Leasing and Letting Level 2

Question 1

Talk me through a typical lease/letting as per your bullet points.

Answer 1

• Any necessary marketing
• Assessing application forms
• Gathering contact details
• Performing viewings
• Valuing and negotiating the rent for the property with both the Council and the tenant
• Drafting and agreeing Heads of Terms
• Performing financial checks
• Advising Senior Management and seeking Authority to Proceed
• Creating the Schedule of Condition
• Ensuring the property is fit to let i.e., satisfactory EICR, EPC, Gas Safe etc
• Agreeing and completing Tenancy at Will’s if necessary
• Reviewing draft lease documents and answering tenants’ questions where necessary
• Performing the handover to the tenant and completing a new tenancy inspection
• Informing the Finance department as to the new let and providing them with the details to set up the new account and start invoicing the tenant
• Informing the Business Rates team of the new let
• Performing rent reviews and providing valuation advice and recommendations when appropriate
• Performing lease renewals
• Organising the vacation of tenants from properties, either at the end of their terms or through surrender of their leases

Question 2

Unit 8 Manvers - What relevance had your understanding of the market to this letting?

Answer 2

Referring to the Business Parks the council owned and managed in the area as well as their rents and how much demand there was and for what types of businesses.

Question 3

Unit 8 Manvers - Was it ethical to persuade the party to take your unit over another they had seen?

Answer 3

Yes, I work for the council who are my client. I didn’t falsely persuade them. I used the truth and gave honest opinions.