Landlords
Useful Guide
Administration & Marketing
On our signed confirmation of our terms and conditions of your
instructions to rent your property we will arrange to start
the marketing of your property.
Our branch will then discuss a comprehensive campaign of advertising
to maximise the exposure of your property to achieve the best
rental.
Individual property particulars will be prepared immediately
and subject to your approval circulated to our substantial database
of prospective tenants and relocation agents and uploaded to
our website and leading property search websites.
If you have chosen to have Jackson-Stops & Staff to act
as your Managing Agents, we also require completed and returned
to our offices the following:
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Property Management Questionnaire |
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NRL1 Form(s) - if joint ownership (two completed forms
required) |
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Landlords Authority form signed |
Preparing your Property
First impressions. It is important to ensure that your property
is presented in its best light, before all viewings take place.
Listed below are some factors that encourage prospective tenants
to choose one property over another:
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Room Presentation - Keep the overall effect simple,
uncluttered, clean and neat. Soft lighting, well aired
and free from cooking odours |
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Neutral Decorations - Shades of white/cream provide
a clean fresh impression and are unlikely to clash with
tenants own furnishings |
• |
Quality Curtains & Carpets - Lined curtains and
carpets in neutral colours gives a pleasing appearance,
particularly in unfurnished property |
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Well equipped kitchen - Appliances preferably should
include dishwasher, large fridge/freezer, washing machine,
separate tumble dryer and microwave oven |
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Bathrooms - Tiled walls, quality fittings, purpose fitted
shower and hard flooring coverings |
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Furniture, Fabrics and Upholstery - If provided, must
comply with the current fire regulations. Choose fabrics
and furnishings that can withstand reasonable wear and
tear, plain neutral colours are best |
• |
Furniture Protection - Fitting glass tops to quality
wooden furniture should reduce the possibility of staining |
• |
Safety & Security - Fit BSI approved smoke alarms.
Check that door and window locks comply with insurers
requirements |
• |
Cleaning - A full professional clean will ensure your
property is shown at its best |
Where possible, we will accompany all prospective tenants around
the property and at times that are convenient to you and your
existing tenants.
Jackson-Stops & Staff will be responsible for updating you
on all viewings, feedback and interest expressed from prospective
tenants.
Rental Offer & Tenancy
Once a suitable rental offer, is agreed together with the terms,
we will apply for referencing on your behalf through a credit
agency and commence the preparation of relevant documentation.
On agreement of a tenancy we will ensure that the transition
period runs as smoothly as possible whilst always ensuring your
position as landlord is protected. It is important from the
outset to create a positive relationship between all parties.
JSS will prepare and arrange for the tenancy agreement to be
signed by both parties creating a contract. All tenancies are
subject to referencing and they are not legally binding until
the tenancy agreement has been signed.
Collection of Rent & Deposit
We will arrange to collect the first month’s/quarter’s
rent and a deposit or Letter of Guarantee from the tenant on
your behalf.
JSS will hold the deposit or Letter of Guarantee against the
cost of damages or unpaid rent at the end of the term. Deposits
are usually equivalent to six weeks rent.
On receipt of cleared funds, together with all signed and approved
documentation the tenancy can commence.
On the first day of the tenancy, we will usually arrange for
your tenants to be checked into the property by an independent
inventory clerk, and for the keys to be handed over accordingly.
Renewals & Rental Increases
It is not uncommon for tenants to request that a renewal clause
(for 2nd or subsequent years) be contained within the tenancy
agreement. Such clauses may link any increase in rent to the
Retail Price Index (RPI) and limit it to a minimum and maximum
percentage.
However, it is important to consider the state of the market
when negotiating increases at renewal.
Additional Costs
Gas & Portable Appliance Safety Certificates
Landlords are legally obliged to provide a current Gas Safety
Certificate for the period when the property is tenanted.
Certificates are renewable annually. Gas checks must be carried
out by a CORGI registered engineer.
Jackson-Stops & Staff will discuss in detail the implications
of the regulations and can assist you in arranging for your
gas check combined with the PAT Test - Portable Electrical
Appliance Check, on your behalf.
Professional Clean
Landlords with large family homes will find that professional
cleaning is an expensive requirement. It is however important
to remember that the standard of cleanliness at the outset
of the tenancy will dictate the standard required at the end
of the term.
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Inventory
The cost to prepare an original Inventory & Schedule of
Condition will depend on the size the property. Subject to
the terms of the tenancy agreement, as Landlord, you will
also bear the cost of the check-in at the start of the tenancy.
The Tenant would normally bear the cost of the check-out at
the end of the tenancy.
Mortgage Consent to Let
Written approval to let your property may be required. Most
providers charge an administration fee for issuing consent.
In addition, there may be a variation in the interest rate
level of the mortgage.
A License to Sub Under-let
If your property is leasehold, the head lease will determine
whether or not permission to sub under-let from the freeholder
is required. There is usually a charge levied by the freeholder
or his agent for issuing a letter of consent. In some cases
special clauses may be imposed.
Property Keys
It will be necessary to provide sufficient keys for the size
of property and number of occupants – and in the case
JSS are instructed to act as your Managing Agents a complete
set held in our offices. (Security cards/keys & remote
control devices should be included).
Tax Retention (Non-residents)
If you are non-resident then, like a UK resident, the excess
of income over allowable expenses is subject to UK income
tax.
The following general points are to be noted:
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The agent who collects rent for the non-resident landlord
must deduct tax at source from his income and pay the
tax deducted to the Inland Revenue unless specifically
exempt by written authority from the Inland Revenue not
to do so. |
| • |
It is possible to apply to the Inland Revenue for the
agent to be exempt from withholding income tax at source.
(We will provide you with a NRL1 Form). This exemption
is however granted at the Inland Revenue’s discretion. |
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At the end of each year, your tax position must be resolved
with the Inland Revenue. As with resident landlords, this
usually involves submission of a UK tax return showing
details of letting income and expenses. If you have approval
to receive rents gross and do not submit annual tax returns
to the Inland Revenue you may be infringing tax regulations
and furthermore any exemption that may have been granted
may be withdrawn. |
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Take steps to mitigate your tax liabilities by seeking
professional advice from a reputable firm of accountants
who will advise you on Income and Tax issues. |
On-going and other costs
Insurance - As the owner you will be responsible for
both building insurance and for insuring the contents you leave
in the property.
Service Charge - This will remain your responsibility
whether or not the property is let. Service charges usually
include building insurance.
Garden Maintenance - Some Landlords will choose to provide
a year round garden maintenance service, whilst others may budget
for two or three seasonal pruning and tidying visits plus regular
maintenance during vacant periods.
Annual Service Charges - These include central heating
boilers, gas fires, water heaters, intruder alarm, AGA, gutter
cleaning.
Accountant/Tax Service - An accountant can ensure that
you do not pay more tax than is necessary.
Solicitor/Legal Fees - In the event that problems arise
during the tenancy with the tenant being in breach of the lease
you should bear in mind that there are likely to be costs involved
should you need to instruct legal proceedings.
CHECK LIST
Property Folder - A folder should be prepared containing
instruction manuals for the operation of central heating, appliances,
alarm, AGA, pumps and any other specific installations at the
property. This should include copies of guarantees and current
service contracts.
Cable/Satellite - Dis-instruct your provider and remove
cards and suchlike from the property.
Telephone - Ask BT to stop the telephone line(s) in your
name and arrange to settle your final bill account.
Intruder Alarm - JSS should be provided with full instructions.
In the event your installation is monitored and your tenant
chooses to continue with the service the costs are usually split;
Landlord pays cost of annual maintenance; Tenant pays costs
of monitoring service.
Chimneys - Working chimneys should be swept prior to
the tenancy commencing, this should then be carried out on an
annual basis.
Swimming Pools - Your tenant & JSS (if Managing Agents)
will require details of your pool maintenance contract. As regards
ongoing costs, it is often agreed that the Landlord pays for
the opening and closing of the pool & maintenance and the
tenant pays for cost of routine water treatments during the
season.
Oil Tanks - Ensure that the oil tank is full at the outset
of the tenancy and that the fuel level indicator is clearly
visible. Details of your local supplier should be forwarded
to the tenant and/or JSS and left in the Property Folder.
REMEMBER to cancel services or write to advise the following
of your new correspondence address:
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Bank (including cancelling all utility STO/Direct Debits
orders) |
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Mortgage Provider |
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Credit/Debit/Store cards |
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Telephone/Satellite company |
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TV License authority |
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DLVC |
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Doctor/Dentist |
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Redirection of mail at your local Post Office |
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