Do I need an Agent?
There is nothing to stop a Landlord letting a property without an agent. However, there are many legal requirements that a Landlord has to adhere to and failure to comply with these may result in criminal prosecution. Our staff are trained to understand the requirements and have systems in place to ensure they are complied with. We have facilities to properly vet a potential Tenant, allowing you to make the right choices.
What sort of Agreement do I need?
There are several different types of agreement that could be used depending on the circumstances of the tenants, the Landlord and indeed the property. In the majority of cases it will be what is called an Assured Shorthold Tenancy for a fixed period of at least 6 months.
What about a deposit?
We take a deposit equal to five weeks rent.
How will the rent be paid?
In most cases a standing order will be set up from the tenant’s bank account and the rent will be paid in advance. Our computerised systems means that once the monies have ‘cleared’ through the banking system, we will then pay the rent by BACS directly into the account of your choice. A detailed statement of account will then be forwarded on to you as part of our service.
What will be my outgoings?
These will include:
When the property is empty you will be responsible for all utilities and services
Am I responsible for Tax?
You will be liable to pay tax on any profit generated from letting your property, the amount of tax you pay will depend on your circumstances. If you are overseas for more than six months in any tax year, you will be regarded as a non-resident Landlord. The current legislation requires us to deduct and pay over to the Revenue tax at the basic rate unless we are in receipt of an exemption letter from the Inland Revenue. Once we are notified by the revenue that you are exempt, we will no longer need to deduct tax. Please note that where there are joint Landlords (including married couples) an exemption is required for each Landlord. We will be happy to discuss these arrangements with you.
Do I need to inform my Insurance Company?
Yes – most certainly, otherwise you may find your insurance is invalid.
What am I responsible for repairing?
As a Landlord you have a legal obligation under the Landlord and Tenant Act 1985 to maintain the structure of the building, the sanitation and the supply of services. In addition, should an item in the property require replacing or repairing through fair wear and tear then you would be expected within the terms of the Tenancy Agreement to deal with this.
Are smoke alarms required?
Smoke alarms have to be installed in any new building or conversion. Smoke alarms have to be fitted on each floor of the dwelling, we recommend heat sensors in kitchen areas.
What happens if the tenant doesn’t pay the rent?
As part of our service we endeavour to ensure that the rent is paid on time. Having carefully elected the tenant in the first place, there’s unlikely to be a problem. However people’s circumstances do sometimes change during a tenancy and if the rent is not paid we’ll advise you on the appropriate course of action. We can also offer you for a small fee a rent guarantee policy to give you complete peace of mind.
What happens when the property is empty?
You must advise your insurance company in accordance with their requirements regarding empty property. Please check your insurance policy for the relevant details.
What should I do if my property is leasehold?
The managing agents or freeholders need to be advised as this may affect the buildings insurance. You should obtain consent prior to letting and advise us of any restrictions within the head lease which your tenant should be aware of.
Who takes care of the garden areas?
The maintenance and upkeep of the garden is usually the responsibility of the Tenant. however, should you have a particularly large garden or any precious plants then it may be advisable to arrange for a gardener- the cost of which should be incorporated in the rental value. It is advisable to provide the materials for maintaining your garden even if the property is unfurnished.
Do I need to provide furniture?
No, in most cases we have found that there is very little difference in rental values between furnished and unfurnished lettings. We will advise you on the most appropriate option for your property. An unfurnished property would require carpets, curtains and usually white goods (however, any white goods left do need to be maintained by yourselves). The requirements for a furnished property can vary depending upon the style and location of your property.
Are smoke alarms a legal requirement?
Smoke alarms have to be installed in any new building or conversion. We would strongly recommend that you install at least one alarm per floor of your property, regardless of age.
What responsibilities do I have regards repairs?
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