Thinking of letting your property but not sure where to start? We’ve put together answers to the questions we hear most often from landlords – so you can feel confident before you take the next step.
How much will it cost to let my property?
There are a few costs to factor in when letting your property:
- Energy Performance Certificate (EPC) – If you don’t already have a valid one, you’ll need to get one arranged before marketing your property. We can help organise this, and the cost will depend on the size of your property.
- Inventory and check-in report – This needs to be completed before your tenant moves in to protect both parties. Again, pricing varies by property size.
- Commission fee – This varies between agencies and depends on whether you opt for a tenant-find only service or full property management.
It’s also worth knowing that legislation now caps the tenant deposit at between five and six weeks’ rent, depending on the amount charged. The deposit must be paid on signing the tenancy agreement, and within 30 days you’re required to register it with an approved tenancy deposit protection scheme. Failure to do so carries serious legal implications for landlords.
Who carries out viewings, and when do they happen?
At Alan Batt Sales & Lettings, we accompany all viewings during office opening hours. You don’t need to be there – and in most cases, it’s better that way. Prospective tenants tend to feel more relaxed and take their time when the owner isn’t present. We’d only ask you to carry out a viewing in rare circumstances.
How much deposit should the tenant pay, and what happens to it?
The deposit is capped at between five and six weeks’ rent depending on the rental amount. It’s paid by the tenant when they sign the tenancy agreement. As the landlord, you’re then required to register it with a government-approved tenancy deposit protection scheme within 30 days – and serve the relevant documentation. This is a legal obligation, and not one to overlook.
Who is responsible for arranging an inventory?
As the landlord, the responsibility sits with you – but we can take care of it on your behalf. An accurate inventory protects you if there’s ever a dispute about the condition of the property at the end of the tenancy, so it’s well worth doing properly.
I’m interested in full property management – how much does it cost?
Our property management fee is charged as a percentage of the monthly rental amount, plus VAT. Get in touch and we’ll talk you through exactly what’s included and find the right option for you.
When will I receive my rent?
You’ll receive your rent by standing order each month on the rental due date – which is typically the anniversary of the day your tenant moved in. Straightforward and reliable.
Still have questions?
We’re always happy to help. Give us a call on 01942 233999 or drop us an email at [email protected] – we’d be delighted to have a chat.