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Landlords Guide

If you are a landlord with a property to let or wanting to buy a home, we are here to help. You can expect a reliable, professional service from us, covering all areas of property management and maintenance

Why Choose Us?

Our knowledge and experience of the London Property Market is second to none and you can be assured that you will get the best return on your investment. As the residential property experts acting on your behalf, we offer:

  • A friendly and professional service
  • Excellent accompanied viewing facility
  • Timely collection and forwarding of the rental payments
  • No Letting No Fee
  • Evening and weekend appointments

As an independent and competitive estate agency, we specialise in the provision of a range of services including Sales, Rentals, Let Only, Property Management, Repairs and Maintenance, and the Guaranteed Rent Schemes. We offer a set of packages at a low cost and a competitive percentage rate. Services are negotiable depending on which of the provisions you select.

Let only

With the let only service, we would not be responsible for the ongoing management of the property or if any party is in breach of terms and conditions.

This form of service will provide you with the following benefits:

  • An open, honest and realistic assessment of rental valuation of your property
  • Local and national marketing, including a 'To Let' board displayed outside the property
  • Showing the prospective tenants around
  • Free advice and consultation on the presentation and preparation of your property
  • Referencing of prospective tenants using an independent referencing company
  • Production of the tenancy agreement
  • Organizing Gas Safety Certificate, and Electrical Testing, if required
  • Advice on insurance, i.e. rental guarantee, fire and contents

Property Management

Our priority is always to make life easier for the landlords and the only way to achieve this is to make sure that your property is in good condition and well-managed. At the N16, we manage your property in such a way as to make life easier for you. We send one of our team members to check up on the maintenance needs and, unless the matter is serious, we do not contact the landlord

Full management

In addition to the let only service we will provide:

  • Inventory / schedule of condition options.
  • Collection of rent from the tenants
  • Inspecting the property
  • Liaising with the tenant on the landlord's behalf over the whole range of property issues.
  • Organising and managing other property administration.
  • Provide access to contractor networks that are compliant and regulated.
  • Organising and managing other property administration.
  • Re-letting the property unless otherwise instructed by the landlord

Guaranteed Rent Scheme

In addition to finding a suitable tenant for your property, we also commit to guaranteeing that your rent is paid on time regardless of whether the property is occupied or vacant and whether the tenant is in arrears or not

Choosing Furnished Or Unfurnished?

Properties can be let either furnished or unfurnished. If you do let a property furnished all the essentials will be expected such as wardrobes, beds, sofas and dining table and chairs. Wear and tear on the property and any items provided are unavoidable.

We will advise you on choosing on whether your property should be furnish or unfurnished. If you chose furnished we will advise you on the amount of furnisher which is suitable depending on the property and market.

Providing decent quality curtains, carpets and light fittings is the minimal you need to supply for an unfurnished property.

Presentation And Preparation Of The Property

We advise and guide our landlords on the presentation of their property. The presentation plays an important role in how fast your property finds a tenant and the level of rent achieved. To help a rental property appeal to a wider market, we would suggest the following:

Below are some tips on making your property appeal to the widest market:

  • Fresh decorations light colours, such as white or off white are generally preferred.
  • A modern and well equipped kitchen. If space permits, ideally, there should be a washing machine and separate tumble dryer or washer/dryer, dishwasher, fridge/freezer and microwave. All equipments must be in good working order. Everything including the boiler should be serviced before the start of the tenancy. If you have instruction booklets, make them available, if not, it is advisable to leave clear written instructions on how to use appliances.
  • Garden should be left neat, well maintained, without any discarded items littering them and any lawns should be cut. Tenants are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools.
  • Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those which are of real or sentimental value.
  • Sealant and grouting should be clean, cupboard hinges sound and work surfaces in good order. Any mould issues or minor issues can really effect a prospective tenant's decision to rent the property.
  • Double glazing, an efficient Central heating system and plenty of hot water is preferable amongst prospective tenants.
  • Keep the windows clean, inside and out. Dirty windows and grubby net curtains exclude light and gives a depressing and uncared-for impression.
  • Keep clean all kitchen appliances including hob, grill, oven, microwave, shelving, rubber seals, dishwasher, extractor hood, fridge and freezer.
  • Any thing damaged with the property you should try your best to find and fix the damage.

Valuation

We will spend some time looking round your property to assess its rental value and advise you on the level of rent you are likely to achieve letting your property. At this point we will answer any questions you may have and determine the most suitable service to meet your requirements. We will also advise you on your responsibility to your mortgagees (if you have one) before letting the property prior to tenants taking a lease, security, health and safety, insurance and tax documentation (where appropriate). We will also be able to discuss with you any work that may potentially increase the rental value of your property prior to letting. Our advice at this point is completely free and before you can let your property we make sure you have a firm understanding of all your legal obligations, responsibilities and rights before proceeding to let your property.

Advertising Your Property

Empty properties generate zero rent, so we act fast to generate interest and get you a new tenant. As soon as you have decided to appoint us as your agent, we arrange an appointment to visit your property in order to take some internal and external photographs. From then on your property will be marketed in the followings ways.

  • Advertising & Marketing your property on our State of the Art website
  • UK's leading property portals
  • emailing and sms message details to all potential applicants
  • newspaper advertising where appropriate.

Inventory, Paperwork And Tenant Assessment Checks

The tenant assessment checks for example whether the applicant has CCJs, bankruptcy orders or voluntary arrangements and a risk score of 0-99, predicting the applicant's likelihood to pay. Tenant assessment checks are absolutely crucial to help you find the ideal tennat for your investment in time and money.

Before the tenancy starts, all necessary legal paperwork including an inventory will be prepared to provide a detailed schedule of the contents and their condition and the condition of the premises. The purpose of the inventory is a very important document because it protects both Tenant and Landlord from disagreements about these matters at the end of the Tenancy. Also any outstanding balances are settled by the tenant before the tenancy commences.

Keys

You should provide one set of keys for each property. Where we will be managing we will arrange to have duplicates cut as required

Energy Performance Certificate

Energy Performance Certificate Newcastle (EPCs) were introduced in England and Wales on 1 August 2007 as part of Home Information Packs (HIPS) for domestic properties with four or more bedrooms. Energy Performance Certificates are regulated by the Energy Performance of Buildings (Certificates and Inspections) Department and are required by law. The requirement for HIPs was removed in 2010 but the requirement for EPCs remained.

energy performance certificate

Consent To Let

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 sub letting.

Electrical Safety Requirements

Insurers often insist on landlords having an electrical inspection and certificate though there is currently no legal requirement.

Landlords must make sure the electrical system (eg sockets and light fittings) are safe and all appliances they supply (eg cookers, kettles) are safe.

All electrical inspections and certification should be done by a qualified electrician who is registered with the National Inspection Council for Electrical Installers and Contractors (NICEIC).

nic eic approved

There are two main types of electrical inspection and certification:

  • The Periodic Inspection Report
  • Portable Appliance Testing (PAT)

Gas Safety Requirements

Landlords have a legal responsibilities to their tenants to ensure a gas safety check is carried out within 12 months of the installation of a new appliance or flue which you provide and annually thereafter by a Gas Safe Registered engineer.

Landlords must provide an annual gas safety check to their tenants within 28 days of the check being completed or to new tenants before they move in. Landlords must keep hold of the copies of the gas safety record for up to two years.

gas safe register

Fire Safety Requirements

The Furniture and Furnishings (Fire Safety) Regulations 1988 (as amended in 1989, 1993 and 2010) set levels of fire resistance for domestic upholstered furniture, furnishings and other products containing upholstery.

The items required to comply to Furniture and Furnishings (Fire Safety) Regulations 1988 must display labelling to indicate the ignition resistance of each item of furniture, with the exception of mattresses, seat pads, pillows, bed-bases, scatter cushions, loose covers (sold separately from the furniture) and stretch covers.

Items Requiring To Comply Are

  • Furniture intended for private use in a dwelling, including children’s furniture.
  • Sofa-beds, futons and other convertibles. Furniture in new caravans.
  • Nursery furniture.
  • Garden furniture which is suitable for use in a dwelling.
  • Beds, head-boards of beds, mattresses (of any size).
  • Scatter cushions and seat pads.
  • Pillows.

Items Not Required To Comply

  • Antique furniture or furniture manufactured before 1950.
  • Bed clothes and duvets Curtains.
  • Carpets Sleeping bags.
  • Pillowcases.
  • Loose mattress covers

Smoke Alarms And Carbon Monoxide

The 1991 Building Regulations require that all properties built since June 1992 must be fitted with mains operated interlinked smoke detectors/alarms on each floor. Such regulations regarding older properties do not exist but we strongly recommend that smoke alarms are fitted in all let properties and are regularly checked to ensure they are in full working order.

If you are a landlord and you own a House in Multiple Occupation (HMO), you may need a HMO licence. A HMO is a building or a part of a building (such as a flat) that is occupied by more than two persons living as more than one household. Not all HMOs need to be licensed, for further information on houses in multiple occupation and how this may effect you as a landlord, please speak to one of our representatives.

To protect tenants in HMOs from poor conditions, the government regulates:

  • The quality of the accommodation
  • That you or your representatives are suitable to manage a HMO
  • That you do not have too many people living in your HMO
  • That HMOs considered high-risk are monitored.

The HMO licensing team deals with all aspects of HMO licensing such as:

  • Helping you through the application process
  • Assisting with any events after your licence is issued, for example if you wish to vary the terms and conditions of the licence to increase the permitted number of tenants, or to change the people names on the original application
  • Helping you to renew your licence when the old one is due to expire.

The Non-Resident Landlords (NRL) Scheme is a scheme for taxing the UK rental income of non-resident landlords.

The scheme requires UK letting agents to deduct basic rate tax from any rent they collect for non-resident landlords. If non-resident landlords don't have UK letting agents acting for them, and the rent is more than £100 a week, their tenants must deduct the tax. When working out the amount to tax the letting agent/tenant can take off deductible expenses.

Letting agents and/or tenants don't have to deduct tax if HM Revenue & Customs (HMRC) tells them not to HMRC will tell an agent/tenant not to deduct tax if non-resident landlords have successfully applied for approval to receive rents with no tax deducted. But even though the rent may be paid with no tax deducted, it remains liable to UK tax. So non-resident landlords must include it in any tax return HMRC sends them.

Non-resident landlords who are eligible can apply at any time for approval to receive their UK rental income with no tax deducted. This includes applying before they have left the UK or before the letting has started.

Below is a brief summary of the service we can provide for non-resident landlords.

If you are preparing for leaving the UK:

  • Deal with form NRL1 - Application for exemption from the non-resident landlord tax scheme
  • Failure to obtain an exemption will result in tax deductions being made at source
  • Apply for the Inspector's agreement to your residence position, which will determine the extent of your UK tax exposure, and review your circumstances to highlight areas where tax savings may be made

When you are abroad:

  • Correspond with your letting agent to obtain details of rent received together with expenses paid
  • Prepare the necessary sections of the UK self-assessment tax return form. In all cases this will include the land and property module. Where the property is owned jointly, a tax return will be needed for each owner
  • Calculate your tax liability and agree this with the Inspector of Taxes
  • Notify you of payments on account required by the Inland Revenue and advise you if a reduction should be made

If you plan to return to the UK we shall:

  • Complete a full review of your tax position and advise you of any measures you need to take prior to your return to the UK to mitigate any potential tax liabilities
  • Correspond with the Inspector to ensure that you are provided with your full entitlement of allowances on your return

Landlords Fees

Sole Agent %1.25 + VAT

Multi Agent %2 + VAT

EPC: £70.00

EPC and floor plan: £ 90.00

Landlord fees for letting and management

Let Only %7 + VAT (finding tenant)

Let Only & Rent Collection %9 + VAT

Fully Management % 11 + VAT

EPC: £70.00

EPC and Floor Plan: £ 90.00