With so much to consider and so much to do, Walton and Hipkiss (W&H) are on hand to help you make the decision that is best for you. This page gives you an insight into the legalities and responsibilities of being a landlord, as well as the service Walton and Hipkiss can offer you and your property.
HOW TO FIND A TENANT EVALUATE THE PROPERTY
Exactly how much rental should you charge per calendar month? W&H offer a free rental valuation and advise of the current market trends. We will then agree a marketing rental for the property, as well as an achievable rent figure.
GETTING READY TO ADVERTISE
In order to advertise the property you will need a good description of what the property offers, excellent photographs (not just one!), and positive advertising mediums. You will also need an Energy Performance Certificate (valid for 10 years) and a current Gas Safety Certificate (renewable every 12 months).
W & H will organise everything for you and publish professional advertising in our offices, on the Internet and in the local paper.
CONDUCTING VIEWINGS
Showing your viewers around the property can take an enormous amount of time out of your schedule.
W & H will accompany all viewings for the property on your behalf.
RESERVING THE PROPERTY
How do you know the person who wants the property is the right one? W&H conduct strict credit referencing for our tenancy applications and advise you, the landlord, of the outcome before arranging a tenancy start date.
WHEN A TENANT IS FOUND PREPARE THE PAPERWORK
All of the following needs to be prepared for the day of signing the tenancy. W&H can provide all of the following:
Tenancy Agreement:
An Assured Shorthold Tenancy Agreement will need to be prepared, with landlord and tenant details, tenancy start and end dates, details of deposit registration and the terms and conditions of the tenancy.
Inventory:
An inventory of the property needs to be prepared. This is a document containing details of the items
within and decor of the property, but most of all their condition, for example good, fair or poor and with
supporting photos.
Meter readings:
The meter readings for any relevant utilities need to be taken the day prior to the tenancy start date and
all utility companies notified of the changeover. Where the property is managed,
Walton and Hipkiss will do this on your behalf.
TENANT REFERENCING
We outsource our tenant referencing to an award-winning tenant referencing team dedicated to reducing the risk of problem tenants for landloards and agents.
The reference team will analyse the personal information held by credit reference agencies along with information from further investigations. Once all of the information has been collated a comprehensive
report is created giving an overview of your prospective tenant and a decision on how suitable they are to rent your property.
Our reference agencies utilise their size and experience within other areas of the letting industry to deliver accurate reference reports.
DAY OF SIGNING THE TENANCY AGREEMENT
On the day of signing the tenant must initial and sign both copies of the tenancy agreement which will then be sent to you, the Landlord, to also initial, sign and return to Walton and Hipkiss.
In the case of managed properties, the tenant will also be issued with: two copies of the Inventory and Schedule of Condition, the current gas safety certificate, record of utilities companies, meter readings, standing order mandate for rent payments and one full set of keys. In the case of Tenant Finding Only properties, the tenants will be issued with: the current gas safety certificate, the landlords contact details and one full set of keys. The tenant will also need to pay the first months' rent and the deposit.
POST SIGNING
All of the following needs to be completed once the tenants have signed the tenancy agreement and been issued the keys.
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Tenancy agreement posted to Landlord to initial and sign tenancy agreement ?
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Register deposit with relevant body and issue tenant with certification
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Notify utility providers of change
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Notify local council of change
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Issue receipt to tenant for monies paid
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Send Standing Order mandate to bank
ON-GOING RESPONSIBILITIES
Once the tenant has signed the agreement and been issued the keys, and all of the relevant paperwork has been completed, there will be on-going responsibilities throughout the tenancy.
These include, but are not limited to:
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Collecting rent/chasing late payments
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Issuing rental payment receipts
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Carrying out quarterly/half yearly inspections as appropriate
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Arranging contractors for any problems reported by the tenant
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Ensuring gas safety certificate is carried out every 12 months
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Preparation and issue of renewed tenancy agreements
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Rent reviews every 12 months as appropriate.
Again, W&H can undertake these responsibilities for you.
TERMINATION OF THE TENANCY
When a tenant hands in their notice to quit, or you as the landlord terminate the tenancy, again there is paperwork to prepare, end of tenancy inspections to carry out and deposits to re-imburse. Sometimes negotiation is required if damage has occurred at the property during the tenancy, and payment is
required from the deposit. W&H can do all of this for you.
STARTING ALL OVER AGAIN
When a tenant does hand in their notice to quit, should you wish to continue to rent the property out, the whole process begins again. W&H can do this for you and continue to work alongside you for the lifetime of the rental property. So, how do you move forward and make your rental property work for you? Detailed below are the Lettings Services and Packages that W&H offer, along with any extra costs. Which one
is best for you depends on you. You need to take into account the amount of time you can dedicate to the tenants and the property, how much money you might need to receive on a monthly basis from the rent paid and also what contacts you have to carry out works should anything go wrong.
