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Letting Your Property

We recognise that right from the start it’s helpful for you to know about how we operate. For an explanation of each stage in the Letting process please scroll down this page.

Selecting an Estate Agent
When considering which company to use, watch out for those suggesting inflated values (which can leave you languishing on the market and lose you weeks of rental income) or knock-down commission (you get what you pay for). At House Estate Agents the initial rental valuation of your property is free. You only pay commission when we successfully let your property and you’ll always have access to the partners of the company.

Preparing Your Property
Tenants are usually prepared to pay more to get more while a property in first-class order can usually be let more easily. The following features can appeal to potential tenants: Fresh decorations – light colours, such as white or off-white, are always acceptable. High quality carpets of the same colour throughout. These should be light and neutral – biscuit/beige colours are popular, as are wooden floors. Attractive, good-quality, well-lined curtains or blinds. Well-maintained exterior and tidy, well-planted gardens.

Furnished or unfurnished
There’s often no difference between the rental achieved for a property whether it is furnished or unfurnished. ’Unfurnished’ is normally defined as being fully carpeted (or with wooden floors in the reception areas), fully curtained and with white goods provided in the kitchen. ’Furnished’ is usually defined as being a property ready for someone to move into. The furniture needs to be good quality and the property should be uncluttered. We’re more than happy to advise you on what should be left and what should be removed.

Fixtures & fittings
All fixtures and appliances should be serviced before the start of the tenancy and in good working order. If you have instruction booklets, make them available or write out clear instructions for use. Your property should always offer:

The Gas Safety (Installation and Use) Regulations 1994
On 31st October 1994 the Gas Safety (Installation and Use) Regulations 1994 came into force. Under Regulations 35(2) it is duty of any person (i.e. Landlord) who owns a gas appliance and pipe work is maintained in a safe condition so as to prevent risk or injury to any person. The Regulations cover all appliances and all types of Gas i.e. mains propane or calor gas for heating, lighting, cooking or other purposes for which gas can be used. The owner (i.e. Landlord) of any gas appliance must ensure that each appliance is checked for safety at least every 12 months by a qualified gas engineer, e.g. an employee of British Gas or a CORGI registered person. A record must be kept of all safety inspections and the results open to Tenants inspection by law. The Landlord must have a Gas Safety Inspection carried out before a Tenant(s) occupies the property and signs the tenancy agreement. A copy of the certificate must be given to the tenant before the tenancy commences. If the Landlord is unable to, House Estate Agents will provide the certificate at the Landlord/s expense.

The Electrical (Safety) Regulations 1994 and Plugs & Sockets (Safety) Regulations 1994
It is a criminal offence to supply unsafe electrical equipment with rented accommodation. The maximum fine is £5000. The above Regulations apply to portable electrical equipment such as: Electric heaters, lamps, televisions, radios, vacuum cleaners, irons, toasters, microwaves and other kitchen equipment. Built – in electrical goods such as cookers and certain storage heaters are not covered by the Regulations, however, Landlords should be aware that any person injured by the Landlord’s property could sue for damages. Electrical items must be examined by a qualified electrician prior to Tenant’s taking occupation and if required we can instruct an approved contractor to carry out this check on your behalf. The portable appliance test must be undertaken for each new set of Tenants.

Tax
Current legislation governing the collection of tax on rent income for non-resident Landlords came into effect from April 1996 under the 1995 Finance Act. The main changes affecting non-resident Landlords are as follows:

The act will not affect the Landlord’s actual tax liability but it will affect the way in which monies are collected by the Inland Revenue. A non-resident Landlord will be able to apply directly or through his UK accountant to the Inland Revenue self-assessment on the tax from the rental income. If granted and confirmed by the Inland Revenue this will enable the agent to release the rent gross without making a tax retention thereby easing the Landlord’s tax flow. Joint owners must each apply to the Inland Revenue.

If the Landlord is not granted self-assessment, the agent will have to pay to the Inland Revenue on a quarterly basis the appropriate income tax percentage of the net rentals. The calculation of tax paid by the agent will not include mortgage interest, depreciation or other Tax-deductible items. Any overpayment of tax will then need to be reclaimed at the end of each year by the Landlord submitting a statement of accounts to the Inland Revenue. When considering applications of self-assessment the Inland Revenue will look favourably on landlords who have their own tax affairs in order.

Tenants References
Once we have a prospective tenant, a holding deposit is taken in order to establish a level of commitment. We engage an independent licensed credit reference agency, to take references on the prospective tenant. These cover employment, computerised credit checks, bank reference, and previous Landlord or character references.

Consents
If you have a freehold property with no mortgage on it, there should be no barriers to letting it out to tenants. If you have a leasehold property however, you must check your lease in connection with sub-letting and obtain the necessary consent if required. If you have a mortgage on your property, consent may also be needed from your lender.

Insurance
You’ll need to make sure both the property and its contents are fully insured. This is normally provided for in the Tenancy Agreement. You must inform your insurance company that the property is to be let, check that the conditions of the policy are complied with and that there are no restrictions on letting.

Inventory
We arrange to have the Inventory checked and signed by the Tenant and the keys are handed over at the commencement of the Tenancy. We use a specialist firm of Inventory clerks and we cannot accept any liability for their omissions or errors.

Management
We offer a highly professional management service, designed to take care of any day-to-day problems. We’ll help you with: