Landlord Guide

We outline on this page a basic, quick guide and overview for Landlords, to explain what is typically involved with letting property. If you need any further information or advice, please don’t hesitate to contact us.

  1. Request a free valuation
  2. Letting Only Service
  3. Rent Collection Service
  4. Full Management
  5. Inventories
  6. Consent to Let
  7. Utilities
  8. Tax
  9. Tenancy Agreement
  10. Legal Matters

Request a free valuation

If you'd like one our specialist managers to conduct a valuation or review of your property, please click here to request a free valuation.

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Letting Only Service - 3 weeks rent + VAT -  includes

  • The Square Room will provide a free no obligation valuation. 
  • Advice to landlords on furnishings, health and safety issues and any maintenance recommendations.
  • Advertising your property on our website, Rightmove, Zoopla, Prime Location, excellent quality photographs, emailing and sms message details to all potential applicants. 
  • Erect a 'To Let' board at your property. 
  • We accompany all viewings
  • Extensive referencing of tenants who wish to rent your property.
  • Preparation of the tenancy agreement.
  • Protection the deposit and serve the prescribed template to tenants. 
  • A professionally prepared detailed written inventory and date stamped photographic inventory of contents and condition.
  • Carry out immigration checks. 
  • Notify utility providers and the local authority of the change in tenancy
  • Collection of initial rent and deposit.

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Full Management - £199 + VAT tenant find fee and 8% + VAT monthly management fee

The complete service includes (all the above) plus:

  • Arranging maintenance quotations.
  • Conduct quarterly property inspections and provide the landlord with a written report. 
  • Dealing with day to day tenant problems that may arise.
  • Provide monthly and annual rent statements with copies of all maintenance receipts from contractors. 
  • Transfer of utility accounts, electric, gas, council tax and water.
  • Arrange for your annual gas safety check to be carried out
  • Service of notices: Serve Sections 13, 8 or 21 Notices
  • Closing inspection and check out at end of tenancy.
  • Negotiate the return of the deposit in line with the terms of the tenancy agreement and The DPS guidelines
  • Look to find suitable new tenants prior to expiry of the existing tenancy.

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INVENTORIES

We conduct a full written and date stamped photographic inventory of a property before the tenancy commences. 

Under the terms of the tenancy agreement, the tenant is required to return the property and contents at the end of the tenancy in the same condition as they were at the commencement, fair wear and tear accepted. It is almost impossible to ascertain whether damage was caused during a tenancy without a proper inventory signed by all relevant parties.

 

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CONSENT TO LET

If the landlord has a mortgage, it is normal for mortgagees to require notification of any proposed lettings and the landlord should seek their initial consent. In the case of leasehold premises the consent of the Head Lessee of Freeholder will be required. The landlord should also advise his insurance company of the proposal to let the property as this could either invalidate the insurance altogether or increase the premiums. 

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UTILITIES

The tenant will be responsible for the payment of gas, electricity, water, telephone, council tax and television licence. (Unless otherwise agreed and stated)
As the landlord you are still responsible for the payment of service charges and ground rent in leasehold properties and buildings insurance on Freehold properties.

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TAX

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. Neither your rent receiving agent nor your tax advisor can file this application for you - it must be done 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.
Our company are not tax advisers so if you are unsure as to how the above will affect you, you would be advised to speak to an accountant or professional tax advisor.

Any Non resident Landlord Tax payments deducted by us, in the first quarter can be refunded, if the exemption certificate is in our possession before the first quarter has ended. Any deductions after the first quarter can only be reclaimed after the first year has ended. Any refunds due after the first quarter are made by the Inland Revenue.

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TENANCY AGREEMENTS

Most tenancies are 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 and procedures for possession are now quicker and simpler (provided the process is carried out correctly).

There is no minimum period for an Assured Shorthold tenancy; however we recommend that the tenancy is for not less than six months.

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LEGAL MATTERS

Our staff have been trained and receive ongoing training on the various legal aspects of letting including safety regulations, tenancy agreements and clauses, possession and have vast practical experience. They will be happy to discuss any questions you may have regarding more detailed legal matters.

The relationship between Landlord and Tenant can sometimes have its “ups” and “downs” and the need for a professional agent is paramount in closing any divide to allow for a smooth and enjoyable property experience for all parties concerned, whether you are a Landlord or Tenant you are best advised to conclude your property transaction via a reputable agent.

Tenancy law is now far better regulated than ever before with balanced rights for all parties, tenants holding deposit held in Approved Scheme and are returned at the end of the tenancy subject to the property being returned in the manner it was taken and subject to there being no outstanding bills relating to utilities etc. The lettings market has grown immensely due to the increasing Buy to let market and with an increase to new build added to the marketplace the level of quality has improved greatly.

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