Alex Marks Ltd

Property Search

020 7078 7950

info@alexmarks.co.uk

Landlord Process

1Contacting us to arrange your valuation

So you have decided to let your property! To get started, you can complete the ‘arrange a valuation’ from this website or contact us to make an appointment for your marketing appraisal and rental valuation. We provide this FREE with no obligation to the current property owner. It allows you to take advantage of our specialist and professional lettings advice - essential if you want to maximise the return on your rental investment.

2Preparing your property for let

We have many years’ experience of your local rental market and  can advise you on how to prepare your property for your chosen tenant market, whether this is for professional or company lets, families or students and furnished or unfurnished.

3Planning for viewings

We accompany everyone who views your property to ensure that it is presented to them in the most effective and desirable way, whatever their specific needs, and to be on hand to answer any questions that they may have about renting your property. You should make sure that the property is fully cleaned and any repair works are complete before viewings take place. Further items such as property and appliance manuals being in view, keys working correctly, doors and windows opening and locking correctly will help to reassure potential tenants that your property is well looked after and provide the maximum opportunity to let the property quickly and at the best rental.  An empty property (or ‘void’ as it is known) is not producing any income!

4Receiving offers and taking applications

When a viewer wants to make an offer to rent the property we will contact you to confirm the details and any specific requirements. We agree these provisionally ‘subject to contract’ before we progress an application. The provisional details will include the rent payable, tenancy deposit due, planned start date, duration of the letting and any special requests or terms together with brief details of the prospective tenant’s current employment.

5Taking up references

All prospective tenants must fully complete a reference application via our preferred 3rd party referencing company who will confirm their current employment status, credit history and landlord reference. Additional enquires will be made if required from former employers and landlords and a personal referee.

6Obtaining relevant certificates

As a landlord you have certain legal obligations to provide certificates confirming the safety of your property such as gas and electrical certificates, which we are here to help you obtain if needed.

7Your rent payment

We will arrange to receive the first rent payment before the start of tenancy and, if we are managing the property the rent thereafter, monthly on the same day of the month. Otherwise we will arrange for a standing order to be set up from the tenants direct to you.

8The tenancy deposit

We will arrange to collect a tenancy deposit when your tenant signs the tenancy agreement and before the actual start of the tenancy. We will agree the amount of this deposit with you when we take instructions to market your property and unless managed by Alex Marks you are required by law register the tenancy deposit with your selected deposit scheme.

9Commencement of tenancies

We will contact you to arrange the signing of the tenancy agreement and all other tenancy documentation.

10Collection of keys

Once all the tenancy administration arrangements are complete, we will let your new tenants know that the keys are ready for collection. This is usually by prior appointment to meet at our offices or if requested arranged via our inventory clerk upon checking the tenants into the property.

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At Alex Marks we like to do our best in keeping the rental of your new home as simple as possible and below is some guidance on our process if you wish to Let a property through Alex Marks.

1. If you would like to offer on one of our available properties, we will require an email confirmation of your offer, including tenants employment status, move date,   price, terms of your offer etc

2. Once the email has been recieved, Alex Marks will endeavour to agree the terms of the offer with the landlord(s).

3. Once the offer is agreed, we require a holding deposit of 1 weeks rent to be paid via cash, debit card or BACs payment. The holding deposit will go towards your final balance of a 5-week security deposit (6 weeks if the rents is £50,000 or above per annum) and 1 per calendar months rent (weekly rent x 52 weeks / 12 months). This balance is payable to us in cleared funds prior to the agreed move date.

4. We will require tenants to provide Alex Marks with the following references, Previous landlord reference, 3 months bank statements, Employment or student status confirmation, payslips if required, and in person the tenants must attend our office with their original passports and Visas’s (if any) for Alex Marks to carry out their ‘Right To Rent’ checks.

For the avoidance of doubt the tenants if working must have a combined income of 2.5 times the amount of annual rent, so if the annual rent is £10,000 the tenants combined income must be £25,000 and where there are Guarantors required the Guarantors must be UK residents and have an income of 3 times the annual rent. Guarantors will be required to provide Alex Marks Ltd with 3 months bank statements, copy of passport and a utility bill. This can be done electronically

If you are a student, we will require you to have either a UK based Guarantor or University Guarantee. Alternatively rent can be paid in advance, please call us to discuss this further if you wish on 0207-078-7950

5. Once all references are complete our administrator will be in contact to arrange the signing of all relevant paperwork’s, payments and collection of keys.  

During the tenancy if there are any changes required to be made to the contract, on request from the tenant there will be a charge of £50 (inc VAT) per change. This may include a tenant change.
Alex Marks Ltd is a member of The Property Ombudsman and is a member of 'Client Money Protect' membership No: CMP003578