This is a quick guide to the main areas of lettings
All prospective tenants to be named on the Tenancy Agreement will complete a tenancy referencing form before being recommended to you. If accepted full referencing will then take place via Rent4sure (independent referencing Agency). On receipt of references, we will contact you again for final approval.
A Tenancy Agreement will be prepared for all tenants to sign before moving into the property. The Agreement will include comprehensive terms for the tenants to adhere to. Under the Housing Act 1988 (amended 1996) an Assured Shorthold Tenancy will be used. In cases of a company let then the relevant Company Agreement will be drafted as with a Tenancy (Assured Tenancy).
An Inventory and Schedule of Condition is needed for the management or rent collection services, to ensure that all items of furniture, fixtures and fittings left at the property are recorded and their condition noted. The tenants deposit (the equivalent of one months rent + £200) will be held against any damages or excess wear and tear shown against the inventory.
The first month’s rental is collected in advance, prior to the tenant’s occupation of the property. Further rental payments will then be collected in advance by standing order (where possible). Through the Management Service the rent will be paid into you bank account (via BACS) or forwarded onto you (by cheque) normally within ten working days each time the rental is paid by the tenant. A monthly rental statement and invoice will then be forwarded to you. Through the Tenant Find Only Service it will be up to the Landlord to collect any future rents from the tenant.
As part of the Management Service, a regular inspection will be conducted at your property, during a tenancy. An inspection report will then be forwarded to you.
At all reasonable times we will contact you when a fault is reported in order to take your instructions. You then have the option to use either your own contractors or our own approved contractors. In the case of an emergency we reserve the right to instruct our own approved contractors.
As part of our service we will contact you and take your instructions on whether you wish to allow the tenant/s to renew their tenancy. If you wish the tenants to renew then we will contact them immediately. Should the tenant/s wish to renew then we will arrange a further six or 12-month tenancy (subject to your instructions). If the tenant/s inform us they wish to move out at the end of their tenancy then we will re-advertise the property for prospective tenants to view your property.
End of Tenancy
As part of the management service we will conduct a full property inspection and inventory check at the end of the tenancy.
Non UK Resident Landlord
If you are going to reside outside the UK we are bound under the Taxes Management Act 1970, Section 78 and 83 to assess you at the basic rate of income tax (variable) due from rents we collect on your behalf if you are not “self assessing” your own tax. We should receive a letter of confirmation from your accountant and tax office confirming that they accept liability for payment of your tax. We can provide you with an Overseas Landlord form from the Inland Revenue for you to complete to organise your confirmation from the tax office. For in depth advice with regard to your personal circumstances, please contact your accountant for self-assessment advice.
You must tell your building society or bank (if the property is mortgaged) that you are thinking of letting the property. It is usually one of the conditions of your mortgage that you apply for permission to sub-let the property.
You must advise your buildings and contents Insurers of your plans as they too may need to make alterations in order to cover a third party residing at the property. (We can assist in recommending specialist insurance companies who deal with insurance for rented properties. Please speak to a member of staff).
If the property is a leasehold, you must confirm with the freeholder that there are no restrictions or covenants which prevent you from letting the property and which the tenants must adhere to during the tenancy period.
Fire and Furnishings (Safety) Regulations 1988 (1993)
All soft furnishings such as settees, sofas, beds, padded chairs, pillows, cushions and so on must comply with the fire resistance requirements contained within the regulations. Items of furniture made prior to 1950 are termed as antiques and as such are excluded from the regulations. Usually a label is attached to the item of furniture to confirm it is acceptable. We will at all times check your furniture and advise you accordingly to the best of our ability.
Gas Safety (Installations and Use) Regulations 1994 (1996)
A qualified engineer (Gas Safe Registered) must check all gas appliances and installations within the accommodation on an annual basis for its safe use. This includes such items as gas fires, central heating boilers, gas cookers and other gas appliances. Regulations also insist that flues and chimneys are clear of obstructions and in the correct place. The engineer must issue a certificate and a copy presented to the tenant at the start of any tenancy. Any items that fail to comply with the regulations must be fixed or removed immediately.
The Electrical Equipment (Safety) Regulations 1994
These regulations require that all electrical equipment left at the property be “safe and of no risk or injury to human or animal”. They should be checked so that flexes, fuses and electrical output are safe and correct. Portable electrical items such as electric cookers, fridges, washing machines, kettles, toasters etc must comply. We recommend that a qualified electrician visits the property to check these items.
This is only a brief guide to the regulations. Further information and details are provided in our Terms of Business and/or by asking a member of staff.