Advice for Landlords
The right tenant at the right rent is the most important issue.
To secure a good tenant look at your property and imagine what you would think if you were in a prospective tenant's position. Remember, if the property is not good enough for you, then it won’t be good enough for a tenant.
The following guidance notes will ensure your property is one which will attract a tenant:
First impressions count.
The gardens should be well maintained and tidy.
The paintwork should be clean and the refuse bin moved away from the door.
Internally the look and the smell of a property can make people want to leave without having inspected- make sure the property is clean and tidy and odour free.
You should allow at least 6-8 weeks to market the property, secure a tenant and process the documentation so that the tenant may take up occupation. Sometimes the first person to view may want to take the property, other times it can take longer.
If your property is mortgaged you will have to obtain authority from your mortgage lender before the property is marketed, this may take some time dependent upon the lender.
The letting market can move quickly. Tenants expect to be able to view at short notice and move in as soon as the documentation has been completed so if you're flexible about your move date, be ready to move at any time.
Calculate your costs. You may have to pay for service tests and an energy performance certificate before your property is let and the letting fee and commission will be deducted from the first month’s rent, remember also that VAT will be added to most costs.
If the property is currently let don't forget to let the tenants know that they may be contacted to arrange viewings.
Do not forget that your rental income may be liable to income tax and that you will be required to complete a Self Assessment Tax Return each year. If you are going overseas different tax arrangements apply and you will require approval from H M Revenue and Customs for rent to be paid to you without tax deduction.
There are numerous regulations relating to property lettings, many relating to safety. Some are listed below for your general information, we can advise further on specific matters but some general guidance is listed on the right hand side:
Fire Safety Regulations relating to soft furnishings
Gas Safety Regulations requiring a Gas Safety Certificate
Electrical Safety Certificate requiring the wiring installation and any supplied appliances comply with safety regulations.
Energy Performance Certificate
Tenants Deposit Scheme- tenants’ deposits (bonds) have to be kept in a Government backed account or approved agents Clients Accounts and can only be released under specific circumstances at the end of a tenancy, giving you complete peace of mind.
We aim to achieve the best possible rent for your property, but we do request you do give us due consideration when we advise you about rental values and state of the market.
Sometimes first viewing results in an application, other times it takes a longer, but we will always keep you updated on progress, on the feedback from the prospective tenants we take round and on the state of the market.
In return, we simply ask you to consider our advice - it will always be given with integrity and based on all the information we have.