Landlord Advice & Valuation
Legislation relating to letting a property has created a minefield for the uninformed or unwary and it is very easy for landlords to fall foul of these laws. We constantly monitor legislation to ensure our landlords aren't exposed to any risks associated to new laws relating to property. We can provide in-depth advice on the Tenancy Deposit Scheme, Health & Safety, Houses in Multiple Occupation licensing and make sure that all the legal aspects of letting a property are taken care of.
The following gives a brief outline of our services to landlords, but for more detailed information contact us to request our Landlord Information Pack
Why should I choose Spericle to let my property?
Having a property to let and finding someone who wishes to rent it may appear simple, but unfortunately the matter does not end there. Spericle has experience in marketing property, selecting the right tenant, taking up essential references, advising on the standard of the property, advising on all safety aspects and drawing up tenancy agreements under the Housing Act 1988. We also ensure receipt of cleared funds and stamping of legal documents.
Check before you let
If your rental property has a mortgage, before you even approach a letting agency like Spericle or consider letting your property yourself, you will need to tell and seek approval from your mortgage provider. You will also have to inform any insurance companies who provide cover for your property, as well as any joint owners who have a vested interest in your property – this includes the freeholder of your lease or a management company if you own a leasehold flat/apartment.
Moving or living outside the UK
Some of our landlords rent their properties whilst working/living overseas for more than 6 months, in particular those involved with the armed forces. In these cases we require you to apply for a Tax Exemption Certificate from the Inland Revenue; otherwise we are legally required to deduct tax from any rental income we collect on your behalf.
Should I let my property furnished or part furnished?
The majority of rental property is now part furnished i.e. offered with carpets, curtains and white goods in the kitchen. The rentals achieved for part furnished property are also equal to those for fully furnished rentals. The demand is there.
What insurance cover do I need?
The landlord insures the building and the landlord's contents. It is always advisable to have the most extended cover possible i.e. accidental damage cover and cover for theft by tenant which is now available through specialist policies. Landlords must also have insurance to ensure that they have public liability cover on both buildings and contents. The tenant must insure his own possessions. Spericle is able to arrange this insurance for you at very competitive rates.
How rentable is your property?
Many of today's tenants are looking for a higher standard of accommodation, so therefore new or refurbished properties are usually in demand and have better letting potential. We would always advise our landlords to consider modernising and redecorating older and 'dated' accommodation, as their rental yield usually increases significantly in most cases.
Cleaning your property thoroughly prior to any tenant moving in, is advisable and highlights to your new tenant the level of service they can expect from you as their landlord. Ensure your property is well presented by having the kitchen appliances, bathroom suite, flooring and skirting, windows and soft furnishings professionally cleaned; your tenant will then be required when vacating the property to leave it in the same condition.