Management - Information for Landlords

If you are considering renting your home there are probably a number of questions that you have. We have answered some of the most common questions below along with details of our services.

• If you are interested in letting your home, please contact us now.

• If you do not have time to read this page and would like a copy sent to you, please contact us now to request so.

 

Choosing your management/letting agent.
Your agent will be looking after a valuable asset. You need to have confidence in them, both at the time of letting and throughout the rental period.

 

Full Management Service or Introductory Agent
We can offer a full management service for 1 fee with all the expected services included such as maintenance repairs, advertising boards, tenant liaison, and so on. Or we can act as purely an agent in return for a finders fee.

 

Furnished & Unfurnished letting's
...are covered by the present legislation and we can advise on either type of letting. Furnishings must be of good quality and MUST comply with The Furniture & Furnishings (Fire) (Safety) Regulations 1988 (As Amended): Rented Furnished Accommodation.

 

Peace of mind.
Applicants wishing to proceed, who seem acceptable, are referenced before commencement.

 

Insurance.
You MUST notify both your contents and buildings insurers of your intent to let your property.

 

Mortgaged & leasehold property.
If your property is mortgaged, or leasehold, you MUST obtain your Lender’s and Lessor’s permission to let the property. Many tenants will require proof of this.

 

Income tax.
Income arising from the letting of your property is assessable for tax, even though you may be regarded as being a non-resident in the UK for tax purposes. Certain expenditure incurred is allowable. If you are resident abroad during the let period, we (or your tenant if no agent instructed) are obliged to deduct and retain and pay tax quarterly at the standard rate until the Inland Revenue confirms liability for the year in question has been cleared or an Exemption Reference has been granted. We suggest an Accountant be appointed in these circumstances to minimize your liability.

 

Landlord’s repossession.
Should not present a problem provided the correct steps are taken. We will be pleased to advise on this aspect. To obtain possession, it is important the Notice to Quit or Notice of Intent to Repossess is served at the correct time and in the proper form.

 

Tenancy agreements.
Most tenancies, except for Company lets, are given under a fixed term Assured Shorthold Agreement (usually a minimum six months), at the end of which, subject to notice, or agreed extension, the tenant must vacate the property. We usually prepare the Tenancy Agreement and relevant Notices for the letting. However, we will only sign as Agent on your behalf where you have formally asked us to do so by completing our Client Instructions to Agent Forms. We will advise on the type of Agreement/Notice required given the relevant circumstances.

 

Rents.
We advise on a market rent when our initial inspection of the property is made. Our opinion on the rental figure will be based on experience of current market trends and will take into account numerous factors, such as location, condition and presentation of the property. Rental opinions between Agents may differ slightly, but if more than one are instructed, it is important that we all offer the property at the same rent.

 

Letting & rent receivable.
Private tenants pay rent monthly in advance to us. This means we are able to monitor payments closely, arrears can be quickly spotted and the necessary steps taken for recovery. We receive payment for housing benefit tenants one month in arrears.

 

Accounting (Letting & Rent Receivable& Full Management).
Computerized rental statements of account and payments to the Client are prepared and payments made monthly as soon as practical after receipt of rent. Payments are usually by electronic transfer or by cheque. All Clients’ and Tenants’ monies are held in Client Accounts separate to the Firm’s accounts. Fees are subject to VAT and are payable on invoice or by deduction. We use a personalized dedicated property management software application enabling us to manage our/your accounts with maximum efficiency.

 

Utility services & local authorities.
Where possible, we will arrange for the council tax, water rates, electricity and gas accounts to be transferred into the Tenant’s name. We are not usually able to deal with the telephone service.

 

Repairs (Full Management only).
We undertake and will with this authority arrange for minor and emergency repairs to be carried out as and when necessary. If there is a major item of repair, unless an emergency, we would seek your specific authority and advise if there is a possibility of claiming against the Buildings or Contents Insurance Policy. All Contractors will be instructed by you, either directly, or through ourselves, and their invoices will be for your account.

 

Homecover.
Your home is likely to be your biggest asset, so it makes sense for you to protect it.

 

Maintenance agreements.
Major appliances including plumbing and heating, should be left in good order and, where possible, be covered by maintenance agreements. Landlords are expected to maintain any items supplied with the tenancy and, in some cases, are required to do so in law, especially with regard to the Gas Safety (Installation & Use) Regulations 1994 and the Electrical Regulations. These regulations apply to both appliances and fixed installations. We should be advised of all items covered by guarantee.

 

Deposit.
1) We will obtain a deposit from the tenant, which will usually be paid into the TDP scheme.
2) We will take 2 times monthly rental instead of deposit, thus paying in advance for the final month of the tenancy.

 

Inventories.
An inventory of contents, including a schedule of condition of the property are available on request. We normally find photos are just as effective.

 

Postal arrangements.
You should inform the Post Office of your change of address. We will forward to you any personal correspondence passed to us, but we cannot guarantee that the tenant will hand over mail once he has taken possession.

 

Gardens.
Generally, the Tenancy Agreement provides for the tenant to maintain the garden, although this does not usually include pruning trees or large hedges. The garden should therefore be handed over in good order and appropriate tools and equipment must be provided for the tenant to maintain it. If other arrangements are to be made, such as a part-time gardener, mention will need to be made in the agreement; we would only supervise this as part of our periodic inspections (Full Management only).

 

General experience.
From experience, we find that tenants often do not look after your home as if it were their own and we remind you, therefore, that on your return you should expect some wear and tear, especially after a long period.

 

It is also important that the property is well maintained and in good condition, to attract the right applicant.