Here's some help navigating through the process of letting out your property. This process can, at times, be tricky so we hope you find these tips helpful!
Yes. Your mortgage lender needs to give you permission before you can let your property, and they may impose special conditions. If you are buying a property with the intention of letting it out, you can obtain a buy to let mortgage.
This really depends on how much support you need. At Allsopp & Allsopp we offer three main service levels: Blue, Silver and Black. Each involves a different degree of service from Allsopp & Allsopp and the fees we charge reflect this. Be sure you understand an agent’s fees and exactly what you receive for your money when you ask them to conduct a lettings valuation.
Choosing a fully managed service allows you to completely relax. You never have to worry about the let. It creates a professional distance between you and the tenancy and means you can avoid having to deal with all the bad bits like rent arrears and deposit disputes.
It’s not essential to redecorate your property before placing it on the market, however, if an area is in need of a lick of paint this will appeal to potential tenants. A good and clean property will always attract the good tenants!
An inventory is a detailed list of the contents and condition of your property taken before the tenant moves in. It is important that if there is a dispute over damage at the end of the tenancy, you have proof of the original condition of the property and its contents.
A Gas Safety Record (GSR) is in place to ensure that all gas appliances, pipes and flues are in safe working order. It must be carried out by a qualified Gas Safe Register engineer. This needs to be checked every 12 months.
Whilst Allsopp & Allsopp vets all tenants prior to arranging viewings, in some circumstances, a tenant may not be approved immediately via referencing. Obvious examples are students without a regular income, or someone leaving their family home for the first time with no renting history. There are still options for tenants in this position, they could pay the rent for the full term up front, or seek out a guarantor, with the landlord's consent.
The tenant is responsible for the council tax (unless you decide to include this in the rent) but this needs to be clearly stated in the tenancy agreement. If the property is standing empty, it is the landlord’s responsibility to pay.
The Association of Residential Lettings Agents (ARLA) is the leading professional and regulatory body for letting agents in the UK. ARLA is dedicated to protecting consumers by improving standards and professionalism within the lettings industry. Allsopp & Allsopp choose to be members of a regulatory body.
Furthermore ARLA members have to adhere to the Client Money Protection Scheme and Professional Indemnity Insurance, therefore clients money will always be protected.
If you instruct Allsopp & Allsopp to manage your property and tenants, regularly scheduled visits will take place at the property, and condition reports emailed to the landlord. This ensures that the property is being looked after and maintained in a good condition, and highlights any maintenance issues.
Either the tenant pays to fix the damage, or the cost for fixing the damage is proposed to be removed from the tenant’s security deposit at the end of the tenancy. However, fair wear and tear should be allowed for.