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Letting a property with Parkheath EstatesYou Are Here: Hertfordshire Estate Agents > Letting a property with Parkheath Estates Letting your house or flat needn’t be complicated, and Parkheath Estates can offer you solid, professional advice based on many years of experience in the business. As a premier letting agency, with offices in Watford, Rickmansworth and Chorleywood we are known for our meticulous care and attention to detail. This guide will help you achieve the best rental income for your property, and additionally outlines the property management options available to landlords seeking this service. We look forward to helping you. ValuationGetting your property ready to marketViewingsFinding the right tenantsTenancy agreements and inventoryHousing Act LegislationSecurity DepositInventorySafety RegulationsInsurancesTaxesHead LeaseMortgageRentLet us take the stress out of managing your investment… ValuationThe first step to letting your property through Parkheath Estates is contacting us for a free valuation. You can either:
Getting your property ready to marketThe preparation that you put into your property in order for it to be ready for rental can make all the difference to how long the house or flat is on the market, as the condition of a property is one of the main factors potential tenants will be considering. A well presented property will let more easily and it is best to ensure that it is put on the market in a good decorative state. We strongly recommend that the property be professionally cleaned, and can recommend cleaning companies if required. With regard to utilities and connection/disconnection of services, please liaise with Parkheath on these matters. ViewingsParkheath's extended opening hours mean that viewings are conducted by our negotiators from:
Finding the right tenantsParkheath Estates will take care of the marketing of your property using up-to-the minute techniques by text message, email and various internet sites, alongside traditional methods of telephone and post. We will endeavour to find you high quality tenants and will provide you with references for each tenant (and guarantor/s if applicable) prior to the commencement of the tenancy. If you have objections to tenants who smoke, have pets or children, please notify us prior to marketing. It is advisable, however, to consider all prospective tenants and cover yourself by inserting the relevant clauses into your tenancy agreement. Parkheath Estates will advise you on this. Tenancy agreements and inventoryOnce the right tenants have been found, we will organise up the necessary legal documentation to proceed with the letting of your property. A Tenancy Agreement is a legally binding contract between a Landlord and a Tenant that sets out both the legal and contractual responsibilities and obligations of both parties . We advise that a professional detailed inventory is prepared at this time. Housing Act LegislationLettings legislation does change from time to time and it is very important to ensure that your letting agent is fully informed of these changes so that the information can be passed on to you. Parkheath Estates are members of the industry’s governing body ARLA (The Association of Residential Letting Agents) and each office has at least one member of staff who has successfully passed the ARLA Legal Comprehension exam. Please speak to your local office to discuss any legal issues, which may affect your property prior to signing a Tenancy Agreement. Security DepositA security deposit is taken at the commencement of the tenancy from the Tenant and is usually equivalent to 6 week's rent. It is held for the duration of a tenancy and returned to the tenant after the property is vacated. The Landlord can legally make deductions from the deposit in order to cover any contractual obligations which have not been fulfilled by the Tenant, ie. the cost of the inventory check out fee, the cost of any damages caused by the Tenant, removal of any refuse left behind by the Tenant, any necessary cleaning to be carried out as per the inventory check out report. The Landlord cannot use the deposit money to make any improvements to the property (this is called 'betterment') but the Landlord is able to to use the money to bring the property back to the same standard as at the commencement of the tenancy and in line with the in-going inventory report, less any wear and tear. As from 6th April 2007, all security deposits are to be held within an authorised scheme, in line with current government legislation; Tenancy Deposit Protection (TDP). Parkheath Estates are members of The Dispute Service and our membership number is TDS0232 and we are, therefore, legally entitled to hold Tenant's deposits on behalf of the Landlord. Further information is available at www.tds.gb.com or www.arla.co.uk. InventoryIt is exceptionally important, and forms part of your Tenancy Agreement, to provide the tenant with a comprehensive inventory and schedule of condition at the outset of the tenancy. This should be prepared by a third party and Parkheath Estates advise you to use an Independent Inventory Clerk for this purpose, or you may encounter difficulties at the end of the tenancy should you wish to retain money from the tenant’s security deposit. Please note that it is the obligation of one party of the tenancy to pay for the inventory at the outset and the other party to pay at the end of the tenancy, to make the report fair and unbiased. Safety RegulationsThis is of paramount importance and covers all furniture and furnishings within the property, gas appliances, equipment & pipework, electrical appliances, plugs, sockets & wiring. It is a legal requirement to provide the tenant and letting agent with a valid landlord’s gas certificate every 12 months and Parkheath Estates strongly recommend that you opt for the dual certificate which, covers gas and electrical appliances. InsurancesIt is essential to provide the tenant with a current insurance policy covering the building and any of your contents, as this forms part of your tenancy agreement. It is strongly advisable to opt for accidental damage on the policy. TaxesOverseas Landlords need to apply for Inland Revenue approval and information can be found at www.hmrc.gov.uk/cnr. Head LeaseIf your property is a leasehold property you must obtain consent from your Superior Landlord or Managing Agent prior to letting. You should provide Parkheath Estates with a copy of any obligations imposed upon you by your Leaseholder, so that the Tenancy Agreement can be amended to reflect these conditions. You can usually find this information at the end of your property lease or from your block Managing Agent. MortgagePlease remember that if you have a mortgage on the property you must inform the mortgage company of your intention to rent. RentThis is payable by the Tenant before the Tenancy Agreement is signed and dated. It is usual to receive one month’s rent in advance, however, if the Tenant wishes to change the day when their subsequent rent payments will become due, they will be required to pay an additional amount at the outset of the tenancy and the Tenancy Agreement will reflect this. Parkheath Estates will collect the rent on your behalf when managing the property or if instructed to do so. Let us take the stress out of managing your investment…We offer a variety of property management services to cater to the individual needs of the landlord. DisclaimerThis guide is intended to help readers navigate their way through the letting process under the estate agency systems in England and Wales. Readers take any advice at their own risk. Parkheath Estates Ltd accept no responsibility for any action taken, or loss occuring, as a result of any advice and/or information in this guide. |
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