Step 5 : Tenant Screening - check your tenant's status

Once you have found your tenant we recommend you use our Tenant Screening Service to check their status.  This service includes:

* Credit check on all tenants over 18
* Employer or accountant reference
* Landlord Reference (where applicable).

Step 6 : Organise Inventory/Schedule of Condition

In order to comply with legislation regarding the way deposits are now held, it is very important that a detailed Inventory/Schedule of Condition accompanies your Tenancy Agreement.

If a claim is to be made against the deposit at the end of the tenancy, a detailed inventory will be essential for the claim to be successful .

Use our specialist Landlord inventory services to prepare your inventory.  All inventories are carried out by experienced clerks.

Step 7 : Organise Tenancy Deposit Scheme

Can I still let my property and keep the deposit NO!

From 6 April 2007, all deposits (for rent up to £25,000 per annum) taken by landlords and letting agents for Assured Shorthold Tenancies in England and Wales, must be protected by a tenancy deposit protection scheme. Within 14 days of taking the deposit, you must provide your tenant with details of how the deposit is being protected.  There are two types of tenancy deposit protection schemes available for landlords and letting agents (insurance-based schemes and custodial schemes). All schemes provide a free dispute resolution service.  We recommend that you visit http://www.direct.gov.uk/en/TenancyDeposit for further information on available schemes.

Step 8 : Prepare a tailor-made residential tenancy agreement

It is vital that a Landlord uses an ARLA approved tenancy agreement  which is up to date and covers all the latest letting legislation.  We recommend the use of our ARLA approved tenancy agreement.

Further consideration

A few other aspects you should consider before and on the day of the tenant signing the tenancy agreement:

* provide meter readings to all utility companies and inform the local council, tv licence department and water company that the property is now let
* inform insurance companies (buildings/contents) that property is being let;
* provide details to tenant of the chosen Tenancy Deposit Scheme;
* provide copies of safety checks to tenant;
* ask tenant to check and sign inventory;
* organise future rental payments (tenant should set up standing order);
* obtain deposit and first months rent and signed tenancy agreement before handing over keys.
* remember to keep accurate records of rent received and any expenditure;
* consider speaking to a tax specialist/accountant to confirm if your tax status will be affected in any way by renting your property out and any action required;

Consider if you require rent or legal protection insurance at the time of screening your tenant(s).