Landlord Information
Managing Your Property
At Property First we understand that your property is likely to be one of your largest and most valuable assets. As a small, local, business we are able to provide a professional, personal service to our landlords. We have been successfully letting properties in Suffolk and Essex since 2000. We specialise in all aspects of property management and residential letting and pride ourselves on being able to provide peace of mind and a trouble free tenancy. Our staff are ARLA qualified and have expert knowledge of the local area. Our offices are conveniently located just outside Ipswich town centre.Initial Advice
Our Property Management and Lettings expert will visit your property to provide you with a FREE market appraisal, giving advice on potential letting opportunities and approximate rental value. You will be able to discuss your needs further at this stage and give us the opportunity to provide you with our expert knowledge of managing properties in the area. You will be able to tell us of any specific letting requirements you have for the property, which can be included in the property details, if you wish.
How We Market Your Property
Property First advertises extensively both locally and nationally, thus increasing the number of properties let. You will find us on the property major websites such as Rightmove and Primelocation; we also have display adverts in the Yellow Pages and Thomson Local as well as being on Yell.com. We advertise in the East Anglian Daily Times and Evening Star. Our property lists are sent out to major local employers and placed in outlets around the town centre. We also hold a database of potential available tenants.Viewings
All viewings are strictly by appointment with Property First and accompanied by our Property Management and Lettings expert, who will ensure the property is secure when they leave.Finding A Tenant
Once we have found a suitable tenant for your property, we will notify you by telephone and also in writing. We will inform you of their personal and financial circumstances, and, can also arrange for you to meet them in advance, should you wish. Once you have agreed you would like them to move in to your property we carry out a number of standard checks to ensure they are reliable, don’t have CCJ’s or bad credit, etc. Copies of all references received are then provided to you for your approval.The Tenancy Agreement
We will prepare an approved Tenancy Agreement, with appropriate additional clauses. We also issue the relevant legal notices, at the correct time.Management/Maintenance Of The Property
As a landlord you have a statutory responsibility for the upkeep of your property in accordance with Section II of the Landlord and Tenant Act 1985. We deal with day to day repairs to the property up to £200, and will deduct invoice payments from your account. Any maintenance work required over £200 will always require your authorisation before we can arrange for work to be carried out. We do, however, reserve the right to use our own discretion in the event of an emergency. We provide tenants with a 24 hour/365 days help line in the event of an emergency.
Project Management
Should your property require refurbishment or extension, we are able to offer a project management service. With our network of approved contractors we can assure you that the job will be carried out quickly, and to a high standard, to ensure that your property is ready to rent at the earliest opportunity. Please contact us for further details and fees/charges.Before the Tenant/s Move In
Prior to the tenants moving into your property, a full comprehensive inventory and schedule of condition is undertaken. This lists in detail, the current condition of the property, and includes contents in each room, including fixtures and fittings. A correctly detailed inventory is essential before a tenant moves in. Before we hand over the keys, the tenant/s must sign the inventory to agree that it is a true record of the original condition. The Inventory is also signed on behalf of Property First. Photographs and/or video footage can also be taken, on request. The inventory and schedule of condition will be carried out by our Property Management and Lettings expert, unless otherwise requested. Landlords are more than welcome to carry out this exercise themselves should they so desire.
Deposits And First Months Rent
We require all tenants to provide one month’s rent as full deposit and the first month’s rent in advance. Full deposits will only be returned to the tenant/s if the property is being left in the same condition as when they moved in. Deposits will be held in our bonded clients account to comply with the new deposit regulations that came into effect in April 2007.Inspections
Periodic inspections are undertaken to ensure the condition of your property, and full reports will be sent to you. You are also welcome to visit the property, should you wish, so long as prior notice has been given to the tenants.Checking Tenants Out
When we check tenants out, the inventory will be compared against the condition of the property at the time of leaving. Any damage/dilapidations will be deducted from the deposit, with the exception of fair wear and tear.Management Services We Offer
We offer two property management services, and the choice you make will very much depend on your personal circumstances. However, if you have never rented a property before, or you live out of the area, we would always recommend you take advantage of our full management service.Introduction Only
This service doesn’t include management of the property once a tenant has moved in. The service does include the following:- Letting advice
- Marketing of your property
- Tenant assessment and referencing
- Preparing the approved Tenancy Agreement
- Providing an inventory and schedule of condition
- Collection of the deposit and first months rent, in advance
- Set up the standing order
Full Management Service
Our full management service includes everything within the Introduction Only service, plus the following:- Monthly rent collection and payment to landlords
- Comprehensive monthly statements of income and expenditure
- Notifying utility companies and Council Tax authority of account transfers
- Periodic inspects with full reports
- Arrange for gas and electrical safety checks and renewals
- Full property and maintenance management
- Serving appropriate notices
- Negotiating renewal terms
Insurance
If you have a mortgage on your property, your Mortgage Deed will usually require you to obtain consent from your lender, before you are able to let the property. If the property is Leasehold, the landlord should obtain permission from the superior Landlord and Management Company.You should inform both your Building and Contents insurers that you are proposing to let your property and obtain their confirmation that this does not affect your cover. If you are letting the property completely unfurnished, it would be the responsibility of the tenant/s to find their own contents insurance.
Landlords Legal Requirements
It is the landlord's responsibility to ensure the property to be let is done so safely. There are three statutory regulations that must be satisfied before a property is let. These include:- Low Voltage Electrical Equipment Safety Regulation 1989 & 1994 Amendment
- Gas Safety (Installations and Use) Safety Regulation 1994 & 1998 Amendment
- The Fire and Furnishings (Fire Safety) Regulation 1988 & 1993 Amendment
Smoke Alarms Building Regulations 1991. All properties built since June 1992 must have interlinked mains-connected smoke detectors / alarms on each floor of the property. Older properties must be fitted with standard smoke detectors/alarms. Smoke alarms must be checked regularly to ensure that they are in full working order. Property First are able to arrange this for you.
Tax
Overseas landlords may be eligible to tax exemption on full rental income; you should contact the Inland Revenue Office to determine if you are eligible. If you are then we will need you to provide us with a tax exemption certificate so that full rental income can be credited to you. However, if an Inland Revenue Tax Exemptions Certificate is not given we will retain all net tax on income and pass this onto the Inland Revenue offices on a quarterly basis, as required by law.
We are also obliged to provide an annual return of information to the Inland Revenue for all overseas landlords. Overseas landlords are also requested to appoint a U.K. representative to deal with all tax correspondence. A tax certificate will be issued to overseas landlords by the 5th July as evidence for any tax paid to the Inland Revenue on your behalf.
If you are not used to dealing with the Inland Revenue Office, we strongly recommend using our accounts option to complete personal tax returns, through our associated chartered and certified accountants, so you have total peace of mind. However you may employ you're own certified accountant.
Landlords Rent and Legal Requirements
We recommend you take out legal protection cover; this ensures that in the unlikely event of the tenant not leaving your property in accordance with the tenancy agreement, you will be covered for legal costs up to £15,000 to help remove them from the property. We also advise that you take out rental guarantee cover, which ensures in the event of the above occurring you continue to receive your rent payments. We will be happy to arrange these policies for you.What We Require From You
Once we have provided you with our initial advice and you have decided to use Property First, you need to- Confirm in writing that you wish us to proceed and market your property by signing Terms and conditions.
- Return the completed management registration form
- Provide us with 2 sets of keys (one for the tenant, the other to be held by Property First)
- Provide us with proof of ownership for the property
- Advise us of the FULL names of the proposed landlord(s), current address(es), contact telephone number(s) and email address(es)
- Advise the current utility suppliers
