Talk through the process for letting an asset.
- Receive instruction, understand client needs & and objectives, and ensure you are competent to proceed.
Check for COI in line with s21 of the Estate Agent Act and AML if new client
2.Due diligence - Review tenant information, such as plans and titles and planning information.
Inspection & Measurement
Market research, including location, asset, and comparables, to determine market rent
3.Issue ToE (property, market rent, fees, scope of works, limitations, assumptions, method of sale, marketing strategy, use, planning, complaint and termination clauses) in line with s18 of the Estate Agent Act
4.Marketing - as an agent, I would create brochures for a client, I would check with the client to ensure accuracy and no material omissions, which a tenant may rely on to enter into the contract in line with the Misrepresentation Act and Consumer and Business Protection regulations. Recommend method of sale and strategy (social media, Rightmove, network, boards).
Arrange viewings.
- Negotiate rent, terms, incentives, breaks, and deposit.
Relay offers promptly in line with the Estate Agent Act 1979
6.Once offer accepted, conduct financial checks and AML
.Prepare HoT
- Liaise with solicitors to agree to contract and issue engrossments to exchange & completion.
- Arrange handover (keys, meter readings, statutory documents & O&M manuals)
Update systems (if client)
What is a Calderbank letter?
An unconditional offer to settle a dispute on specific terms without prejudice save for costs.
It protects your position if going to court.
What does without prejudice save as to cost.
Not to be disclosed in court save for the costs when the Arbitrator arrives at awarding costs.
