Landlords' Frequently Asked Questions
How do you assess Rental Value?
How do you vet Tenants?
How often will you contact me?
When will I receive my rent?
What must I do to comply with Gas and Electrical Regulations?
What else must I do to make my property safe?
Who is responsible for repairs and maintenance?
Who holds deposits and what if there is a dispute about damages?
Is my property a House in Multiple Occupation?
What are the Money Laundering laws about?
How do you assess Rental Value?We give a fair market appraisal taking into account your situation (how soon you need to have a tenant etc), rental demand and current marketing conditions/requirements. We will always support our valuation with information on comparable properties in the area. We confirm all our valuations in writing. ^back to top^
How do you vet Tenants?We use a reputable referencing company to vet all occupants over 18 years of age. This company checks applicants' credit rating, previous renting history and employers' references. Occasionally when they have just moved to the area or are starting a new job a Guarantor may be required. A Guarantor has to undergo the same rigorous referencing as a tenant. ^back to top^
How often will you contact me?We recognise that being kept informed is vitally important to a Landlord. Therefore, we will provide Landlords with feedback after every tenant viewing. Warning: We will tell you the negative comments as well as the positive ones!
Full Management Landlords will receive a statement of rents received, invoices paid etc with every payment we make to you. Where practical we aim to advise you of repairs in progress. If time permits we will you advise you in advance of the cost of repairs but there will be will occasions when this will not be possible. ^back to top^
When will I receive my rent?We will collect the deposit and the first months rent, in cleared funds, from tenants before they move in. For full management Landlords we will chase late rent payment no later than the 7th working day after the due date. We will forward payment to you within seven days of receiving cleared funds from the tenants. It is a condition of our tenancies that rents are paid by standing order. There will however, be occasions when a tenant pays rent by a personal cheque. When this occurs we will not forward payment until the cheque has cleared. For this reason, should a mortgage payment be dependent upon the rent we strongly recommend that you keep at least one month's mortgage payment in the account to avoid unnecessary bank charges etc. We cannot be responsible for any interest or late payment charges incurred by non-payment of rent. ^back to top^
What must I do to comply with Gas and Electrical Regulations?As a Landlord of a residential property you are obliged under the Gas Safety Installation and Use Regulations 1998 to ensure that all gas appliances in a let property are properly maintained and serviced. There is a legal requirement to have a gas safety test carried out on all gas appliances in the property before tenants move in. Also you must obtain a new certificate every year and the certificate must be issued by a Gas Safe registered engineer. There are a number of electrical safety regulations applying to residential property, all appliances supplied in a letting must be tested for safety. The fixed installations in the house must also be safe and periodically tested. The Landlord has a legal duty to ensure all appliances are safe eg: fridges, kettles etc (this is called a portable appliance test). All electrical equipment manufactured after January 1995 should carry the CE symbol.
- From 1st January 2005 you will need Building Regulation permission for any electrical work in your home or garden
- This means that all electrical work must be installed by a competent person or electrician
- Work must have a certificate of compliance as per the Electrical Regulations or Building Regulations (BS7671)
- The aim of this new requirement is to reduce deaths caused by defective electrical installations
- Work connected to a 13A plug
- Certain minor works such as replacement of sockets, switches or roses
- Minor replacement of one cable
- Adding lighting points or sockets to existing circuits providing not in a bathroom,kitchen, sauna, pools, gardens etc ^back to top^
What else must I do to make my property safe?
Fire and FurnishingsThe Furniture and Furnishings (Fire) (Safety) Regulations 1988 as amended, place a legal obligation on residential landlords to ensure that upholstered articles meet fire resistance regulations:
- Regulations apply to beds, mattresses,sofas and other soft furniture
- All affected furniture must carry the fire resistance label.
- Non-compliant furniture must be removed from a property prior to Letting
Smoke AlarmsWe recommend that you install at least one battery operated smoke alarm per floor. These are relatively cheap and will give you and your tenants secure peace of mind.
Carbon Monoxide DetectorsCarbon Monoxide ("CO") is the most toxic substance you'll come into contact with in your daily life; in your home, at work, garage, car, caravan & boat. Fitting a Carbon Monoxide Detector is not yet a legal requirement, but you do have a duty to show "due diligence".
See this site for more information:
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