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The Southcourt Letting Agency Training and Operating Manual
The Southcourt Letting Agency Training and Operating Manual covers in detail everything you need to know about starting a letting agency. We take you through the entire procedures involved in becoming a letting agent, including setting the agency up, marketing your services, taking on properties, creating and managing tenancies, running the business, the legal side and troubleshooting, plus everything else you will need to know.
Below you will find a summary of our 260 page manual contents list.
PREFACE
CONTENTS
INTRODUCTION
SECTION 1 - PREPARING TO TRADE
BACKGROUND TO THE BUSINESS
History
Recent developments
PLANNING & PREPARATION
Your business format
Your premises
Keeping accounts
Choosing a trading name
Insurance
Value Added Tax
Planning your working area
The forms and documents
Arranging printed stationery
Filing system
Diary
Keys
Business plan and forecast
Opening bank accounts
SECTION 2 - LOCAL RESEARCH
Listing local letting agents
Sourcing the information
Researching local rent levels
Sourcing the information
Fees and commissions
Sourcing the information
Fees to Landlords:
Fees to Tenants:
Learning from the competition
Practical demonstrations
Area familiarisation
Defining your working area
Identifying potential customer sources
Business Forecast
Research Sheet - Average Local Rental Levels
Research Sheet Existing Company Charging Structures
PRE START UP CHECKLIST
SECTION 3 - MARKETING STRATEGY
Personal service
Your unique selling point (USP)
Fees
Be competitive
Manipulating your fees - less can be more
Availability
Be contactable
Organise your communications
Optimise your telephone ‘image'
Additional incentives
SECTION 4 - PRACTICAL MARKETING
THE BOOST START ACTION PLAN
How to obtain your first tenant applicants
How to gain your first property instructions
Telephone marketing
ONGOING MARKETING
Passive or background marketing
Optimising your printed message
Press advertising
'Properties required' letters
Shop windows and other notice boards
Leaflet distribution
The Internet
Local area magazines
Directories
Monitoring your advertising response
Active marketing and promotion
The property lineage ad
Accommodation officers and property offices
Estate agents
Local radio
Word of mouth
Networking
Personal recommendation
Follow up business
Proactive marketing
Ringing the property out
House boards
Mailing lists
Explore deeper
Joint agency arrangements
Working for the tenant
Contact suitable establishments
Advertising the property
USING THE INTERNET
Your website
Property portal websites
Directory sites
Pay-per-click ads
SECTION 5 - TAKING ON PROPERTIES AND MEETING LANDLORDS
The event sequence
Services to landlords
Types of accommodation
Houses in Multiple Occupation (HMOs)
Types of landlord
The owner/occupier
The investor
VISITING THE PROPERTY
Meeting the landlord
Service required - 'Letting Only' or 'Letting and Full Management'
Completing the property description form
Viewing the condition of the property
Rental valuation
Giving advice and answering queries
Advising on the safety regulations - general
Landlord's Gas Safety Certificate
Energy Performance Certificate (EPC)
Furnished or unfurnished
Acceptable tenants
Specialised insurance products
Proof of ownership
Viewing arrangements
House board
Agency agreement
Management information
Check your register, or market the property
Thank you letter
Keeping the landlord informed
Unsuccessful lettings
SECTION 6 - REGISTERING TENANTS AND CARRYING OUT VIEWINGS
CATEGORIES OF TENANT
Professional/other working persons
Families
Students
Local Housing Allowance claimants (Formerly DSS claimants)
Asylum seekers
REGISTERING TENANT APPLICANTS
Qualifying the applicants
Registration details
MATCHING UP AND ARRANGING VIEWINGS
Considerations
THE VIEWING
Sensible security precautions
Carrying out the viewing
KA viewings
VBA's
Remember to take
Viewings record book
Dealing with negotiations
Maintaining your tenant applicant register
HOUSING BENEFIT CLAIMANTS
The risks
Reducing the risks
Recommended procedures
Local consultation
Landlord's approval
SECTION 7 - PRE-TENANCY PROCEDURES
The Holding (Reservation) Deposit
Tenant Application Form
Proof of identity
Proof of current address
Inform the landlord
Letting Progress Sheet
TENANT REFERENCING (VETTING)
Choice of referencing methods
More about independent referencing (method )
The choice of references (methods or )
Employer
Self-employed - accountant
Current landlord
Previous (i.e. once-removed) landlord
Character reference
Bank reference
Alternative proof of financial stability
Tutor or college secretary
Credit check
Minimum reference requirements
Verifying references, accepting or declining the applicant
Affordability of rent
Guarantors
Paying the entire rental upfront
Landlord's approval
Informing the applicant
THE INVENTORY
Preparation
Practical tips
Time and cost
Photography or video
Inventory clerks
TRANSFER OF UTILITIES
Action to take
The alternative...
RENTALS AND SECURITY DEPOSITS
About rentals
About security deposits
THE TENANCY AGREEMENT
The Assured Shorthold Tenancy (AST)
Preparing the tenancy agreement
PREPARATION OF THE PROPERTY
Making the appointment
Signing the tenancy agreement
Balance of monies due
Taking payments by credit and debit card
Handling the security deposit (Letting only service)
Handling the security deposit (Management service)
Tenancy deposit protection - prescribed information
The bank standing order
Tenant's financial statement
All systems go
Closing office work (Letting only)
House board
Stamp duty
How to use your bank accounts
Client account records
SECTION 8 - MANAGING THE PROPERTY
The work involved
GENERAL PROCEDURES
At The Commencement
Complying with health and safety requirements
Checking the tenant in
Office work after the check-in
During The Tenancy
Processing the rental payments
Periodical inspection visits
Maintenance and repairs
Work up to £
Work over £
Gas leaks
Ongoing compliance with health and safety requirements
Income tax liability - UK resident landlords
Income tax liability - Landlords resident overseas
Extending (renewing) an assured shorthold tenancy
Break (notice) clause
Easy renewal method
Terminating an assured shorthold tenancy
Notice by tenant
Notice by landlord - gaining possession
Deciding which route to take
The Housing Act Section route
Preparing the (Housing Act) Section Notice
How to ‘serve’ the Notice
Communication with the tenant
Initiating court proceedings
The Housing Act Section route
Rent increases
At The End Of The Tenancy
Pre check-out visit
The check-out
Deductions from the security deposit
SECTION 9 - IMPORTANT HEALTH AND SAFETY REQUIREMENTS
Gas safety
The requirements
Action to take
Furniture, furnishings and fire safety
The requirements
Action to take
Electrical safety
The requirements
Action to take
Smoke detectors
The requirements
Action to take
Housing Health and Safety Rating System (HHSRS)
Houses in Multiple Occupation (HMOs), and
The Management of Houses in Multiple Occupation (England) Regulations
General Product Safety
The requirements
Action to take
The Disability Discrimination Act
SECTION 10 - TROUBLESHOOTING
Late or non payment of rent
Unsatisfactory tenant
Tenant causing nuisance or annoyance
Abandonment
Tenant wishes to end the tenancy mid-term
Landlord’s failure to effect repairs
SECTION 11 - LEGAL KNOWLEDGE
Further studies
Legal updates
Legislation
Accommodation Agencies Act
Law of Agency
Agency agreement
The duties of an agent
The rights of an agent
Summary
The Gas Safety (Installation and Use) Regulations (amended and )
The Furniture and Furnishings (Fire) (Safety) Regulations (amended , and ), and other regulations
Electri
cal Equipment (Safety) Regulations , and other miscellaneous regulations
Building Regs, Part P - New electrical safety requirements
The General Product Safety Regulations
Protection from Eviction Act Section (& Housing Act Section )
Houses in Multiple Occupation (HMOs)
The Management of Houses in Multiple Occupation (England) Regulations
The Housing Health and Safety Rating System (HHSRS)
The Disability Discrimination Act
The Housing (Tenancy Deposit Schemes) Order
The Housing (Tenancy Deposits) (Prescribed Information) Order
Cost of Leases Act
Landlord and Tenant Act
Landlord and Tenant Act
Race Relations Act
Sex Discrimination Act
The Taxes (Management) Act , Finance Acts & , Taxation of Income from Land (Non-residents) Regulations
Housing Act , as amended by the Housing Act,
The assured tenancy
The assured shorthold tenancy (AST)
Tenancies which cannot be assured shortholds
Property Misdescriptions Act
Proceeds of Crime Act (Money laundering)
The Supply of Goods and Services Act
Unfair Contract Terms Act , Unfair Terms in Consumer Contracts Regulations , Office of Fair Trading (OFT) Guidance on Unfair Terms in Tenancy
Agreements, Nov
Data Protection Act
Home Information Pack (No ) Regulations ,
The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations
Contract Law
SECTION 12 - MAINTENANCE OF PROPERTIES
Condensation
Dampness in Basements
Symptoms
Cause
Dampness on Walls (At or near Ground Level)
Symptoms
Cause
Dampness on Solid Walls (Associated with Rainfall)
Symptoms
Cause
Dampness on Cavity Walls (Associated with Rainfall)
Symptoms
Dampness on Internal Walls (Associated with Rainfall)
Symptoms
Cause
Dampness on Internal Walls (Not associated with Rainfall)
Symptom A
Cause
Symptom B
Cause
Dampness on Internal Walls (Chimney Breasts)
Symptom
Cause
Dampness on Floors (Solid Ground Floors)
Symptoms
Cause
Dampness on Floors (Suspended Timber Floors)
Cause
SECTION 13 - TRADE SERVICES, SUPPLIERS, PROFESSIONAL BODIES & INFORMATION
Independent tenant referencing / credit checking Specialised landlords and tenants insurance including –
Professional indemnity (PI) insurance
Public liability insurance
Tenancy agreements
Specialised software
Professional associations for Letting & Managing Agents
Accreditation schemes
Further study / training / qualifications
House boards
Change of address notification service
Gas and electrical inspections
Help for landlords
Keeping up to date
Advice on starting your own business
Miscellaneous information
Landlords' associations
SOURCES OF FURTHER INCOME
Additional agency fees
Services, contractors and suppliers
Utility Warehouse
Bank or Building Society interest
Insurance sales commission
Joint agency arrangements
Estate agents
Financial advisers
COURSE EXAMINATION
Examination Questions
FURTHER TOPICS
Holiday lettings
Legal aspects
Regaining possession
Practical issues
Booking Form and Terms
Booking Deposit
Rental Payment
Cancellation
Arrival and Departure
Administrative issues
Council tax
Safety regulations
Taxation
Company lets
Legal aspects
Practical issues
Pros and cons of company lets
Lodgers, Licensees and Resident Landlords
Legal aspects
Resident Landlord
Types of occupier
Lodger/licensee arrangement
The excluded tenancy
The unprotected tenancy
Other considerations
Practical issues
Information for landlords
Examination Answers
SECTION 14 - DOCUMENT COMPLETION EXAMPLES & STANDARD LETTERS -
Posted: October 2011
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