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Hints and tipsWhether you’re letting or renting a property, there are some important points you should know about. The following is meant as a guide only. If you’d like more information, please feel free to contact us.
All tenancies are written as an Assured Shorthold Tenancy Agreement which normally has an initial fixed period (usually six months). This can be renewed or continue in a periodic state at the end of the fixed period.
All deposits must be protected by a regulatory scheme. Cleeve Residential Lettings use the Deposit Protection Service.
If the property is being purchased on a mortgage, or is a leasehold property, you will need to obtain permission from the lender or freeholder before letting.
The landlord must have appropriate rental buildings insurance in place for the property. If it is being let furnished, contents insurance will also be necessary.
All income from rental property is subject to UK taxation. Landlords can offset some expenses such as agents’ fees, insurance, repairs and mortgage interest against income tax.
For landlords who live abroad, we will be legally responsible for deducting income tax from the rental income unless we hold an exemption certificate from HMRC.
For properties that are let furnished, all soft furnishings must comply with the 1988 fire regulations and be labelled accordingly.
All residential properties that are advertised for rent must have an Energy Performance Certificate (EPC). This will need to be renewed every ten years.
If a property has gas appliances, it must have an appropriate gas safety certificate. This will need to be renewed every year.
There is no precise definition of what makes a property furnished or unfurnished. However, if a property is being let unfurnished it is normal to expect carpet and curtains throughout. There are no hard and fast rules about white goods; it may depend on how old they are and how rigidly they are fitted in the kitchen.
If you are leaving the property furnished, do not leave items of great monetary or sentimental value in the property.
At the start of the tenancy it’s worth having the house fully valetted, and the carpets and curtains cleaned. By leaving it in a good state of repair, you can then expect the tenant to return it to you in a similar state.
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