A landlords guide to letting with Stags
stags.co.uk
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Letting your home or investment “Your property is one of your most valuable assets, we understand the importance of protecting that investment while ensuring every aspect of your tenancy runs smoothly. Combining experience, local knowledge and up-to-date compliance expertise, we provide a service built on trust, communication, and reliability, giving you the reassurance and peace of mind that your property is being looked after with care.” Claire Pile MARLA Partner, Head of Residential Lettings This statement is at the heart of what our lettings teams strive to achieve at all times. We understand that when you, as a landlord, instruct your agent to let either your home or investment, you do so in the clear understanding that your expectations will be fully met. The successful letting of a property is a clear balance between achieving an optimum market rent, whilst securing the most suited and appropriate tenant for your property.
Experts in letting and managing property throughout the South West.
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stags.co.uk
Why Stags? Strong South West Coverage We have a linked network of over 25 offices and locations across the South West, plus The London Office, all of which can access our entire database. This exposure maximises our ability to promote your property to the widest audience of prospective tenants.
Quality Tenants Our active database of over 6,000 prequalified applicants means we strive to provide you with tenant choice.
Our Team With experienced and knowledgeable staff, supported by a dedicated
6,000
Over potential tenants looking for property.
accounts team, we will deliver a service focused on maximising your return whilst maintaining your investments capital value. Our teams are kept up to date with all legislation and compliance changes, and undertake regular internal and external training.
Proven Record
Peace of Mind
With an average of 200,000 monthly visitors to our website, we make sure your property will be showcased to thousands of potential tenants. Stags will also promote your property through major property portals.
As fully bonded and licensed members of the Association of Residential Letting Agents (ARLA), The Tenancy Deposit Scheme (TDS) and Royal Institute of Chartered Surveyors (RICS) we follow strict codes of conduct to ensure we maintain the highest professional standards at all times.
On average, over
With proven low rent areas and minimal void periods our proactive approach to managing your property will provide consistent yield and return.
Digital Marketing
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Stags’ average tenancy is
Over offices and locations throughout the West Country.
31 months.
200,000
visitors every month to our website.
Don’t just take our word for it...
M Newboult
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H Ward
As a first time Landlord I am new to everything and they took the time to walk me through what needs to be done, and even helped with a valuation to secure a buy-to-let mortgage. Excellent service, very friendly and helpful and with so many years experience behind them they have a great nose for a good tenant.
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Letting my property through Stags has been a smooth and productive experience. They engaged well with me from the outset, with constant updates, visits, calls and emails. I found them extremely proactive in their search for tenants... S English
stags.co.uk
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“I have used Stags for many years and always found them to be very efficient and had full confidence in them managing my property. They were always very efficient, informative and proactive with any issues needing addressing.
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What we do Our aim is to guide you through the process of letting and managing a property from beginning to end.
Market Appraisal & Due Diligence No Obligation Market Appraisal Initially we will arrange to visit your property giving detailed advice on the letting process to provide an accurate rental valuation based on the current market. We can also advise on any enhancements to increase the rental value of your property.
Legislation & Regulation We will assist to ensure that you and your property comply with all current legislative requirements.
Safety & Compliance Your property manager will guide you through the various safety and compliance measures that you need to be aware of, ensuring any necessary action is taken.
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stags.co.uk
Insurance, Finance & Taxation
Targeting Potential Tenants
Although these will be based on individual circumstances we will advise so that you are aware of all your obligations and have the appropriate elements in place.
We utilise our database of pre-qualified potential tenants looking to rent, to circulate details of your property, meaning it reaches those looking for a property similar to yours.
Marketing & Viewings
Viewings
Property Preparation How your property is presented can make a significant difference in the level of interest it receives. We will provide guidance on how to present your property so that it appeals to the widest audience of prospective tenants.
Market Launch Once instructed, we will produce detailed marketing particulars to include high quality photographs and room dimensions. In addition, details will be prepared for online digital marketing to include property portals.
Where required, we conduct fully accompanied viewings on your behalf, which enables us to further asses their suitability. Our experienced staff will be available to carry out viewings six days a week and offer flexible weekend and evening appointments where possible.
Remarketing/Reletting We will inform you as soon as your tenant notifies us of their intention to vacate. Following confirmation of letting terms, to include a rent review, we will relaunch the property as soon as possible, minimising void periods to help maximise your return.
Tenant Selection & Move In Suitablility & Referencing Finding suitable tenants is one of the fundamental elements of the letting process and we aim to provide landlords with a choice of suitable tenants. We will assist in assessing the suitability of prospective tenants using a specialist referencing agency to carry out rigorous checks.
Tenancy Agreement Following agreement of tenancy terms and start date, we will draw up the tenancy agreement appropriate for your type of tenancy. In addition, we will issue the tenant with the deposit protection prescribed information along with all other required documents.
Schedule of Condition & Inventory A schedule of condition and inventory is a vital piece of documentation. It details the condition of the property, to include garden and outside areas, meter readings, plus detailed photographs. This document is presented to the tenant at the commencement of the tenancy and provides evidence should a dispute arise at the end of the tenancy.
Deposit
equivalent of 5 weeks’ rent) from the tenant and ensure that it is registered and protected within the Tenancy Deposit Scheme, where it will be protected for the duration of the tenancy, and provides an independant means of settling any disputes.
In addition to the collection of the monthly rent, we will ensure that all safety and compliance requirements are met and that maintenance issues are dealt with promptly. Your Property Manager will carry out regular inspections to ensure the tenancy is being conducted in a satisfactory manner as well as proactively advise on how to maintain the value of your investment.
Property Management Options Rent Guarantee Let Only We will market and promote your property to secure a suitable tenant. Following satisfactory references and credit checks we will prepare a tenancy agreement and agree the move in. Once the tenancy has been completed, we will handover the day to day management of the tenancy to you, the landlord.
Rent Collection In addition to Let Only we will collect the rent on your behalf and transfer directly to your nominated account providing you with a statement each month. We ensure that all rent payment issues are identified and dealt with immediately.
We can put you in contact with our reference agent who can provide you with a competitve quote.
Rent Reviews We will use our expert knowledge of your property and the market to review and negotiate the rent on your behalf, if instructed. We will ensure that you get the optimum balance between financial returns and tenancy duration.
Checkout Inspection Depending upon your chosen service option, following the end of tenancy we will conduct a checkout inspection, provide a detailed report and negotiate the return of the deposit on your behalf.
Full Management Our Full Management service is designed to take the stress and strain out of managing your property.
Prior to a tenancy commencing we will collect a deposit (in most cases the
stags.co.uk
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Our service options We provide a comprehensive range of service options, all designed to streamline the letting process, which we can tailor to your specific needs. We offer three main service packages as listed below.
Initial visit to assess and advise on the most appropriate way of letting Marketing advice and guidance Advice on legal obligations and property compliance Organisation of EPC (if required) Full colour brochure with photographs Marketing through over 25 offices and locations plus The London Offiice Extensive local and regional advertising Properties available on major property portals Extensive database of potential tenants Accompanied viewings (if required) Full credit checking and referencing to include Right to Rent checks Tenancy agreements prepared and exchanged Collect and arrange for the payment of first month’s rent and deposit Provide all required documentation to the tenant Register the deposit with the TDS (Tenancy Deposit Scheme) Provision of standing order mandate for future rent payments Continue to receive rents and remit with statement every month Dedicated accounts team monitoring the payment of rent Annual income and expenditure statement (if requested) Make payment to contractors with copies of invoices sent to landlord Arrange legally required safety checks Preparation of schedule of condition/inventory Notification to utility providers and local authority Test of smoke/carbon monoxide alarms Serving of section 8 notice Negotiating tenancy renewal and preparing associated paperwork Rent review and serving of Section 13 notice End of tenancy inspection and negotiation of deposit return Organisation of routine repairs and maintenance Arrange renewal of legally required safety checks Deal with ongoing tenant enquiries and issues Regularly visit the property followed with a written report Void property management and inspections
Additional services are available, see Stags scale of landord fees and Agency Agreement.
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stags.co.uk
Let Only
Rent Collection
Full Management
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Key issues to keep in mind There are a number of important financial, regulatory and safety issues that you, as a Landlord, need to be aware of and act on. Energy Performance Certificate (EPC)
your behalf. However, every landlord is different and we would recommend you consult with your accountant to ensure you are compliant.
Electrical Installation Condition Report (EICR)
A valid EPC with a current rating of E or above is required for all let property. The EPC rating must be included within all marketing and advertising material. Where required, we can assist in arranging for an EPC to be carried out by a suitably qualified assessor. We can also offer guidance in order to improve your propery’s energy efficiency.
Insurance It is imperative that you insure your property, to include fixtures and fittings by an insurance policy specifically designed for a let property. It is a tenant’s responsibility to ensure their contents are adequately protected for the duration of the tenancy.
Electrical supplies, fixed wiring and electrical equipment, must be inspected by a qualified electrician with a satisfactory EICR report provided. The inspection and recertification is to be carried out every 5 years with visual inspections recommended between tenancies.
Taxation
All portable appliances supplied by the landlord must be checked for electrical safety. Even unfurnished properties often contain appliances which fall under this requirement.
Fire Detection Equipment
Landlord Gas Safety Certificate
Any property with a gas appliance must be inspectied and certificated by a Gas Safe Engineer on an annual basis.
Chimneys It is now the landlord’s responsibility to arrange and pay for the cost of chimney sweeping. This is usually undertaken annually; however, we recommend that you check the requirements of your building insurance as more frequent sweeping may be required.
Private Water As a minimum, all let property must have a tested and functioning smoke alarm fitted on each floor of the property. Heat detectors are also advisable in kitchens.
Carbon Monoxide
All rental income must be declared to HMRC. For most landlords this will involve the completion of an annual selfassessment tax return. For non-resident landlords, where we are managing the tenancy, we will deduct tax where required and submit quarterly returns to HMRC on
Every landlord has the obligation to ensure that their property is inspected and the risk of legionella bacteria assessed. Any areas highlighted to be of risk should be monitored with all possible steps taken to minimise the risk.
Portable Appliance Test (PAT)
Financing Where a property is subject to mortgage finance you will need to have consent to let from your lender. This may mean you will need to move to a buy-to-let mortgage.
Legionella Risk Assessment
Any property with a solid fuel burning or gas appliance, to include gas boliers, must have a tested and functioning carbon monoxide detector fitted in the correct position within the room where an appliance is present.
Where the property has a private water supply you are required to maintain the supply, carry out regular servicing and ensure that the water provided to the tenant is fit for human consumption.
Fire Safe Furniture & Furnishings Landlords must ensure that any furniture and furnishings provided meet fire safety standards and are made from fire resistant materials.
‘Our reputation is built upon recommendation’ stags.co.uk
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stags.co.uk If you require a free market appraisal, general lettings advice or are looking to purchase an investment property, contact a member of our team.
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Barnstaple.........01271 322837
Kingsbridge.......01548 853131
Torquay.............01803 200160
Bideford............01237 425030 Bridport.............01308 428000 Dorchester.........01305 443443 Dulverton...........01398 323174 Exeter................01392 671598 Honiton...............01404 42553
Launceston.......01566 771800
Totnes...............01803 866130 Truro..................01872 266720 Wadebridge.......01208 222333 Wellington..........01823 662822
lettings@stags.co.uk stags.co.uk
Okehampton.....01837 619818 Plymouth...........01752 223933 South Molton.....01271 322837 Taunton.............01823 447355 Tavistock...........01822 619818 Tiverton.............01884 232872
West Cornwall...01736 223222 Yeovil.................01935 475000