Do I Need to Get Consent/Permission to Rent?
Depending on whether the property has a loan or mortgage secured on it and whether it is leasehold, will depend on whether you need to gain permission. If the property was purchased with a buy-to-let mortgage then, by its very nature, the lender will be aware of your intentions to rent, however, there are notices and legal grounds that your lender will require to be served. Most leasehold properties require the permission of the leasee or block management company.
What Happens about an Inventory?
An inventory, or schedule of condition, is highly advisable as it will state the condition of the property and any furnishings at the start of the tenancy and will be used to check the tenant out and agree any dilapidation, allowing for fair wear and tear. Tenants have the right to appeal deductions and take them to independent arbitration. Therefore, the evidence as to the in-going condition is of the utmost importance. Should you wish, we can arrange an inventory with photographs of your property.
Who Draws Up the Tenancy Agreement?
Once your tenant has passed referencing and a moving in date is agreed, we will draw up your tenancy agreement together with the necessary legal notices. Tenancies are normally for 6 or 12 months and can be renewed with the agreement of both parties.
When is Rent Paid?
Tenants pay their rent monthly in advance on the anniversary of the move-in date. Monthly statements are sent to landlords either via post or e-mail, whichever way you prefer.
Who Inspects my Property?
If you choose our Full Management or Letting, Rent Collection and Accounting service, we will carry out regular inspections to ensure all is well with your property and your tenants.
What Happens with the Deposit?
At the start of the tenancy your tenant will be asked to pay a deposit to the value of one and a half month's rent. The Housing Act 2004 legislated that this money has to be registered in one of the Government approved tenancy deposit schemes. All deposits are kept in a separate client account. We hold Professional Indemnity Insurance and Clients' Money Protection Insurance in accordance with our Tenant Deposit Scheme.
What Happens if I Want my Property Back?
Once a contract has been entered into, you are unable to take back possession of the property until the end of the contract term. Should you wish the tenant(s) to vacate at the end of the contract, you are required to give them a minimum of two months' notice. Notice can only be served on the rent due date ie, if a contract is due to end on 30th November then notice must be served by 29th September.