We offer a comprehensive service, letting and managing quality properties at all levels of the market. Whether you are an individual home owner looking to rent your property to a like-minded tenant, or an investment landlord wanting to optimise your capital returns,we will structure our letting and management service to suit your needs. With an excellent range of contacts and close working relationship with other agents, we can count many of the world’s leading corporations amongst our tenants. From introducing a tenant and negotiation terms to drawing up contracts and obtaining solid references, we will ensure that at all stages the letting process runs smoothly.
Assured Shorthold Agreement:
This Agreement is governed by the Housing Act of 1988 and the Amendment if this Act which was introduced in February 1997. It is used when a Property is let to an Individual(s) and the rental does not exceed £100,000 per annum.
Contractual Tenancy Agreement:
This Agreement is used for all other tenancies that are not governed by the above Act, for both individual and company lets.
A deposit is taken from the Tenant (usually six weeks rental) to cover any dilapidations that may occur and this is held with the D.P.S (Deposit Protection Service).
This is a very important part of the letting process. We would strongly recommend that a professional inventory clerk be appointed to prepare an inventory of the property. This will then be checked and agreed by both parties at the commencement and termination of the tenancy. Once the inventory check-out has taken place, a schedule of dilapidations will be sent to both Landlord and Tenant for them to determine what deductions (if any) should be made from the deposit held. If the property is managed by HLR we will deal with all aspects of the dilapidations and will liaise with both parties until agreement is reached.
Tax for Overseas Landlords
We are no longer required to withhold basic rate tax on rental for overseas Landlords since the introduction of Self Assessment provided written consent is received by HLR from the Inland Revenue. If you are not eligible for Self Assessment, we will continue to withhold basic rate tax of 23% which will be paid to the Inland Revenue on a quarterly basis. Professional advice should be obtained.
Landlords are responsible for both building insurance and their own comprehensive contents insurance during the term of the tenancy. The insurance company must be informed that the property is rented, giving all the relevant details.
All relevant consents must be obtained in writing to sub-let your property. These include mortgage consent if applicable and consents from the head lessors or in the case of as leasehold property, the freeholder.
Prior to Letting
The Landlord must ensure that the property is professionally cleaned throughout. All machines, appliances and heating/water systems should be in complete working order and recently serviced. (See attached “Regulations” below). Clear instructions for use must be left. Carpets, curtains and upholstery should be professionally cleaned together with all linens, towels, blankets/duvets. Windows should be cleaned inside and out and gardens well maintained. HLR reserve the right to instruct professional cleaners on behalf of the Landlord, if they deem it necessary, without prior consent.
The following regulations now apply. Your property must now comply with these regulations at the commencement of the first tenancy as it is a criminal offense not to do so.
Gas Safety (Installation and Use) Regulations 1998
As from 31 October 1194 all Landlords must ensure that all gas appliances are serviced and maintained by a CORGI certified installer. This service and maintenance must be carried out at least once every 12 months. Moreover, a record of safety checks must be kept and any defects identified must be remedied as soon as practicable. Failure to carry out such obligations under law could result in a £5,000 fine.
The Furniture and Furnishings (Fire) (Safety) Regulations 1988
and The Furniture and Furnishings (Fire) (Safety) (Amendment) Regulations 1993
This piece of legislation states that all Landlords must ensure that any furnishings included in their rental properties are fully fire retardant (“Furnishings” will be seen to include: upholstery, upholstered furnishings, loose fittings, permanent or loose covers, beds, headboards, mattresses, pillows and cushions – not curtains or carpets).
Furniture made pre 1950 is exempt from these regulations and furniture made and supplied after March 1990 is likely to have been constructed to comply with the fire safety regulations.
Failure to comply with these Regulations could result in a fine (up to £5,000) or six months imprisonment.
The Regulations place responsibility on the Landlord for ensuring that the Property complies. For this reason it is necessary for the Landlord to warrant that the Property complies or to instruct the Managing Agent to authorise the completion of a check of the contents at the Landlord’s expense. A full copy of the Regulations is available from the Managing Agent on request.