The process of letting a property can be a particularly daunting experience for those who have not done it before and even for those who have! Through their extensive replica watches knowledge, our Lettings Departments are able to guide all landlords through the pitfalls of letting their property with the minimum of fuss and the maximum of customer care.
CityWest.co.uk Estate Agents provides a range of letting and management services based on the experience, skills and expertise of our lettings team. As members of The replica watches Property Ombudsman, you can be assured that we have a detailed understanding of the lettings and management sector and will ensure that you are given replica watches the best possible service.
Over the last few years and, following the introduction of the 1988 Housing Act which offers greater protection and possession rights to Landlords, there has been resurgence in the lettings market.
People from all walks of life are looking to become involved in the rental market whether Investors, Companies, people who need to relocate with their work or homeowners who are having difficulty in selling their own properties. Increasingly, large numbers of people are entering the ‘Buy to Let’ sector as an opportunity for investment.
As a result, Landlords have come to expect extensive knowledge and expertise from the Agency they choose to act in their interests.
Outlined below are a few points to consider before renting your property out. However, please note that this is not a definitive list; meeting one of our Lettings Managers is the only replica watches sure way of getting all of your queries answered.
Your property will be valued by the Lettings Manager; they will have up to date comparables of properties that have been let within your road, or a road very near to your home. This means the figures we give you are based on actual successful lets, not just fabricated figures.
You will be required to prepare you property for rental and below we list a few guidelines to assist you:
The rental market as with any other is competitive therefore, in order to obtain the best possible Tenants; you must present your property in the most effective way.
For any other advice or help in preparing your property contact us.
CityWest.co.uk Estate Agents have a stringent referencing process that all of our tenants must pass before they are eligible to reside in one of our properties.
The contracts that we provide for the letting of your property(s) fully adhere to the latest housing act, and are designed in-house verified by solicitors to give you the maximum protection against problematic tenants.
CityWest.co.uk Estate Agents always recommend that a thorough professional clean of a property is done prior to renting it out as this covers two eventualities. Firstly, it avoids replica watches the scenario where the tenant is unhappy about the condition of the property when they move in and secondly, it helps us ensure that the property is returned in the appropriate condition at the end of the tenancy.
It is now widely regarded that, as a prerequisite to letting your home, you must have an inventory done before allowing a tenant move in to your home. This is to provide an adequate means of assessing the condition of your home prior to renting it out and also when the tenant leaves. CityWest.co.uk Estate Agents use digital photography as means of providing an accurate inventory of your property.
Under common law, the Landlord must ensure that properties to let are safe and replica watches failure to comply with Safety Legislation is considered a criminal offence resulting in legal action and prosecution.
As your Managing Agent, we can carry out safety checks upon your request, deducting the cost from your rent.
Gas - (The Gas Safety (Installation & Use) Regulations 1994 (amended 1998) – the Landlord must maintain gas installations and all gas appliances through annual inspections and safety checks carried out by a CORGI registered engineer and a copy of the Current Inspection Certificate must be left at the property.
Electricity - The Electrical Equipment (Safety) Regulations 1994 & Electricity at Works Regulations 1989- the Landlord must ensure that all mains voltage household electrical appliances and equipment is tested and replica watches safe to use. Any non-repairable items must be replaced and removed.
An NICEIC or similarly qualified electrical engineer must carry out these tests on an annual basis and we would also recommend this is done upon change of Tenancy.
All operating instructions must be left in the property for the Tenant’s benefit.
Furniture and Furnishings - The Furniture and Furnishings (Fire) (Safety)Regulations 1988 (amended 1989 & 1993) - Soft furnishings (such as mattresses, settees, bed bases, cushions and padded headboards) must meet fire resistance standards and bear a permanent label confirming this. If compliance cannot be proved, the item must be removed and replaced.
Smoke Detectors - whilst only properties built after 1992 legally require the fitting of smoke detectors (Building Regulation 1991), we would strongly recommend that smoke detectors are fitted to each floor of the property being let.
NB: - The penalty for failure to comply with statutory safety legislation is currently a maximum of £5,000 and/or 6 months imprisonment for each offence. This can be harsher in the case of injury or fatality.
The above is only a guide to the legal safety requirements and should you have any further enquiries, we would recommend that you contact a qualified solicitor who will be able to verify these in full.
If you have a mortgage you must obtain consent from your mortgage lender. If your interest in the property is leasehold your lease may require you to obtain consent from your landlord prior to sub letting.
Standard home owner insurance may well be invalidated when you let your property. We can obtain quotations for specialist comprehensive insurance cover for let property, including rent and legal insurance.
It is a requirement for landlords to sign their own tenancy agreement. Therefore it is important that we are given clear instructions regarding the length of time the property will be available and that we have a contact address and telephone and fax number in order that the document may be forwarded for signature prior to any tenancy.
The Housing Act 1988 (amended 1996) has given rise to two types of Tenancy: Assured and Assured Short hold Tenancy as well as the existing Company Tenancy and Contractual Tenancy.
Certain criteria have to be satisfied for a tenancy to qualify for assured status. Assured Tenancy gives the Tenant security of tenure but at a market rent negotiated between the parties. The Landlord may request back possession of the property let on an Assured Tenancy but must obtain a COURT ORDER. This has its advantages but is not as flexible.
This Tenancy is attractive to Landlords as it offers market rents without security of tenure beyond the contractual term and the majority of Tenancies are based on this format. However, certain criteria must first be met:
If the property is let under an Assured Short hold Tenancy, the Landlord can issue a Section 21 Notice to guarantee possession provided the term of the Short hold is expired and not less than two months notice has been given by the Landlord stating he requires possession.
If court action is needed, this can be obtained on a number of different grounds against the Tenant.
However, it should be noted that is a criminal offence under the Protection from Evictions Act 1977, for a Landlord to threaten or forcibly evict a Tenant from their property.
This is governed by contract law and is not regulated by the Housing Acts of 1988 or 1996. It is used when a Private or Public Limited Company (excluding partnership or sole trader) want to enter into a Tenancy.
There is no security of tenure and rental payments are often made on a quarterly basis by prior agreement.
Contractual Tenancy also falls outside the provisions of the Housing Acts of 1988 and 1996 and is not regulated by statute. It is most commonly used where the rent exceeds £25,000 per annum and both parties have the freedom to contract as they choose, but must then rely solely on the provisions of that Agreement.
Most professional Tenants prefer the property to be unfurnished and it has been found that a Tenant is likely to respect the property more if they have their own possessions. Moreover the difference between rent for furnished or unfurnished is negligible and the Landlord remains responsible for the repair of replacement of any furnishings which become broken or worn (unless this was caused by a deliberate act of the Tenant).
Thorough credit checks are carried out on all prospective Tenants as we can reserve the right to decline an application where necessary in the interests of protecting the Landlord’s investment.
These can be obtained through us as your Managing Agent and include references from the Tenant’s employer and previous Landlord.
We can also provide you with/assist you in obtaining a linked insurance policy to safeguard your rental income and provide legal protection (Rent Guarantee).
The Letting team at CityWest.co.uk Estate Agents prepare and supply you with all legal documentation and can give practical general legal advice.
This is usually done on a calendar monthly basis and is forwarded to the Landlord via any previously approved method after any agreed deductions have been made for contractors etc.
This is usually equivalent to one month’s rent and is taken from the Tenant to be held in our Client Account until the end of the Tenancy. Upon vacation of your property, there will be a re-inspection and any refunds will be made within a maximum of 28 days, provided that there are no disputes and all utility accounts have been settled.
The costs of everyday repairs and maintenance are the responsibility of the Landlord but, if we are instructed to manage your property on your behalf, we will pay the contractor out of the Tenant’s rent. We can also organise quotes for approval on any major repair as this becomes apparent.
Under the LANDLORD AND TENANT ACT 1985, Landlords are responsible for repair of the structure and exterior of the property, together with installations for the supply of gas, electricity, water and sanitation.
If the property is not in a good state of repair at the commencement of the Tenancy, the Tenant has the right to insist that repairs are carried out and, in the event that the damage is serious, the Tenant will be entitled to consider the letting as terminated as the Landlord will be in breach of his obligations.
From April 2007, any deposit paid to a landlord or agency must be protected using a government authorised tenancy deposit scheme. The new legislation has been introduced to ensure that:
If you fail to protect a tenant’s deposit, a court could order to repay three times the amount of the deposit to the tenant. If the property that you are moving into is managed by CityWest.co.uk Estate Agents, then the deposit will be held under the insurance based scheme run by Tenancy Deposit Solutions Ltd.; further information on this company can be found at http://www.mydeposits.co.uk/
You are considered an overseas Landlord if you live abroad or go to work abroad for lengthy periods of time.
It is important to firstly note that Inland Revenue regulations apply even if you are a non-UK resident. Moreover, non-resident Landlords must apply to the Inland Revenue Financial Intermediaries Claims Office (FICO) for authorisation (by way of an exemption certificate) to receive payment of property rental “gross”, that is without deduction of Income Tax by the letting agent or Tenant as required by law.
NB: The above is merely a guideline and for fully qualified advice, you should contact an appropriate Accountant or Tax Expert.
Other important considerations for Landlords before Letting: