Landlord’s Guide to Renting

Our forward thinking and dynamic company aim to make your experience in renting your property as stress free and as “surprise free” as possible. The below guide is provided so that you know what to expect and when to expect it when you rent your property out through Richardsons.

What service do you offer for renting my property?

Richardsons has adopted state-of-the-art letting and agency software which means that our landlords receive an exceptional service with matching of potential applicants within minutes of your property being registered on our system. We provide regular updates on viewing activity and market your property via our website and other marketing tools in local media.

High quality photographs are all part of finding a tenant quickly as your property needs to present itself in the best possible light. Our in house photographer will give your property that special edge!

How much will it cost me to have my property rented out through Richardsons?

Our standard introduction fees for finding a tenant are equal to one months rent for lettings of 7 months or more, and half a months rent for shorter term lettings of 6 months or less. We offer other services to our clients including the supply and preparation of tenancy agreements, inventories, handling of utility accounts etc… which may be at additional charges. All fees are transparent and reflect the level of professional work that we carry out on your behalf. For further information please speak to one of our negotiators or contact us.

What are the benefits of having my property professionally managed?

An increasing number of tenants insist on renting only managed properties as this give them complete peace of mind that their financial and maintenance concerns for the property are looked after by a professional and member firm of the Royal Institution of Chartered Surveyors.

We provide landlord’s with the reassurance that your best interests are taken care of and that your tenants will be looked after to the highest professional standards. Your tenants will benefit from having a dedicated property manager to handle their day to day matters and we will communicate all issues to you as and when necessary.

Sometimes our landlord clients give authorisation to commit to necessary maintenance or repair expenditure up to £100, others wish to know the cost of every item before we go ahead. Whatever your requirements are we can provide you with the expert and professional service throughout the tenancy agreement period and which ensures that you will not fall in breach of any terms of the contract.

Aside to the hands on property management, we also offer protection to tenants that their deposit monies are held in a dedicated client deposit account and that they will receive their deposit back at the end of the tenancy, less any reasonable deductions should these be necessary via prior approval with the landlord. This is a major consideration to tenants as many need that deposit protection security which they cannot get when renting a non-managed property.

What advantages do Richardsons offer when compared to other agents?

Richardsons is a member of the Royal Institution of Chartered Surveyors and the level of service you receive when you instruct us to market you property is reflected that we hold this professional and international recognition.

We guarantee our clients that your property will receive the maximum level of marketing exposure and direct matching to our applicants’ database where we have hundreds of potential tenants looking for a property at any time. This is an extremely powerful and effective tool to reduce the void period of your property.

Our due diligence in obtaining references from applicants and our attitude to client care and handling of client monies means that you are in safe hands with us. We are one of the longest established estate agents in Gibraltar since 1979, so we won’t be disappearing anytime soon!

Do I need to have an Energy Performance Certificate for my property before renting it?

Do your services include Spanish properties?

Yes. We are specialists in the neighbouring Spanish regions including Sotogrande properties, Alcaidesa properties, Santa Margarita and La Linea properties to name a few. Please contact us for further information.

What steps do you take to check that the tenants are satisfactory?

When we have found you the ideal tenant(s) we will obtain 2 references for each tenant. One reference from their employer confirming that they are employed and earning sufficient money to pay the monthly rent, and a previous landlord’s reference to check that the proposed tenants do not have any unwanted track records. If necessary, we will also obtain a bank reference.

Does Richardsons hold the rent deposit or the landlord?

Where we manage your property Richardsons will hold the rent deposit in our client account. This is held as stakeholder on your behalf until the termination of the tenancy. We will require your authorisation prior to handing the rent deposit back to the tenants when they leave your property, and we also work on your behalf should any deductions need to be made prior to the deposit being returned.

Where we do not manage your property then the landlord will hold the deposit. Please be aware that this does not always appease tenants who tend to prefer for rent deposits to be held by an agent.

Do I need to have my property insured whilst it is rented out?

It is recommended that you have your property fully insured for fire, theft and other insured risk including buildings and landlords’ contents insurance if necessary. It is not a requirement to have your property insured.

I do not have an inventory of my personal belongings - can Richardsons prepare this for me?

Yes. Please request for this to be included as part of the service when you speak to our lettings negotiators.

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