Information For Landlords
USEFUL INFORMATION FOR LETTING YOUR PROPERTY
Legal ownership
If your property is jointly owned. All owners must be named on our terms and conditions and on the tenancy agreement.
Condition of property
When it comes to letting your property, first impressions count – so it’s important to think about decoration and furnishings.
To help you maximise your property’s potential, ask our team about redecoration and refurbishment options. Modern kitchens and bathrooms, neutral colours and good storage can help you achieve shorter vacant periods and higher rents.
Appliances and manuals
It goes without saying that all appliances, including the boiler, must be in good working order and serviced appropriately. Manufacturers’ operating and instruction manuals for all appliances and electrical equipment should be left in the property.
EPC
Before being placed on the market, all rental properties are required to have an Energy Performance Certificate (EPC) which rates the energy efficiency and environmental impact of a property on a scale from A to G. You will need an EPC with an energy efficiency of band E or above as it is unlawful to let a property with an EPC rating of F or G. We can help organise an EPC with accredited EPC regulators. (Valid for 10 years).
Safety regulations
As a landlord you need to adhere to a number of legal requirements regarding the safety of your property. If there is gas supply in the property e.g. boiler or cooker, you will need an annual Gas Safety Certificate provided by an accredited gas engineer. We can help arrange this for you.
Consents
If you are a leaseholder, you will need to check the requirements of your lease in connection with sub-letting and obtain the necessary consent if required. If you have a mortgage on your property consent may also be required.
Insurance
Landlords are required to make sure that both the property and its contents (if furnished) are fully insured. You must inform your insurance company that your property is going to be let, and adjust your policy as required. We will always advise tenants that they are responsible for insuring their own belongings.
Tax implications
Any income generated from letting property in the UK is liable to UK tax, whether the landlord lives in the UK or not. Non-resident landlords will need to apply to HMRC to pay tax on their rental income through Self-Assessment in order to receive UK rental income without deduction of tax. You must pay tax on the profit you make from renting out the property after deductions for allowable expenses. The tax liabilities associated with letting a property will vary from person to person, so we recommend you seek the advice of a property tax specialist in order to minimise your liabilities.
Photography and floor plans
When letting your property, it is important that we present your property in the best possible light. We have a team of professional photographers and floor planners.
Long lets: six months or more
Furnished or unfurnished? Furnished and unfurnished properties will appeal to different tenants, but there is often no difference between the level of rent achieved for a property either way. ‘Unfurnished’ properties will usually include curtains or blinds, carpets or other flooring and white goods in the kitchen. Whereas ‘furnished’ properties tend to be ready for someone to move in to. We’ll be happy to advise you on what should be left and what should be removed.
Property Management
It is important to identify early on who will be looking after the property while it is let. If you are in need of ongoing help and support, we can provide a comprehensive property management service. Please don’t hesitate to ask us for more details.
Utilities and Council Tax
The tenant is normally responsible for paying all gas, electricity, telephone, water, council tax and television licence bills during the tenancy. The landlord is responsible for any ground rent and service charges payable.
With our extensive experience of lettings we can provide a fully managed lettings service for our clients to ensure your role as a landlord is as easy as possible.
Our fully managed service to landlords includes:
Finding The Right Tenants
We will:
Once The Tenants Are Found
We will:
Landlord Charges
Legal ownership
If your property is jointly owned. All owners must be named on our terms and conditions and on the tenancy agreement.
Condition of property
When it comes to letting your property, first impressions count – so it’s important to think about decoration and furnishings.
To help you maximise your property’s potential, ask our team about redecoration and refurbishment options. Modern kitchens and bathrooms, neutral colours and good storage can help you achieve shorter vacant periods and higher rents.
Appliances and manuals
It goes without saying that all appliances, including the boiler, must be in good working order and serviced appropriately. Manufacturers’ operating and instruction manuals for all appliances and electrical equipment should be left in the property.
EPC
Before being placed on the market, all rental properties are required to have an Energy Performance Certificate (EPC) which rates the energy efficiency and environmental impact of a property on a scale from A to G. You will need an EPC with an energy efficiency of band E or above as it is unlawful to let a property with an EPC rating of F or G. We can help organise an EPC with accredited EPC regulators. (Valid for 10 years).
Safety regulations
As a landlord you need to adhere to a number of legal requirements regarding the safety of your property. If there is gas supply in the property e.g. boiler or cooker, you will need an annual Gas Safety Certificate provided by an accredited gas engineer. We can help arrange this for you.
Consents
If you are a leaseholder, you will need to check the requirements of your lease in connection with sub-letting and obtain the necessary consent if required. If you have a mortgage on your property consent may also be required.
Insurance
Landlords are required to make sure that both the property and its contents (if furnished) are fully insured. You must inform your insurance company that your property is going to be let, and adjust your policy as required. We will always advise tenants that they are responsible for insuring their own belongings.
Tax implications
Any income generated from letting property in the UK is liable to UK tax, whether the landlord lives in the UK or not. Non-resident landlords will need to apply to HMRC to pay tax on their rental income through Self-Assessment in order to receive UK rental income without deduction of tax. You must pay tax on the profit you make from renting out the property after deductions for allowable expenses. The tax liabilities associated with letting a property will vary from person to person, so we recommend you seek the advice of a property tax specialist in order to minimise your liabilities.
Photography and floor plans
When letting your property, it is important that we present your property in the best possible light. We have a team of professional photographers and floor planners.
Long lets: six months or more
Furnished or unfurnished? Furnished and unfurnished properties will appeal to different tenants, but there is often no difference between the level of rent achieved for a property either way. ‘Unfurnished’ properties will usually include curtains or blinds, carpets or other flooring and white goods in the kitchen. Whereas ‘furnished’ properties tend to be ready for someone to move in to. We’ll be happy to advise you on what should be left and what should be removed.
Property Management
It is important to identify early on who will be looking after the property while it is let. If you are in need of ongoing help and support, we can provide a comprehensive property management service. Please don’t hesitate to ask us for more details.
Utilities and Council Tax
The tenant is normally responsible for paying all gas, electricity, telephone, water, council tax and television licence bills during the tenancy. The landlord is responsible for any ground rent and service charges payable.
With our extensive experience of lettings we can provide a fully managed lettings service for our clients to ensure your role as a landlord is as easy as possible.
Our fully managed service to landlords includes:
Finding The Right Tenants
We will:
- Advise on the optimal rental value of the property
- Market the property
- Find suitable tenants, conduct references and credit checks
Once The Tenants Are Found
We will:
- Take receipt of the initial payment to secure the property.
- Take receipt of the deposit which we will register with the Dispute Service.
- Draw up the tenancy agreement at the start of the tenancy and manage renewals thereafter
- Instruct the inventory clerk to prepare the inventory and check the tenant in and out
- Issue keys, collect rent, transfer utilities, manage repairs and organise regular maintenance
- Manage actions required when rents are overdue or tenants are causing nuisance
Landlord Charges
- Letting and Rent collection service: 12.6% (inc VAT) of the rent received deducted by the Agent as and when rent received.
- Full Management service: 19.8% (inc VAT) of the rent received, deducted by the Agent as and when the rent received.
- Tenant referencing: £40 (inc VAT) per tenant
- Agreement Admin Fee: £300 (inc VAT)
- Inventory Service: £90-£200 depending on size of property (inc VAT)
- Duplicate statements: £36 (inc VAT)
- Tenancy Renewal fee: £120 (inc VAT)
- TDS scheme: £18 per deposit
- Major works fee: 12% (inc VAT) if works over £500
- Professional hourly rate: £120 (inc VAT) charged by the Agent when required to carry out any additional services and court attendance.