Considering renting your property? An experienced member of staff will be delighted to visit your property and provide you with specialist advice on:
The rental value
Anything you could do to improve the property
A suitable marketing strategy
Our referencing service
Fees and charges
Whether you are a first time landlord or you have a large portfolio of properties, we offer a comprehensive, bespoke range of options. There are typically three types of service:
Rental Valuation & Inspection
Advice to landlords on fixtures and fittings, furnishings and any maintenance recommendations.
Advertising & Marketing your property
Accompanied viewings Negotiation of an offer
Extensive credit referencing
Preparation of the tenancy agreement's.
Collection of the first month's rent and deposit.
Set up future rent payments
Rent Collection - In addition to the above you will also benefit from:
Bryan and Keegan to act as point of contact for tenants
Monthly account statements
Registration of the deposit in line with current regulations
Full Management - All the above, plus:A professionally prepared, detailed inventory of contents and condition.
Arranging any maintenance.
Dealing with day to day tenant problems
Transfer of utility accounts
Other things you should consider:
Consent to letIf you have a residential mortgage, you may require your lenders consent before proceeding. Some leasehold properties may also require permission from the freeholder.
Tenants are responsible for all utilities during their tenancy unless otherwise agreed. You will still be responsible for service charge payments (if applicable)
Under the Taxation of income from Land (non residents) Regulations 1995, the rent receiving agent (or where there is no agent, the tenant) will be required to deduct an amount equivalent to Basic Rate Tax from the rent (after taking deductible expenses paid by the agent into account) and pay the balance to the Inland Revenue each quarter.
However, the overseas landlord can apply to the Inland Revenue for exemption from this requirement. Provided the landlords tax history is good and tax affairs are up to date, the overseas landlord will be issued with a certificate that will be sent to his rent receiving agent. This will authorise the agent to pay the rent to you with no tax deducted.
We can provide you with an NRL1 form which you must complete and send to the Inland Revenue. This can only be filled in by you.
Failure to return this form in time may result in the exemption certificate not being issued before the payments become due. We would have no alternative but to make the required tax deduction before paying the rents to you.
For any further clarification we would advise you speak to an accountant.
Tenancy Agreements Most agreements will be classed as Assured Shorthold Tenancies. Under the Housing Act 1998 (as amended 1996) landlords have more rights to possession than with tenancies commencing prior to the Acts. Procedures for possession are now quicker and simpler.
The tenancy agreement can be for any length of time that you and a potential tenant agree on. The majority of assured shorthold tenancies will be for minimum term of six months.
Most of our tenancies will be agreed for a minimum term of twelve months. A break clause can be inserted into the contract should you require greater flexibility. We will be happy to discuss the pros and cons of different time periods during your valuation.
Let only: 9.6% (8% + VAT) of the annual rent
Rent collection: 12% (10% + VAT) of the annual rent
Full management: 2 weeks rent followed by 12% (10% + VAT) Monthly