The information contained here is only a summary and care should be taken when considering letting your property. In order to avoid future problems tenancy agreements must be drawn up and issued subject to the relevant laws. Harris Bell Associates are very pleased to offer an all encompassing property lettings and management service. We will be very pleased to speak with any Landlords in order to understand your requirements.
In the first instance please telephone 01262 40 10 11 or e-mail rentals@harrisbell.com
Ist Steps
Letting a residential property can provide an excellent return, whether this be your own home which has become vacant, or properties which you have purchased specifically to rent out. If the property is subject to a residential mortgage you must first contact your lender and obtain their permission to rent the property. Please see our mortgage section elsewhere in this website for advice about buy-to-let mortgages or mortgages in general.
Tenancy Agreements
Several recent acts of Parliament with subsequent amendments, have resulted in two types of tenancy agreement. Assured and Assured Short Hold tenancies are now widely available.
In fact the majority of residential properties are let using Assured Short Hold tenancies, which give two distinct advantages to the landlord.
Firstly, the landlord has a right to seek possession of the property once the appropriate notices have been correctly served on the tenant and the original fixed term of the tenancy has expired. Secondly, the amount of rent is agreed between the landlord and tenant at the outset of the tenancy agreement.
We are able to prepare an Assured Shorthold Tenancy with a term of six months.
Selecting Appropriate Tenants
It is vital to select tenants that will pay the agreed rent on time consistently. Harris Bell Associates are keen to help landlords minimise risks associated with lettings. We offer the following as part of our standard service.
- Full use of the facilities of our dedicated Lettings Office.
- Advertising of your property to attract appropriate tenants.
- Conduct viewings where appropriate.
- All prospective tenants are referenced via a professional reference agency and credit checks undertaken.
- Employment and previous landlord references requested.
- Preparation of appropriate up-to-date tenancy agreements as recommended and supplied (Under Licence) by The Letting Centre.
- Taking of periodic rents from tenants and making payment to you.
- Initial and ongoing inventories conducted.
- Initial and Periodic property inspections.
- Liaison (on your behalf) with local tradesman for cost effective property repairs and improvements.
- Annual gas checks, Electrical safety checks and Fire Alarm checks conducted (at additional cost). This is a legal requirement.
- Assistance and advice with evictions and property repossessions.
- Advice and recommendation for appropriate landlord and tenant insurances to protect your property.
Fees and Taxation
Our fees are arranged on a lettings only basis and are by individual agreement. If you are a UK resident you will be liable to income tax (at your highest rate) on the net income received. If you are an overseas landlord different rules may apply. Our in-house Financial Adviser is available to offer advice in this area.