Landlord's Information
If you currently own or intend to purchase residential
property for rental in the Greater Glasgow area, you should consider
engaging our property management service. You'll find it both professional
and cost-effective. As we are specialists, we know how to manage
property for optimum performance, whilst ensuring smooth running
tenancies, and compliance with the various landlord/tenant laws.
Maximise the return on your investment - contact
us now. If you own or intend purchasing residential property
for rental in any other area, please go to our UK
Network page.
Our Services include:
- Visiting you at your property, and providing a rental valuation
and any other advice which you may require about letting your
property.
- Advising you on compliance with the various safety regulations.
- Locating suitable tenants. Your property will be advertised
if necessary, however we have excellent contacts with various
company and other establishment personnel departments, and furthermore
usually have tenants waiting.
- Accompanying tenant applicants to view the property.
- Obtaining and evaluating references and credit checks.
- Preparing a suitable tenancy agreement and arranging signature
by the tenant.
- Collecting and holding as stakeholders a deposit (bond) from
the tenant.
- Preparing an inventory and schedule of condition.
- Checking the tenant into the property and agreeing the inventory.
- Supervising the transfer of gas, electricity and council tax
accounts into the tenant's name.
- Receiving rental payments monthly in advance, and paying you
promptly, together with a detailed statement from our computerised
management systems.
- If required paying regular outgoings for you from rental payments.
- Inspecting the property periodically, and reporting any problems
to you.
- Arranging any necessary repairs or maintenance, first liaising
with you in the case of larger works.
- Keeping in touch with the tenant on a routine basis, and arranging
renewals of the agreement as necessary.
- Checking tenants out as required, reletting and continuing
the process with the minimum of vacant periods to ensure that
you receive the optimum return from your property.
We maintain a flexible attitude, and are generally
able to adapt our service to meet our client's individual circumstances
and needs.
Our Fees
Our initial letting and advertising charge is just
£150, and our ongoing management commission is only
10% of monthly rental payments. We make an admin charge of £50
for each renewal of an existing agreement. There is also NO VAT
to pay giving you even greater RETURN ON YOUR INVESTMENT.
There are no other standard fees or charges. No
up front charges - nothing to pay until a tenant moves in and starts
paying rent.
We are particularly committed to investment Landlords and reductions
on the above rates are available on multiple property portfolios.
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Guide for Landlords
Before a property can be let, there are several matters which
the owner will need to deal with to ensure that the tenancy runs
smoothly, and also that he/she complies with the law. We provide
summarised information below. If you require further advice or assistance
with any matter, please do not hesitate to contact us:
Preparing
the Property
We have found that a good relationship with Tenants is the key to
a smooth-running tenancy. As Property Managers this relationship
is our job, but it is important that the Tenants should feel comfortable
in their temporary home, and that they are receiving value for their
money. It follows therefore that a well presented and maintained
property in a good decorative order will go towards this, whilst
also achieving a higher rental figure. Tenants are also more inclined
to treat such a property with greater respect.
General Condition
Electrical, gas plumbing, waste, central heating and hot water systems
must be safe, sound and in good working order. Repairs and maintenance
are at the Landlords expense unless misuse can be established. Interior
decorations should be in good condition and preferably plain, light
and neutral.
Furnishings
Your property can be let fully furnished, part furnished or unfurnished.
Which of these is appropriate will depend on the type of property
and local market conditions. We will be pleased to give you advice
on whether to furnish or not and to what level. As a minimum you
will need to provide decent quality carpets, curtains and light
fittings. Remember that there will be wear and tear on the property
and any items provided.
Personal items, ornaments etc.
Personal possessions, ornaments, pictures, books etc. should be
removed from the premises, especially those of real or sentimental
value. Some items may be boxed, sealed and stored in the loft at
the owner's risk. All cupboards and shelf space should be left clear
for the Tenant's own use.
Gardens
Gardens should be left neat, tidy and rubbish free, with any lawns
cut. Tenants are required to maintain the gardens to a reasonable
standard, provided they are left the necessary tools. However, few
Tenants are experienced gardeners, and if you value your garden,
or if it is particularly large, you may wish us to arrange visits
by our regular gardener.
Cleaning
At the commencement of the tenancy the property must be in a thoroughly
clean condition, and at the end of each tenancy it is the Tenants'
responsibility to leave the property in a similar condition. Where
they fail to do so, cleaning will be arranged at their expense.
Information for the Tenant
It is helpful if you leave information for the Tenant, e.g. on operating
the central heating and hot water system, washing machine and alarm
system, and the day refuse is collected etc.
Keys
You should provide one set of keys for each Tenant. Where we will
be managing we will arrange to have duplicates cut as required.
Other
Considerations
Mortgage
If your property is mortgaged, you should obtain your mortgagee's
written consent to the letting. They may require additional clauses
in the tenancy agreement of which you must inform us.
Leaseholds
If you are a leaseholder, you should check the terms of your lease,
and obtain any necessary written consent before letting.
Insurance
You should ensure that you are suitably covered for letting under
both your buildings and contents insurance. Failure to inform your
insurers may invalidate your policies. We can advise on Landlords
Legal Protection, Rent Guarantee Cover and Landlords Contents and
Buildings Insurance if required.
Bills and regular outgoings
We recommend that you arrange for regular outgoings e.g. service
charges, maintenance contracts etc. to be paid by standing order
or direct debit. However where we are managing the property, by
prior written agreement we may make payment of certain bills on
your behalf, provided such bills are received in your name at our
office, and that sufficient funds are held to your credit.
Council tax and utility accounts
We will arrange for the transfer of Council Tax and utility accounts
to the Tenant. Meter readings will be taken, allowing your closing
gas and electricity accounts to be drawn up. All these matters we
will handle for you, however British Telecom will require instructions
directly from both the Landlord and the Tenant.
Income tax
When resident in the UK, it is entirely the Landlords responsibility
to inform the Revenue & Customs of rental income received, and to
pay any tax due. Where the Landlord is resident outside the UK during
a tenancy, he will require an exemption certificate from the Revenue
& Customs before he can receive rental balances without deduction
of tax. Where we are managing the property we will provide advice
and assistance on applying for such exemption.
The inventory
It is most important that an inventory of contents and schedule
of condition be prepared, in order to avoid misunderstanding or
dispute at the end of a tenancy. Without such safeguards, it will
be impossible for the Landlord to prove any loss, damage, or significant
deterioration of the property or contents. In order to provide a
complete Service, we will if required arrange for a member of staff
to prepare an inventory and schedule of condition, at the cost quoted
in our Agency Agreement.
What is an Assured Shorthold Tenancy?
Most tenancies will automatically be Assured Shorthold Tenancies
(ASTs), provided the rent is under £25,000 a year and the property
is let to private individuals. Tenancies are usually granted for
an initial fixed term of either 6 to 12 months. When the fixed term
has expired the landlord is able to regain possession of the property
provided he gives two months written notice to the tenant. In addition,
if the tenant owes at least 2 months or 8 weeks rent on the property
he can apply through the court to seek a possession order.
Health
and Safety, and other Legal Requirements
The following requirements are the responsibility of the owner (Landlord).
Where we are managing the property they are also our responsibility.
Therefore where we are managing we will ensure compliance, any costs
of which will be the responsibility of the landlord.
Gas
Annual safety check: Under the Gas Safety (Installation and Use)
Regulations 1998 all gas appliances and flues in rented accommodation
must be checked for safety within 12 months of being installed,
and thereafter at least every 12 months by a competent engineer
(e.g. a CORGI registered gas installer).
Maintenance: There is a duty to ensure that all gas appliances,
flues and associated pipework are maintained in a safe condition
at all times.
Records: Full records must be kept for at least 2 years of the inspections
of each appliance and flue, of any defects found and of any remedial
action taken.
Copies to tenants: A copy of the safety certificate issued by the
engineer must be given to each new tenant before their tenancy commences,
or to each existing tenant within 28 days of the check being carried
out.
Electrical
There are several regulations relating to electrical installations,
equipment and appliance safety, and these affect landlords and their
agents in that they are 'supplying in the course of business'. They
include the Electrical Equipment (Safety) Regulations 1994, the
Plugs and Sockets Regulations 1994, the 2005 Building Regulation
- 'Part P, and British Standard BS1363 relating to plugs and sockets.
Although with tenanted property there is currently no legal requirement
for an electrical safety certificate (except in the case of all
HMOs) it is now widely accepted in the letting industry that the
only safe way to ensure safety, and to avoid the risk of being accused
of neglecting your 'duty of care', or even of manslaughter is to
arrange such an inspection and certificate.
Fire
The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (amended
1989 & 1993) provide that specified items supplied in the course
of letting property must meet minimum fire resistance standards.
The regulations apply to all upholstered furniture, beds, headboards
and mattresses, sofa-beds, futons and other convertibles, nursery
furniture, garden furniture suitable for use in a dwelling, scatter
cushions, pillows and non-original covers for furniture. They do
not apply to antique furniture or furniture made before 1950, bedcovers
including duvets, loose covers for mattresses, pillowcases, curtains,
carpets or sleeping bags. Items which comply will have a suitable
permanent label attached. Non-compliant items must be removed before
a tenancy commences.
Smoke Alarms
All properties built since June 1992 must have been fitted with
mains powered smoke detector alarms from new. Although there is
no legislation requiring smoke alarms to be fitted in other ordinary
tenanted properties, it is generally considered that the common
law 'duty of care' means that Landlords and their Agents could be
liable should a fire cause injury or damage in a tenanted property
where smoke alarms are not fitted. We therefore strongly recommend
that the Landlord fit at least one alarm on each floor (in the hall
and landing areas).
Is your property a House in Multiple Occupation (HMO)?
If your property is on 3 or more levels and let to 5 or more tenants
comprising 2 or more households (i.e. not all of the same family)
it will be subject to mandatory licensing by your local authority.
Whether mandatory licensing as above applies or not, if there are
3 or more tenants not all related in any property, it is still likely
to be an HMO, and special Management rules apply.
Learn more here: http://www.communities.gov.uk/publications/housing/licensinghouses
The Housing Health and Safety Rating System (HHSRS)
The HHSRS provides an analysis of how hazardous a property is through
assessment of 29 potential hazards found in housing. Landlords have
to maintain their properties to provide a safe and healthy environment.
The HHSRS is enforced by local authorities.
For further information visit http://www.communities.gov.uk/hhsrs
The Tenancy Deposit Scheme
From 6 April 2007, all deposits taken by landlords and letting agents
under Assured Shorthold Tenancies (ASTs) in England and Wales must
be protected by a tenancy deposit protection scheme. Landlords and
letting agents must not take a deposit unless it is dealt with under
a tenancy deposit scheme. To avoid any disputes going to court,
each scheme will be supported by an alternative dispute resolution
service (ADR). Landlords and letting agents will be able to choose
between two types of scheme; a single custodial scheme and two insurance-based
schemes.
You can learn more on the government website, which
includes an overview of the requirements, and also links to the
sites of the companies running the various schemes: http://www.direct.gov.uk/en/TenancyDeposit/index.htm.
The Disability Discrimination Act 2005
The DDA 2005 addresses the limitations of current legislation by
extending disabled people's rights in respect of premises that are
let or to be let, and commonhold premises. Landlords and managers
of let premises and premises that are to let will be required to
make reasonable adjustments for disabled people. Under the new duties,
provided certain conditions are met (for example, that a request
has been made), landlords and managers of premises which are to
let, or of premises which have already been let, must make reasonable
adjustments, and a failure to do so will be unlawful unless it can
be justified under the Act. Landlords will only have to make reasonable
adjustments. And they will not have to remove or alter physical
features of the premises.
Learn more here: http://www.dwp.gov.uk/aboutus/dda_factsheet4-premises.pdf
Energy Performance Certificates (EPCs)
From October 2008 landlords in England and Wales offering property
for rent will be required by law to provide prospective tenants
with an Energy Performance Certificate for their property. In Scotland
EPCs for rental properties will be required by January 2009. The
certificates must be provided free either when (or before) any written
information about the property is provided to prospective tenants
or a viewing is conducted. A new certificate will not be required
on each let since, in the case of rental property, EPCs will be
valid for 10 years. The requirement is being introduced to comply
with the EU’s Energy Performance of Buildings Directive (EPBD) which
applies to all property, including rented property. This became
law in 2003 and allowed until January 2009 for full implementation
so as to provide time for sufficient numbers of energy assessor
to be trained. The Directive’s requirements were introduced in England
and Wales along with the controversial Home Information Pack regulations
that require sellers to produce packs providing information about
their title, local searched, plus an EPC.
The full requirements are included in the Home
Information Pack (No 2) Regulations 2007 and the Energy
Performance of Buildings (Certificates and Inspections) (England
and Wales) Regulations 2007.
We hope that you will find the above information useful. If there
are any aspects of which you are unsure, please ask us. We look
forward to being of assistance to you in the letting and management
of your property.
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