Lettings Landlord's Guide
How quickly can a tenant be found?
On average, assuming that the property is in good order and that a realistic rent is being asked, a suitable tenant should be found within two to three weeks.
Should the property be furnished or unfurnished?
Generally, tenants are more likely to prefer an unfurnished property. The minimum requirement is carpets, curtains and a cooker. Other appliances such as washing machines and dishwashers make little difference to the rent and are an extra maintenance liability for the Landlord.
If the house is empty why do I need an inventory?
A properly constructed Inventory/Schedule of Condition details the fixtures and fittings and describes their condition and that of the property generally. The inventory is an essential document that provides a written benchmark at the start of each tenancy and which should be amended, updated and recreated before the beginning of each new tenancy. With the introduction of the Tenancy Deposit Protection legislation in April 2007 is more important than ever that a detailed inventory is drawn up at the start of each tenancy to assist with the resolution of deposit disputes.
Do you take a deposit from the Tenant?
Yes, always. This is usually equivalent to 6 weeks rent and where we are acting on a Full Management Agreement, is held by us as stakeholders and registered with the Tenancy Deposit Scheme.
What is Tenancy Deposit Protection?
Tenancy Deposit Protection was introduced in April 2007 and applies to all Assured Shorthold Tenancies where a deposit is taken. In summary:
- Landlords will be required to join a statutory tenancy deposit scheme.
- This will mean that deposits are safeguarded.
- Tenants will get all or part of their deposit back, if they have kept the property in good condition and are entitled to get their deposit back.
- The scheme offers alternative ways of resolving disputes which aims to be faster and cheaper than taking court action.
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Who checks the house at the end of the tenancy?
Using the inventory as the benchmark, a detailed inspection is carried out at the end of the Tenancy by our Inventory Clerk. Tenants must leave the property as clean and as tidy as when they moved in and be prepared to pay for any damage or breakages that have occurred.
I have a sizeable garden, should I employ a gardener?
The standard agreement makes the Tenant liable for keeping the garden neat and free from weeds. However, if the garden is large or requires careful pruning, we recommend that gardening help is provided on a regular basis that should be carefully discussed and agreed between ourselves, the Tenant and the gardener.
What happens if a repair to property or equipment is required during the tenancy?
We make it clear to Tenants that they should contact us regarding any breakdown or problem. We contact the appropriate contractor and arrange for the work to be carried out. If the cost is likely to be high we will contact you immediately for authorisation.
Can I stipulate – no pets, no children, etc?
Yes, of course, but bear in mind that this may restrict the market and make a letting more difficult. It is our policy is to discount smokers in rental properties due to the adverse effect on decoration.
WHAT IS AN ASSURED SHORTHOLD TENANCY AGREEMENT?
An assured shorthold tenancy agreement is the most common form of legal agreement used for arranging a tenancy. Under this type of agreement the landlord is guaranteed right to repossess his property at the end of the term. Assured Shorthold Tenancies are usually for a fixed 6 month period (term) but can be arranged for any length of time over 3 months.
HOW DO YOU CHECK THE SUITABIILTY OF PROSPECTIVE TENANTS?
We will only let your property to tenants who have been personally interviewed by a senior member of staff and thoroughly vetted through our referencing process. Each prospective tenant is asked to provide financial, employer and landlord references and we also carry out further credit reference checks through Equifax as required. In some cases prospective tenants are asked to provide a guarantor if they do not have a satisfactory history of owning or renting properties.
How and when do I receive rent?
Tenants pay a month’s rent in advance at the start of the tenancy and thereafter rent on the 1st of each month. Where we are on a Full Management Agreement, credits are sent out by BACS to your nominated Bank or Building Society account on or around the 15th of each month and you are sent a statement showing any deductions from rent received with supporting invoices. All accounts are audited on a monthly basis to comply with RICS regulations.
How often do you visit the property?
Our first visit is made during the first month of the Tenant moving in and thereafter, every six months. If there are any problems, or we suspect that a Tenant is not looking after the house and garden as he/she should then we would visit the property on a frequent basis thereafter to monitor the situation and recommend appropriate action.
Do I need to have any certificates for my gas boiler?
Yes, a Landlords Gas Safety Certificate is legally required for all gas appliances in the property. This needs to be renewed every year by a Corgi registered plumber.
Do I need to have any certificates for my electrics?
Since the Consumer Protection Act 1987, landlords are responsible for ensuring that their property is let in a ‘safe condition’. We strongly recommend that an electrical safety inspection is carried out at the beginning of the first tenancy.
Do we need to fit smoke detectors in the property?
We strongly recommend that all houses are fitted with at least one mains smoke detector per floor but this is only a legal requirement for properties built after 1992.
Do I need to give you any identification?
Yes, we require identification to comply with Money Laundering Regulations. These are kept on file together with your signed Agency Agreement and Landlord Information Sheet.
Should I advise my Insurance Company?
Building cover must be maintained and payment of premiums continued. Your insurance company must be advised that you are intending to let the property. This affects your contents insurance, and you should therefore inform the company. They should also be told that we are the Managing Agents. The Tenant is responsible for insuring his own belongings. It is important that the Landlord informs us of any specific conditions his insurer may impose.
I am going abroad and will be non-resident for tax purposes. Can you advise me?
Yes, we can provide you with a leaflet explaining what you should do. Basically, you will need to sign the Inland Revenue’s NRL1 Form for us to obtain approval to pay rent gross, i.e. with no tax deducted – this is a straightforward process. If the property is jointly owned or any monies are paid into a joint account, each party will need to be registered.
Can you deal with the legal side?
We are competent and experienced in all legal matters relating to lettings and subscribe to regular updates for all legal documents. We can advise on current legislation, draw up the tenancy agreement and issue the appropriate notice as and when required.
HOW MUCH WILL IT COST TO FIND A TENANT?
This will depend on whether you would like us to fully manage your property or whether you would just like us to find tenants. All of our fees and terms of business are detailed in our brochure so please contact us if you would like a copy.
Should I inform my Bank/Building Society of my intention to let?
Yes, if your property is subject to a mortgage, you must advise the lender of your intention to let it. We strongly advise that you contact your mortgage company immediately to obtain their permission in principle rather than applying for this once a tenant is found. It is imperative that consent is obtained to prevent your mortgage arrangements being in jeopardy. This could take up to 6 weeks to obtain written permission. It is also necessary for Flat owners to check their lease on whether you are allowed to let the flat.
