Landlord information, renting property
IMPORTANT INFORMATION REGARDING THE REQUIREMENT FOR ENERGY PERFORMANCE CERTIFICATES IN THE RENTAL SECTOR
From the 1st October 2008 it will be a legal requirement for a Landlord to provide an Energy Performance Certificate (EPC) when renting out a property. An EPC is not required for a licenced HMO where the facilities are shared. If a property is marketed before 1st October 2008 an EPC is only required if the property continues to be offered For Let on or after the 1st October 2008. The Landlord remains the responsible person even if an Agent is used. An EPC gives information on the building's energy efficiency.
QUESTION: What does this mean in practice?
An EPC will be required whenever a home in the private rented sector is let to a new tenant. The EPC must be made available free of charge to prospective tenants at the earliest opportunity. This should be when they are first given written information about the property or are arranging to view it and before any rental contract is entered into. You must give a copy of the EPC to the person who takes up the Tenancy. EPC's are valid for 10 years and can be re-used as many times as required within that period. It is not necessary to commission a new EPC each time there is a change of tenant. The EPC provides prospective tenants with information about how energy effecient the property is that they are considering renting.
QUESTION: What do they mean and how do I get an Energy Performance Certificate?
EPC's must be produced by an accredited Domestic Energy Assessor or Home Inspector. The EPC shows two things. The energy effeciency rating and the environmental impact rating relating to the carbon dioxide emissions rating of the property. The rating is based on factors such as age, property layout, construction, heating, lighting and insulation. The average rating for a home is D to E.
Venture Properties can provide Energy Performance Certificates for Landlords at a cost of £74.99 plus vat
QUESTION: What does an Energy Inspection involve?
During the assessment the Energy Assessor will need to inspect your property and collect information. To complete the assessment the Assessor will need to access all the rooms, the boiler and the loft. The Assessor may need to take photographs of items such as heaters and meters.
For further information relating to EPC's please contact any member of our staff.
QUESTION: Is it possible to advertise a property before the EPC has been produced.
This should not be the norm. It should have been commissioned and remember it has to be available at the time of viewing and before the tenant has signed an Agreement which would in any manner commit them to a property.
QUESTION: If an EPC is produced when the property is empty what effect will furnishing it or occupying it make.
These would make no difference to the results as it is based on standardised occupancy data.
Why choose Venture Properties?
Venture Properties are based in Darlington and have a detailed knowledge of the rental market in the town and the surrounding areas. We offer a variety of management packages to suit individual landlords requirements from simply finding the right tenant to full property management. We will only ask for payment on results.
Venture Properties will market your property in a professional manner with a full description of its features and numerous internal photographs. This is an area too often neglected. We do this because we listen to feedback from our tenants and they appreciate details of properties not being presented in the usual 'bullet point' fashion with one photograph of the outside of the property.
We are affiliated to the best web portals in the business. Our own website generates many leads and Rightmove alone generates over 7 million hits per month with Estate Angels and Email4Property running them a close second. All enquiries for property rental made on these sites are re directed to us.
All of the work we undertake from engaging with tenants to doing viewings and managing your accounts is done in one place. We do not have different offices for managing your accounts, and we are local, based in Darlington. This means that if you ever have a query or question we can deal with it immediately in house.
What we can offer you as a landlord :
We advertise in the right places and know what works for lettings and we always have an up to date tenant database which we can draw upon and we will advertise your property through our Website and local property publications. We have a contract with Rightmove which means our properties will be advertised on their website which generates 7 million hits per month. We also have links to other national property websites such as email4property.co.uk and estate angels.
We offer tailor made management packages to suit individual needs, from full management to tenant find. Our rates are the most competitive in the area (for further information please click on the 'Management Packages & Fees' tab)
We can offer advice on any aspect of tenancy and housing law and offer many free additional services that a landlord may require during the term of a tenancy, such as service of a section 21 notice. In most cases landlords would have to pay an additional fee for these types of service. We don't charge a premium management fee for tenants claiming Housing benefit.
Our fees are the most competitive around and we pride ourselves on the friendly and professional relationship we have have with landlords. We do not undervalue the rental rate of properties to secure a let and we always make sure that the landlord is happy with everything we do, before we do it.
We can also provide landlords with rental guarantee and legal expense insurance during any tenancies (please refer to Management Packages and Fees)
We also now offer extremely competitive rates on Landlords Buildings & Contents insurance, something that you will need if you are renting a property.
We are proactive. We match tenants requirements to our properties, we don't wait for the phone to ring.
MANAGEMENT PACKAGES AND FEES
The four main management packages are listed below although we do maintain a flexible attitude and are able to adapt our service to meet our clients individual circumstances for example by providing a part only service or by taking on additional tasks and duties.
We only evercharge our commission when the rent is paid and not when the rent is charged.This means that it is in our interests that tenants pay rent promptly. We do not charge a premium for Housing Benefit tenants, the commission remains the same for all.
Whichever service you require we will provide you with a distinctive 'To Let' board, will advertise in the local press, on our website and on other recognised property websites such as www.rightmove.co.uk which attracts 10 million hits per month.
PREMIER FULL MANAGEMENT SERVICE
Set up fee £299 (or half a months rent whichever is the greater) plus vat
thereafter 15% of rent per calendar month
Rent and legal protection
Free To Let board - the most distinctive and stylish around!
Advertise in the local press, on our website an other property websites
Accompanied viewings
Take up references and credit checks of tenant(s) and guarantor where necessary
Draw up Tenancy Agreement
Arrrange utilities change over
Supply a comprehensive inventory of contents and condition with photographs (at an additional cost)
Arrange all gas safety inspections annually and electrical safety checks where required
Regular property inspections
Update local Council with change of occupant
Check in/check out of tenants
Collection of rents on a monthly basis
Supply monthly statements to landlords to assist in the preparation of their accounts
Deal with day to day problems
Sort out any maintenance issues
Free advice with any legal Tenancy issues
Free service of Section 21 notices
Free registration of Tenancy Deposits or bonds with accredited Scheme
FULL MANAGEMENT SERVICE Our most popular service
Set up fee £225 therfeafter 12% of rent per calendar month plus vat
Free To Let board - the most distinctive and stylish around!
Advertise in the local press, on our website an other property websites
Accompanied viewings
Take up references and credit checks of tenant(s) and guarantor where necessary
Draw up Tenancy Agreement
Arrrange utilities change over
Supply a comprehensive inventory of contents and condition with photographs (at an additional cost)
Arrange all gas safety inspections annually and electrical safety checks where required
Regular property inspections
Update local Council with change of occupant
Check in/check out of tenants
Collection of rents on a monthly basis
Supply monthly statements to landlords to assist in the preparation of their accounts
Deal with day to day problems
Sort out any maintenance issues
Free advice with any legal Tenancy issues
Free service of Section 21 notices
Free registration of Tenancy Deposits or bonds with accredited Scheme
TENANT FINDER AND RENT COLLECTION SERVICE
Set up £225 or half a months rent (whichever is the greater)
thereafter 8% of the rent per calendar month plus vat
Free To Let board - the most distinctive and stylish around!
Advertise in the local press, on our website an other property websites
Accompanied viewings
Take up references and credit checks of tenant(s) and guarantor where necessary
Draw up Tenancy Agreement
Supply a comprehensive inventory of contents and condition with photographs (at an additional cost)
Arrange gas safety inspections if required (there will be an additional charge for the safety check)
Check in of tenants
Collect the rent and pay to the landlord
Supply monthly statements to landlords to assist in the preparation of their accounts
Free advice with any legal Tenancy issues
Free registration of Tenancy Deposits or bonds with accredited Scheme
TENANT FINDER SERVICE
One off fee £299 or half a calendar months rent (whichever is the greater) plus vat
Rent and legal protection
Free To Let board - the most distinctive and stylish around!
Advertise in the local press, on our website an other property websites
Accompanied viewings
Take up references and credit checks of tenant(s) and guarantor where necessary
Draw up Tenancy Agreement
Arrrange utilities change over
Supply a comprehensive inventory of contents and condition with photographs (at an additional cost)
Arrange all gas safety inspections annually and electrical safety checks where required
Check in of tenants
Collection of first months rent and deposit which is then forwarded to the landlord
Please note we are not responsible for the property during any void periods.
How much money can we save you? :
Low fees and professional Service
We take our job seriously and offer you the best service and advice available. We are convinced of this fact (please see our Testimonials page) Our fees are certainly the most competitve around (please see 'Management Packages & Fees') We are in constant contact with landlord organisations such as the National Landlords Association and the Residential Landlords Association and are therefore always ahead of the game when it comes to legislation and new laws implemented by the Housing Act 2004.
No Tenancy Renewal Fee
Wherever it suits a landlord or tenant there is no requirement to renew our Tenancy Agreements. After the initial six month period they roll on and are then Periodic Tenancies which are brought to end in the same way, by one party giving the other notice.
This means landlords and tenants do not have to pay a renewal fee which can be as much as £150 plus vat and is charged by a considerable number of other agents.
Tenancy Deposit Scheme
As from the 6th April 2007 the government will implement the Tenancy Deposit Scheme, part of the new legislation governing residential lettings from the Housing Act 2004.
The idea is that a deposit or bond for a property will be paid to a third party who will resolve any disputes if there are any regarding the return of this money at the end of the tenancy.
This is seen as a fair way of ensuring that a tenant or whoever pays a deposit is entitled to get all or part of it back at the end of the tenancy.
Where tenancies are created on or after the 6th April 2007 there will be a legal obligation on the landlord or agent to pay the deposit or 'bond' obtained for the property to a Government accredited Scheme Administrator who will hold it securely throughout the duration of the tenancy.
There are a select few Companies and Organisations appointed and accredited by Government to run this Scheme, some are insurance backed (please click on this linkfor more info about insurance backed schemes: http://www.mydeposits.co.uk
and others are custodial schemes where the landlord pays the deposit to a third party who holds it throughout the tenancy (for more info on this scheme please click the following link:
http://www.depositprotection.com/Public/FAQs.aspx
We will register tenancies with the custodial scheme above and pay the deposit on behalf of the landlord free of charge on properties that are under the Premier, full management and Rent collection services.
Guide for Landlords
Before a property can be let there are several matters which the owner/landlord will need to attend to. If you require further advice or assistance with any matter, please do not hesitate to contact us:
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 and we need to be informed of this.
Leaseholds
If you are a leaseholder, you should check the terms of your lease, and obtain the necessary written consent before letting.
Sub-letting
If you are a tenant yourself, you will require your landlord's consent.
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 Landlord's Legal Protection, and Landlord's Contents insurance if required.
Council tax
Council tax is the responsibility of the occupier. You should inform your local collection office that you are leaving the property. During vacant periods the charge reverts to the owner. When unoccupied but furnished, the charge is 50% of the normal rate. When unoccupied and 'substantially' unfurnished, there is no charge for the first six months, and thereafter a charge of 50% of the normal rate. As part of our full management service we will liase with the Council on your behalf
The inventory
For unfurnished or for fully furnished properties, it is important that an inventory of contents and schedule of condition be prepared 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. To allow us to provide a complete service to the landlord, we will if requested arrange for a member of staff to prepare an inventory and schedule of condition at a cost to be agreed.
Income tax
When a landlord is resident in the UK it is entirely his responsibility to inform the Inland Revenue of rental income received and to pay any tax due. However, where the landlord is resident outside the UK during a tenancy, under new rules effective from 6 April 1996, unless an exemption certificate is held, we as landlord's agents are obliged to retain and forward to the Inland Revenue on a quarterly basis, an amount equal to the basic rate of income tax from rental received, less certain expenses. An application form for exemption from such deductions is available from this Agency, and further information may be obtained from the Inland Revenue.
Important safety regulations
The following safety requirements are the responsibility of the owner (the landlord) and, where we are to manage the property, they are also ours, as agents. To protect all interests we ensure full compliance with the appropriate regulations, at the owner's expense:
Gas Appliances & Equipment
Under the Gas Safety (Installation and Use) Regulations 1998 all gas appliances in tenanted premises must be checked for safety at intervals of not more than 12 months, by a CORGI registered gas engineer, and a safety certificate issued (a CP12), a copy of which must be handed to each tenant. Records must be kept of the dates of inspections, of defects identified, and of any remedial action taken. This will be done by us on your behalf.
Electrical Appliances & Equipment
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 specific legal requirement for a qualified electrician to carry out an inspection and issue a safety certificate (as exists in the case of gas appliances), it is recommended that the only way to ensure safety, and to avoid the risk of being accused of neglecting your 'duty of care', is to arrange such an inspection and certificate.
Furniture & Furnishings
The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (amended 1989, 1993 & 1996) provide that specified items supplied in the course of letting property must meet minimum fire resistant 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, bed clothes including duvets, loose covers for mattresses, pillowcases, curtains, carpets or sleeping bags. Therefore, all the relevant items above must be checked for compliance, and non-compliant items removed from the premises. In practice, most (but not all) items which comply must have a suitable permanent label attached. Items purchased since 1.3.90 from a reputable supplier are also likely to comply.
General Product Safety
The General Product Safety Regulations 1994 specify that any product supplied in the course of a commercial activity must be safe. In the case of letting this would include both the structure of the building and its contents. Recommended action is to check for obvious danger signs - leaning walls, broken glass, sharp edges etc., and also to leave operating manuals or other written instructions about high risk items, such as hot surfaces, electric lawnmowers, etc. for the tenant.
Preparing the property for letting
We have found from experience that a good relationship with tenants is the key to a smooth-running tenancy. As Property Managers the relationship part is our job. Our policy of offering a service of quality and care therefore extends to our tenant applicants too, and we are pleased to recommend properties to rent which conform to certain minimum standards. Quality properties attract quality tenants.
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 landlord's expense unless misuse can be established.
Appliances
Similarly, if the property contains appliances such as a washing machine, fridge freezer, cooker, dishwasher etc. these should be in working condition. Repairs and maintenance are at the landlord's expense unless misuse can be established.
Decorations
Interior decorations should be in good condition, and preferably plain, light and neutral. It is worth considering cleaning or replacing carpets if necessary.
Furnishings
It is recommended that you leave only minimum furnishings, and these should be of reasonable quality, if you leave anything at all. It is preferable that items to be left are in the property during viewings. If you are letting unfurnished, we recommend that the property contains carpets and curtains. It is worth remembering most tenants have their own personal possessions. If you are unsure whether to furnish your property please feel free to seek our advice.
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 maintenance visits by our regular gardener.
Cleaning
At the commencement of a tenancy the property must be in a thoroughly clean condition. If you prefer, we can arrange for the property to be cleaned on your behalf. At the end of each tenancy it is the tenant's responsibility to leave the property in similar condition. Where they fail to do so, cleaning should be arranged at their expense.
Mail forwarding
We recommend that you make use of the Post Office redirection service. Application forms are available at their counters, and the cost is minimal. It is not the tenant's responsibility to forward mail.
Information for the tenant
It is helpful if you leave information for the tenant 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 are Managing we will arrange to have duplicates cut as required.
Golden rule
The golden rule is that good quality accomodation will always attract good quality tenants.
Please get in touch with us if you require any further information or advice, there is absoloutely no obligation.
Thinking of buying an investment property?
If you, like many other people, are considering purchasing a property to rent as an investment, perhaps due to an under achieving pension, we offer a specialist property finder service. Simply supply us with your requirements such as the type of property you would be interested in, along with any preferred locations and we will source a property that suits you at a price below the market value, which means you are instantly buying into equity.
We do not simply offer you properties that are being sold by estate agents and we will advise you of the best areas to buy in and can show you how to purchase a property with very little or no capital up front.
You will not have to negotiate or speak with developers or attend meetings. We do it all for you. We can supply you with everything you need, from the solicitor to the funding of the purchase.
We can do this as we have established links with several developers and can negotiate healthy discounts on purchase prices. Please get in touch with us for a free no obligation chat about this facility
