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How to Rent Out Your House

Letting can be complex and you need to be compliant in this ever changing world. But we are here to guide you, and to provide exactly the level of service that you require to ensure that your investment is looked after.

Please note:

We cannot cover every detail of letting on this page; it is designed to give you an understanding of the main topics and obligations to be considered.  Please do not hesitate to contact us for more information on any aspect.

Preparing your property

We can advise you on every aspect of preparing your property for rental.  There are naturally things you can do to make it more marketable; there are aspects of the property you have to attend to by law.  The following is a summary of the main points to be considered and the important activities to be set in motion.
Your property – including any associated garden or outside space – should be clean, clear and compliant. 

Clean: your property – including carpets, curtains and the oven – should be professionally cleaned before the start of the let.  You should then expect the property to be returned to you in the same condition at the end of the let, making allowances for reasonable wear and tear.

Clear: your property should be clear, in as much as only essential items of furniture should remain.  This is because there is currently more demand for unfurnished properties, and any furniture that you do leave must comply with the Furniture and Furnishings (Fire Safety) Regulations 1988, amended 1989 and 1993.

Compliant: all gas appliances must comply with the Gas Safety (Installation and Use) Regulations 1994, as amended 1996, their being serviced and checked annually and the paperwork lodged with us.  All electrical equipment must comply with the Electrical Equipment (Safety) Regulations 1994 and General Product Safety Regulations 1994.  Smoke detectors must be installed in rental properties.  Energy Performance Certificates are now mandatory for all rental properties.  We recommend that Maintenance Contracts are in place for all appropriate items.  All relevant instruction manuals should be left at the property for the tenant’s use.

Marketing your property

We will discuss with you the best way to market your property, which may include the production of a brochure, with location maps and photography.  We will market your property through the leading property portals – Rightmove, Digital Property Group, Prime Location, Zoopla and Property Live – through local papers and at our offices.  We also have close links with local relocation agents and with large local employers.  Your most valuable channel to market, however, remains our staff and their in-depth knowledge of the local marketplace, of those looking to rent and of who would be the best fit for your property.

Inventory

We instruct independent professional inventory clerks from the AIIC (Association of Independent Inventory Clerks) to prepare an inventory for the protection of both parties.  This is a detailed descriptive list of all rooms and their contents, their condition and any instances of wear or damage, supported by photographs if necessary.

Tenancy Deposit Scheme

The Housing Act 2004 requires a tenant’s deposit to be held within one of three schemes.  Penyards is a member of the Tenancy Deposit Scheme, which has its origins in ARLA and is, in our view, a far more proven facility than its competitors.  We therefore hold the deposit as stakeholder.

The Tenancy Agreement

The contract between you and the tenant is enshrined in the Tenancy Agreement, prepared by us, which sets out the responsibilities of all parties. 

Insuring against losses and costs

We recommend the LetRisks Rent & Legal Costs Protection Plan to our landlords.  It covers you against possible loss of income and any legal costs, for just 2.89% of the rent.

Your mortgage

If you have a mortgage on the property in question, please note that it is usually a condition of any mortgage that the lender should grant their permission before you let it.

Your insurance

You should advise your buildings and contents insurer of your intention to let your property.  Note that this may result in your premium being increased or your terms of cover being amended.

Letting your property

We can perform as much or as little of the ongoing business of letting your property as you wish. The monthly collection of rent and the maintenance of your property can be undertaken for you, or you can retain responsibility for those tasks.

Maintenance of your property

You are responsible for the maintenance and servicing of all that you own.  This will certainly include aspects of your property such as the building’s structure, the roof, the boiler, the central heating system and so forth.  It may also include the washing machine, tumble dryer, oven and refrigerator.

The tenant’s responsibilities

The tenant is responsible for all bills, including Council Tax, Water and Waste, Electricity, Gas, Oil, Fuel and Phone.

Your tax position

The profit that you make on letting your property is subject to UK Income Tax.  You can offset your costs – including your mortgage, any maintenance or repair bills, insurance premiums and agency fees – against this profit.

The law - your responsibilities

The relationship between landlord and tenant is regulated by legislation such as the Housing Act 1988, in order to ensure fairness for both parties.  These laws detail your responsibilities in terms of your property’s condition and safety, your position with regard to tax, as well as the grounds under which you may be granted repossession.

The end of a tenancy at your property

You cannot normally terminate a tenancy within the first six months, unless there has been a serious breach of the Tenancy Agreement.  Landlords normally need to give two months’ notice, whilst only one month is required on the tenant’s side.  The condition of your property and any associated garden or outside space should be the same as at the beginning of the let, with allowance made for fair wear and tear.

ARLA – your protection

The Association of Residential Letting Agents is the widely respected voice of the industry, offering you such benefits as protection from unscrupulous agents, and reimbursement should your ARLA agent fall into difficulties.  As a landlord, you do not enjoy the same protection from non-ARLA agents.

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“In terms of service your team in the office is clearly outstanding. It's a pleasure to tell people about you.”

“In terms of service your team in the office is clearly outstanding. You did achieve what you told me you'd achieve when I first asked for your support, and I am confident that if I had involved you from the outset then I could have had my house let without any break at all after the previous tenant... I do feel like you really care about my interests as a landlord, but - as important - you care about things being right for the tenant... It's a pleasure to tell people about you.”

N.A.F Landlord

“You were one of the few agents that called to tell me if a new property had come onto the lettings market”

“You were one of the few agents that called to tell me if a new property had come onto the lettings market – saves me constantly looking on Rightmove!”

Ms O

“Thank you ever so much for all the hard work and letting the house so quickly!”

“Thank you ever so much for all the hard work and letting the house so quickly!”

Ms B

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