The complete service includes:
Even if you’re letting your property with another agency, we can switch this for you. We will contact your current agent and obtain all the tenancy documents and information plus collect keys.
The Let Only service is no longer available. In order to provide the best service possible including all the necessary protections to both the landlord and tenant we can only offer this as a fully managed service.
We strongly advise our landlords to allow us to carry out a full inventory including photos for each tenancy as this is a document which details what is in the property such as furniture, fixtures and fittings stating its current condition. The purpose of 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.
If the landlord has a residential 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.
The tenant will be responsible for the payment of services such as gas, electricity, water, telephone, council tax and television licence during the term of their tenancy. 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.
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.
Most tenancies are classed as Assured Shorthold Tenancies (ASTs) and this is the contract between a landlord and tenant. It allows a tenant to stay in a property as long as they pay there rent and follow the terms as set out in the tenancy agreement. Our AST’s are for a minimum 6 months or can be up to 12 months, on expiry we can then either put the tenant on a monthly periodic tenancy or renew for another 6 to 12 months. If a landlord wishes to end a tenancy he will have to give the tenant 2 months notice and a tenant 1 months notice. A landlord can make a rent increase at the end of the current term.
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.
Our staff have been trained and receive ongoing training on the various legal aspects of lettings, 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. Landlords have to comply with the below legislation.
New Tenant Marketing & Letting: £500 per property
Monthly Management: 10%+vat of the monthly rent
Deposit Scheme Registration: £36 per year
New Inventory: £120
Tenancy Renewal: £110
Change of Tenants: £110