Landlord Guide

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Rent Guarantee

The complete service includes (all the above) plus:

• Rent Paid on specific date
• Fixed Amount of rent payable to Landlord
• No Void periods * (Rent Paid when property is empty)
• Regular Property inspections
• Covering damages to the property caused by the tenants (Minus fair wear and tear)

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INVENTORIES

We strongly advise our Landlords to carry out a full inventory for each separate tenancy. The purpose of checking an inventory is to establish damages which can only be done if descriptions and conditioning remarks are sufficiently detailed at the commencement of the tenancy and then at the end of the term.

Under the terms of the tenancy agreement, the tenant is required to return the property and contents at the end of the tenancy in the same condition as they were at the commencement, fair wear and tear accepted. It is almost impossible to ascertain whether damage was caused during a tenancy without a proper inventory signed by all relevant parties.

we will carry out a Check in inventory as part of full management free of cost if it is a LET only we will provide you will Inventory template for you to complete.

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CONSENT TO LET

If the landlord has a mortgage, it is normal for mortgagees to require notification of any proposed lettings and the landlord should seek their initial consent. In the case of leasehold premises the consent of the Head Lessee of Freeholder will be required. The landlord should also advise his insurance company of the proposal to let the property as this could either invalidate the insurance altogether or increase the premiums. You should obtain written documentation of these consents prior to letting.

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UTILITIES

The tenant will be responsible for the payment of gas, electricity, water, telephone, council tax and television licence. (Unless otherwise agreed and stated)
As the landlord you are still responsible for the payment of service charges and ground rent in leasehold properties and buildings insurance on Freehold properties.

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TAX

Under the Taxation of income from Land (non residents) Regulations 1995, the rent receiving agent (or where there is no agent, the tenant) will be required to deduct an amount equivalent to Basic Rate Tax from the rent (after taking deductible expenses paid by the agent into account) and pay the balance to the Inland Revenue each quarter.

However, the overseas landlord can apply to the Inland Revenue for exemption from this requirement. Provided the landlords tax history is good and tax affairs are up to date, the overseas landlord will be issued with a certificate that will be sent to his rent receiving agent. This will authorise the agent to pay the rent to you with no tax deducted.

We can provide you with an NRL1 form which you must complete and send to the Inland Revenue. Neither your rent receiving agent nor your tax advisor can file this application for you - it must be done by you.
Failure to return this form in time may result in the exemption certificate not being issued before the payments become due. We would have no alternative but to make the required tax deduction before paying the rents to you.
Our company are not tax advisers so if you are unsure as to how the above will affect you, you would be advised to speak to an accountant or professional tax advisor.

Any Non resident Landlord Tax payments deducted by us, in the first quarter can be refunded, if the exemption certificate is in our possession before the first quarter has ended. Any deductions after the first quarter can only be reclaimed after the first year has ended. Any refunds due after the first quarter are made by the Inland Revenue.

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TENANCY AGREEMENTS

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 are now quicker and simpler (provided the process is carried out correctly).

There is no minimum period for an Assured Shorthold tenancy; however we recommend that the tenancy is for not less than six months.

Most tenancies are drawn up for a period of twelve months, some have break clauses. A break clause allows either party to terminate the agreement with two months notice after an initial period of four months the notice may be served. We will be happy to discuss the pros and cons of different time periods with you.

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LEGAL MATTERS

Our staff have been trained and receive ongoing training on the various legal aspects of letting including safety regulations, tenancy agreements and clauses, possession and have vast practical experience. They will be happy to discuss any questions you may have regarding more detailed legal matters.

The relationship between Landlord and Tenant can sometimes have its 'ups' and 'downs' and the need for a professional agent is paramount in closing any divide to allow for a smooth and enjoyable property experience for all parties concerned, whether you are a Landlord or Tenant you are best advised to conclude your property transaction via a reputable agent.

Tenancy law is now far better regulated than ever before with balanced rights for all parties, tenants holding deposit held in Approved Scheme and are returned at the end of the tenancy subject to the property being returned in the manner it was taken and subject to there being no outstanding bills relating to utilities etc. The lettings market has grown immensely due to the increasing Buy to let market and with an increase to new build added to the marketplace the level of quality has improved greatly.

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Landlords fees:

Sales fees: 1.5% for both sole and multiagency

Example of Charges: If the asking price was £250,000 the fee would be £3750

LET ONLY Fees Landlord :

We charge 10% on the gross annual rental

LET only service includes marketing the property, carrying out accompanies viewing, arranging for the inventory to be carried out, carry out the relevant checks on the potential tenant including credit change and reference and finalising the tenancy agreement l

Rent Collection Fee :

We charge £50pcm for rent collection

As an additional service we can also offer a monthly rent collection, pursue non payment of rent and advise of rent arrears

Management Fee :

We charge 10% on the gross Monthly or a minimum of £100Pcm

Full management includes all of the above, as well as getting quotes for repairs, and arranging repairs with in the property, carrying out 2 routine inspection per annum and notify landlord of the outcome, advising all relevant utility providers of changes and hold key through out the tenancy term

check out fee & court attendance :

We do not charge ANY fees for check out of tenant and for attendance of court

Deposit Protection Fees :

We do not charge ANY fees for protecting the Deposit with an approved protection scheme

Contractor Fee :

From time to time we may put you in touch with external contractors who carry out works at your property, please note we DO NOT Received Any referral fees from contractors for this and you will be put in touch with them directly to make payments and arrange works. Alternatively you may opt for us to make payment on your behalf when your rent is received, for this you will get a deduction to your rent for the amount agreed with contractor

We do not charge any other fees other then whats listed above

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