Rayners' guide for landlords

I want to let my property, where do I start?

Letting a property can be a daunting process. There are many factors to consider to ensure that you will have a successful, legal and secure arrangement. We would recommend using a professional agency, like ourselves, for complete peace of mind.

How should I prepare my property?

You should ensure that the property is clean and tidy. Repair any damaged decoration and make sure that any furniture that will stay in the property (if you are letting the property furnished) is in good order. You will need a Gas Safety Certificate, renewed annually (which we can arrange) and any soft furnishings supplied must be fire retardant. Electrical goods should be in good working order and checked to ensure that they are safe. You should replace any defective plugs and fraying flexes. You will need to arrange an Energy Performance Certificate for the property. Rayners can arrange this for you.

Preparing an inventory

You will need an inventory of all items that you will leave in the property for the tenant's use. This includes furniture, electrical items, crockery, cutlery etc. Critically the condition of each item should be noted so that, in the event of any damage caused by the tenant, monies can be reclaimed in compensation. Rayners can prepare a photographic inventory for you for free as part of our Full Management Package, or as a separate item, at a cost of £150.00 plus VAT.

Finding the Right Tenant

Rayners search for the right tenant will include:

• Local newspaper advertising
• Window display feature
• Publishing on our web site and associated internet sites
• Property mailings
• Erection of 'To Let' boards on the property
• We will telephone would be tenants whom we have on file
• Your property will be offered to personal callers at our offices

What security do I need?

Once we have found a suitable tenant for your property, we will interview them personally and take up references from a previous landlord or employer (where applicable). We will make enquiries as to their capabilities to pay the rent regularly and collect a damage deposit . The damage deposit is usually one month's rent but can be individually negotiated (for example if there are expensive items left in the property). The deposit could also cover loss of rent in the event of the tenant moving out before the end of the agreement, or cleaning/repairs that may be necessary at the end of the tenure. All deposits taken are safely held in the Tenancy Deposit Scheme. This leaflet explains how the scheme works. We will also collect the first month's rent in advance.

Will I need a contract?

In order to protect yourself and your property, you should always secure the let with a tenancy agreement. Whilst there are different types of agreement you can enter in to, Rayners recommend an Assured Shorthold Tenancy. This type of agreement ensures that possession is guaranteed and repossession (if necessary) is easier to obtain.

How Do I get my Rent?

If you instruct Rayners to let your property and choose either our Full Management or Rent Collection package, a cheque and statement of account will be sent to you monthly after deduction of our charges. Alternatively we can transfer the funds directly to a designated bank account.

Repairs and upkeep

Whilst the tenant is liable for any repairs or replacements for damage caused, it is the landlords responsibility to arrange and pay for repairs to items and services that occur through normal wear and tear. Specifically:

• Structure of building
• Decor
• Plumbing and services
• Furniture
• Light fittings and electrical appliances

As part of our Full Management Package, Rayners will find and instruct local, trusted tradesmen to carry out repairs once the landlord has agreed the cost. The tenant is responsible for:

• The garden
• Any consumable items (lightbulbs etc)
• Damaged decor (where the tenant has caused the damage)
• Any decoration they decide to undertake to improve the property

Who pays for what?

This can be negotiated but we would recommend the following structure:

Landlord

• Mortgage (if applicable)
• Rayners Fees
• Property Repairs
• Service Charges (where applicable)
• H.P on any property in the home (where applicable)
• Maintenance on decor

Tenant

• Rent
• Council Tax
• Electricity
• Water Rates
• Gas
• Phone
• Wilful Damage

What else should I know?

If the property is mortgaged (and not subject to a buy to let agreement) you will need written permission from your lender to let the property. Tax is levied on any profit you make letting the property after deductions for repairs, depreciation, insurances etc. You are advised to speak to an accountant regarding your tax position. In the case of landlords living abroad, Rayners will deduct tax from the net rent until we receive a waiver from the Inland Revenue. The Housing Act of 1996 means that repossession of the property - for example for owner occupation or if there are rent arrears - is a relatively simple process. You will however have to make an application to the court. Rayners can carry this out for you at a cost of £150 plus VAT. You should ensure that the buildings are adequately insured. We advise landlords to notify their insurance company that the property is let.