PREPARING YOUR PROPERTY TO LETOur team can advise on how to present your property to maximise its attractiveness to proposed tenants and rental potential. Our experienced valuer will prepare a free market valuation report showing you the achievable rent. We will also advise you on the legal requirements needed.
- Obtaining a PAT & EIC report.
- Obtaining a gas safe certificate.
- Obtaining an energy performance certificate.
- If required, obtaining a Landlord Licence.
- Advice on any necessary repairs needed to prepare the property for letting.
- Advice on the necessity and benefit of a properly prepared Inventory.
- Installing smoke and carbon monoxide alarms.
the necessary consent from:
- Joint owners
- Mortgage Lenders
- Superior landlord
- Or someone holding a charge against the property
Where appropriate, make landlord aware of the Finance Act 1995 and the special rules relating to the deduction of tax from rental income.ADVERTISING YOUR PROPERTY
You will be sent the draft property details and pictures for your approval before we upload the advert to our website, Rightmove, Zoopla and Primelocation sites. We immediately email details of your property to prospective tenants registered on our database.
We attend all viewings and give you feedback on every viewing and any offers made.
Once an offer is made we will negotiate the best rent for you. Once accepted we move on to the next phase.
We carry out a full referencing check on all prospective tenants and their guarantors. We obtain the following documentation:
As a guide we will be looking to see if the annual income is at least 2.5 times the monthly rent. If it is below this income threshold, we will look to see if the landlord will accept a guarantor or require payment of a few months’ rent in advance and/or a higher security deposit. The guarantor will be required to produce the same documentation as the prospective tenant. The annual income must be at least 3 times the monthly rent.
- Proof of ID: eg Passport, EE Member State Identity Card or photo diving licence
- Proof of Address: eg Council Tax bill, utility bills
- 3-6 months’ bank/building society statements
- 3-6 months’ salary slips
- If self-employed a letter from their accountant verifying their income. This must be on headed paper stating year to date income and income projection for the year. This must be signed by the accountant.
Right to rent check
This is to prove that the tenant has a right to live in the UK. By providing a passport/EE card and relevant UK visa. We are required to check these documents in the tenant’s presence and take copies for our file.
We will write to the current employer to verify their employment status. The employer must confirm the start date, annual salary and position held.
Previous landlord reference:
This will be requested from the current landlord and/or managing agent.
Once the references are taken a report will be sent to you outlining the results.
If the references are satisfactory we can then move towards an agreed move in date. We would have discussed this at the beginning of this process and agreed a provisional move in date that is suitable for both you and the tenant.
Leading up to the moving in date
A draft of the tenancy agreement will be sent to the tenant and yourself prior to signing, so you have the opportunity to raise any questions before signing.
Once the tenant pays the security deposit, initial rent, any other fees and signs the tenancy agreement, we are ready to move in. If you are managing the property yourself, the tenant/s will be given your full contact details. If we are managing the property then we will deal with any questions regarding maintenance, rent and the tenancy agreement.
Moving in Date
A check in clerk will meet the tenant at the property to hand over the keys and prepare an inventory. This is carried out by a third-party company. A copy of the report will be sent to you within 7 working days. Any queries must be raised with us within 7 days otherwise the tenant is deemed to accept its contents.
BELOW IS AN OUTLINE OF OUR:
Standard management service
Letting only service
Letting only service plus deposit protection
Letting only service plus rent collection
STANDARD MANAGEMENT SERVICE
Stennett Properties provides a property management service to owners wishing to let out their property. Below is an outline of our management services.
LETTING ONLY SERVICE:
- Advising as to the likely rental income.
- Advertising and marketing the Property.
- Taking up full references including bank reference, and employer or previous landlord character reference or obtaining reference checks through a third party referencing supplier. Where necessary, additional security would be requested by means of a guarantor. In cases where a company occupies as the tenant, a full bank reference or credit check would be taken.
- Providing a suitable tenancy agreement for the Property.
- Liaising with a Landlord's mortgagees where necessary with regard to references and tenancy agreement.
- Carrying out the initial right to rent checks in accordance with the Immigration Act 2014.
- Taking a deposit from the Tenant, dealing with this deposit under the requirements of the Tenancy Deposit Scheme until the end of the tenancy when the Property and contents have been checked for unfair wear and tear and handling any termination issues with the Tenant and the tenancy deposit scheme provider.
- Collecting the Rent monthly and paying over to the Landlord monthly (normally sent within 15 days of collection) less any fees or expenses due or incurred for the period. Payments will be made by direct bank transfer and a detailed rent statement will be forwarded to the Landlord.
- Arranging with service companies (principally electricity, gas & water) for meter readings and advising them of the transfer of service contracts to the Tenant at the beginning of each tenancy.
- Regular inspections of the Property are carried out on a 6-monthly basis, after the first inspection has been carried out three months into the start of the tenancy. Responsibility for and management of an empty property is not normally included and will only be carried out by special arrangement agreed in writing between the Landlord and the Agent.
- Co-ordination of repair or maintenance including arranging for tradesmen to attend the Property and obtaining estimates where necessary, supervising works and settling accounts from rents received.
- Making payments on behalf of the Landlord from rents received for costs in managing the Property.
- Carrying out a full property inspection and inventory check at the end of the tenancy and, if necessary, preparing and agreeing a schedule of costs relating to any damage or unfair wear and tear prior to releasing the Deposit.
Where the Landlord does not wish the Agent to undertake full management (the Standard Management Service), the Agent can provide a Letting Only Service. The Letting Only Service includes only items 1 to 6 of the Standard Management Service as listed above. The Landlord would remain responsible for all other aspects of the letting including the maintenance of the Property and any gas and electrical appliances. The Landlord would remain responsible for complying with the Deposit protection requirements of the Housing Act 2004 and must provide the Agent with written confirmation of this together with a receipt for the Deposit monies received by the Agent on his behalf. The Letting Only Service Fee is payable at the commencement of the tenancy and will be deducted from monies received by the Agent on the Landlord's behalf. If the Tenant leaves prior to the end of the term of the tenancy the Landlord shall not be entitled to reimbursement of any fees paid.
LETTING ONLY SERVICE PLUS DEPOSIT PROTECTION:
Where the Landlord requires the Agent to deal with his legal responsibilities for the protection of tenancy deposits under the Housing Act 2004 (item 7 of the Standard Management Service) then the Tenancy Deposit Service Fee will be charged in addition to the Letting Only Service Fee. The Landlord must indemnify the Agent for any losses suffered by the Agent as a result of the Landlord’s failure to comply with the Deposit protection requirements of the Housing Act 2004.
LETTING ONLY PLUS RENT COLLECTION SERVICE:
Where the Landlord requires the collection of rents and the deposit service (items 7 & 8 only of the Standard Management Service as listed above) in addition to the Letting Only Service, then the Letting and Rent Collection Fee will be charged and will be deducted from rents collected.