Take a look at how our Let Only process works.

 

You Contact Us

You can get in touch either by entering your details below, sending an email to hello@vestalettings.com or by calling us.
We get to work the moment you make initial contact by assigning one of our qualified agents as your single point of contact.

Initial Market Appraisal

Using the key information, you provide us, we take market data from the local area of your property and add it to a wealth of property knowledge to come to a realistic rental valuation.

Initial Lettings Advice

The information you provide us will enable our qualified agents to tailor advice to your specific needs. This also includes advice for non-resident landlords, if you happen to live outside the UK.

Terms of Business

If you decide to proceed, we will send you a pre-populated Terms of Business, which outlines each service fully, and can be signed and returned to us digitally for complete ease.

Check or Arrange the Energy Performance Certificate

There is a legal obligation to already have or to commission an EPC before marketing can begin. If you already have a valid certificate, we will ask you to supply this so that we can use it in preparing marketing materials. If you do not have a valid certificate, we will arrange this for you.

Prepare Marketing Materials

All the specific details about your property are then prepared which includes images, a description, floorplans, and the EPC rating plus more.

Basic Legionella Risk Assessment

During the visit to prepare the marketing materials, we will assess the risk of legionella in the building and advise if further assessment or works should be carried out to mitigate the risk.

Safety Checks

Around this time, we will organise any necessary safety checks and certifications so that the property is deemed safe before we invite people to view. This will involve an electrical installation condition report, portable appliance testing, fire alarm testing, carbon monoxide (CO) alarm testing and an advanced legionella risk assessment if applicable.

Advertise the Property

The hours of work to this point are packaged together into our online format and posted on major property portals to ensure your property has the audience it deserves. We will also make people within our existing Applicant Database aware of your property coming to market, which should create immediate interest in your property.

Accompanied Viewings

All potential applicants are vetted by us to determine the suitability for you. The successful applicants are then given a guided tour by an agent who will feedback on any comments.

Extensive Tenant Information

We ask each applicant to populate an application form which will ask them to provide all the information we should need from them.

Holding Deposit

Your chosen applicant will be asked to supply a holding deposit of one weeks' rent which we will secure within our Protected Client Money Account.

Tenant Referencing

Each applicant undergoes tailored referencing, which is based on the agreed rent and their income, by using the power of Open Banking and Experian Credit Checks.

Our check goes further by verifying previous rents paid over the past 12 months, employment status and references from their employer and current landlord.

These checks are a key part of our due diligence process on your new Tenants, but it is important to keep in mind that situations can change, and you should keep a contingency fund to hand to mitigate your risk.

Right to Rent Checks

We carry out your legal obligation under the Immigration Act to ensure that the applicants have the Right to Rent in the UK. We will supply this evidence to you in case you have further checks to do at a later date.

Tenancy Agreement

It is very important to have a legally binding contract drafted between you and the Tenant. We draft the agreement for you and once all parties are happy then begin the signature loop which is completed online to save time and reduce hassle.  Once the Tenancy Security Deposit and the First Months’ Rent are received, the final document is then dated and sealed then shared with all parties on the agreement.

Tenancy Security Deposit

The typical Tenancy Security Deposit of 5 weeks rent is taken and held within our Protected Client Money Account.  Once the Tenancy Agreement is signed this is then transferred to your nominated Deposit Protection Scheme Account, either with The Deposit Protection Service, MyDeposits or the Tenancy Deposit Scheme.  The money is securely held here until the end of the tenancy where it will then be returned to the Tenant unless there is a dispute.

Collect and Remit the First Months Rent

Your Tenant will be instructed to set up a standing order using the details you provide as your preferred bank account. This will begin from the second term of the tenancy to give them time to make the arrangements.  The first payment is made to us at the same time as their Tenancy Security Deposit. 

This measure helps ensure that Tenants are protected from 'Rogue Landlords' and also ensures that you do not enter into an agreement without first securing the agreed amount.  We then remit the Rent payment to you (minus our fee).

Inventory

Inventories are an essential part of any tenancy set up for both the Landlord and the Tenant. It provides the bulk of the evidence required if there were ever a dispute for damages.  Because of this, we strongly encourage you to allow us to provide a professional inventory of your property.

Check-In

Your new Tenants are met at their new home by an agent, given their keys and provided their check-in documents such as the Governments 'How to Rent' Guide, a copy of the Energy Performance Certificate, plus any further information.

They are given any on-site safety advice for things such as smoke detectors and CO alarms. 

This is also the time for the Tenants to walk around the property and sign-off the inventory report, if applicable.

Any snags by the Tenant are handled at the time and are recorded then digitally signed so you have evidence for your future records.

Hand Over

The property is now handed back over to you for on-going management and rent collection.

Enquiry for:

How It Works

If you are looking for more information or would like to book a viewing, please get in touch below.