If you have a property or portfolio in Dundee or the surrounding area, and you would like to know more about the services we can offer then read on…
Many Landlords come to us because they aren't happy with the service levels being delivered by their current agent - it's a very common scenario. Some have a high turnover of tenants, too many void periods, too much damage, or not even getting the rent paid over to them. We hear stories like this all the time.
As Landlords ourselves, we understand how frustrating this can be for you, not to mention how much of a financial nightmare it can be. We fully understand the importance of finding the right tenant, keeping on top of maintenance and of course rent arrears if they occur ñ we have a zero tolerance where they are concerned!
We offer two levels of service:
Tenant Find is where we find you a suitable tenant and make sure all the legal documentation is in place leaving you to manage the property yourself, view more...
Full Management option where we handle everything relating to your property, the only calls you would get would be from ourselves, therefore no tenants, tradesmen or angry neighbours to deal with, view more...
Some properties lend themselves better by renting to DSS/LHA tenants, why?
(We are of course advised by the landlords whether LHA / DSS tenants are suitable)
It is lucrative for the following reasons.
Higher than market rent - YES it's true: If you are looking to improve your cash-flow then look no further than letting to LHA tenants, the average property may let for anything between 15 - 35% more than if you were letting to working tenants. Therefore if you are looking to improve your rental yields and cash-flow then consider letting to LHA tenants.
Guaranteed rent - government pay the rent: With unemployment on the rise, you need to think really hard about what happens if your tenant comes out of work. With LHA this is not a worry. There is not much to say other than the government pays the rent, what better security do you need?
Less void periods - Tenancies tend to be longer: Most LHA tenants tend tohave young families. This tends to mean they have kids to consider, consequently they are less likely to frequently move. It's probably also relevant that the tenants think they are lucky to find a landlord who accepts LHA, in our opinion they would only move as a last resort- say for example if the property wasnít being maintained properly.
Less competition - most landlords dislike LHA: This is normally because landlords donít understand the system properly, therefore they exclude LHA tenants, this leaves a constant demand in this sector.
We currently have a number of tenants on our waiting list looking for homes, if you have a property to let and wish to take advantage of our services then we would be delighted to talk to you.
Do not hesitate to give us a call on 01382 214488 to discuss how we could help you, to arrange a free, no obligation market appraisal of your property. Or use our contact form to submit your requirements to us.
Below is some useful information prior to you letting your property which we recommend you read carefully, especially if this is your first experience in letting your property.
Condition of Property for Letting
Any property let by should meet a certain standard of quality and cleanliness. The following can be used as a guide:
Cleaning: the property should be cleaned thoroughly prior to the commencement of the tenancy and should be left in the same state by the tenant. Failure to do so could result in cleaning services being charged to the tenant.
Unfurnished: if you are letting unfurnished then the property should have a minimum of all floor coverings.
Gardens: These should be left clean and tidy and, if applicable, lawns should be cut prior to the tenants moving in. But it should be the tenant's
responsibility to maintain them to a reasonable standard. Alternatively, we can arrange periodical visits by a gardener.
Keys: You should ensure all locks on the property work correctly and a minimum of one full set of keys are left with the new tenants. If we manage the property we will arrange to have a set of duplicates cut as required for our use. Remember there are sometimes keys for garages, sheds, meter boxes and windows. All will need to be passed to your tenant.
Insurance: Although you may have a tenant living in your property it is still the landlordís responsibility to provide buildings insurance. To avoid invalidating your policy you should inform the insurance company if you intend letting to LHA tenants.
Bills, service charges etc: Your regular outgoings such as mortgage, service charges (apartments) etc will remain your responsibility for the duration of the letting period but in most cases the tenant will be responsible for utility bills such as water, gas, electric, and telephone, broadband and council tax.
Property Inspection Form: It is highly recommended prior to letting that all landlords prepare a property inspection form of contents and a record of the general condition of the property. This could avoid any disputes between the tenant and yourself at the end of the tenancy agreement. This is also a service we can offer and includes photographic evidence of the general state of the property, both internally and externally. The fee for this is a one-off payment which is 10% of the monthly rent.
Mortgage: Check the terms of your mortgage agreement (if you have one) as you should inform your lender of your intentions to let the property and gain written consent. If you intend letting to LHA tenants again you should inform your lender and gain written consent.
Income Tax: You are responsible for notifying HMRC (HM Revenue & Customs) of the tenancy. If you reside abroad the HMRC will hold us responsible for the payment of any tax liability which arises on rents collected unless an approval certificate is provided by the Inland Revenue in line with the Finance Act 1995. If you are resident abroad we will be required to deduct tax at the appropriate rate and are now obliged to forward this to HMRC on a quarterly basis. Further information is available at www.hmrc.gov.uk/cnr/nr_landlords.htm
Gas Safety: The Gas Safety (Installation and Use) Regulations 1998 say landlords must ensure that gas appliances, fittings and flues are safe for tenantís use and that installation, maintenance and annual safety checks are carried out by a technician registered with the Gas Safety Register (which superseded CORGI on 1st April 2009). The landlord must keep a record of the safety check for two years and issue a copy to each existing tenant within 28 days of the check being completed and issue a copy to any new tenants before they move in.
Electrical Safety: While there isnít a legal obligation on landlords to have professional checks carried out on the electrical appliances, there is, however, an obligation to ensure that all electrical equipment is safe, under the Electrical Equipment (Safety) Regulations 1994, the Plugs and
Sockets Regulations 1994, the 2005 Building Regulation - Part P, and the British Standard BS1363 relating to plugs and sockets. All electrical
certification should be carried out by an electrician whom is registered with the National Inspection Council for Electrical Installers and Contractors (NICEIC).
There are two types of electrical certificate:
Periodic Inspection Report
Portable Appliance Testing (PAT)
Fire Safety: The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (as amended in 1989 and 1993) sets minimum fire resistance standards for domestic upholstered furniture, furnishings and other products containing upholstery that remain in a dwelling during the course of a tenancy.
These include any of the following which contain upholstery:
furniture intended for private use in a dwelling, including children's furniture beds, head-boards of beds, mattresses (of any size) sofa-beds, futons and other convertibles nursery furniture, garden furniture suitable for use in a dwelling scatter cushions, pillows, seat pads and loose and stretch covers for furniture
The Regulations do not apply to:
furniture made before 1950
bed-clothes (including duvets)
loose covers for mattresses
For items that do apply, a suitable label must be attached to the furniture in a prominent position so that the label will be clearly visible to a potential purchaser of the furniture and the wording on both sides can be read with reasonable ease.
Smoke Alarms; Carbon Monoxide: All properties built since June 1992 must have interlinked mains-connected smoke detectors / alarms on each floor of the property. Smoke alarms must be checked regularly to ensure that they are in full working order. A carbon monoxide detector should also be supplied. These can be purchased for around £5 from most DIY shops.
Energy Performance Certificate: With effect from 1st October 2008, all new tenancies require an Energy Performance Certificate. Their purpose is to determine how energy efficient homes are on a scale of A-G. The most efficient homes - which should have the lowest fuel bills - are in band A. The certificate uses the same scale to define the impact a home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions. The average property in the UK is in bands D-E for both ratings.
The certificate includes recommendations on ways to improve the home’s energy efficiency to save money and help the environment.