If you’re thinking about letting out your home, there are a number of important factors to consider before putting it up for rent. We’ve put these tips together to ensure you understand your RESPONSIBILITIES AS A LANDLORD and know how to protect your property, and keep your tenants happy; dealing with any issues that may arise.
It is very important that your current buildings and contents insurer is made aware of your intention to let your property, as your policy will probably need to be amended.
Consider arranging landlord insurance, which will cover any financial losses connected with your rental property. Whilst landlord insurance isn’t a legal requirement, it is advisable as the policy will protect the building, your tenants and your investment as a wholesome policy will also pay out if your tenant misses their rent payments.
The decision to rent your home will mean that you go from being a homeowner and occupier to a landlord, and with your new status, comes great responsibility.
In the first instance, check that your mortgage allows you to let out your property, as some agreements contain caveats to prevent homes from being rented. If you are unsure, speak to your mortgage lender and they will be able to advise you accordingly.
Being a landlord is a 24/7 job, so be prepared to receive calls from your tenant at any time during the day or night, as many issues will need immediate attention (such as a gas leak, or broken boiler for example). You will be accountable for all repairs and maintenance and taking care of refurbishment of the interior and exterior of the property when required.
When it comes to being a landlord, there are more regulations to comply with than you can shake a stick at. To put it into perspective, there are currently around 145 laws that landlords need to adhere to when letting a property.
Right to rent checks in line with immigration laws (in England)
Fit for habitation and safe for your tenant
Gas Safety check every year
Needs to have an EPC (energy performance certificate) needs to be Band E or above (they’re valid for 10 years)
Paying Income Tax if the revenue from the property exceeds £2,500 per annum
At Move 247, we pride ourselves on being specialists in our industry and are confident we can let your property quicker than anyone else. We provide a full lettings and management service, giving you peace of mind and reassurances that your property is managed by qualified letting professionals within the industry.
All of our highly trained staff aim to keep our clients regularly informed about changing housing legislation and our Tenancy Agreements are regularly updated to encompass current practices and procedures
Once a potential tenant has been found for your property, they will undergo an extensive assessment procedure. Our referencing service has been designed to minimise risks and to ensure that the let goes smoothly. As well as financial references and fraud checks, we approach employers and, where applicable, any previous landlord.
Our property management staff are regularly trained to keep them abreast of developments in the law affecting lettings and specifically to protect your interests. Through regular property visits and extensive experience, we strive to exceed your expectations and to give you the advice and service you expect.
Letting fee maximum 7% of one month’s rent inc vat. Management service maximum 7% of monthly rent inc vat. Rent
PRE-TENANCY FEES (ALL SERVICE LEVELS)
• Energy Performance Certificate (EPC) £108 inc.VAT per tenancy
• Gas Safety Certificate (GSR) £95 inc.VAT per tenancy
• Electrical Installation Condition Report (EICR) £225 inc.VAT per tenancy (every five years)
• Portable Appliance Testing (PAT) £95 (inc. VAT) per tenancy
• Legionella Risk Assessment £90 (inc. VAT) per tenancy
• Installing Smoke alarms and Carbon Monoxide £65 (inc. VAT) per tenancy
• Testing Smoke alarms and Carbon Monoxide detectors on the first day of the tenancy £60 (inc. VAT) per tenancy
• Handling local authority licensing application £120(inc. VAT) per tenancy
We can usually make an offer to rent out your property within 24 hours from viewing. If you accept, we will become your professional tenant. We guarantee rent 365 days a year, no matter if the property is occupied or not. We have no fees and absolutely no hidden charges.
| High Steet Agent | Move247 | |
| Monthly Rent | £ 1,500 | £ 1,300 |
| Annual Rent | £ 18,000 | £ 15,600 |
| MINUS | ||
| Typical void period 1.5 months | -£ 2,250 | £ 0 |
| Annual tenant finding fee 5% | -£ 900 | £ 0 |
| Annual management fee @12% | -£ 2,190 | £ 0 |
| Inventory | -£ 100 | £ 0 |
| Annual Rent | £ 12,500 | £ 15,000 |
| Your Monthly Profit | £ 1,050 | £ 1,300 |
We work with many companies who are relocating their executives from abroad, and because of that, we will rent out your properties to the best quality tenants. All our tenants are young professionals or post-graduate students and each tenant goes through a rigorous screening process. After all, we are responsible for any rent arrears or misbehaviour. We are also responsible for all voids and you will never again need to worry about this.
We will also take care of all calls, tenant issues, emergencies, renewals of necessary certificates and so on. You are finally free from the stress of renting your home. Instead, you can go travelling or do whatever you like with peace of mind that every month you will get your rent deposited into your bank account!
Because of the benefits of our service, we realized that most landlords never leave us. Even better, every landlord we have ever worked with, after being assured about our services, has agreed to rent his other properties to us and recommend us to his friends.
An additional benefit is we will lightly refurbish your property (and pay for it) to satisfy our high standards. This is something that no high street estate agent will ever do. We will always keep your house in tip-top condition and we will also arrange weekly cleaning and gardening for your property at no extra cost to you!
• Guaranteed payment on the agreed date, every month! You will ALWAYS get paid even if the property is empty at the moment.
• We will never charge you any fees or commission.
• There will never be any sneaky ‘hidden’ or ‘unforeseen’ costs.
• We will take great care of your property and put good tenants inside