1. What kind of tenants would I expect to be renting my property?
A large proportion of our tenant's are professional people. There is of course a demand in all areas for student accommodation. We will seek your consent before any tenancy agreed regardless of tenant’s position.
2. How much rent could I achieve for my property?
Rentals vary greatly from property to property and area to area. Décor, size and furniture are also factors in valuing the property. To gauge the rental value of your property, we recommend for one of our experienced team members to visit your property and provide a free rental assessment.
3. What can I do to improve the rental value or the chances of finding a tenant?
Keep the property professionally clean, tidy and in good order. A clean and tidy property will not only be easier to rent, it will also mean that a fair rent is justified. Think about who you would want living there and how much rent you would like and decorate and maintain accordingly. If you decide to furnish the property, remember to allow for reasonable wear and tear on any furnishings that you provide. No matter what level you decide on, carpets and curtains (of a decent standard) must always be provided.
4. How can I be sure a tenant won't destroy my property?
Any good, honest letting agent will advise there is always a risk. It is our job to minimise that risk when letting out your property. We take every care possible utilising our extensive tenant vetting procedures for all tenants.
5. What is the inventory?
This is a document that details the condition of the property at the start of the tenancy along with any furnishing, fixtures and fittings or other contents you are leaving in the property. As a landlord, you should ensure that an up to date and suitably detailed inventory or schedule of condition is provided to the tenants at the start of each tenancy. Without a good inventory or schedule of condition, it is difficult to assess and justify any dilapidations for damage from the tenant's deposit at the end of the tenancy. My Habitat’s managed services include a detailed independent inventory.
6. What should I do about the Utility bills and notifications?
Depending on which service level you have My Habitat will inform all the utility authorities including the council tax office. You should however disconnect the telephone line and sky/cable TV. This will allow the tenant to reconnect in their own name if they wish.
7. What happens if I need my property back at short notice?
The minimum lease period is normally a 6-month assured shorthold tenancy, giving either party the option to extend thereafter. The earliest occupancy could be returned would be the end of the first lease term.
8. What if I want to lease my property long term?
The same type of lease would be used. There is no maximum time limit on an assured shorthold tenancy and this type of lease gives you, the landlord, the best protection. Signing longer leases for more than 1 year could make it difficult for possession to be recovered.
9. How do I receive my rent?
Depending on which service you have chosen My Habitat will determine how and when you receive your rent:
Tenant Find Service
You receive the first month's rent and the deposit at the start of the tenancy minus My Habitat’s fee and any other costs that are due. We then get the tenant to set up a standing order directly to your bank account.
Managed and ManagedPLUS Services
We collect the first months rent, deposit and then each month's rent thereafter. We then credit this directly to your bank account
10. Do I need to inform anybody else that I am letting the property?
You must inform and have consent from your mortgage lender and freeholder* (if you are a leaseholder or a management company). Keep any written consents safe along with any other documents regarding the property. You must also inform the insurance company and receive their consent to the tenancy. You must also advise the Inland Revenue that you are renting the property.
11. When does the tenant's deposit get returned?
An independent final inspection is carried out to ensure the property is left in good order the tenant's deposit will then be returned minus any agreed dilapidations.
12. Will my property be inspected during the tenancy?
My Habitat inspect each of our managed properties once every 12 weeks. There is an additional charge if extra visits are required. My Habitatcan provide this service with all services at an additional charge
13. Do I have to pay tax?
Yes. How much will vary on whether you are classed as a UK resident or not. The taxable amount is calculated after a series of deductions. The Inland Revenue publishes a series of leaflets which will give you more information about this (leaflets ir150 and ir87). You can find these on the Inland Revenue website or contact the Inland Revenue direct for more details.
NB There is specific rules for non-UK based landlords. These are governed by FICO (Financial Intermediaries and Claims Office). Please contact us for further details on these regulations.
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