Interview with Giovanni Annunziata, lettings negotiator at Engel & Völkers in Chelsea.
Today we are sitting down with Giovanni Annunziata our lettings negotiator at Engel & Völkers in Chelsea about top questions asked by tenants, tips to let their house more effectively and much more.
You are a lettings negotiator at Engel & Völkers in Chelsea and know the lettings market in London very well. Every day you get in contact with loads of applicants who are interested to rent a property with us in Chelsea, Kensington and Belgravia. When do applicants start looking for a property in general?
Giovanni: Depending on the type of applicant this can vary between a year to next day.
From your experience, what are the top frequently asked questions?
Giovanni: Applicants tend to ask questions with regards to how flexible might the landlord be on price. Then they ask what the average up keep costs for the property are, how close the property to good transport links is and the property’s orientation. These tend to be the questions applicants ask outside of the standard ‘how many bedrooms, sqft etc…
What is the procedure after the viewing, when an applicant has agreed to put an offer on a property?
Giovanni: Once the applicant has found the property they like, they will need to fill in an offer form and attach copy of documents for the negotiator to bring the offer up to the landlord. Once the offer has been accepted, the applicant will need to make a two-week up-front payment, this will be considered a ‘show of intent’ and will allow the negotiator to begin the proceedings with regards to referencing and the drawing up of the agreement.
What tips would you recommend letting a property more effectively?
Giovanni: Good pictures to generate online activity and physical inquires. Agree on a realistic evaluation of the property with the landlord to maximize exposure and interest.
How can you spot a time waster?
Giovanni: In this business, there is no such thing as a time waster, however you can easily scan through applicants by asking their needs and matching it to their budget. In the prime central London market people need to be realistic about their expectations.
How do you keep up-to-date with latest legislations?
Giovanni: Personally, I tend to devote 10-15 mins a day to read through relevant newspapers. This allows me to keep up to the everchanging environment we work within.
Which things should a tenant check before signing the contract?
Giovanni: The tenant needs to make sure that he is happy with everything stated in the contract, this means going through the whole contract and making sure it matches what was agreed. Understand the clauses stated and making sure that the conditions of the offer if any are included in the contract.
What happens after letting the property?
Giovanni: The agency can and should keep the property on its online and physical portals, this will allow for further marketing of the property and can help to generate further interest and more applicants for the company.
When is the best time to put a property on the market?
Giovanni: Like most industries, the property market is a seasonal one. The busiest months for lettings tends to be the summer months, therefore leading to Easter and throughout the Spring and Summer tends to be the best time to have your property on the market. This will allow maximum exposure and generate the highest interest.