Landlords Services

If you are a Landlord or an Investor in residential property for rental in the North West, we have designed our professional and cost effective Selling Letting and Property Management services to you. Our specialists have a complex understanding of property management for maximum performance, various landlord/tenant laws, and years of experience of how to start, manage and finish tenancies. Why do not you get the maximum out of your investment - contact us now.

www.steppingstoneproperties.co.uk

call:

01772 824 093

or visit us

13 New Hall Lane, Preston, Lancashire,PR1 5NU

Our Services:

o Visiting you at your property, providing rental valuation, and give advice, if you require, about letting your property.
o Giving you advice, if you require, on the safety regulations.
o Locating suitable tenants. Your property will be advertised, however we have excellent contacts with various company and other establishment personnel departments, and furthermore usually have tenants waiting.
o Accompanying future tenants to view the property.
o Getting references of the future tenants and making credit checks.
o Preparing a tenancy agreement and arranging signature.
o Collecting the tenancy deposit which will be treated according to the current legislation.
o Preparing an inventory and schedule of condition if required.
o Providing help with the transfer of water, gas, electricity and council tax accounts into the tenant's name in two weeks.
o Receiving one month of rental payment in advance, and paying you promptly, together with a detailed statement.
o Paying regular outgoings for you, if you require, from the rent.
o Visiting the property often, and reporting any problems to you.
o Arranging repairs or maintenance, if needed, first contacting you in the case of larger works.
o Keeping contact with the tenant, and arranging renewals of the agreement if needed.
o Checking tenants out as required, re-letting and continuing the process with the minimum of vacant periods.

Guide for Landlords

In order to ensure that the tenancy runs without problems, there are some matters need to be dealt with, before a property can be let, and the landlord should know if he/she complies with the law. Here is summarised information below. If you require any information, please do not hesitate to contact us:

The preparation of the property
Even though it is our responsibility to keep contact with the Tenants, a good relationship between the Landlord and Tenants is also quite important. The Tenants should feel that they are receiving value for their money. By a well presented and maintained property in a good order you achieve a higher rental figure, and Tenants also tend to treat such a property with greater respect.

General condition of the property
Electrical, gas plumbing, waste, central heating and hot water systems must be safe and in good working order. Repairs and maintenance are at the Landlords expense unless in the case of misuse. Interior decorations should be in good condition and preferably, light, plain and neutral.

About furnishing
The property can be let furnished, part furnished or unfurnished; it depends on the type of property and local market conditions. If you require advice, whether you should let your property furnished or not, please contact us, we will help. Furnished or not, you will need to provide decent quality carpets, curtains and light fittings.

Your personal items
All of your personal belongings (ornaments, pictures, books etc.) should be removed from the property, especially if these items represent a real or sentimental value to you. Some possessions may be put in boxes, sealed and stored in the loft, but at your own risk. The cupboards and shelves should be cleared for the Tenant's use.

The Garden
Before the tenants move in, be sure to leave your garden in good condition with the lawn cut. Tenants should keep the garden well, if they are left the necessary tools. Keep in mind, however, that the tenants may not be professional gardeners. You might wish us to arrange visits by our regular gardener.

Cleaning the property
Before the tenants move in, you should clean the property. When they move out at the end of the tenancy, they must do the same. If they don’t do that, the cleaning will be arranged at their expense.

Informing the Tenants
It is a good idea to explain the tenant the way the central heating, the hot water system, the washing machine and the alarm system works, and the day refuse is collected etc.

Keys
You should provide one set of keys for each tenant. We will arrange to have duplicates cut as required, where we will be managing

Other Considerations

Mortgage
If the property is mortgaged, first you should get your mortgagee's written consent to the letting. You must inform us if they require additional clauses in the tenancy agreement.

Leaseholds
You should check the terms of your lease, if you are a leaseholder and also get any necessary written consent before the letting.

Insurance
Before letting your property, make sure that you are covered for letting under both your buildings and contents insurance. Failure to inform your insurers may invalidate your policies. If you require advice on Landlords Legal Protection, Rent Guarantee Cover and Landlords Contents and Buildings Insurance, please contact us.

Bills and outgoings
The easiest way for paying regular outgoings: service charges, maintenance contracts etc. is to be paid by standing order or direct debit. Where we are managing the property, if we have prior written agreement, then we may make payment of certain bills on your behalf, if these bills are received in your name at our office, and of course if there are sufficient funds held to your credit.

Council tax, utility accounts
We will arrange for the transfer of Council Tax and utility accounts to the Tenant. We also take meter, allowing your closing gas and electricity accounts to be drawn up. However, you must know, that British Telecom will require instructions from both the Landlord and the Tenant.

Income tax
It is your responsibility to inform the Revenue & Customs of rental income received, and to pay any tax due, if you are resident in the UK. If you are resident outside the UK during the tenancy, you will require an exemption certificate from the Revenue & Customs before you can receive rental balances without deduction of tax.

Making an inventory
It is very important to make an inventory of the contents and a schedule of condition, because without them it will be impossible for the Landlord to prove any loss, damage, or significant deterioration of the property or contents. In order to avoid misunderstanding or dispute at the end of a tenancy, we will (if required) arrange for a member of staff to prepare an inventory and schedule of condition, at the cost quoted in our Agency Agreement.

Assured Short hold Tenancy
Most tenancies will be Assured Short hold Tenancies (ASTs) automatically, if the rent is under £25,000 a year and the property is let to private individuals. Tenancies are granted for an initial fixed term of either 6 or 12 months. After the expiration of the fixed term, the landlord is able to regain possession of the property, if he gives two months written notice to the tenant. Furthermore, if the tenant owes at least 2 months or 8 weeks rent on the property, the Landlord can apply through the court to seek a possession order.

Health and Safety, other Legal Requirements

The owner (Landlord) is responsible for the following requirements. Where we are managing the property they are also our responsibility. Therefore where we are managing we will ensure compliance, any costs of which will be the responsibility of the landlord.

Gas
The Gas Safety (Installation and Use) Regulations 1998 states that all gas appliances and flues in rented accommodation must be checked for safety within 12 months of being installed, and thereafter at least every 12 months by a competent engineer (e.g. a CORGI registered gas installer).
There is a duty to ensure that all gas appliances, flues and associated pipe work are maintained in a safe condition at all times.
Full records are to be kept for at least 2 years of the inspections of each appliance and flue, of defects found and of remedial action taken.
A copy of the safety certificate issued by the engineer must be given to each new tenant before their tenancy commences, or to each existing tenant within 28 days of the check made.

Electrical
There are several regulations about electrical installations, equipment and appliance safety, and these affect landlords and their agents in that they are 'supplying in the course of business'. Including: the Electrical Equipment (Safety) Regulations 1994, the Plugs and Sockets Regulations 1994, the 2005 Building Regulation - 'Part P, and British Standard BS1363 relating to plugs and sockets.
There is currently no legal requirement for an electrical safety certificate (except in the case of HMOs) with tenanted properties, but in the letting industry it is now widely accepted that the only safe way to ensure safety, and to avoid any risks and future problems is to arrange such an inspection and get a certificate.

Fire
The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (amended 1989 & 1993) provide that specified items supplied in the course of letting property must meet minimum fire resistance standards. The regulations apply to all upholstered furniture, beds, headboards and mattresses, sofa-beds, futons and other convertibles, nursery furniture, garden furniture suitable for use in a dwelling, scatter cushions, pillows and non-original covers for furniture. They do not apply to antique furniture or furniture made before 1950, bedcovers including duvets, loose covers for mattresses, pillowcases, curtains, carpets or sleeping bags. Items which comply will have a suitable permanent label attached. Non-compliant items must be removed before a tenancy commences.

Smoke Alarms
All properties built since June 1992 must have been fitted with mains powered smoke detector alarms from new. Although there is no legislation requiring smoke alarms to be fitted in other ordinary tenanted properties, it is generally considered that the common law 'duty of care' means that Landlords and their Agents could be liable should a fire cause injury or damage in a tenanted property where smoke alarms are not fitted. We therefore strongly recommend that the Landlord fit at least one alarm on each floor (in the hall and landing areas).

Is your property a House in Multiple Occupation (HMO)?
If your property is on 3 or more levels and let to 5 or more tenants comprising 2 or more households (i.e. not all of the same family) it will be subject to mandatory licensing by your local authority. Whether mandatory licensing as above applies or not, if there are 3 or more tenants not all related in any property, it is still likely to be an HMO, and special Management rules apply.

The Housing Health and Safety Rating System (HHSRS)

The HHSRS provides an analysis of how hazardous a property is through assessment of 29 potential hazards found in housing. Landlords have to maintain their properties to provide a safe and healthy environment. The HHSRS is enforced by local authorities.

The Tenancy Deposit Scheme
From 6 April 2007, all deposits taken by landlords and letting agents under Assured Short hold Tenancies (ASTs) in England and Wales must be protected by a tenancy deposit protection scheme. Unless it is dealt with under a tenancy deposit scheme, landlords and letting agents must not take a deposit. To avoid any disputes going to court, each scheme will be supported by an alternative dispute resolution service (ADR). Landlords and letting agents will be able to choose between two types of scheme; a single custodial scheme and two insurance-based schemes.

The Disability Discrimination Act 2005
The DDA 2005 addresses the limitations of current legislation by extending disabled people's rights in respect of premises that are let or to be let, and common hold premises. Landlords and managers of let premises and premises that are to let will be required to make reasonable adjustments for disabled people. Under the new duties, provided certain conditions are met (for example, that a request has been made), landlords and managers of premises which are to let, or of premises which have already been let, must make reasonable adjustments, and a failure to do so will be unlawful unless it can be justified under the Act. Landlords will only have to make reasonable adjustments. And they will not have to remove or alter physical features of the premises. Learn more here: http://www.dwp.gov.uk/aboutus/dda_factsheet4-premises.pdf

Energy Performance Certificates (EPCs)
From 1st October 2008 landlords in England and Wales offering property for rent will be required by law to provide prospective tenants with an Energy Performance Certificate for their property. In Scotland EPCs for rental properties will be required by January 2009. The certificates must be provided free either when (or before) any written information about the property is provided to prospective tenants or a viewing is conducted. A new certificate will not be required on each let since, in the case of rental property; EPCs will be valid for 10 years. The requirement is being introduced to comply with the EU’s Energy Performance of Buildings Directive (EPBD) which applies to all property, including rented property. This became law in 2003 and allowed until January 2009 for full implementation so as to provide time for sufficient numbers of energy assessor to be trained. The Directive’s requirements were introduced in England and Wales along with the controversial Home Information Pack regulations that require sellers to produce packs providing information about their title, local searches, plus an EPC. We can arrange an EPC inspection for our landlord clients upon request.

Insurance

We are able to suggest a variety of insurance policies for both landlords and tenants, including the following

Buildings Insurance
Covers the rebuilding of your property following loss or damage caused by fire, aircraft, smoke, malicious persons (including tenants), accidental damage to bathroom fixtures & fittings and glass, lightning, explosion, collision or impact, falling trees and earthquake, theft (by forcible means), subsidence, riot/civil commotion, storm, flood, escape of water or oil leakage and loss of rent up to 20% of the sum insured following damage. Also includes property owner's liability.

Limited Contents Cover
Where the property is let unfurnished limited contents cover is available; this generally provides cover for the following items: Carpets, Curtains, Sun Blinds, Light Fixtures & Fittings, and Kitchen White Goods. Cover an be on a new for old basis and also includes landlord's liability.

Contents Insurance
Cover can be on a new for old basis for loss or damage caused by fire, aircraft, smoke, malicious persons, lightning, explosion, impact, theft (by forcible means), subsidence, riot/civil commotion, storm, flood, escape of water or oil leakage, breakage of mirrors or glass in furniture, replacement of locks following theft of keys, and loss of rent up to a given percentage of the sum insured following damage. This can also include landlord's liability.

Legal Expenses
You may be unable to collect the rent, your tenants may damage or remove your personal possessions, or they may cause a nuisance to your neighbours. All these problems can be resolved by legal action but this is expensive. You can get cover to include all of your legal expenses up to a set figure and even with no policy excess to pay.

Rent guarantee
This policy provides total peace of mind for landlords. Cover includes the rent you are expecting from your property until vacant possession is obtained for up to 12 months (excluding the first month's lost rent). Additionally, cover includes 50% of the rent for up to 3 month's after possession is obtained whilst a new tenant is found. All related legal expenses are included.
Investment:
With typical returns of up to 10% achievable on capital investment in residential property to let in much of the UK, the buy-to-let market provides a highly efficient long-term investment medium.

Post-purchase refurbishment
From minor works to complete refurbishment, we are able to assist in the process of preparing the property for letting in a variety of ways, including the arranging and supervising of redecoration and repairs, carpeting, curtaining and furnishings. Our relationship with local suppliers and trades people ensures competitive pricing and quality workmanship. Our fees for arranging and supervising refurbishment works are a minimum of 10% of the total expenditure.

We hope that the above information helped you answering your questions. If there are any parts of which you are unsure, please ask us. We look forward to being of assistance to you in the letting and management of your property.