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PAD-2-LET's Guide to Renting |
Landlords Guide to renting |
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| Approving tenants | Prospective tenants will be put through a referencing service at their own expense. In addition to the application form they must complete with their personal information, we also request 3 months consecutive bank statements & wage slips, photographic ID, proof of residency, Landlord references (if currently renting), personal character references and employment references. Their financial status is also checked through a credit referencing company. Once a tenant has been approved they will be required to pay a deposit to secure the property and agree a date for the tenancy to start. The Assured Short hold Tenancy Agreement will then be signed and a ‘Let by’ board will be ordered for the property. You will be notified of the approved tenant and the commencement date of the tenancy. |
Assured Short hold Tenancy (ASTs) |
Most tenancies will automatically be Assured Short hold Tenancy Agreements (ASTs), provided the rent is under £25,000 a year and the property is let to private individuals. The tenancy is usually granted for an initial fixed term of either 6 or 12 months after which rolls on from month to month. |
Bond |
A refundable bond equivalent to one month’s rent is payable by the tenant at the commencement of tenancy. In accordance with legislation Pad-2-Let will ensure this bond is paid to The Deposit Protection Service (DPS) within 14 days of the commencement of tenancy. At the end of the tenancy Pad-2-Let will request for the bond to be refunded to the tenant providing there has been no breach of contract. |
Council tax & utilities |
Council Tax and utility accounts will need to be transferred into the Tenant’s name. Meter readings will be taken at the hand-over of the property and the appropriate council and utility companies will be informed by Pad-2-Let on your behalf. |
Cleaning |
At the commencement of the tenancy the property must be in a thoroughly clean condition, and at the end of each tenancy it is the Tenants' responsibility to leave the property in the same condition. |
Completion |
After the hand-over of the property to the tenant, we will forward copies of all the documentation including the AST, inventory, tenant contact details, meter readings, completion letter, Energy Performance Certificate (EPC) and your statement. The initial payment and any future rental payments (less any fees and expenses) will be paid directly into your bank account. |
Energy Performance Certificate (EPCs) |
Since 1st October 2008 it has been mandatory for Landlords to make Energy Performance Certificates (EPCs) available to new tenants as part of the letting's process. Each EPC will last for 10 years. Pad-2-Let automatically arrange this with an approved contractor as part of the management fee. However if you already have a valid Energy Performance Certificate then the fees will be reduced by £75.00. |
Electrical Equipment |
Electrical equipment must comply with The Electrical Equipment (Safety) Regulations 1994 and an inspection is recommended prior to a tenant occupying the property. |
Furniture & Furnishings |
Your property can be let fully furnished, part furnished or unfurnished. We will be pleased to give you advice on whether to furnish, or not, and to what level. Upholstered furniture, furnishings and other products containing upholstery must meet Furniture and Furnishings (Fire Safety) Regulations 1988 as amended in 1993. The Landlord must allow for general wear and tear of furniture and furnishings. Personal possessions such as ornaments & pictures should be removed from the property and all cupboards, shelf space, loft areas and garages/sheds should be left clear for the Tenant's own use. |
Gas Appliances |
All Gas appliances must be inspected for safety purposes at least once a year by a competent Gas Safe registered technician (previously known as Corgi). A Gas Safety Check Certificate must be given to the tenant before occupying property under Gas Safety (Installation & Use) Regulations 1994 as amended. Pad-2-Let work closely with a local plumber and are happy to arrange this on your behalf. This is at an additional cost and will depend upon the amount of gas appliances in the property (approximately between £50 and £90). If you do not comply with the gas safety regulations, you can be fined up to £5,000 and be sentenced to imprisonment. |
Gardens |
Gardens should be left neat & tidy 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 to make your own arrangements for the maintenance. |
Insurance |
You should ensure that you are suitably covered for letting under both your buildings and contents insurance (if furnished). Failure to inform your insurers may invalidate your policies. It is the tenants obligation to insure their own possessions within the property. For details of landlord insurance please refer to our "Useful links" page |
Income Tax |
For Landlords residing in the UK, it is entirely your own responsibility to inform the Revenue & Customs of rental income received and to pay any tax due. |
Inspections |
Pad-2-Let will carry out inspections on managed properties every 6 months. We will check the condition of the property, ensure smoke alarms are working and check if the tenants have any problems with the property. Should the Landlord and Tenant agree to sign a new AST then arrangements will be made at no extra cost. |
Inventory |
It is essential to prepare an inventory in order 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. As part of our management service, we will arrange for an inventory to be prepared and a copy will be signed by the tenant and sent to the Landlord. Please note that for furnished properties we will charge a fee of £100 which is payable each time the inventory is checked on change of tenancy. |
Keys |
We will require 2 sets of keys. One set will be given to the tenant and one set will be held by Pad-2-Let for emergency access. |
Landlords Identification |
The proceeds of Crime Act 2002 places a requirement for all companies such as ourselves to obtain and retain evidence of identity and address for all people with whom we have a business relationship. In order that we can comply with the current legislation we will require photographic ID (passport or driving licence) and evidence of your address (utility bill, bank statement or mortgage statement). These must be original documents and will be returned by recorded delivery if sent by post. |
Leasehold property |
If you are a leaseholder, you should check the terms of your lease and obtain any necessary written consent before letting. |
Mail |
Please arrange for your post to be re-directed by Royal Mail. They will charge a small fee for this service but it will guarantee that you receive your post at your correct address. |
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 of which you must inform us. |
Marketing |
In addition to our attractive eye-catching ‘To Let’ boards we will also advertise your property on our very successful web site www.pad-2-let.co.uk. Each property has its own individual colour brochure highlighting the features of the property, measurements of the rooms, photographs and a location map. We advertise in the Leader Times Series and within the Property Today newspaper which is distributed to estate agents, financial advisers, solicitors, etc. All of our properties are also featured on the Property Finder website www.propertyfinder.co.uk which is found on most search engine websites such as Google. |
Overseas Landlords |
You must arrange for someone in the UK to be given Power of Attorney or authority (in writing) to act as proxy. When the property is managed on behalf of a Landlord who is overseas we, as their Agents become liable for the collection of the Tax due from rental income, and to this end we may deduct from the income before accounting to your bank sufficient to meet this tax. A Landlord may apply to the Inland Revenue to receive the income on a gross basis and if approved formal notice will be given to both the agent and owner. |
Preparing the Property |
A well presented and maintained property in a good decorative order will achieve a higher rental figure and tenants are also more inclined to treat such a property with greater respect. Electrical, gas plumbing, waste, central heating and hot water systems must be safe, sound and in good working order. Interior decorations should be in good condition and preferably plain, light and neutral. |
Repairs & Maintenance |
It is the landlord’s responsibility to maintain the property and to carry out any necessary repairs to the building and services both internally and externally. Your duty to keep the property, its structure, installations, services, sanitary fittings and heating systems in order is an implied term of the tenancy. Whilst we are managing the property and any item breaks down through no fault of the tenant, we shall in the interest of good management, arrange for repairs providing the anticipated cost is unlikely to exceed £200. When the cost exceeds £200 we will seek prior instructions if this is practical and feasible. It must be appreciated that emergency or urgent repairs will have to be placed in hand at our discretion. We have access to a team of reputable tradesmen to cover for most emergencies. Where we are informed of your preferred tradesmen we shall employ them provided they are easily contactable and reliable. If any equipment is covered by a service contract or guarantee we must have the details before the letting commences. A charge of 10% of the cost of the work may apply if in excess of £200. This allows for obtaining estimates and supervision of major work, repair and/or maintenance, or, in connection with insurance claims (to comply with relevant regulations). |
Re-Letting |
If you wish your property to be re-let once a tenant has vacated we require eight weeks notice before the expiry of the tenancy. If it is not the intention to grant a further tenancy or re-let the property then a minimum of three months notice is required. For Landlords on a ‘Full Management Service’ our fees are reduced to £100 for a change of tenancy to cover viewings, travelling, advertising, ‘To Let’ board, telephone calls, inventory, notifying utilities and preparation of Tenancy Agreement. For Landlords on a ‘Let Only Service’ the re-marketing fees are at the full price of £375.00. These prices do not include the EPC or Gas Safety Inspection if they require renewal. |
Rent |
Pad-2-Let will make arrangements with the tenant to collect rental payments by standing order each month. The tenant cannot challenge the agreed rent during the period of an Assured Tenancy Agreement. After the initial period of the tenancy agreement the tenant can refer any increase of rent to a Rent Assessment Committee. Correct procedures must be followed to increase rent. |
Recovery of possessions |
When the fixed term has expired the Landlord is able to regain possession of the property provided two months notice is given to the tenant in writing. If the tenant is in breach of the AST, Pad-2-Let can serve the necessary notice to terminate the Tenancy, but cannot guarantee that the Tenant will actually leave when they should. If the tenant refuses to go you will need to arrange for your solicitors to start possession proceedings. The actual length of time to obtain possession will vary depending upon the circumstances of the case. |
Smoke Detectors |
A minimum of one Smoke Detector per floor must be fitted and comply with BS 5446 Part 1 of the Smoke Detectors Act 1991. These must be tested and working prior to commencement of the tenancy. |
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Pad-2-let Property Management provide specialist management services in quality residential letting's throughout North East Lancashire, North and West Yorkshire, including Pendle : Ribble Valley: Barley : Barrowford : Burnley : Barnoldswick : Bracewell : Brierfield : Bolton-by-Bowland : Colne : Cowling : Clitheroe : Cross Hills : Earby : Foulridge: Gisburn : Hellifield : Kelbrook : Keighley : Laneshawbridge : Long Preston : Nelson : Oakworth : Padiham : Read : Skipton : Salterforth : Thornton-in-Craven : Trawden : Waddington |
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www.pad-2-let.co.uk |
© 2007 - 2011 Pad-2-Let Limited |
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