Should you be considering renting a property there may be many aspects to consider.
The local rental market is generally strong with a high demand for properties ranging from one bedroom flats to 5 bedroom country houses.
It is important to give thought as to who and how you wish to rent your property:
The next step would be for us to visit your property where we can give you an appraisal of the likely rent achievable and advise on any work we feel is necessary to comply with Legislation or improve the appeal factor to prospective tenants.
The final step will depend on what package you have chosen but with either we will endeavour to support you as a Landlord. The most critical of steps, however, is to agree on a tenant and take up references as to their suitability to rent the property.
We advise all our clients to carry out a full inventory for each separate tenancy to ensure that both parties are happy from the start!
It is an opportunity for the relevant parties to agree on the condition of the property, clear descriptions, contents and any discrepancies prior to the commencement of the tenancy agreement. Once the parties have agreed the contents of the inventory all the relevant parties sign a copy and this generally avoids any future disagreement on the cessation of the tenancy.
Under the terms of the tenancy agreement, the tenant is required to return the property and the contents at the end of the tenancy in the same condition as they were at the commencement of the tenancy, fair wear and tear accepted. The signed inventory documentation of the property will ascertain whether the damage was caused during the tenancy and should avoid any disputes at the end.
The cost of the preparation of the inventory is borne by the landlord.
The rental market can be a minefield when it comes to Legislation which we can negotiate for you.
We want to make sure that all our landlords are up to date and fully compliant which is why we advise our landlords on all current Legislation as well as any future or proposed Legislation. When we visit your property, we will inform you of anything that may need to be undertaken to ensure the property is suitable for letting, as well as the legal requirements attached to rental properties, such as:
It is standard for mortgagees to require notification of any proposed lettings and the landlords should seek their prior consent.
It is also advisable that the Landlord informs his insurance company of the proposal to let out the property as this may invalidate the insurance altogether or increase the premiums. It is advisable that written documentation should be obtained of these consents and held on file.
The Tenant will be responsible for the payment of:
Unless previously agreed with the Landlord. The landlord is responsible for building insurance on Freehold properties.
Generally, most tenancies are classed as Assured Shorthold Tenancies.
Under the Housing Act 1998 (as amended 1996) Landlords have more rights to possession than with tenancies commencing prior to the Acts and procedures for possession should be quicker and simpler.
There is no minimum period for an Assured Shorthold Tenancy, however, we recommend that the tenancy is for not less than six months.
You can opt for either our fully managed service or just instructing us to find suitable tenants for you undertaking all the work required up to handing over the key to the new tenant.
We have a regulated complaints procedure and are members of the Royal Institution of Chartered Surveyors (RICS).
As a landlord, you have a responsibility to keep the property in a safe and free from health hazards condition for your tenant. As your letting or managing agent we have an obligation to ensure you are fully aware of the current regulations you must adhere to when renting out your property.
ADDITIONAL FEES TO BE AWARE OF
We strongly recommend all landlords to have an inspection of their electrical installation.
We can arrange for an Energy Performance Certificate (EPC) to be undertaken.
N.B. From 1st April 2018 it is a legal requirement for all properties being let for the first time to have an E rated EPC or above. For existing tenancies this will not come into force until April 2020. (In some cases there will be exemptions).
The Health & Safety Executive have issued a Code of Practice for assessing the risk of Legionella in residential property. We recommend that as a Landlord you should carry out a risk assessment on your property prior to letting especially if there are open water tanks, redundant pipes, cooling systems or swimming pool.