Eadon Lockwood & Riddle, Sheffield

In this last COUPLE OF YEARS there have been several measures introduced again regarding new regulations. Such as, the energy efficiency rules along with smoke and CO alarms, will all mean extra work for landlords.

One option to consider for those self-managing landlords is to use a SPECIALIST letting agent such as ELR. It will cost you in terms of fees but the freedom may be worth it, and fees are a tax deductible expense.

We are members of one of the main professional association Propertymark ARLA.

Offering our Full Managed Service too of which is second to none.

• Lettings appraisal

• Marketing on the internet: www.elr.co.uk, www.rightmove.co.uk, www.onthemarket.com and social media.

• Database of "waiting" qualified tenants

• Accompanied viewings

• Tenant referencing - clear, concise and acurate - including Credit Checks, previous landlord, employment and right to rent

• Inventory (schedule of condition report for the property)

• Optional Rent Guarantee Scheme - through our referencing company

• The preparation of the Tenancy Agreement and all the required Notices

• Deposit collection and registration

• Ongoing collection of rent and payment into your bank account

• Monthly statements of income and expenditure - via post or email

• Arranging routine repairs and maintenance (subject to float account)

• Regular property visits

• Tenant check out

• Deposit negotiations (if any) at the termination of the tenancy

Another safeguard that ELR will give our landlords and their properties is the right attention with us being a smaller agency. A smaller agency allows landlords to truly build relationships with the company as ELR personally manage and take care of their investments from the outset.

Even before a tenant is found, the landlord's duties are lessened as ELR are in charge of and fully responsible for all legal precautions. The relevant safety checks are taken care of such as

If you have any queries or questions please do not hesitate to call one of the lettings team on 0114 268 9900

We will be happy to help!

Finding the right tenant for you is absolutely crucial! This is where our own high standards and tenant vetting experience comes to the fore! We ask for a lot of information before the tenant even gets to see the property. Below is a sample list of questions we will be asking before a viewing is made: • Are you in full time employment? • Do you have any pets? • Do you smoke? (all our tenancies have no smoking clauses!) • In which area do you want to live? • How many bedrooms do you want? • What's the maximum rent your looking to spend? • How quickly are you looking to move?

Most people when viewing properties to let will be viewing

others, so the condition and appearance will affect not

only the rental value but the speed in which it is let.

Never underestimate the value of first impressions!!

In general:

• Decorations should be light, modern and preferably

neutral - your prospective tenants want to feel they can

move their furniture and belongings into a property and

feel comfortable and at home. Be prepared to redecorate

as necessary.

• Carpets and floor coverings need to clean and neutral.

• Kitchens and bathrooms should be clean, well presented

and preferably modern. White bathroom suites are always

a winner! / Preferred choice.

• If you are furnishing the property, make sure it is simple

and neat.

• Gardens should be seasonally neat and tidy and

easily maintained.

www.elr.

Energy Performance Certificate (EPC)

An EPC must be made available whilst your property is

being advertised for let. This certificate shows the current

and potential energy rating. An EPC is valid for 10 years for

a rental property.

Gas Safety Certificates

The Gas Safety (Installation and Use) Regulations 1998

It is a legal requirement that every gas appliance and gas

central heating system has to be inspected on an annual

basis and a landlord safety certificate issued by a GAS

SAFE (formerly CORGI) engineer. ELR can arrange for

this inspection to be carried out. We must hold a valid

certificate on file for every property.

Electrical Safety Checks

The Electrical Equipment (Safety) Regulations 1994,

and the Plugs and Sockets etc. (Safety) Regulations 1994

It is important to ensure that all electrical appliances and

fittings within the property are safe and in good working

order. Unlike gas regulations, there is no law that says

you must have a landlord electrical safety certificate.

But, should any electrical fittings or appliances within

your rental property cause harm to a tenant you could

be held liable.

Smoke Detectors

Properties built after June 1992 must have mains operated

smoke detectors fitted on each floor.

Although there is no legislation requiring smoke detectors

to be fitted in ordinary tenanted properties, it is generally

considered the common law "duty of care" meaning that

the landlord could be held liable should a fire cause injury

where no smoke detectors are fitted. We therefore strongly

recommend that landlords fit one smoke alarm on

each floor.

The Furniture and Furnishings (Fire) (Safety)

Regulations 1988

All furniture or furnishings that you supply with a furnished

house when you let it out have to be clearly marked

with a label showing that they meet all of the necessary

standards. All new furniture that is subject to the law

should come with a label already attached, but over time,

safety labels can be lost, removed or damaged. It doesn't

matter if they originally complied or not, you must be able

to demonstrate this with the safety label. If you rent out the

property after the labels have been lost, you should either

have the furniture re-tested or replace it.

Insurance

You are responsible for insuring the buildings and contents

YOU leave in the property - the tenant will insure their own

contents. We can prepare you a quotation for buildings

and contents insurance, please ask a member

of staff for details and further information.

Tax

income received from renting any property is subject to

tax (we strongly recommend that you take advice from

An independent tax accountant). You are responsible for

paying your own income tax and declaring rental income

to the tax office.

Where a landlord resides overseas for more than 6

months of the year a landlord must apply for an exemption

certificate from the Inland Revenue (NRL1 form), a copy

of the exemption certificate must be held by ourselves.

If we do not hold an exemption certificate we are required

to pay the inland revenue the relevant rate of tax applied

without a deduction (currently at 20%). You may still be

held liable for taxation. ELR HMRC number is NA010420

you will need this for the NRL1 form.

Empty Property