LANDLORDS

THE RENTAL MARKET

The first thing that people are surprised about is how fast paced the rental market is. That is why it is sometimes difficult to predict exact rental valuations, even a few months ahead. It will always depend on what is on the market at the same time as your property being advertised and of course how many tenants are looking to rent at that time.

EVALUATIONS & ADVICE

We will visit your property and make a professional rental assessment free of charge. Location, size, condition, and demand for your property type are all taken into consideration. We can do this with or without you in attendance, the choice is yours. We will discuss the desired rent you hope to achieve, and any special conditions you wish to apply, and the length of time you wish to rent the property.

The rent quoted will be the best market rent for that particular property. You are responsible in advising your Mortgage Lender, Insurance Company, and the Freeholder if the property is an apartment once you have made the decision to rent your investment. Your property must be in good decorative order, and we will advise you of any cosmetic work required to help achieve its full rental potential. Any works required prior to the letting should be completed before the property is shown to prospective tenants. A property in good condition will achieve a better rental figure, and in general, will be well maintained by the tenants. Your legal rights are the same whether you are letting your property furnished or unfurnished. If necessary, we can advise you on which items to leave in the property.

FURNISHED V UNFURNISHED

Flexibility is always the best option because you can appeal to all types of tenants. However, as a rule, most tenants want unfurnished.

If furnished, furniture and furnishings must adhere to the Furniture and Furnishings (Fire Safety) Regulations 1988/1990, 1993 and 2010 Act.

The principal rule is that if the furniture or furnishings item does not conform to the legislation by not having a Fire Safety Label attached, then this item is not safe and must not be provided within the property and removed immediately.

UNDERSTANDING YOUR LEGAL REQUIREMENTS

The residential lettings industry is heavily regulated by Legislation that means as a landlord and Agent we must adhere to the Regulations of which are updated regularly. This can be very difficult to keep on top of with many landlords’ busy lives, that is why you should choose a regulated letting agent, who can keep you up to date with the legislation to ensure you are fully compliant, with all legal obligations.

PRE-TENANCY AGREEMENT

You must own the property you are intending to rent or be able to provide proof of Power of Attorney to act on behalf of the owner/s. If the property is Leasehold, then the superior Leaseholder will need to confirm that the property can be rented. You must ensure that the property is safe for occupation. This means you will need to:

• Provide a current Landlord Gas Safety Certificate Annually signed by a Gas Safety Registered Engineer.
• Ensure an Energy Performance Certificate is ordered prior to marketing.
• Provide a valid Electrical Installation Condition Report.
• Assess the risk of exposure to Legionnaires Disease present in static water.
• Annual Chimney Sweep Certificate for all open chimneys and fuel burning appliances.
• Ensure the property meets the Fitness For Human Habitation Act

The legislation regarding Smoke and Carbon Monoxide Alarm regulations (2015 no. 1693) effective 1st October 2015 states that:

• A smoke alarm is equipped on each storey of the premises on where there is a room used wholly or partly as living accommodation.
• A carbon monoxide alarm must be equipped in any room of the premises where there is a room used wholly or partly as living accommodation and contains a solid fuel combustion appliance.
• Checks are made by or on behalf of the landlord to ensure that each prescribed alarm is in proper working order on the day the tenancy begins if it is a new tenancy
• All lettings legislation can be found at www. legisation.gov.uk or www.gov.uk.

THE TENANCY AGREEMENT

We provide the highest quality Tenancy Agreements, always fully updated and bespoke to your requirements. Assured Shorthold Tenancy will be provided, in the majority of cases, and these are governed by the Housing Act 1988 (amended 1996, 2004)

We strongly advise that you thoroughly read and fully understand your obligations as written in the tenancy agreement provided and please note that these agreements adhere to Stature (the Law of the Land). Any amendments you make to the tenancy might not hold up in Court because Statute will always over-ride contract.

Let Only Service

The Let only service is a service suitable to experienced landlords who will take on the responsibility of management and accounting once the tenants have accepted the keys. We will advertise your property via main rental portals. We arrange, accompany, and conduct all viewings at your property, and we will prepare the Assured Shorthold Tenancy Agreement.

Full credit and referencing checks are carried out through our preferred Referencing Company. The Governments Right to Rent checks will also be conducted.  The deposit is lodged within the Deposit Protection Scheme. After 30 days we will then transfer the Deposit to your landlords DPS Account. Therefore, you will need to ensure that you are registered with the Deposit Protection Service www.depositprotection.com .

We provide a standing order mandate to the tenants to arrange onward rental payments.  A comprehensive inventory report can be provided. 

These services are provided at additional costs, please see the charging schedule below as we can tailor your requirements accordingly.

FULL MANAGEMENT SERVICE 

In addition to the Let Only Service we also carry out six monthly routine visits, sending you a detailed report to advise you of the condition of the property and confirm if there are any issues that need attention. We shall organise the renewal annual Gas Safety Certificate and any other Certifications as required. The tenant will contact us direct if they have any problems or repairs. We will arrange any repairs using our reliable local contractors (unless you advise preferred contractors). We will not carry out any repairs without authorisation unless it is an emergency, and we are unable to contact you. Throughout the tenancy we will collect the rent and pay into your designated bank account within 5-10 working days (depending on when your rent due day falls) using BACS systems, along with an emailed statement for your tax return. We will deal with late rent problems by sending our rent reminders as a matter of course. Whilst every effort is made to collect the rent and ensure that the tenancy agreement is adhered to, the landlord will be responsible to initiate and settle the costs of any further legal action required.

At the end of the tenancy, we will carry out a Check Out using the signed Inventory and negotiate any dilapidations occurred. If both parties are not able to agree on the negotiated amount the dispute will be passed to the DPS for arbitration (their decision is final).