residential lettings a guide for landlords€¦ · guarantee insurance. these products cover the...

Residential LettingsA guide for landlords

www.glentworthlettings.co.uk

G l e n t w o r t hTHE PROFESSIONAL LETTING AGENCY

G l e n t w o r t h UKNATIONWIDE LETTING & MANAGEMENT SERVICES

1


WHY ARLA IS IMPORTANT

LANDLORD’S GUIDE

TESTIMONIALS

OUR SERVICES

5

8

WHY CHOOSE GLENTWORTH?

GLENTWORTH UK

4

GLENTWORTH ETHOS 3

INTRODUCTION 2

9

16

17

Contents

2


We are a specialist independent

letting and property management

company offering a friendly and

professional service

Darren Clapp, Managing Director

3


GlentworthEthos

We believe we have assembled a team

and a host of services that will give you:-

• High quality personal service

• Peace of mind

• Access to your accounts

online 24/7

• A complete package of

related services

• All at a value that we believe

can’t be beaten

Our experienced team can help you with:

• All aspects of residential &

commercial letting

• Property management

• Related financial services

• Insurance

• Property repairs & refurbishments

We aim to provide levels of service

that meet and exceed our customers

expectations.

4


Why chooseGlentworth?

• We undertake stringent vetting and

referencing procedures that means

you're more likely to attract reliable

tenants.

• We are happy to provide advice

and information.

• We lodge your tenants' deposit in a

secure deposit protection scheme.

• We can handle all of the paper

work in relation to your property.

• We can take care of the day-to-

day issues that arise if you do not

live near the rental property.

• We are knowledgeable of market

conditions and demand.

• As experts in our field, we strive

to achieve a higher rent than

you would.

• We keep abreast of the relevant

legislation affecting landlords.

• We act as an objective and

impartial buffer between you and

your tenants.

• We can reduce your workload.

• Your tenants can contact us, rather

than yourself, if necessary 24/7.

• We can offer legal, landlord

insurance, and tax advisory

services.

• We can arrange repairs and

refurbishment of your property.

5


Glentworth Professional Service throughout the UK

In response to requests from landlords we

have expanded our residential and

commercial property letting and

management services Nationwide. From

the bustle of the city to the wilds of the

moors we can offer:

• One point of contact – your own

personal portfolio manager

working for you

• A fully trained and professional

team working to make your assets

work for you

• Online access to your property

accounts 24/7

We understand that for many landlords,

full property management is a necessity,

not a luxury.

Specialising in the complete

management of commercial and

residential property portfolios throughout

the UK, we understand the value of your

portfolio, and provide a strategy to ensure

its performance meets and exceeds your

business needs. Operating on a national

scale, our service suits those looking to

maximise their property portfolio’s

potential.

6


From the day to day management to the

unexpected, our professionally trained

team will take the utmost care of your

property.

You may simply want us to find you a

tenant or collect the rent. We can do that.

Perhaps due to lack of time or desire, you

need us to undertake full

management of your property. We can

do that.

Whether you are a:

Property investor desiring greater control

over their property without having to do

the work themselves.

Property portfolio owner looking to off

load all or some of their properties.

First time investor with little experience or

knowledge.

Letting agent requiring management sup-

port.

Our portfolio management service allows you to concentrate on your core business while we look after your assets.

7


Key

Glentworth Lettings:

Head Office

Glentworth Uk: Nationwide Letting

& Management Services

Managing property throughout the UK

8


ARLA

Why it is important that we are members of ARLA

The Association of Residential Letting

Agents is the self regulating authority for

letting agencies, setting the standard for

high quality in the industry.

To become a member of ARLA, a letting

agency must prove that it performs to a

very high standard, has qualified staff and

holds all client money according to ARLA

best practise.

Some building societies and lenders insist

that landlords purchasing property

through them must use an ARLA

registered letting agent to let and

manage their property.

ARLA is seen as the benchmark in

residential letting and is often consulted

on legislation issues by Government.

ARLA client money protection scheme

is designed to reimburse clients of

members who have suffered financial loss

due to the dishonesty of the member

and/or their firm. ARLA have given a

'promise' to clients of ARLA members that,

up to pre-set limits, they will make

reimbursement for such losses.

Glentworth is proud to have achieved ARLA status.

9


Landlords GuideIf you are thinking of renting, then you need to consider…

Permission to let

Most mortgages have a clause

preventing you letting out your property

without the approval of the lender. If you

are a lessee, you must check that the

intended letting is permitted in your lease.

It is the landlord’s responsibility to check

and obtain necessary consents.

Insurance

It is the landlord’s responsibility to insure

the building and any fixtures/fittings/

contents that they provide. Tenants are

responsible for insuring their own

possessions.

Check with your insurer that they will

provide cover if a property is let or

whether they exclude certain events.

For example, conditions may apply if the

property becomes vacant between lets.

10


Tax on rental income

Income from letting a property in the UK is

subject to UK tax. You can set most

expenses against the rent. We advise all

our landlords to talk to a tax advisor about

the most tax efficient way of letting their

property. If required we can put you in

touch with a specialist.

You must advise us if you are residing

overseas for more than six months, as

there are special tax considerations for

overseas landlords. We can tell you about

these and help you fill-in the necessary

paperwork. In most cases it will be

necessary to register as an overseas

landlord with HMRC, New registrations

can take up to six weeks, which can

cause delays in payments. Therefore we

advise all landlords to take the necessary

steps as soon as possible.

We are able to forward the yearly

accounts for your rental properties to you

or your accountant (for a small fee).

11


Fire and Safety Issues

The tenancy agreement should state who

is responsible for repairs and

maintenance.

Under Section 11 of the Landlord and

Tenant Act 1985 and other safety

legislation there are certain items for

which the landlord is responsible:

Gas appliances and fluesA gas safe registered engineer must test

these annually and a certificate issued to

the tenant.

Heating and hot water systemsThese must be checked annually too.

ElectricityIf supplied, under the Consumer

Protection Act 1987, landlords must

ensure that each electrical appliance

(kettle,toaster, washing machine and gas

cooker with an electric ignition, etc) is

safe and does not present any danger to

a user. This also applies to the electric

supply and installation (e.g; wall sockets

and light fittings etc).

To ensure compliance with the act an

annual inspection and testing report is

necessary.

All appliances supplied must have their

instruction books and warning details.

Both the system and any appliances

should be safe.

12


Smoke Alarms

Under the Building Regulations Act 1991,

all property built since June 1991 has to be

fitted with mains and battery linked smoke

alarms on every floor. We would recom-

mend that smoke alarms be fitted in all

properties.

Furniture and furnishings

If supplied, all upholstered furniture and

furnishings (eg; mattresses, loose covers)

manufactured after 1950 are required to

be fire resistant. Conforming items are

marked with a kite ticket.

It is important your property meets all health and safety requirements. We can arrange any safety tests, which may be required.

13


Energy Performance Certificates

Energy Performance Certificates (EPC’s)

are the Government’s chosen way of

complying with the Energy Performance

of Building Directive (EPBD). Its purpose is

to record how energy efficient a property

is. The certificate will provide a rating of

the energy efficiency and CO2 emissions

of a building from A to G; where A is very

efficient and G is very inefficient.

Landlords are legally required to show

prospective tenants the Energy

Performance Certificates (EPC) prior to

letting the property. Failure to do so may

result in a £200 fine.

We can arrange for a qualified inspector

to issue a certificate. This certificate is

valid for 10 years.

14


Tenancy Deposit Scheme

It is a legal requirement that any deposit

handed over to an agent or landlord

under an Assured Shorthold Tenancy is

lodged into a Government approved

Tenancy Deposit Scheme (TDS).

The legislation aims to ensure that tenants

who have paid a deposit to a landlord or

letting agent and are entitled to receive

all or part of it back at the end of that

tenancy, actually get it.

The deposit must be protected within 14

days of receiving it. The landlord or agent

must give the tenant the details about

how their deposit is protected.

Inventories – protecting your investment

A professionally compiled Inventory &

Schedule of Condition is an essential

document and provides a strong

platform to ensure successful tenancies.

An inventory comprises an integral part of

the Assured Shorthold Tenancy

Agreement and provides a detailed

record of the contents and condition of

the property.

It is a very helpful tool to help maintain the

quality of your investment. It is also essen-

tial evidence in cases of tenancy deposit

disputes.

15


Houses in Multiple Occupation (HMOs)

Larger HMOs, such as bedsits and shared

houses, often have poorer physical and

management standards than other

privately rented properties. The people

who live in HMOs can be amongst the

most vulnerable and disadvantaged

members of society. As HMOs are the only

housing option for many people, the

government recognises that it is vital that

they are properly regulated

If you own or manage a residential let

property in England which is occupied by

more than one household, which share a

kitchen, toilet or bathroom, then the

chances are you own a house in multiple

occupations and need to apply to the

Local Authority for a licence.

Rent & Legal Protection

In these uncertain economic times, many

landlords are now considering

comprehensive Legal Expenses and Rent

Guarantee insurance. These products

cover the landlord’s costs for disputes

between themselves and their tenants.

They offer peace of mind.

We have access to a variety of policies

and would be happy to provide

quotations for your consideration.

Our fully trained staff will be happy to advise you on any of these matters.

16


Testimonials

“Thank you to Darren and all staff at

Glentworth for being so helpful and

professional. Before moving our properties

to Glentworth we were having nothing

but problems resulting in a tremendous

amount of stress and hassle. At Glentwoth

our properties are being professionally

looked after and we can actually go on

holiday without worrying”

Dave and Carol – Farnborough

“Just a little thank you for all of the work

you put in with our move, everything went

very smoothly and we couldn’t be

happier with everything you all did, we

are delighted with our lovely new flat”

Charlotte and David

“Darren, Alison and everyone at

Glentworth, Thanks so much for your help

and advice”

Karen Jones

“Thank you – outstanding customer

service, always contacted us when

promised and this new system is an

excellent idea to look at our property

information and download statements

when needed at the eleventh hour”

Mary Goldsmith – Leeds

“This is a note to say thank you personally

for your help with my property. I’m

impressed in how efficient the service was

and how all staff went out of their way to

help” David and Jean Ambrose – Manchester

17


Our Services

No let... No feeNo agent exclusivity or contractual tie-insFully trained and courteous staffOnline access to your property accounts 24/7

We offer a number of standard services - from

simple tenant finding to comprehensive full

management service. In addition we are also

able to do as much or as little of the letting and

management of your property as you request. It

is up to you to decide how much you want to be

involved in the letting and management

process.

The table details the most commonly requestedservices. We are able to provide a bespokeservice to meet your requirements.

Legalities

Arrange Gas Safety Annual Certificate

Arrange Energy Performance Certificate

Arrange PAT Testing (Portable Appliances)

Arrange Tenancy Deposit Scheme

£75

£75

£55

£25

£75

£75

£55

£25

£75

£75

£55

£25

Find aTenant

Find andCollect

FullManagement

PremiumManagement

Find a Tenant

Advertise + Market Property

Full tenant referencing

Create and signAssured Shorthold Tenancy agreement

Create Inventory and scheduleof condition

Set up standing order forms for rental payments

Transfer of Council tax and utility billsinto tenants names

Conduct move in and hand over keys to tenant

Table continued on page 18

18


Management

Initial visit & inspection

Valuation letter to lender

Refurbishment management

Maintenance/24 hour cover

Rent collection

Rent arrear collection process if needed

Pay landLord and send statement

Gerneral property/legal advice

Court posession organising if required

Property posession through the court

Attend court as witness for landlord

Personal account manager

Organise insurance quotes

Key holder for maintenance andemergency situations

24 hour maintenance telephone support

Renewal of tenancy

Conduct move out process

End of tenancy deposit arbitration

Legal Notices

Issue section 21 notices for propertypossession (each)

Solicitor issued section 8 notice

Issue section 13 for a rent increase

from £75

£30

POA

N/A

N/A

N/A

N/A

N/A

£75

£250

£195

N/A

£100

N/A

£35

£75

£75

£35

£125

£35

£35

£125

£35

£35

£125

£35

Optional

Landlord's 24/7 online access, (monthly fee per landlord)

SA105 Tax return (annual fee per landlord)

6 months rent protection with onemonth excess

12 months rent protection with one months excess

Buying and selling service

N/A

N/A

N/A

£125

N/A

£2.50

£50

£85

£125

1%

£2.50

£50

£85

£125

1%

N/A

1%

Find aTenant

Find andCollect

FullManagement

PremiumManagement

from £75

£30

POA

N/A

N/A

£75

£200

£140

N/A

£100

N/A

£35

£75

£75

£75

£200

£140

£75

£35

Please contact us for a personal quotation.

Notes:All prices stated are subject to VAT at 20%. These are indicative prices and may vary upon circumstances. Prices are subject to change and are correct at 1st January 2012.

Head Office

56 Orchard Street

Weston super Mare

Somerset

BS23 1RL

Telephone

01934 319 319

Fax

01934 417 451

Email

[email protected]


G l e n t w o r t hTHE PROFESSIONAL LETTING AGENCY

G l e n t w o r t h UKNATIONWIDE LETTING & MANAGEMENT SERVICES

residential lettings a guide for landlords€¦ · guarantee insurance. these products cover the...

Documents