Robert ellis 20p sales guide(digital) - Flipbook - Page 13
Getting started –
to let your property…
Robert Ellis are the largest independent letting agent specialising in the areas to the
Other Essential Information
West of Nottingham and the East side of Derby, we have been letting and managing
There are a number of other considerations that may also
apply depending on your circumstances:
properties in the region for more than 30 years
Mortgage provider approval
The thought of becoming a landlord, particularly for the first
time, can be both exciting and somewhat daunting. The idea
of receiving a healthy regular return on your investment is
tempting, particularly for those planning financial security
for the future.
safe’ registered engineer who will provide a ‘Landlords Gas
Safety Record’ prior to the commencement of any tenancy.
Likewise, you should ensure that the electrical supply and
wiring is safe and obtain safety certificates from a suitably
qualified electrical contractor.
It’s worth noting that a landlords responsibilities are many
and varied and their obligations towards tenants and the
property may seem onerous at first glance.
Furniture and Furnishings (Fire Safety) Amended
Matters of Safety
You may consider letting out your property on a furnished
or part furnished basis. Think carefully. First of all, all
soft furnishings including upholstered furniture, beds,
mattresses, pillows and cushions supplied in the property
and forming part of the letting need to be labelled as fire
retardant. These regulations outline all of the landlords
responsibilities, always be compliant. The condition of
the property, fittings and equipment provided all need to
be fit for purpose, clean and fully operational. Warranty
documents should always be retained.
Energy Performance Certificate
Smoke and carbon monoxide detectors
All landlords are obliged to provide
an Energy Performance Certificate
(EPC) when offering a property to
the market. The EPC shows a record
of the energy efficiency levels and
CO2 emissions of a building. The cost
is nominal and provides cover for
10 years. It is worth noting that a minimum ‘E’ rating will be
required for all rental properties offered to the market.
Recent legislation has introduced
a requirement for all landlords to
provide smoke and carbon monoxide
alarms to not only ensure the safety
of the tenants, but also provide
protection for the fabric of the
property. You must ensure that at
least a battery operated smoke alarm is provided on each
individual floor of the property and we would also insist
upon a suitable carbon monoxide detector located close to
any gas or solid fuel burning appliance.
Professional advice is essential if a ‘trouble free’ let is to be
achieved, we are here to guide you through all aspects of the
lettings and management process with a view to maximising
your investment return… Without the headaches!!
Your legal obligations
as a Landlord…
Gas and electrical compliance checks
Where gas is connected to a property
all of the appliances, pipework and
flues in the property must comply
with the gas safety regulations
(1998). This includes an annual
safety inspection carried out by a ‘gas
Landlords have a legal responsibility to ensure the water
supply to the property is free from legionella bacteria. It is
important that a risk assessment is carried out by a qualified
Most rented properties will already be subject to a mortgage
or other loan. It is normally a requirement that written
consent from the lender to let the property is obtained.
Failure to comply may constitute a breach of your mortgage
agreement, be aware that an approval consent fee may
apply. Always speak to your mortgage provider.
Buildings and Contents Insurance
As a landlord you are responsible
for ensuring that the property is
insured for both buildings and where
appropriate, contents. This should
also include third party liability cover
– always check with your intended
provider, we are happy to provide
alternative quotes if required.
Head Lease Approval
Where a property is held on a long
lease, often the case with flats or
apartments, the landlord must
ensure that the intended letting is
permitted under the terms of their
‘Head Lease’. Permission is usually
required to ‘sub-let’ and approval
consent fees may apply. It is worth noting that in most cases
both the ground rent and the service charge remain the
responsibility of the landlord.
HMRC and Tax Obligations
Rental income is ‘unearned income’
and is likely to attract a taxable
gain. HMRC will insist upon a self
assessment breakdown of rental
income for any financial year, as a
landlord, it is your responsibility
to provide this. Certain costs such
as professional fees and routine maintenance charges are
usually tax deductible.
Finding the right tenant
and during the tenancy…
As Chartered Surveyors, we are regulated by its code of
practice offering full client money protection and providing
peace of mind for all our clients.
A rigorous tenant referencing service through our
independent referencing company provides all landlords
with a detailed background check on any potential tenant.
When suitable tenants have been found we will sign the
appropriate Assured Shorthold Tenancy Agreement on
Our tenant deposit certification system ensures you comply
with all aspects of the tenancy deposit scheme to guarantee
that your tenants money is properly protected.
Regular internal inspections and landlord feedback
throughout the let ensures you are kept fully up to date
during the term of the tenancy and we will also advise you
of any necessary remedial works required during this time.
Handling repairs in a timely and professional manner is
hugely important to both protect the fabric of the building
and to ensure the tenants quiet enjoyment during the
We can attend to the vast majority of the ‘day to day’
repairs and maintenance issues but in all cases will gain your
approval in the first instance.
Our dedicated accounts department will provide you with
monthly statements outlining rents received, expenses
incurred etc. and are always on hand to assist when
At the end of the tenancy…
To ensure potential void periods are kept to a minimum it is
essential a thorough final inspection is carried out when a
tenant finally vacates. The original inventory will be checked
over thoroughly to ensure everything is in order. Final
utility readings will be taken and all keys logged back in. Any
concerns regarding final condition will be negotiated with
the tenants and if necessary, where arbitration is required,
we will handle all aspects on your behalf.