Landlords Guide

TENANT
It is of utmost importance to select an appropriate tenant to rent a property. You will be given an unbiased report about any prospective tenant together with both financial and personal references. It is also encouraged that Landlords meet prospective tenants before making a decision.

TENANCY AGREEMENT
We will advise with regard to the type and term of the tenancy agreement. Commission rates will vary depending on what type of service you require.

INVENTORY
It is important that a detailed inventory is taken prior to renting the property. The inventory will then be checked with the tenant and signed off. We will also take photos of the property upon renting which can be used if there is any discrepancy with regards to the condition upon the expiry of the contract.

DEPOSIT
It is recommended that the tenant lodges a deposit prior to the commencement of the contract as a safeguard against any claims for dilapidations or unpaid service charges.

MORTGAGE COMPANY
If the property has a mortgage there is a requirement, to obtain the mortgage company's approval in order to let the property.

INSURANCE
It is advisable to inform your insurance company that you propose to let the property. It is also prudent to consider a landlords insurance protection package which would cover such matters as; emergency assistance, rent guarantee schemes, contents insurance and legal expenses.

COLLECTION OF RENT
We will collect the rent on a monthly basis. The net proceeds will be transferred into your bank account. It is often advisable to set up a separate bank account so that payments can be easily monitored and for tax purposes.

COMMISSION
Our commission is competitive and will depend on the type of service that you should require from us. These services can range from tenant introduction to full management of the property including a rent guarantee scheme and emergency assistance cover.

ACCOUNTING
We will prepare and forward quarterly statements showing an itemised account of all rents received and outgoings.

OVERSEAS LANDORDS
Current UK legislation holds the UK managing agent responsible for UK tax where the landlord is resident overseas. As a result, the agent in receipt of in for the landlord must, each quarter, deduct and pay over to the Inland Revenue 24% of net rents Alternatively any landlord may apply to the Inland Revenue to allow the agent to make payments gross. It is advisable to seek the advice of an accountant on this matter.

MAINTENANCE AND REPAIRS
It is important that the property is well maintained and in a good state of repair in order to encourage favourable prospective tenants. During the tenancy maintenance works should be carried out if necessary and it is advisable to authorise us to organise urgent repairs to be carried out without prior instruction.

INSPECTIONS
We will inspect your property formally twice a year and submit a written report. Though we also monitor all the properties on our database regularly and report any unusual findings immediately.

SERVICE OF APPLIANCES
It is recommended that you enter into maintenance contracts with particular reference to boilers and Kitchen appliances.

SAFETY REGULATIONS
All gas appliances must have a Safety Certificate (CP12) from a corgi registered Gas Engineer in order to meet the Gas Safety regulations 1994. If the property is furnished, the furniture must comply with the Furniture and Furnishings (Fire) regulations 1993.

POSTAL RE-DIRECTION
It is advisable to instruct the Post Office to re-direct your mail.

SELLING OF PROPERTY
In the event of the property being sold to the tenant or any associated party, during or after the tenancy, we would be entitled to commission on our Sole Agency rate of 2% plus VAT on the sale price achieved.

LEGAL AND FINANCIAL ADVICE
These notes are prepared for guidance purposes only. It is strongly recommended to seek advice from a Solicitor and Accountant on all legal and financial matters relating to the letting of your home.