Issuu on Google+

H.G.Estates

THI NKI NG OF LET TIN G

THINKING OF LETTING WITH H.G.ESTATES LTD


Through our considerable experience of Letting and thereafter property management we have established that our clients have differing requirements in terms of service and expectations. Our extensive range of services is designed specifically to meet the needs of landlords and can be tailored to suit ones own requirements. We have taken the opportunity to set out below some of the various services available to our prospective clients. It is important to note that we will discuss the levels of service required by the client and agree a package and fees to meet those requirements at the time of the valuation. FREE NO OBLIGATION VALUATIONS AND ADVICE We will visit your property free of charge and will advise you on all aspects of the letting industry from rental value to the current legislation covering the letting market. FINDING A SUITABLE TENANT H.G.Estates are extremely proud of the professional image we present to all our customers and your property will be marketed through our extensive window displays with high quality details, a user friendly website, emailing lists, local newspaper advertising to suit your address and our current waiting tenants will be contacted as soon as your property is marketed. TENANT SCREENING & SELECTION Once we receive an application for your property we will contact you and go through all the known details regarding the application. If acceptable we will send the application off for referencing with an independent referencing company who will provide us with a full reference within a couple of days. You will be contacted and informed of every step of the process and presented with all the information to enable YOU to make the right choice of who lets YOUR property. H.G.Estates will NOT let your property without your knowledge. LETTING THE PROPERTY Once a suitable tenant has been found we will draw up the tenancy agreements, a detailed schedule of condition including photographs and take the initial rent and deposit. The deposits are then sent to the DPS (Deposit Protection Scheme) as the Housing Act 2004 requires, as of 2007, anyone who accepts a deposit for an Assured Shorthold Tenancy (AST) to belong to a designated scheme to protect it. The scheme must also provide a resolution service should a dispute arise about the allocation of the deposit on expiry of the tenancy. On the day the tenant moves in we will meet them at the property and go through all the relevant paper work and provide them with all the necessary information to pay rent and deal with problems.

H.G.Estates

THI NKI NG OF LET TIN G

**AT THIS POINT IF YOU ARE GOING TO MANAGE THE PROPERTY YOURSELF THEN WE WILL SEND YOU ALL THE INFORMATION NEEDED TO PROCEED WITH THE MANAGEMENT OF YOUR PROPERTY AND THE TENANTS CONTACT DETAILS.**


PROPERTY MANAGEMENT Management of your property can comprise of many different services which we are more than happy to tailor to suit your own requirements. H.G.Estates will collect the rent for your property and send it on to you minus any commissions and expenditure incurred during that period. H.G.Estates carefully monitor all rent payments though cannot be held responsible for non-payment of rent by any tenant even though we will do our utmost to deal with any rent arrears. Every property needs repairs or maintenance at some point, we will be the tenants first port of contact and will deal with all repairs on your behalf. We will consult with you before any work is carried out to discuss issues, quotes etc to make sure you are aware of any work that is to be done. We have our own contractors or can use your preferred contractors, rest assured the companies we use meet our high standards of service, reliability and value for money. H.G.Estates will carry out inspections of your property approx. once every three months to make sure the property is being kept up to a decent standard by the tenant. We will send you a report of our findings each time one of these inspections is carried out. Towards the end of the tenancy we will contact you to discuss what you would like to do, whether it be to allow the tenants to stay for a further term, serve notice on the tenants or possibly even sell the property. If the tenants move out there are guidelines and legislation in place that have been set by the NAEA as well as the Housing Act 2004 that state that the deposit needs to be returned to the tenants minus any agreed deductions within 14 days. We will deal with this aspect of the tenancy on your behalf liasing with both you, the tenants and the DPS to ensure that you are completely happy with the condition of your property before any deposit is returned. EMPTY PROPERTIES If there is an extended period between tenants we strongly advise that you should ensure that the property does not deteriorate. In the summer there will be a rapidly growing lawn. During the colder months you may want to consider leaving the heating to come on a couple of hours per day to reduce the possibility of a freezing water pipe. MORTGAGES If there is a mortgage on the property you wish to rent out then you must seek permission of the lender to do so. Sometimes your lender will require information from ourselves before they approve the property for rent. H.G.Estates cannot be held responsible for any action resulting from you failing to obtain suitable authorisation from your lender.

H.G.Estates

THI NKI NG OF LET TIN G INSURANCE Even though you are not going to be living in the property it is strongly advised that you maintain buildings insurance (if you have a mortgage it will normally be compulsory anyway) and if the property is let with furniture then also to have contents insurance. You will need to check that your insurer will provide cover if you are letting the property. It is also advisable that you consider additional cover such as accidental damage,malicious damage etc. H.G.Estates would be more than happy to discuss or provide f u r t h e r d e t a ils r e g a r d in g in s u r a n c e on request.

OVERSEAS LANDLORDS When letting property and collecting / paying rents for landlords overseas, agents / tenants are obliged by the Taxes Management Act (TMA) 1970 (or under similar powers of any future tax legislation) to deduct monies equivalent to the basic rate of income tax to cover any tax liability. In many cases the landlords tax liability is minimal when all allowances are deducted. In order for rents to be paid without tax deducted at source, the landlord is required to complete an NRL1 form (available from our office) to apply for an approval number. This will enable the agent / tenant to pay the rent to the landlord without deducting tax at the basic rate of income tax at source.


SAFETY IN A RENTAL PROPERTY GAS The Gas Safety (Installation and Use) Regulations came into force in 1994 and states that all gas appliances and flues in rental accommodation must be checked every 12 months by a CORGI registered gas engineer. A copy of the appropriate record / certificate must be given to the tenants. If any of the appliances / pipe work is found to be dangerous it must not be used and must be removed, replaced or repaired. Without a valid Landlords Gas Safety Certificate a tenant cannot move in. We can arrange for this work to be carried out if required. ELECTRIC All landlords have an obligation to provide a safe environment for the tenant. The electrical installation must be of a safe standard. A qualified electrician, needs to visit the property to carry out a fixed wiring inspection to produce a report and advise on any work that is required in order to bring the installation up to a suitable standard. We always recommend any remedial work required to bring the property up to a safe standard is carried out to reduce you liability, improve the safety of the tenant and also for your peace of mind. We can arrange for this work to be carried out if required. FURNITURE AND SOFT FURNISHINGS The Furniture and Furnishings Fire Safety Regulations act 1988 as amended in March 1993 state that all furniture which comprises part of a letting which commenced after March 1993 must comply with the following regulations: The furniture must carry a label to confirm the item conforms to the regulations, which is usually sewn into the item. Examples of furniture that need to meet these requirements are; three piece suites, cushions, beanbags, mattresses, headboards, pillows, sofa beds, futons are only but a few. If you are not entirely sure as to whether your furniture complies please ask our office for more details or remove the item from the property. SMOKE DETECTORS All properties built since June 1992 must have mains operated smoke detectors from new. For properties built prior to 1992, it is advisable that each floor has at least one smoke detector. As company policy, we insist that smoke alarms are fitted to each residential floor. If required we can arrange for a contractor to install them.

H.G.Estates

THI NKI NG OF LET TIN G

All Landlords have a duty to provide a safe environment for tenants to live in. Failure to comply with current legislation could result in a prosecution, fine and possibly a prison sentence. It could also result in a tenant's death. In brief we can offer you a complete, comprehensive, professional and high standard of letting service. We can guide you through daunting process giving you piece of mind. If at any time you require any further details or clarification on any property related issue whether sales or lettings, please do not hesitate to contact our office.

“Thank you again for all your help......... you have been a great help and true professional through every aspect of our dealings together Good Luck up there with the business.....� Mr. G Bird

If you would like any further details on any of the issues raised in this publication please feel free to contact H.G.Estates Ltd on 01283 568 770


Thinking Of Letting (A Guide for Landlords)