Letting – Landlord Info

Deciding which Agent to instruct to let your property can for some Landlords be a very daunting thought.

As a homeowner or Investment Landlord who has taken care and pride in their property, you want to ensure that your Letting Agent will find Tenants that will continue to maintain the property to the highest possible standard as well as pay their rental on time and in full.

As a Letting Agent we have a careful selection process of all Tenants. As a company we take a personal interest in providing you with the best possible service.

Our staffs has an in-depth knowledge of the Letting market, to achieve the best possible rent for your property and the technical know how to oversee and manage your property for a hassle free term of tenancy.

Whatever your needs, whether you are unable to sell your existing home or are an investment Landlord professionally involved within the property market we are sure to have the answer for you. Our specialist rental valuers and management team is always at hand to provide you with advice at all times as well as securing you the correct Tenant for your property.

Upon receipt of your written instructions of our Letting and Management Terms of Business, and an indication which service you require we will immediately prepare full details of your property for general marketing and circulation to our perspective Tenants.

THE SERVICES

INTRODUCTION ONLY

• Prepare particulars of the property and rental value.
• Market the property for Letting.
• Obtain full references on all prospective Tenants.
• Inform the Landlords of Safety Regulation to adhere to.
• Prepare the Tenancy Agreement and relevant notices.
• Collect the first month’s rental in advance.
• Collect a security deposit/Bond.
• Advise the Tenants of the procedures for registering with the appropriate domestic services.
• Arrange Tenancy Deposit Scheme Papers (Optional).
• Prepare an Independent Inventory (optional).
• Check the Tenants into the property (optional).

FULL MANAGEMENT

(IN ADDITION TO THE INTRODUCTION ONLY SERVICE)

• Arrange for any property maintenance and repairs as per your instructions (subject to Terms of Business).
• Carry out Quarterly property visits and report to the Landlord.
• Liaising between Landlord and Tenant.
• Supervise that the Tenant(s) comply with the Terms of the Tenancy Agreement signed.
• Review rental values and renewal of tenancies.
• Arrange Tenancy Deposit Scheme Papers.
• Arrange for check-out of the Tenant at the end of the Tenancy (optional).

EMPTY PROPERTIES

From 1st October 2008. all 'social' & 'private' landlords are required to have an Energy Performance Certificate (EPC) by law.

When buildings are to be rented out, the landlord is responsible for ensuring that a valid certificate is made available to all prospective tenants before advertising or proposing to rent the property.

The certificates are valid for a period of 10 years unless the property is altered which affects the energy consumption of the building.

Tenant Referencing

All prospective Tenants are interviewed before being recommended. If accepted full referencing will then take place, a manual referencing system will be used where the following references will be obtained where possible.

• Photographic ID
• Employers Reference
• Bank statements
• Wage Slips
• National Insurance No.
• Previous Landlord (if applicable)
• Guarantor (if applicable)

Deposit

Arrangement will be made to collect a deposit from the prospective Tenant at the start of the tenancy to cover for any dilapidations and damage plus for any breach of their Tenancy Agreement obligations.

For Rent collection or Management services we will hold the deposit on behalf of all parties as Agent.

For Letting only service the deposit will be passed on to the Landlord to hold until the expiry of the tenancy.

Please note that as from 6th April 2007 government legislation has changed regarding the holding of deposits. All landlords will now be subject to Tenancy Deposit Scheme, which will be separately chargeable to Landlords (rates to be advised). If Landlords are unwilling to pay the charges, we will NOT – by law - be able to hold a deposit from the tenant.

Rent Payments

The first month’s rental is collected in advance. It will be up to the Landlord to collect any future rents from the Tenant if we are providing a Letting only service.

If you chose the Full Management services the rent is paid into your Bank Account or forwarded onto you within seven working days each time the rental is paid by the Tenant.

Tenancy Agreements and Notice(s)

A Tenancy will be prepared for all Tenants to sign before moving into the property (except where the Landlord provides there own).

The Agreement will include comprehensive terms for the Tenants to adhere to. Under the Housing Act 1988 (amended 1996) an Assured Shorthold Tenancy will be used, except in cases of a company let then the relevant company Agreement will be drafted as with an Assured tenancy. The Standard Notice for repossession will also be drafted to bring the tenancy to an end at the expiry.

Inventory

An inventory should be prepared to ensure that all items of Furniture, Fixtures and Fittings left at the property are recorded and their condition noted.

The Tenants deposit will be held against any damages or excess wear and tear shown against the inventory.

The inventory can be provided by the Landlord or by us. Further detail of this service is provided in our Terms of Business.

LANDLORD’S CHECK LIST

Mortgaged Properties

You should notify your Building Society or Bank if the property is mortgaged that you are thinking of letting the property. It is usually one of the conditions of your mortgage that you apply for permission to sub let the property.

We also recommend that your building and content Insurers are advised of your plans as they too may need altering to cover a third party residing at the property. (We can assist in recommending specialist insurance companies dealing with insurance’s for rented properties. Please speak to a member of staff).

Leasehold Properties

It is also wise to check that if the property is a lease hold that you confirm with the freeholder that there are no restrictions or covenant which prevent you from letting the property and the Tenants must adhere to during the Tenancy period.

Non UK Resident Landlord

If you are going to reside outside the UK we are bound under the Taxes Management Act 1970, Section 78 and 83 to assess you at the basic rate of income tax (variable) due from rents we collect on your behalf if you are not “self assessing” your own tax.

We should receive a letter of confirmation from your Accountant and Tax Office confirming that they accept liability for payment of your tax. (Please see your Accountant for self-assessment advice).

Alternatively, we can instruct a Tax Specialist or Tax Adviser who can give you advice or can be employed by you to take care of your tax affairs whilst abroad. (See our Terms of Business). Keys

It is important to have several keys cut for the property, enough for each adult Tenant due to move into your property plus a set for our Management Department (if applicable) for security and access if so required.

Legal Costs

Should there be at any time any need to take legal action against the Tenant for what so ever reason the Landlord will be responsible for this action plus any necessary costs incurred. For managed property assistance will be given to the Landlord with regards to documentation and administration with reference to the tenancy.

We can also provide a tenant eviction service. Please click here for further info

Transfer of Services

If you have employed us as your Managing Agents the only service that we are not able to transfer for you is the telephone, as BT or cable will only deal with the subscriber and not with a third party. Please, therefore, arrange transfer on the day the Tenants take occupation if possible. Your assistance will also be welcome with any final meter readings or notification of services.

If we are not managing the property, you will need to arrange the following: -

Gas and Electricity

Inform them of the date of transfer to the new Tenants, plus their names the meter reading and your forwarding address in order that they can send you a closing account.

Water Rates

Water Rates will become the Tenant’s responsibility in most cases, but please advise them of your new forwarding address. If your water charges are on meter the tenant is responsible and a meter reading and date of transfer needs to be supplied to the Authority together with you’re forwarding address.

Council Tax

Once again this is payable by the Tenant during the tenancy. Please advise the Local Authority the date of transfer to the new Tenant and of your forwarding address in order that they can send you a closing account.

Telephone

It is best to arrange the transfer for the actual day that your Tenants will be moving in. If there is a break between subscribers, there can be a charge depending on the length of time that the service has been disconnected.

Mail Redirection

The Post Office offers a service to redirect your mail, which we recommend you, arrange prior to vacating the property for the term of the tenancy.

You should also inform your bank, employers, friends and family who are likely to write to you and inform them of your new address.

Safety Regulations

Whether requiring a Letting only service, Full Management services, Landlords have the responsibility for the safety of both the Tenant and their own property during the tenancy.

The following regulations must be adhered to without fail by the Landlord and as Agents, we must ensure that they are carried out.

Fire and Furnishings (Safety) Regulations 1988 (1993)

All soft furnishings such as settees, sofa, beds, padded chairs, pillows cushions and so on must comply with the Fire Resistance requirements contained within the regulations.

Items of furniture made prior to 1950 are termed as antiques and as such are excluded from the regulations.

Usually a label is attached to the item of furniture to confirm it is acceptable. We will at all times check your furniture and advise you accordingly to the best of our ability. Gas Safety (Installations and Use) Regulations 1994 (1996)

A qualified Engineer (CORGI or British Gas) must also check all gas appliance and installations within the accommodation, on an annual basis for its safe use.

This includes such items as Gas Fires, Central Heating boilers, Gas cookers and other gas appliances. It also insists that flues and chimneys are clear of obstructions and in the correct place.

The engineer must issue a certificate and a copy presented to the Tenant at the start of any tenancy.

Any items that fail to comply with the regulations must be fixed or removed immediately. The Electrical Equipment (Safety) Regulations 1994

These regulations require that all Electrical equipment left at the property be "safe and of no risk or injury to human or animal".

They should be checked that flexes, fuses and electrical out put are safe and correct. Items that must comply are all portable electrical items such as electric cooker, fridge’s, washing machines, kettles, toasters etc.,

As agents we cannot guarantee which items are safe or not and will recommend that a qualified electrician checks these items (a charge will be made). This can be carried out by your own electrician.

Marketing

If you were to choose our services, we can offer you the following marketing package:

We run a 24 hours / 7 days a week advertising campaign for all properties. We advertise properties in the following media’s: - • For Sale Board Placed at your property • Local newspapers such as the Express, Recorder, Gazette • Internet advertising on our own website • Links to our website within companies such as Loot, Yellow Pages (Yell), Evening Standard, The Telegraph, BBC, Sky TV to mention just a few! • We are currently in negotiations with West Ham FC to advertise within the Football Club

As an established estate agency for over 25 years, we are probably one of Newham’s longest running and best known estate agents. And being a family run business, we like to treat all of our clients as family and as such we pride ourselves in selling your property as if it was one our own.

Now how many Estate Agents can truly say they have the levels of advertising and support that we can provide to you?

Important Note:

This is only a brief guide to the regulations. Further information and details are provided in our Terms of Business and by asking a member of staff.

Terms & Conditions of Business

This brochure has been compiled as a guide to Landlords and does not form or is in any way a substitute to our Terms and Conditions of Business.

Once, instructions have been received to let your property our terms and conditions of business will be provided, detailing further the services, charges and conditions for you to read and sign if you are in agreement.