How to Close Your First Rent to Rent Deal:
Step-by-Step From Search to Signed

Before You Start Searching: What You Need in Place

Do not search for deals until you have these fundamentals in place:

• Your company registered — form your limited company at Companies House (£12, 24 hours online). You need a company to sign a Company Let Agreement
• A bank account — a business bank account in your company name. Many banks offer free business accounts for the first 12–24 months
• A solicitor identified — find a solicitor experienced in HMO law before you need them, not when you’re under time pressure. Have a brief introductory call
• Your deal criteria set — what type of property (HMO or SA), which city, what size, what minimum profit per month? Write this down before you start searching
• Basic knowledge of the numbers — be able to analyse a deal quickly using a simple cashflow model before you speak to landlords

Finding Your First Landlord Lead

For your first deal, use the highest-probability sourcing methods:

• Rightmove stale listings — go to Rightmove, search your target area, sort by ‘Oldest Listed’. Properties listed for 3+ weeks are your warmest leads
• Facebook Marketplace — search for rental properties in your target area. Private landlords listing directly are typically more motivated than those using agents
• Direct mail to HMO postcodes — find streets with known HMO density (check council HMO register) and send a short, professional letter

Contact at least 15–20 landlords before expecting a meaningful conversation. Most will not respond. Some will be curious. A few will be genuinely interested. The first deal typically comes from one of those few.

The Closing Process: From Conversation to Signed Contract

When you have an interested landlord, here is the closing process:

• Step 1: Viewing — visit the property to assess its condition, understand its potential, and build rapport with the landlord
• Step 2: Deal analysis — run your cashflow numbers. What is the maximum you can pay in guaranteed rent while achieving your target profit margin?
• Step 3: Proposal — present a simple written proposal: what you will pay, for how long, what you will do, what the landlord gets. Keep it to one page
• Step 4: Negotiate — agree the rent amount, the rent-free period for setup, the contract term, and the key clauses
• Step 5: Legal — instruct your solicitor to prepare or review the Company Let Agreement. Do not sign until the contract is legally reviewed
• Step 6: Sign and set up — sign the agreement, start the refurbishment, commission gas safety and EICR, apply for HMO licence if required