Landlord Info Page
Please click on the headings below for further information on our services, current legislation and property requirements.
One of our valuers will be more than happy to come round to your property and give you a current achievable rental level and also advise on our:
- Management options
- Terms of business
- Landlord responsibilities
- Tenant responsibilities
- Improvements
- Furnished or Unfurnished
- Current legislation (Gas, Furnishings etc)
Once we take on your property we will be responsible for marketing the on our web site www.milesproperty.co.uk and all the well known property portals such as Zoopla, Primelocation, Findaproperty and Globrix. We will also with you permission put up a To Let board. We also have a large data base of current applicants who we can match your property to.
We will accompany a prospective tenant on all viewings and give regular feed back to our clients.
Tenant Selection and Referencing
We believe finding the right tenant is key to a smooth tenancy. We carry out extensive references such as credit checks, previous landlord and employer’s references. If the tenant meets with our stringent requirements then we will be able to organise 6 month or a 12 month Rent Guarantee for you. In some cases a prospective tenant may not meet with all the requirements and we would ask that they provide us with someone suitable to act as guarantor.
1. Full Management - 9%
The full management option is designed for the busy Landlord who does not want to be burdened with the day to day matters that arise or the Landlord who simply lives away from the local area. This offers complete peace of mind as we will deal with all tenant quires and maintenance matters through out the tenancy. You will be accounted to and sent statements monthly and we will carry out 6 monthly management visits. We will also send out legal notices should a tenant default.
2. Rent Collection - 7%
The Rent collection Service will suit the Landlord who is happy to deal with all the day to day matters that arise including management visits but, should anything go wrong, need a hand with serving notices through default or simply wanting their property back.
3. Tenant Find - Half Months rent (£500 min.)
The Tenant Find Service suits the experienced Landlord, one who again is happy to deal with the day to day matters that arise and who is also familiar with tenancy law.
All fees shown above are not subject to VAT.
Since 6 April 2007, all deposits (for rent up to £25,000 per annum) taken by landlords and agents for assured shorthold tenancies (AST) in England and Wales have had to be protected by an authorised tenancy deposit scheme. With our Full Managed & Rent Collection services we will hold the deposit and register it with The Dispute Service which is an insured Tenancy Deposit Scheme. We can also arrange to hold the deposit on our Tenant Find Service should the Landlord so wish. If however the landlord wishes to hold on to the deposit then the landlord must provide evidence to the tenant that the deposit is either held within the Government Custodial Scheme or through a legitimate Insured Scheme.
As a Landlord you are bound to:
Maintain the structure of the
property and be responsible for any contents/appliances and their
upkeep.
Allow the tenant quiet
enjoyment of the property.
Insure the building and any contents that belong to the Landlord.
The Landlord is also responsible to ensure that the property has a Gas Safety check and this must be done by a Gas Safe qualified engineer. This is essential as the tenant must be given a copy of the gas safety certificate (CP12) when they commence their tenancy and must be issued any subsequent renewal. Failure to comply with this is a criminal offence. We will organise the initial gas safety and any renewals on the Fully Managed Service.
If the landlord decides to leave any furniture or furnishings then they must comply with the Furniture and Furnishings (Fire)(Safety) Regulations 1988 (amended in 1993) act. Generally most furniture produced after 1989 will satisfy theses standards. A label must be present on all soft furniture including mattresses, sofas and armchairs. If know label is present then the possible item could be non-compliant and must be removed.
The Electrical Equipment (safety) Regulations 1994
Landlords are required to ensure that all electrical wiring and electrical appliances are in a safe working condition. Whilst there is no statutory requirement to undergo a safety check it is strongly recommended that a qualified electrician checks all appliances and any defects be repaired and any unsafe items removed.
Under Building Regulations properties built after June 1992 must have mains, interlinked smoke detectors on each floor. There is no specific legislation for older properties but we strongly recommend that you install independent smoke detectors on each floor.
Rental income is viewed as unearned income and is subject to UK tax. A Landlord should consult either their accountant or the Inland Revenue with regard to their liabilities. If a Landlord’s normal place of abode is not within the UK then he/she is normally considered as Non-resident landlord. The Landlord in this case must apply to the Inland Revenue for an exemption number otherwise we are legally obliged to withhold 22% of the rental income and pay this over to the Inland Revenue. Please call for further details.
Please also not that certain items can be offset against your rental income. Please keep all copies of your monthly statements, invoices and receipts.
If you have any further queries then please call us on 01825 840070 or email us at info@milesproperty.co.uk