Armstrong Lettings : Landlords Information
Guide For Landlords
Before a property can be let, there are several matters,
which the owner will need to deal with to ensure that the
tenancy runs smoothly, and also that he/she complies with
the law. For brief details of a subject click on a blue link
below, or scroll down the page. If you require further
advice or assistance with any matter, please do not hesitate
to contact us:
IMPORTANT NOTE:
A range of new legislation affecting landlords is
being phased in during 2006 relating to: Houses in Multiple
Occupation (HMOs), Selective Licensing, Tenancy Deposit
Protection, Housing Health and Safety Rating System (HHSRS),
and Accreditation Schemes. As you would expect, we will
provide all of our landlord clients with adequate
information and advice on these provisions to ensure that
they, and we, remain firmly on the right side of the law.
Mortgage
If your property is mortgaged, you should obtain your
mortgage’s written consent to the letting. They may require
additional clauses in the tenancy agreement of which you
must inform us.
Leaseholds
If you are a leaseholder, you should check the terms of your
lease, and obtain the necessary written consent before
letting.
Sub-letting
If you are a tenant yourself, you will require your
landlord's consent.
Insurance
You should ensure that you are suitably covered for letting
under both your buildings and contents insurance. Failure to
inform your insurers may invalidate your policies.
Bills and regular outgoings
We recommend that you arrange for regular outgoings e.g.
mortgage, service charges, and maintenance contracts etc. to
be paid by standing order or direct debit. However, where we
are managing the property, by prior written agreement we may
make payment of certain bills on your behalf, provided such
bills are received in your name at our office, and that
sufficient funds are held to your credit.
Council tax
Council tax is the responsibility of the occupier. You
should inform your local collection office that you are
leaving the property. During vacant periods the charge
reverts to the owner.
The Inventory and Schedule of
Condition
It is most important that an inventory of contents and
schedule of condition be prepared, in order to avoid
misunderstanding or dispute at the end of a tenancy. Without
such safeguards, it will be impossible for the landlord to
prove any loss, damage, or significant deterioration of the
property or contents. In order to provide a complete service
to the landlord, we will if requested arrange for a member
of staff to prepare an inventory and schedule of condition,
at a cost to be quoted.
Income tax
If the landlord is resident in the UK, it is entirely
his responsibility to inform the Inland Revenue of rental
income received, and to pay any tax due. However, where the
landlord is resident outside the UK during a tenancy, under
new rules effective from 6 April 1996, unless an exemption
certificate is held, we as landlord's agents are obliged to
retain and forward to the Inland Revenue on a quarterly
basis, an amount equal to the basic rate of income tax from
rental received, less certain expenses. An application form
for exemption from such deductions is available from this
Agency, and further information may be obtained from the
Inland Revenue.
|
