of old items is tax deductible

2. What's your budget for making your property look ten out of ten, to tenants?

  • We'll show you how to present your property so it packs a punch with the right tenants and achieves a higher rent
  • We'll help you present any gardening as a bonus, not a drag
  • And avoid spending unnecessarily, on improvements that your tenants won't even notice

3. Independent Inventory / Schedule of Condition

  • We take care of this for you as part of our Full Management Service. It's something you need ahead of each tenancy, we'll explain it in full

4. Happy tenants make happy landlords

  • A good relationship with your tenants is good business. You want things managed so that your tenants keep calm, comfortable and paying on time. Mydeposits is a deposit protection app which works for all parties and keeps things fair, we'll be advising you to use it.

5. Be upfront with your mortgage lender

  • If you have a mortgage on the property you need consent to let it. Don't worry, they rarely refuse, and are always reassured to know a professional agent is involved.
  • The kind of thing they'll want to know is the type of tenancy agreement you intend to use, how long the tenancy is for and they'll require certain notices to be served on the tenant.
  • Heads up — Building Societies often charge a small admin fee to give consent.

6. Rental payments and deposit

  • When the tenant signs the agreements we take payment for 1 month's rent, and 5 weeks' deposit, usually equivalent to 1.5 months' rent. We always make sure funds are cleared before the tenants are allowed to move in, and rental payments are by standing order.
  • In 2019 the Government introduced the Tenant Fee Ban, we'll explain all this and make sure all your tenant fees are in order.

7. Council Tax and utility bills

  • In addition to rent, tenants pay for water charges, council tax, gas, electricity and telephone bills—all of which are cancelled before new tenants move in.

8. Buying to let

  • There are short term rises and falls in property values, but over the long term, property does well. A good mindset is to treat your property as a medium or long term investment.
  • We'll help you buy the right kind of property and advise you on location, demand and rental values: so you get the most from your investment.
  • We'll also explain all legal, financial and tax issues throughout.

Questions? Let's chat!

Call 020 8520 9300

and tell us what you have in mind

Estates East knows how to optimise your investment and very shortly you will too

With Estates East in your corner, you're keeping your property up to speed with the law, and you're kept aware of any good initiatives coming into the sector. Shall we chat?

Call 020 8520 9300