The first step towards letting your property is to meet with us for a Lettings Appraisal. We provide this service free of charge and with no obligation. Every property is different so, when assessing rental value, we take account of accommodation, condition, location and current demand. In addition, we have extensive knowledge of other properties currently on the market and historic information on rents achieved. During the appraisal we will advise you about any action you could take to help maximise the rental income and the property’s desirability to potential tenants.
Furnished or unfurnished
Demand for unfurnished accommodation is far higher than the demand for furnished.
Unfurnished – carpets, curtains/blinds or at least curtain tracks or poles, light fittings and appliances are preferable not essential. Tenants do however expect a cooker or oven and hob.
Furnished or Part Furnished– Most tenants seeking a furnished property have at least a few possessions so it is important be flexible.
Presentation – First impressions count!
If your property is present well, it may not only achieve a higher rent but tenants are more likely to respect it.
Decoration – When redecorating choose a neutral colour and use emulsion rather than wall paper.
Gardens – Routine garden maintenance is normally made the tenant’s responsibility. However, if your property has a large garden, we recommend that you employ a gardener to look after it during the tenancy.
At Symonds & Sampson we fully understand that excellent presentation and maximum exposure of our clients’ properties play key roles in securing suitable tenants. We will discuss your particular requirements in detail and will find the most suitable tenant for you.
Effective Marketing – Our team will commence the process of finding a suitable tenant. Your property will be featured on Rightmove, Zoopla amongst others and we are active on social media which has become an essential tool in marketing rental properties. Over 70% of people moving home use the internet to search for a property.
Capturing the company movers – Statistics show that a significant number of house-moves in the UK are a result of job relocation.
References and Financial checks – When a tenant has been found we carry out strict referencing procedures using a specialist independent referencing company in most cases. This essential and detailed process gives us an understanding or tenant’s personal and financial circumstances in addition to previous agent/ landlord/ accountant references. In the event of an adverse report, we will discuss options such as a guarantor and/or rent paid in advance with you.
It is essential to have a comprehensive tenancy agreement and detailed inventory/schedule of condition prior to each tenancy.
Tenancy Agreement – We use a TA which has been carefully designed to protect your rights to possession, to help control the tenant’s activities, to ensure that you have redress if you property is not looked after carefully and to comply with standard mortgage lender requirements. Most tenancies are governed by the housing act 1988 (as amended)
Inventory/Schedule of condition– It is highly recommended to have an independent inventory carried out prior to the commencement of the tenancy to protect landlords’ and tenants’ interest.
Protection of Deposits – As part of the Housing Act 2004 the Government introduced tenancy deposit protection of all Assured Shorthold Tenancies. All deposits paid since 6th April 2007 how have to be registered with a Government approved scheme within 30 days of receipt. The level varies but it is usually the equivalent of 5 weeks rent. We use The Tenancy Deposit Scheme (TDS). More details can be found on www.tenancydepositscheme.com or tel: 0300 037 1000.
Rental Payment – When the tenant signs the TA, we collect the 1st month’s rent in cleared funds prior to the tenancy commencing. At the same time we require a standing order for future payments.
Council Tax and utility bills – In addition to the rent, tenants pay for water charges, council tax, gas, electricity, telephone bills, oil, LPG and drainage unless otherwise negotiated.
Buildings and Contents Insurance – Landlords should ensure that they have adequate household insurance cover in place. Tenants are responsible for insuring their own contents and personal belongings.
Leasehold properties – If your property is leasehold, your lease will specify whether or not to obtain permission to sub-let from the freehold company or managing agent. It is essential to clarify the situation before marketing your property as some leases place restrictions on the type of sub-letting that will be approved.
Taxation – Overseas landlords are responsible for obtaining their own exemption certificate and the appropriate forms should be submitted as early as possible as they may take several weeks to process.
UK Resident Landlords – If you are a landlord resident in the UK, your net income from your investment property is subject to income tax, the level of tax depending on your total income.
Non UK Resident Landlords – The Non-Resident scheme is for taxing the UK rental income of persons whose “usual place of abode” is outside the UK for six months or more. If you are treated as a non-resident landlord you still have to pay UK income tax on rental income from your UK property.
|Tenant Find 80% of one months rent + VAT (96 % including VAT)||Rent Collection 9% of rents collected (as collected) + VAT (10.8% inc VAT)||Full Management 12.5 % of rents collected (as collected) + VAT (15% inc. VAT)||Premier Management 17% of rents collected (as collected) + VAT (20.4 % inc VAT)|
|Lettings Market Appraisal|
|Provide guidance on compliance with statutory provisions and letting consents|
|Advise on refurbishment requirements (non structural)|
|Comprehensive marketing and advertising including erecting a To Let board (where possible)|
|Carry out viewings with applicants|
|Advise on non-resident tax status and HMRC (if relevant)|
|Negotiating terms of the tenancy between Landlord and Tenant|
|Collect first months rent|
|Register and pay the deposit to Government approved deposit scheme|
|Key handover with the tenant|
|Inform utility suppliers|
|Demand, collect and remit the monthly rent|
|Pursue non payment of rent and provide advice on rent arrears actions|
|Arrange required Safety Checks|
|Undertake at least two routine visits per annum and notify the outcome to the Landlord|
|Instruct regular maintenance and repairs as and when needed and paying invoices from rents|
|Security deposit dilapidations and negotiations|
Premier Management also includes:
*This is for the supply of certification only and does not included any works required to obtain the level of safety needed for the certificates to be granted. Certificates will only be supplied by contractors approved by Symonds & Sampson.