Frequently Asked Questions
- > Why Let Your Property?
- > Why use an Agent?
- > How much income will I receive?
- > Do I leave the property Furnished or Unfurnished?
- > What sort of Tenancy Agreements are used?
- > How do you select a tenant?
- > Do you hold a deposit?
- > What is an inventory?
- > Whose responsibility are the utility bills?
- > Whose responsibility is the garden?
- > What do I do if the property is damaged?
- > How do I regain possession?
Why Let Your Property?
Many of our residential landlords have discovered great advantages in letting their properties - they may be moving out of the area or going abroad, but intend to return in the future or they may be unable to sell their property.
The advantages include:
- A let property produces regular income.
- Whilst the property is rented the burden of council tax, electricity, gas, telephone bills and water rates will be taken away.
- Property values may go up or down but you are assured you will return to the same standard of accommodation you have become accustomed to.
- The tax liability when selling a property, which has been let, is generally less onerous than many other forms of investment.
- An empty property can increase the insurance costs on it.
- Whilst the property is rented, it is lived in and kept warm and aired.
- Leaving your home unattended can lead to vandalism or a deterioration of its fabric. By leaving it with Highfield Property you can be sure in the knowledge that it will be well-maintained, secure and your investment protected.
With an increasing number of people choosing to rent either as an alternative to buying or for relocation purposes, there is a steady demand for good quality properties.
Why use an Agent?
By using an agent you will be benefiting from their extensive knowledge and experience of both legal procedures and the property market. There are many legal pitfalls and without the correct understanding of property lets, you may fall foul and receive a large fine. Our expertise ensures your property is in safe hands.
How much income will I receive?
There are many factors including, the economic climate, amenities location and the condition of the property to consider when calculating the correct rental value. We would be happy to visit your property free of charge and without obligation and using our professional expertise we can determine the expected rental value and advise you of the best letting and management package to suit your needs and situation.
Do I leave the property Furnished or Unfurnished?
There appears to be very little difference in the market value of furnished or unfurnished accommodation. Legal requirements state that a rented accommodation must at least have carpets, curtains and a cooker. This is classed as an unfurnished property. If you wish to leave your property furnished you must ensure that all soft fittings left in the property comply with the Furniture and Furnishings (Fire Safety) Regulations 1988 (Amended 1993). (See Landlord obligations). If any items do not comply they must be removed from the property.
What sort of Tenancy Agreements are used?
Different types of agreements are used under different circumstances. The majority of agreements are drawn up in accordance with 1988 Housing Act (Amended 1996), the Assured Shorthold Tenancy for a fixed period being the most frequently used. This agreement gives the landlord the best protection available. We will tailor the tenancy agreement to incorporate any special requirements, so that you can be confident that the property will be returned to you in as good condition as when it was first let (allowing for fair wear and tear). We would be happy to discuss this further with you.
How do you select a tenant?
Selection of the right tenant is very important. We will happily take on your instructions with regard to restriction on smoking, pets, children and DHSS. This can then be checked against our register of suitable prospective tenants and with the large employers in the area. If no suitable tenants are found advertisements are placed in the local press, and our own internet site. Once we have potential tenants interested they will be fully vetted, including work references, character references and sometimes if required a guarantor who will sign and underwrite the tenancy if any problems occur. Once we have completed these checks we will confirm with you that the tenants are suitable. We will not base a decision on the grounds of race, colour , disability or other unlawful discrimination.
Do you hold a deposit?
A deposit is held by our company in our client account. As we are fully licensed and bonded we can ensure it's security for both parties. The deposit is typically in excess of one month’s rental.
What is an inventory?
An inventory schedule lists all fixtures, fittings and contents within the property and their condition. This can be used at the end of the tenancy to ensure that the property is in the same condition as when first let.
Whose responsibility are the utility bills?
In a standard property, its tenant is responsible for gas, electrical, telephone and council tax bills, as well as the water rates.
Whose responsibility is the garden?
The garden like utility bills is the responsibility of the tenant. It is advisable to leave within the property adequate materials for the maintaining of the garden. If the tenants do not keep the garden up to the required standard we have our own gardening service and have the power (after a written warning) to tidy the garden and charge the tenant.
What do I do if the property is damaged?
During the tenancy we will monitor the state of the property and garden. At the end of the tenancy we shall carry out a full inspection using our inventory of contents, if any items are not working correctly or are damaged we will report these to you along with estimated costs of repair or replacement. We give the tenants first option to remedy the problem, if this is not done satisfactorily we will give you recommendations on the amount that needs to be deducted from the tenants deposit before it is returned to them.
How do I regain possession?
If the property is let using an Assured Shorthold Tenancy for a six months period, then the tenant is guaranteed possession of the property as long as the rent is still being paid.
To regain possession you as the landlord must give TWO months notice in writing that you require the property back, we can then serve the required two months notice in the prescribed form. The tenant is required to give one months notice to leave the property (again this is only after the initial six months).
If the tenant refuses to leave after the prescribed notice has been given then the matter may need to be resolved by the court. With the recently introduced APP (Accelerated possession procedure) the process need only take a couple of weeks.
If you have any further questions please do not hesitate to contact us.
