Guide to letting a property in North London

The process starts with us visiting your property to carry out an accurate rental appraisal and agree on a marketing strategy to suit your needs. Your property will be widely advertised and marketed through the following means:

• With approximately 80% of potential tenants starting their search online it is essential that your property appears in those searches. As well as our own website, which is updated daily, your property will appear on several national property portals including www.findaproperty.co.uk and www.rightmove.co.uk  
• Despite the growth of the internet local newspapers and magazines still have an important part to play in marketing your property. We run a full page colour weekly advertisement in The Enfield Advertiser
• A first class presentation of each property will be prominently displayed in our attractive window display.
• Details will be forwarded to several corporate companies with whom we enjoy established connections.

Our services are tailored to accommodate the differing needs of Landlords. You can choose either our Introductory Service or our Full Management Service. Our Full Management Service will give you the peace of mind of knowing that your property is being managed in an efficient and cost effective manner without you having to deal with any of the stressful or time consuming issues that can sometimes arise.

Whichever level of service you require you can be sure that prospective tenants are referenced thoroughly as part of our desire to find you the best possible tenant.

Letting Service - Introduction of Tenant:

• Valuation of property for rental.
• Advice on legal requirements for rental properties.
• Marketing your property at the optimum rental value.
• Arranging viewings and where possible accompanying all prospective tenants. Obtaining all relevant references.
• Advice on the preparation of an inventory and schedule of condition.
• Preparation of an Assured Shorthold Tenancy Agreement
• Collecting the first months' rent and dilapidation deposit prior to occupation. Collecting subsequent rents as and when they fall due.
• Remitting rent into Landlord's bank account.

Full Management:

• Carry out regular inspections of the property and report to the Landlord.
• Deal with all maintenance problems during the tenancy.
• Forward copies of all maintenance invoices.
• Refund the tenant's deposit on expiry of tenancy, less dilapidation deductions if applicable.

Other Information

Income Tax Liability

Under the terms of the Taxation of Income from Landlords (Non-Resident) Regulations 1995 (Finance Act 1995), while a Landlord may be considered non-resident for tax purposes they still have to pay United Kingdom income tax on rents arising in this country. An exemption certificate can be obtained from the Inland Revenue if your tax affairs are up to date.

Your Mortgage

If your property is under mortgage you are normally required to inform the lender of your intention to let out the premises. There will usually be no objection, provided there are no arrears, but there may be an administration charge payable, which will vary from lender to lender.

Insurance

The providers of your building insurance should be made aware that the property is to be tenanted. If you are letting your property furnished you may also wish to take out contents insurance. We can assist you in obtaining a quote for these policies.

Deposits

Since April 6th 2007 all deposits taken by Landlords or Letting agents must be protected under one of the three authorised schemes to comply with the terms of the Tenancy Deposit Scheme.

More information on the Tenancy Deposit Scheme

Regulations

The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (as amended)

Most new furniture is marked with a display label (a triangle with a smoking cigarette) to show that it complies with this regulation. There should also be a permanent and non-detachable label stating compliance. Bed bases and mattresses are not required to bear a permanent label but compliance will be indicated if the item has a label stating that it meets BS7177. The aim of the regulation is to improve safety by requiring all furniture and furnishings in rented properties to meet the “match test” or “cigarette test”.

The regulations apply to all upholstery and upholstered furniture and loose fittings, permanent or loose covers including: beds, mattresses, pillows, armchairs and scatter cushions.

You therefore need to replace non-confirming items or let your property on an unfurnished / part furnished basis. Carpets and curtains are not covered by the regulations.

The Gas Safety (Installation and Use) Regulations 1998

For all rental property, the regulations require that work to gas appliances and fittings shall be carried out by a competent and suitably qualified engineer who is CORGI (Council for Registered Gas Installers) registered. Furthermore gas appliances and flues in rented accommodation must be checked for safety within 12 months of being installed and thereafter at least every twelve months by a competent engineer (i.e. CORGI registered gas installer). There are further regulations concerning the fitting of new appliances which are beyond the scope of this article.

A copy of the safety check record or certificate must be given to any new tenant before the tenant occupies the premises to which the record relates.   Also, a copy of the new record must be given to each existing tenant within 28 days of the annual check.

The Electrical Equipment (Safety) Regulations 1994

The regulations state that all electrical equipment supplied is safe.   However there is little detail in the act as to what the definition of “safe” is.

The least that you need to do is to check all appliances between tenancies for obvious signs that they are unsafe such as frayed wiring or badly fitted plugs. If you are letting a property for the first time it is advisable to ensure that any electrical items supplied are new or carry or are marked with the appropriate CE symbol. The Regulations require that any equipment supplied in the EEC after 9th January 1995 shall be marked with the appropriate CE symbol

Where the safe use of the equipment relies upon the user being aware of any particular characteristic the information should be provided, normally in the form of an instruction book.