The Letting Process
Letting your property can be a time consuming stressful process for new Landlords and experienced ones a like, through our experience and knowledge we can take the hassle out of lettings. Our staff will be able to guide you through the process every step of the way.
If you are an existing Landlord or are thinking of letting your property then please contact a member of our staff who will be glad to discuss the services we can provide for you. We have listed a few points that you would need to consider before letting your property:
- Valuation – It is vital that you have an accurate valuation of your property so it is marketed accordingly and will achieve a successful let. One of our managers will be able to offer you a free valuation based on CMA (Competitive Market Analysis)
- Referencing – all prospective tenants will be referenced to ARLA standards; full credit check, employment check, student check, residential history, guarantor’s. All tenants / guarantor will have to pass referencing before moving in.
- Contract – you can use your own contract however we would recommend that you use one of ours which is in line with current legislations and housing acts.
- Gas Certificates – statute law states that all UK properties which are to be rented must have a current gas safety certificate, we can arrange for this test to be carried out.
- EPC – under current legislation all UK properties that are to be rented out must have a current EPC (Energy Performance Certificate) we can arrange for this to be carried out.
- Inventories – With the introduction of the tenancy deposit scheme we recommend that all rented property’s have a check in & check out procedure with a independent inventory in place, thus to avoid an disputes at the end of the tenancy. We can arrange for a reliable independent inventory company to carry this out.
Tenancy Deposit Scheme
As of April 6th 2007 Government passed a new legislation where all AST (Assured Shorthold Tenancies) must register the deposit in a government authorised “Tenancy Deposit Scheme”.
The scheme has been put in place to act on behalf of both tenant and landlord
- It allows the tenant to receive their deposit back minus any agreed deductions.
- Landlord can deduct any costs for damages (as per inventory)
- Encourages tenants to take better care of the property
There are three deposit schemes in place a custodial one which holds the deposit until the end of tenancy and two insurance based ones where the landlord / agent retains the deposit paying a fee to scheme which insures the deposit against failure to repay at the end of the tenancy.
Landlords or their acting agents have fourteen days of receipt of the deposit to register it with a scheme the tenant must then be provided with the following information:
- which scheme is being used & contact details
- procedures for release of the deposit
When the tenancy ends the landlord / acting agent has up to ten working days to return the deposit in part or full (subject to deductions).
If you have any questions regards the lettings process then please contact one of members of staff who will be happy to help.