A brief guide for Landlords
Services
We offer two levels of service to residential Landlords:
Letting Only
This service includes the marketing of the property, appropriate advertising, carrying out accompanied viewings, the introduction of a suitable tenant, obtaining references, and preparing the Tenancy Agreement and the Inventory.
We collect the Initial Payment, ie. the advance rent and the security deposit, and these will be credited to the Landlord after the deduction of our agreed fee.
Management of the Tenancy, including maintenance, protection of the deposit, checking-in and checking-out of the Tenant, and collection of the rent, will be the responsibility of the Landlord.
Full Letting and Management Service
This includes all of the services listed above.
In addition we will hold the deposit as stakeholders according to the terms of the Tenancy Deposit Scheme, receive the rental payments on behalf of the Landlord, forward the net rents to the Landlord, prepare and submit regular statements, pay out (from the rent received and when instructed) any outgoings such as ground rent and service charge, deal with any day-to-day maintenance matters including minor repairs (liaising with you in case of larger works), and also undertake periodic inspections of the property, reporting any problems to you. We will also take care of checking-in and checking out the Tenant, and renewing the Tenancy Agreement as necessary.
This service also includes a free Energy Performance Certificate (EPC) - legislation requires a rental property to have an EPC for all tenancies commencing after 1 October 2008 and if one is required, we can produce one and credit the fee only when we let and manage the property.
Tenancy Agreement
The minimum letting period is six months. However, a typical tenancy will be for an initial period of one year with the agreement having a break clause allowing the Tenant or the Landlord to terminate the tenancy after six months. The notice period for a Tenant to terminate their tenancy is one month (including to break the tenancy at the six month point), and the notice period for a Landlord to terminate the tenancy is a minimum of two months.
Security Deposit
This is held to cover against any damages or breakages (over and above normal wear and tear), missing items and any other liabilities incurred during the tenancy. It will be returned at the end of the tenancy, less any deductions. All deposits taken by us will be protected according to the terms of the Tenancy Deposit Scheme.
References
We apply for references on all prospective Tenants.
Inventory
We will draw up an inventory and conduct a check-in of the Tenant at the start of a tenancy (and a check-out at the end). Without a proper inventory it is very difficult to make any kind of claim against the deposit for damages, breakages or missing items.
Tax
Income tax is payable on rental income arising from a property in the UK. It is the responsibility of a Landlord to declare their income when completing their annual tax return.
Insurance
It is the Landlord’s responsibility to insure their property and any Landlord fixtures, fittings & contents during a tenancy. A Landlord should always inform their insurers that the property is to be let as this may affect the cover and/or premium. As an extra service we can assist with obtaining Buildings and/or Contents insurance for you. Leasehold properties usually include the buildings insurance as part of the service charge, but we would advise all Landlords to check with the Freeholder/Superior Landlord or Block Management Company.
Gas Safety Regulations
It is the Landlord’s responsibility to maintain the gas appliances (if any) at a property. It is also a requirement that a safety check is carried out prior to any tenancy and annually thereafter for as long as the property remains let. We will not let a property until we are in receipt of a copy of a current Landlord’s Gas Safety Record. A copy of this should be left in the property as well.
Fire and Furnishings Regulations
It is an offence to furnish a let property with furniture and furnishings which do not comply with these regulations. This is the Landlord's responsibility.
Decorations
We would recommend that a property should be offered in good condition and any decorations required are carried out prior to marketing. As an extra service we are able to assist Landlords if necessary.
Energy Performance Certificates (EPCs)
If you are thinking of renting-out your property, or if you are already a Landlord, then legislation requires a rental property to have an EPC for all tenancies commencing after 1 October 2008. As an extra service we will produce the EPC, and if we let and manage the property we will credit the fee to the Landlord.