Unit 12, Site Office
You will find below a checklist of items we require for you to confirm to us or, provide us with copies of before we can agree to let a property on your behalf.
Consent to Let: Provide copies of the mortgage lenders consent to let the property - If you have a mortgage you must obtain consent from your mortgage lender. If your interest in the property is leasehold your lease may require you to obtain consent from your Landlord prior to subletting.
Power of Attorney: If electing a Power of Attorney to manage your affairs, we are required to hold a certified copy of the deed stating such.
Providing proof of Landlord insurance: Buildings (full replacement value), content and public liability - Some home owner insurance may well be invalidated when you let your property. We can obtain quotations for comprehensive insurance cover for let properties, including rent and legal insurance.
Proof of gas and electrical checks - You are required to provide us with certificate copies for both us the Agent and the Tenant.
EPC: You are required to provide us with an Energy Performance Certificate for the property.
Furniture: You will be required to confirm that all furnishings to be left in the property for the duration of the letting term comply with the Furniture and Furnishings (Fire) (Safety) Regulations 1998.
Appliances: You must provide us with copies of operating and safety instructions for any appliances to be left in the property for the duration of the letting term.
Location points: You must provide us with the location of any meters, stop taps, isolator switches and fuses.
Readings: You must provide us with current meter readings.
Keys: You must provide us with 3 FULL sets of keys. If, only 1 set is provided we will need to get other sets cut, at your expense.
Utility Companies: Advise us of what utility Companies you use and whether you have any contracts.
Repair: Confirm that you will keep the fabric of the building in good repair.
Finally: You must agree to notify us immediately of any relevant changes.
TAKING ANY STRESS OUT OF LETTING YOUR PROPERTY, ALLOWING YOU TO GET ON WITH LIFE !!!!
TERMS, CONDITIONS AND OTHER LEGALITIES.
Tax Implications: You must declare the rental income to the Inland Revenue. We advise you keep all invoices relating to the property for 6 years. We recommend you seek advice from a Tax Advisor.
FICO: You must inform us if you will be or are currently living overseas. If you will be or are currently living overseas it will be necessary for you to complete an NRL1 form, Exemption Certificate from the Inland Revenue. This will enable you to collect gross rent and then lodge your own tax return. Until such time that a FICO number is given by the Inland Revenue, we are compelled to deduct overseas Landlord tax at 22% from all payments made to you. However, if you are a non-tax payer you will be able to claim this back through your tax return.
Land Registry: If you are buying a property as an investment, we strongly recommend the inclusion of your own address on the Land Registry documentation in order to stop any possible frauds from taking place. Any letters from the Land Registry will automatically be sent to the second address given, as well as the property address.
Standard AST's: We will use our standard Assured Short-hold Tenancy Agreements however, if it is necessary to use any other form of Tenancy Agreement, e.g.; because your lender requires it, we reserve the right to charge an additional fee.
Utilities: You would be responsible for all utility bills when the property is empty.
Void Periods: Any package made up to suit individual Landlord requirements does not include the management of a property when it is not let. It also does not include the period before a property is let. If this is an option a Landlord wishes to include in his package an additional charge would be generated.
Deposits: If we are instructed by you to hold the deposit, we shall do so under the terms of the Tenancy Deposit Scheme. (Link).
Deposit Self-Holding Landlords: If you decide to hold the deposit yourself,. we will transfer it to you within 5 working days of receiving it. You must then register it with another Tenancy Deposit Scheme within a further 9 working days if the tenancy is an Assured Short-hold Tenancy. If you fail to do so the Tenant can take legal action against you in the County Court. The Court will make an order stating that you must pay the deposit back to the Tenant or lodge it with the Custodial Scheme which is known as the Deposit Protection Scheme. In addition further order will be made requiring you to pay compensation to the Tenant of an amount equal to 3 times the deposit. You will be unable to serve a Section 21 Notice on your Tenant until compliance with the above conditions and the Court will not grant you a possession order. We, as the Agent, have no liability for any loss suffered if you fail to comply.
Interest: LPS do not pay interest on any monies held by them. LPS do not pass on their bank charges to Landlords.
Inventory: A Tenant has a responsibility to return the property in the same condition (exceptions for general wear and tear) as they took it in or they risk losing some or all of their deposit however, if there is not a proper inventory drawn up before the commencement of the Tenancy period then it is not worth arguing over the deposit bond because the Landlord will lose.
Gas Safety Certificates: A Tenant will not be permitted to move into a property that does not have a current Landlord's Gas Safety Certificate. The annual testing of gas appliances and a gas safety check is compulsory.
Smoke Alarms: We require all properties to have a minimum of 1 operational smoke alarm per floor. We also strongly recommend a carbon monoxide detector where gas appliances are present. Ask regarding Regulations for HMOs as they do differ slightly.
Electric: Comply with the Electrical Equipment (Safety) Regulations 1994; Part P Building Regulations (01st January 2005) (Electrical Safety in Dwellings).
Repair: You must comply with Section 11 of the Landlord and Tenant Act 1985; To maintain the property in a good and Tenantable repair.
EPC: In England and Wales all buildings will need an EPC (Link) after 01st October 2008 and this includes Residential properties to let. The EPC must be available for prospective Tenants to view when they are first given written information or, they are arranging to view the property. A free of charge copy MUST be given to the actual Tenant. If a Landlord fails to produce a copy of the EPC to a Trading Standards Officer (TSO) or has failed to provide a Tenant with an EPC the TSO can issue a Penalty Notice with a charge of £200 per dwelling. In addition to this Penalty charge the Landlord will still be required to produce an EPC.
Legal Action: In the unlikely event of legal action against the Tenant becoming necessary e.g. to recover any sums due under the Tenancy or to obtain possession of the property, it will be your responsibility to instruct a Solicitor to commence proceedings. If we are required to attend Court or a Tribunal on your behalf, you may be required to pay us additional fees.
Sale Commission: If a current or previous Tenant sourced through LPS or, a member of such Tenant's immediate family should purchase the property from you either before or after committing to a Tenancy Agreement then, % of the sale price will be payable to us in commission on completion of the sale.
Service Termination: If we are unable to let your property after an initially agreed reasonable time period, you may withdraw your instructions by giving us 7days written Notice of Termination. In these circumstances we may be entitled to compensation for our costs involved in advertising and our services until the Date of Termination. If we consider that you are in breach of any Regulations relating to the property, we may give you 7days written Notice of compliance / termination. Either you/we may end the Agreement by giving not less than 2months written Notice to the other, in line with the Tenancy dates and subject to a minimum management term of 6months. If you give Notice to terminate the Agreement you must pay all monies you owe to us under the Agreement, up to the date of ending the Agreement. We reserve the right to charge for any fees due to us under the Agreement up to the earliest possible expiry date of any existing Tenancy Agreement.
Landlord Warranty: You must warrant that all the information that you have provided to us is correct to the best of your knowledge and belief. In the event that you provide incorrect information to us , which causes us to suffer loss or causes legal proceedings to be taken, you agree to reimburse and compensate us for all losses suffered.
We reserve the right to vary any of the Terms and Conditions, which appear in this Agreement, on written Notice.
Please note that all information given within the Landlord Pages are believed to be correct at the time of publishing, but we cannot accept liability for any mistakes or omissions.