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Lawton & Dawe Properties is pleased to offer the following landlord guidelines. However, it’s not just advice, though.
Basically, think of it as more of a must-do check list.
And, make sure it’s done.
In brief, renting out your property is a commitment. To remain legally compliant and, of course, a decent landlord, there’s a lot to do. Obviously, we want you to get it right, so feel free to print out this list and tick everything off.
Give us a call on 01273 917 791 to place your property with us.
Absolute Essentials if You Rent Property. You MUST have these by law:
Important Landlord Guidelines
Lawton & Dawe Properties will/can:
Renting out your property is about keeping your tenants safe. Safe as houses, in fact.
Acts of Parliament, such as The Rent Act 1977, The Housing Act 1988 as amended 1996 and The Housing Act 2004 regulate the relationship between Landlords and Tenants. This legislation has been brought in to protect both Landlords and tenants.
Assured Shorthold Tenancy (AST) were brought in with The Housing Act 1988 as amended 1996. These are the most commonly used agreements and allow greater security to both parties. Using an AST agreement gives you the flexibility to create it for any length of time, although a landlord cannot normally recover possession within 6 months from the start unless there has been a serious breach of the agreement. Contrary to popular belief there is no difference as to the security of tenure for the tenant between a furnished house or an unfurnished house.
The Housing Act 2004 saw the introduction of Energy Performance Certificates (EPC) as amended on 6th April 2013, which is now a requirement for a landlord to have for each rental property before it is brought onto the market.
Leasehold Properties
If you are letting a Leasehold property more common if you are letting an apartment then written confirmation must be obtained that letting is permitted. A copy of the Head Lease must be provided to us and we will then attach it to the tenancy agreement.
Mortgages
If you have a mortgage on the property you are looking to let then we require written approval from your lender. This can take some time so we suggest as soon as you know you are going to let this is of high priority.
Tax
The income you receive from letting your property is classified as ‘unearned income’ and is liable for tax. If you remain in Great Britain whilst letting your property then you are responsible for declaring the rental income you receive to the Inland Revenue, but you may claim allowances to offset the tax due. We recommended that you seek advice from an accountant.
Overseas Tax
If you are to be an overseas resident whilst letting your home then basic rate tax had to be deducted by Lawton & Dawe Properties and then paid to the Inland Revenue. If you wish to receive your rent gross of tax you should complete a NRL1 form and return it to FICO. A separate form must be completed by all owners of the property and we can provide these to you.
Legal and Loss of Rent Cover
To provide peace of mind, we would recommend you have legal and loss of rent insurance in place. For further information please contact us.
Services – Tenant find, Managed and Premium Service
Lawton & Dawe Properties offers a unique service which in this strong lettings market means we can ensure excellent returns being paid to landlord on their investments.
Letting your property whether it is your home or an investment is a serious business and if handled by non-professionals could cause you unnecessary hassle and expense.
Lawton and Dawe Properties is here to guide you through every step of letting your property, from the initial marketing to issuing legal notices.
The services we offer are bespoke to your needs but will fall within these three levels;
Tenant Find Only 50% of 1 months rent
Managed Service 12% of monthly rent
All of the above plus…
Premium service 15% of monthly rent
All of the above plus…
Please contact us for further information or clarification. You can download a copy of our landlord fees here.
Are you looking to start or increase your portfolio of rental property? If you are, then this is the page for you. Our landlord guidelines will guide you through the whole process. In brief, there’s a lot to know. But, don’t worry. With our experience and expertise, we can offer objective and professional advice on the type of property and the area in which to invest.
What we can do for you?
Research and find suitable properties for you, taking into consideration your financial requirements.
Advise on market trends
Discuss portfolio strategies
Secure good returns on short and long term investments
Oversee portfolio management
View properties prior to purchase, to advise on rental value and on work needed prior to letting
Recommend reputable financial advisors of which we have solid relationships