A LANDLORD’S GUIDE TO LETTING IN PRIME CENTRAL LONDON
- A good agent will be able to provide you with advice regarding the presentation of your property, discuss recent lettings of similar properties and the requirements of prospective tenants currently looking for property to rent, all with the aim of securing a letting to a suitable tenant at a good rental.
- PRIMECASA will arrange for floor plans and photographs of your property to be produced and upload the particulars to all the main property websites as well as our own.
- All of our prospective tenants are registered on our database, so we are able to immediately notify them of new properties.
The lettings industry is regulated by significant legislation protecting both landlords and tenants.
- Energy Performance Certificate
- Before placing the property on the market, an Energy Performance Certificate must be produced.
Gas Safety Certificate
- A gas safety inspection must be carried out annually by a Gas Safe qualified engineer on all gas appliances, installations and pipes and is required before the start of any tenancy.
Electrical Equipment Safety Certificate
- This is not required by law but it is the landlord’s responsibility to make sure all wiring and electrical appliances are safe. For properties that we manage we will organise a Periodic Inspection Report (PIR) to be carried out on behalf of our landlords. For all properties let (not managed) we recommend the minimum test carried out is a Portable Appliance Test (PAT) for appliances.
- It is important that a professional inventory clerk is appointed to record the condition of a property prior to a tenant moving in, particularly now that there is a requirement to register the deposit with a deposit protection scheme. The report will include photographs as evidence of condition.
Non resident landlords
- Income from the letting of property in the UK is subject to UK Income Tax.
- As a landlord you will be taxed on the rental income and by appointing an accountant you can offset some expenses, like agent’s fees and mortgage interest, in order to minimise your tax bill. For overseas landlords the Inland Revenue will require you to apply for a Certificate to enable rent payments to be transferred to you without a tax reserve being held by the agent.
- Many of our landlords choose to appoint us to manage their properties. This means our team will be responsible for the day to day management of your property, to include repairs and utilities as well as dealing with the deposit at the end of the tenancy. We will also arrange periodic inspections to check your tenant is taking good care of the property and address any maintenance problems before they become serious issues.
A well presented property is the key to attracting a tenant and will maximise its rental potential:
Exteriors & Interiors
Ensure the exterior, as well as the interior of the building is in good order and repair.
- We will get our builders in to get a light touch on the property to ensure everything is up to date. Our team will make sure everything is fully working in the property to the last detail possbile.
- Test the appliances are clean and in working order, ensure instruction manuals are kept in a folder in the property, to include clear instructions on the heating system.
- All light bulbs should be working and additional lighting is provided for winter viewings. When cold, keep the heating on to give a warm welcome.
Cleanliness is next to godliness
- Professional cleaning of the property after each tenancy is a must and should include carpets, blinds, curtains, soft furnishings and windows inside and out. Keeping the property spotlessly clean is important when the property is vacant and viewings are taking place.
Keep the common parts tidy by collecting junk mail and removing rubbish.
Landlords’ items to be removed prior to the start of a tenancy should be labelled so these are evident when a viewing takes place.