Landlords

Letting Information

Landlord's Check List

Statutory Regulations

 

Letting Information

Tenant Referencing

We employ a specialist referencing agency to carry out detailed checks on prospective tenants, including:

  • Credit reference check
  • Employment status and income/rent ratio
  • Previous Landlords reference

Deposit

Tenants are required to pay a security deposit (usually equal to one month's rent plus £200) at the start of their tenancy.

All deposits are held by The Deposit Protection Service in compliance with the Housing Act 2004. Detailed information is available on their web site www.depositprotection.com

Inventory and Schedule of Condition

Preparation of a detailed Inventory/Schedule of Condition, we consider to be absolutely essential. This may obviate disputes at the end of a tenancy and provide the necessary back-up if deductions need to be made from the deposit refund, for damages or missing items. Photographic records will also be kept.

Rent Payments

Rent is payable monthly in advance.

  • Full management service - we will collect the rent and account to you as agreed (usually monthly). Rent is paid into your bank account or forwarded on to you within ten working days of receipt of the tenants payment.
  • Letting service only - first months rent will be collected and passed on to the Landlord less fees due.

Tenancy Agreement & Notices

A Tenancy Agreement will be prepared for tenants to sign before moving into a property.

In most cases, we recommend an Assured Shorthold Tenancy, usually for a minimum of six months. If you require the property back at the expiry of the tenancy, notice must be served at least two months before the expiry date.

You may agree with your Tenant to allow the tenancy to continue after the initial six months.
We will attend to serving the Tenant with the appropriate legal notice to bring the tenancy to an end, on receipt of your instructions.

Transfer of Services

For those Landlords who opt for the full management service, we undertake to advise the various service suppliers of meter readings and changed account responsibility for:

  • Gas, electricity and water rates - these usually become the responsibility of the tenant
  • Council tax - we will advise the local authority

Legal Action

We strongly advise taking rent guarantee and legal expenses cover, and we can assist you in this regard. Despite thorough referencing of prospective tenants, there is always some element of risk of tenants proving unsatisfactory and this can be due to a change in their own circumstances e.g. divorce, redundancy etc.


Landlord's Check List

Mortgaged Properties

If your property is mortgaged to a Building Society, Bank or other lender, your mortgage deed will almost certainly require that the lender's written consent be obtained before letting the property. You must therefore apply to them for the their consent to let.

Leasehold Properties

We advise you to check with the freeholder:-

  • For any restrictions, preventing you from letting the property without their consent
  • For any covenants with which Tenants must comply during their tenancy

Insurance

You will need to ensure that the property and its contents (if furnished) are adequately insured.

Your insurance company must be advised that you propose letting your property - failure to do so could result in you loosing your cover.


Income Tax

UK Resident Landlords - Income received from letting your property, will be subject to income tax and you will need to include details of the income and allowable expenses, including any repairs, when completing your tax return.

Non-UK Resident Landlords - If you are already resident abroad or intend residing outside of the UK, as your agent, we will be required by Inland Revenue, under the Finance Act 1995, to pay the tax liability that arises from rent collected - unless you are entitled to receive rent without deductions of tax, and your Inland Revenue approval is lodged with us.

Mail Redirection

The Post Office redirection service avoids the probable delay and possible non-receipt of redirected mail, should you rely on incoming tenants, who initially may concentrate on other issues, and we would recommend the use of this service.

Keys

We will need at least three complete sets of keys for your property - two for the incoming tenants and one for retention at our office.


Statutory Regulations

The following is a brief guide to the statutory regulations pertaining to rented property. We cannot over emphasise the importance of strict adherence to these regulations, to ensure the safety and protection of your Tenants and their own property, and your peace of mind.

Fire and Furnishings (Safety) Regulations 1988 & 1993

These regulations apply to any furniture which is upholstered and which was manufactured after 1st January 1950. Each item must carry a permanent label denoting that it is fire resistant.

Gas Safety (Installation & Use) Regulations 1994 & 1996

These regulations state that Landlords must have all gas appliances and flues at their properties checked by a registered installer, approved by the Health & Safety Executive, to ensure that an appliance is maintained in a safe condition so as to prevent the risk of injury to any person.

The registered installer is currently a Gas Safe registered engineer.

Checks on the safety of appliances must be carried out on an annual basis and all Tenants must be given a copy of the valid gas safety certificate.

Electrical Equipment (Safety) Regulations 1994

These state that all electrical equipment must be tested by a qualified electrical engineer. Each item must be labelled to show that it has been tested and carry details of the tester. Detailed inspection records must be kept for all such equipment, and Tenants must be provided with instruction books for all appliances provided with the property.

Plugs & Sockets (Safety) Regulations 1994

Requires that all appliances supplied be fitted with an appropriately fixed and fitted plug. Any equipment supplied after 1st January 1997, will be expected to have the CE marking.

The above summary of information is provided as a guide. Please contact us if you require more details.

energy performance of buildings (certificates & inspections) (england & wales) regulations 2007

In terms of these regulations, as of 1st October 2008, Landlords are required to make an Energy Performance Certificate (EPC) available to tenants as part of the lettings process.   The EPC. which is valid for 10 years, rates a property's energy proficiency and makes recommendations about how to improve the efficiency.   The Landlord or Agent may not advertise a property to let, unless is has an EPC, and the legislation provides for fines of up to £200 for every breach.

 


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