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Landlords

In the UK letting is a very popular way of making money from property. Whether you are a first-time landlord with a single property, or a seasoned professional with a large portfolio, letting is a very popular way of making money from your property. Whether you are a first time landlord or a seasoned professional with a large portfolio, Prestige Properties' unparalleled experience means your property is in very safe hands. The decision to let out your property is not one that should be taken lightly. Care and advice will be necessary if you want to safe guard yourself in accordance with the many obligations and duties that apply to a person in the role of a landlord.

As a landlord, you want to rent your property out as quickly as possible for the best price. You want to avoid empty periods and guarantee a regular income. If you dont want to be bothered with the day-to-day management of the property, well sort all that out too.

Letting property is a core element of our business and we understand the complexities. Every landlord and every property is different, so well tailor our proposal to you. You want to be kept in the loop at every stage? We hear you. Prefer to leave it all to us while you get on with other things?  No problem.

There are lots of parts to the process of letting.  Well advise you at all stages, or just step in when you want us to.

Preparing the property, we'll advise on

  • Fixing up and decorating to suit the target tenant
  • Required safety checks
  • To furnish or not to furnish?

Its all in the detail

  • Powerful marketing, targeting the right audience
  • Managing viewings with the minimum disruption to you
  • Coordinating feedback and offers

Dotting the Is and crossing the T's

  • Full tenant checks
  • Preparing the tenancy agreement

How much do you want us to be involved?

  • Want us to just market the property and find the right tenant?
  • Maybe we can offer a little more by collecting the rent every month saving you the hassle?
  • Or, perhaps we can manage the property for you ongoing?  (No late night calls when the boiler conks out; guaranteed).

Houses in Multiple Occupation (HMO)

The Housing Act 2004, which was introduced in April 2006 in England and Wales was created with the intention of providing a fairer and better housing market for those renting properties. The main elements of it include;

An HMO is a property that is shared by three or more tenants who are not members of the same family. Depending on the exact type of HMO some landlords must have a licence from the council.

All HMOs, whether the landlord needs a license or not, are subject to Management Regulations and Inspections under the Housing Health and Safety Rating System (HHSRS)

This ensures that the property is managed properly and meets certain safety standards. The licence will be valid for up to three years, and will then have to be renewed.

HMOs are far more profitable to run than other types of residential lettings with rental incomes often two to three times those of single households. However, they require far more in terms of management time and effort.

Tenants of HMOs have a responsibility to cooperate with their landlords to ensure that the regulations are complied with. This may mean allowing access to rooms at reasonable times.

Tenants who dont pay their rent on time, cause damage to the property or nuisance to other occupants and neighbours will be in breach of their tenancy agreement and could face eviction proceedings.

You should contact you own local authority (where the property is located) for confirmation of specific rules and regulations regarding HMOs.

At Prestige Properties we offer help and guidance on how to bring a property up to HMO standard and can even have the work carried out for you. We carry out all statutory inspections and ensure no breaches are being committed.

Tenancy Deposit Scheme

From April 2007, deposits paid by tenants who have assured shorthold tenancy agreements will be safeguarded by a government sponsored scheme, who will facilitate the resolution of any disputes that arise in connection with such deposits.

There are two types of scheme

  1. Custodial Scheme - a tenant pays the deposit to the agent/landlord who in turn places it into a designated scheme account. When the scheme administrator returns the deposit to either the tenant or the agent/landlord it is done so with interest at a rate specified by the Government. If they are not in agreement, a final court order will have to be obtained specifying the proportion of the deposit to which each is entitled.
  2. Insurance based schemes - a tenant pays the deposit to the agent/landlord who only transfers it into a designated scheme if there is a dispute at the end of the agreement. When the agent/landlord and tenant reach agreement or a court decides how much each party is entitled the administrator will distribute the deposit accordingly.

A deposit must be protected and the prescribed information provided to the tenant(s), within 30 days of collecting the deposit. Failing to do so can result in a fine of 1 to 3 times the deposit amount.

Energy Performance Certificate (EPC)

What is an EPC?

The Energy Performance Certificate (EPC) gives home owners, tenants and buyers information on the energy efficiency of their property. It gives the building a standard energy and carbon emission efficiency grade from A to G, where A is the most efficient and with the average to date being D.

In addition to the rating for your buildings current energy performance, part of the EPC report will list the potential rating that the building could achieve (using the same A to G scale), if the recommendations that are provided within the report were to be made. It is not mandatory for anyone to act on the reports recommendations. However, doing so may cut your energy bills and reduce your carbon emissions.

Who needs an EPC?

As a tenant moving into a property, or as a buyer looking to purchase, it is the legal requirement of the existing owner to provide you with a full Energy Performance Certificate, free of charge. This law comes into effect after 1st October 2008.

Agents/Landlords and owners are only required to produce an EPC for a property that is self-contained, and the certificate is then valid for 10 years. However, an EPC isnt required when a tenant rents a room and shares facilities.

A group of friends rent a property and there is a single contract between the agent/landlord and the group as the contract is for the rental of a whole dwelling. An EPC is required for the whole dwelling.

 

 
 
 
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Sitemap: Contact Details:
Prestige Properties
527 Bristol Road,
Selly Oak,
Birmingham
B29 6AU

Tel:0121 471 1924
Email:info@prestigeproperties.uk.com
Out of office hours:07405903447
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