Before a property can be let, there are several matters which the owner will need to deal with to ensure that the tenancy runs smoothly, and also that he/she complies with the law. If you require further advice or assistance with any matter, please do not hesitate to contact us.
If your property is mortgaged, you should obtain your mortgagee’s written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.
If you are a leaseholder, you should check the terms of your lease, and obtain any necessary written consent before letting.
You should ensure that you are suitably covered for letting under both your buildings and contents insurance. Failure to inform your insurers may invalidate your policies.
We recommend that you arrange for regular outgoings e.g. service charges, maintenance contracts etc. to be paid by standing order or direct debit.
We will arrange for the transfer of Council Tax and utility accounts to the Tenant. Meter readings will be taken, allowing your closing gas and electricity accounts to be drawn up. All these matters we will handle for you, however British Telecom will require instructions directly from both the Landlord and the Tenant.
When resident in the UK, it is entirely the Landlords responsibility to inform the Revenue & Customs of rental income received, and to pay any tax due. Where the Landlord is resident outside the UK during a tenancy, he/she will require an exemption certificate from the Revenue & Customs before he can receive rental balances without deduction of tax.
It is most important that an inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of a tenancy. Without such safeguards, it will be impossible for the Landlord to prove any loss, damage, or significant deterioration of the property or contents. In order to provide a complete Service, we will if required arrange for a member of staff to prepare an inventory and schedule of condition, at the cost quoted in our Agency Agreement.
What is an AST?
Most tenancies will automatically be Assured Shorthold Tenancies (ASTs), provided the rent is under £25,000 a year and the property is let to private individuals. Tenancies are usually granted for an initial fixed term of either 6 to 12 months.
When the fixed term has expired the landlord is able to regain possession of the property provided he gives two months written notice to the tenant.
In addition, if the tenant owes at least 2 months or 8 weeks rent on the property he can apply through the court to seek a possession order.