Guide to Letting Your Property

It's a big decision to trust someone with your investment. Here's the insight you need to be confident in your choice.

It's a big decision to trust someone with your investment. Here's the insight you need to be confident in your choice. Paramount Properties

Your property needs are as unique as you are, so make sure that your chosen agent provides all of the services that you'll need over the lifetime of your property.

What are people saying?

See what other people are saying about your agent of choice. Do they have a good base of legitimate reviews from happy Residents and Owners on a trusted third party review platform like Google?

For example, many of our new Owners choose us based on our nearly 800 positive Google reviews!

It's also important to look through the agent's own website to get a sense of what they value. Give them a call to ask them about what they can do for you in the short, medium, and long term.

Why should I be looking out for the ARLA Propertymark logo?

The lettings industry is unregulated. This means that anyone can set up a lettings business. Imagine trusting one of the biggest investments of your life with an agency that isn't required to maintain any kind of standard!

This is why you should be looking for the ARLA Propertymark accreditation. This means that your agent commits to have their accounts audited annually, have a client money protection (CMP) scheme in place, maintain the highest standards in the industry and provide exceptional customer service.

It also means that they regularly update their professional property knowledge so you can trust their expertise. 

Booking a valuation

Once you've made your selection, it's time to book a valuation. No two properties are the same, so a lettings consultant will need to view your property to conduct a full rental valuation.

And if you're unsure whether to sell or let your property, we can arrange for a sales consultant to value your property at the same time!

What is my property worth?

There are many factors that our experienced consultants take into account when conducting a full rental valuation.  We consider the location, age of the property, amenities, quality of construction and the current market to let you know what your property will let for. Tell us about any additional benefits your property has and we'll highlight what we think are the key features. We can also advise on how certain improvements can affect your rental yield.

Marketing & Viewings

The next step is to market your property. At this stage, it’s critical that your agent is doing everything in their power to make your property stand out to the best future Residents.

At Paramount, we've developed a new style of Virtual Tour that is interactive. It allows a person to guide their own tour through your property based on what's most important to them. Click into one of our available properties to experience it for yourself! 

Because of these tours, nearly all of our properties are now let without the new Residents ever setting foot inside the property!

Not only can they quickly and easily compare properties when it's most convenient for them, we also make sure to include all of the information within the video that Residents have told us they need to make a decision.

We've also broken free of the run-of-the mill agent template of online marketing. Our properties are marketed on our website with reviews from previous Residents, information about broadband, and detailed information about furniture included. Of course, we make sure that your properties shine on all of the major advertising portals that Residents visit, including Rightmove, Zoopla, OnTheMarket and Movebubble.

We also offer exciting incentives to become a Paramount Resident, including our new Paramount Perks program! Our Residents automatically gain access to a wide variety of premium discounts for major brands (and some local ones too!) for the duration of their tenancy, at no extra cost to you. For us, it's important to build relationships and keep great tenants in our network!

Offers

When someone sees your property as a perfect fit for their next home, we will work with them to create an offer for you. At this point they may have requirements, such as the removal of furniture or remedial works. We will discuss each offer with you until you find one that's just right. 

Referencing

Next, our Move In Support Specialists guide your future Resident through our careful referencing process to make sure that all of the information they initially provided to us is correct. We also ensure that they meet the affordability requirements for their new rent.

Tenancy Deposit Scheme

Once terms have been agreed with your new Resident, it is a legal requirement for their rental deposit to be entered into a deposit protection scheme. We can register the deposit for you with the Tenancy Deposit Scheme (TDS). 

Have you considered Property Management? 

Let us do the work. We'll make sure your property and Residents are taken care of so you can focus on what counts. See a break down of our Property Management service here

Letting


Term Letting fee including rent collection (per term)
Year 1 12% inc VAT
Year 2 9.6% inc VAT
Year 3 onwards 7.2% inc VAT

Services  
Deposit registration admin cost £42 inc VAT

Property Management

Management is charged at an additional 6% inc VAT per term.


Services  
Ad-hoc inspections £54 inc VAT

Services NOT charged for but provided by Paramount

Paramount will not charge you an additional fee for organising, administering or providing any of the following services. 


Any costs are direct charges from the suppliers themselves:

  • Compliance
  • Inventory checks
  • Renewal tenancy agreements
  • Arranging maintenance or tenancy preparation works before the start of a tenancy

Payment

Paramount accept the following methods of payment (Late payments will be charged at 3% above the Bank of England base rate):

  • BACS
  • CHAPS (£30 inc VAT per transaction)