Key Derivatives of "To Let"
| Term | Meaning | Implication for Tenant |
| To Let | The property is currently available and actively being marketed for rent. | Action Required: Call immediately to arrange a viewing. |
| Let Agreed | A tenant has been found, and the offer has been accepted. The legal process (referencing, paperwork) is underway. | Caution: The property is effectively off the market. Do not call unless you are offering significantly more, or the deal falls through. |
| Let By | The tenancy has been finalized, the contract signed, and the keys have been handed over. | No Action: The property is occupied. The sign usually remains up temporarily as a form of advertising for the letting agent. |
| To Let: PCM | "Per Calendar Month." This specifies that the advertised rent figure is the monthly cost. | Financial Clarity: This is the standard way rent is quoted in the UK and Ireland. |
| To Let: Furnished | Indicates that the rent includes major furniture (beds, sofas, tables). | Logistics: You may only need to bring personal belongings. |
| To Let: Unfurnished | Indicates the property is provided empty, save for fixtures (like kitchen units and bathrooms). | Logistics: You will need to provide all your own furniture. |
The Agent's Advertising Strategy
For a letting agent, displaying the progression from "To Let" to "Let Agreed" and finally "Let By" is a deliberate marketing strategy:
- "To Let" generates leads for that specific property.
- "Let Agreed" shows the agent is effective and moving properties quickly, building confidence with potential landlords.
- "Let By" acts as a permanent advertisement for the agent's brand, showcasing their success in the local area.
Therefore, when you see a "To Let" sign, always look for those smaller banners underneath—they tell you the precise status and whether the window of opportunity is still open.