Information
for Landlords
Castle
Commercial
Castle Commercial are a firm of Chartered Surveyors, Valuers and
Estate Agents and are able to offer a specialist residential lettings
package including a full management service.
Relevant
Legislation
The Housing Act 1988, as amended by the Housing Act 1996, which
came into effect on 15th January 1989, introduced Shorthold Tenancies
which offers the Landlord a guaranteed right to possession of
the property at the end of the Tenancy.
The following are important features of an Assured Shorthold Tenancy:
- An
Assured Shorthold Tenancy will be for a term of at least six
months.
- The
Landlord must give the Tenant at least two months' notice
to bring the Tenancy to an end on the required date.
- The
Housing Act 1988, as amended by the Housing Act 1996, has
encouraged new Landlords to make their properties available
for letting, however, it should be stated that if a Tenant
does not leave the property after Notice has been served,
a Court Order would be required for repossession of the same.
Although there are now fast track procedures in place for
easier and quicker possession.
The
Rental
The Landlord is responsible for the following:
- The
Landlord is legally responsible for maintaining the fabric
of the building, central heating and hot/cold water systems
of the property and keep the same in good repair.
- The
Fire and Furnishings (Fire) (Safety) (Amendment) Regulations
1993 came into force on 1st March 1993 for all property coming
on to the rental market for the first time. All furniture
must comply with these regulations and must have a label clearly
showing that they are fire-resistant. Any new or additional
furniture being put into the property already on the rental
market from 1st March 1993 must also comply with these regulations.
In practice therefore any upholstered furniture left within
the property must be fire resistant otherwise it must be removed.
- All
gas and electric appliances including gas fired boilers, gas
fires etc must be serviced at least annually by a CORGI registered
tradesman. Failure to comply with this will lead to prosecution.
It is now required that an instruction book in English is
to be left with each appliance in order that the Tenant can
see how to safely use them.
- At
least one smoke detector must be installed per floor of each
property.
- The
Landlord must inform his Mortgagee that the property is to
be let. Castle Commercial will undertake to comply with the
Mortgagee's requirements provided they are notified with the
same prior to the onset of the Tenancy.
- It
is the Landlord's responsibility to inform their Insurers
that the property is Tenanted and to maintain buildings, contents
and public liability cover throughout the term of the Tenancy
and at all times.
Additionally, we recommend the following:
- That
an unfurnished property has good quality carpets, curtains,
cooker and a fridge.
- A
furnished property must obviously benefit from the above,
plus also furnishings of a reasonable standard, and complying
with the fire regulations above. Generally, all decorations
must be in good, clean condition. We reserve the right that
if the property is not clean on the handover to the Tenants,
to instruct a separate cleaning company. Basic requirements
such as light bulbs, toilet roll holders etc should also be
left.
- That
the garden is in a neat and tidy condition.
The
Service We Can Offer
Our comprehensive letting and management service includes the
following:
- A
personal inspection of all properties.
- Advertising
for Tenants in The Hinckley Times or other suitable newspaper
if required, and interviewing all suitable Tenants.
- Taking
up references through a reputed credit checking and referencing
service.
- Preparing
for signature all legal documentation including Notices.
- Prior
to the commencement of the Tenancy, taking an Inventory of
contents of the same and generally noting the condition of
the property.
- At
the commencement of the Tenancy, taking from the Tenants a
security deposit approximately equal to one month's rental
and holding this as stakeholders until termination of the
Tenancy.
- Collection
of rental monthly in advance.
- At
the end of the Tenancy, reinspecting the property to check
over the Inventory of contents, generally to ensure that the
property has been left in a satisfactory condition. Any damage
caused by the Tenants or cleaning required will be deducted
from the security deposit.
- Sending
a monthly statement of account to the Landlord. If necessary
for British Nationals working abroad, we will deduct 23% of
the net rental income under the current tax legislation for
possible tax liabilities, until the Inland Revenue confirms
your tax status. In this regard a full statement can be provided
for the Landlord's accountant, whose services we recommend
landlords now working abroad should use.
- If
necessary instructing competent contractors to carry out works
of repair on the property and on satisfactory completion of
the same, settling their accounts from the rental received.
It is a condition of our employment that we have authorisation
to sanction works up to the value of £100.00 plus VAT.
Further
Information
For further information and if you would like a free rental assessment
of your property, please do not hesitate to contact this office.
Should you decide to go ahead then we will be only too happy to
forward on to you a Contract outlining our terms of business.
After receipt of the same, duly signed, we will begin to market
the property and seek a suitable Tenant.
Fees
You will find our fees very competitive, please give us a ring
or e-mail us for details
