Letting Agents Brighton and Hove - Kendrick Property Services

Introduction

Kendrick Property Services, Letting Agents in Brighton and Hove, provides a range of letting and management services based on the experience, skills and expertise of our lettings team. You can be assured that we have a detailed understanding of the lettings and management sector and will ensure that you are given the best possible service.

Ever since the release of the ’88 Housing Act, landlords have gained more protection in the United Kingdom.  As such, there has been an increase in lettings.

All kinds of individuals are interested in renting out their properties.  Investors are the most obvious, but sometimes homeowners will rent out personal properties in hopes of making some cash on the side.   There are even folks who will buy properties just for the purpose of letting them.

In any case, you want to get into letting, you need agents who know what they are doing.

LETTING AGENTS BRIGHTON STYLE – HOW DO YOU GET STARTED?

1. After you choose a letting agent, you will have to prepare your house for the renting process.  You can do this by following a few guidelines.  

These guidelines include the following:

•  Paint your interior walls a neutral color while keeping your carpets plain
•  If you use fabrics or furnishings, make sure they are high quality
•  Eliminate any animal odour in your house
•  Make sure you give a good first impression.  Keep your entryway clear and clean your front door(s).
•  Thoroughly clean your property.  Do this for both the inside and the outside, as no one is impressed with a messy yard.
•  If it is cold outside, make sure you turn on the heat.  If it is warm, put on the air or open your windows.
•  Talk to your agent if you have any more concerns.

3. Additional considerations you should think about

•  If your house is a leasehold, you will have to get permission from your lender before letting.
•  You should notify your insurance provider of your intention to let.  You then need to get an appropriate policy.   If you need help in this process, just ask us.  
•  You must notify Inland Revenue of your intentions within six months of renting.  It does not matter if you are letting a house, flat or apartment, as all of them get charged taxes.  And if you do not notify Inland Revenue, you could get into serious legal trouble.   For further tax advice, consult with an accountant.  They will teach you how to maximize your new investment.
•  If necessary, redirect your mail.
•  Make an extra copy of your keys.
•  All of your current expenses need to be transferred to your tenant.  This includes your utilities and your council tax.
•  You should create an inventory.  We at Kendrick can help you in this process.  Basically, an inventory is a legal document that encompasses your renter’s Tenancy Agreement.  So, to prevent any problems down the road, it needs to be done right.

Inventories are needed regardless of the state of the property.  And when you create one, you must use accurate descriptions.   As for your tenant’s deposit, it must remain as you agreed.  You cannot take out money to fix problems with the house.  The only exception is if the tenant caused damage.

If there is a dispute over your property, you may have to go to court for arbitration.  If a judgment is filed, it will be created based on the terms in your Inventory.

4. Tenancy – In 1988, the UK initiated a Housing Act.  
Through this legislation, two new forms of Tenancy were created:  Assured & Assured-Shorthold.  The existing tenancies of Company and Contractual remained as they were

A)  HOW ASSURED TENANCY WORKS

To qualify for assured tenancy, you have to meet certain criteria.  With assured tenancy, the rent is negotiated in private between the landlord and the tenant.  It is still supposed to be at market value, but with this arrangement, the landlord has more freedom in what he or she can charge.  Also, the landlord has the right to take back their property, provided they get an order from the court.

B) HOW ASSURED-SHORTHOLD TENANCY WORKS

This option is more attractive for landlords because it offers market value rent without having to meet a contractual agreement.  However, to qualify you must meet the following criteria:

a) Your tenant has to be one individual
b) The property has to be your tenant’s primary residence
c) The rent cannot go over £25,000 per year
d) You cannot live on the same property (if you are the landlord)

If you let a house under this agreement, you can use a Section 21 to guarantee its possession.  This is under the condition that the terms of your tenant’s Shorthold have expired AND you have given them a notice of two months.

Should you need court action, you can obtain one but it will be on a different set of legal grounds.
Note that if you forcibly evict tenants, you are committing a criminal act under UK law.

C) HOW COMPANY TENANCY WORKS

Contract law determines how company tenancy works.  As such, it does not fall under the housing legislation of ’88 or ’96.  Basically, company tenancy occurs when private or public limited companies want to create tenancies.  Partnerships and sole traders are excluded.

In this arrangement, you will not have tenure security as the rent is usually made in quarterly installments.

5. Furnished vs. Unfurnished – The majority of tenants prefer that their houses be unfurnished.  Also, studies have shown that tenants actually take care of the property better if they are allowed to use their own furniture.  Moreover, there is very little difference when it comes to rent.  But with a furnished house, the landlord must fix or replace anything that breaks down.   The only exception is if the tenant destroys your furnishing.

6. Finding Tenants - You have to decide if you are going to use a letting agent to market your home.  If not, you would have to use managing agents.
Now regardless of what you decide, Kendrick will still represent your interests.  We will do this by giving your property a valuation.  This will be determined by a number of factors ranging from popularity to the property’s decorative conditions.  

Just keep in mind that regardless of what we come up with, you need to price your house fairly.

In any case, after you come up with a price, we will advertise your property in a variety of publications.   They will include local newspapers and Argus Property, one of the most popular magazines in the UK.  On top of that, your property will be published in our own publications.  Not only will it be featured in our office, but it will also be advertised on our network of websites.  

If you would like to hire us for managing purposes, we will field calls, schedule viewings and vet through all of your prospects.  Remember, we are not just letting agents.

7. Credit Checks – Being the best letting agents Brighton has to offer, we conduct credit checks on all of your prospective tenants.  If the applicant does not meet our standards, we have the right to reject their contract.

8. Reference Checks – This can be done if we work with you as a managing agent.  The checks would encompass references from the applicant’s employer and their former landlord.

Along those lines, we can also help you get an insurance policy that will protect you in the event the tenant defaults on their rent.  These policies provide both financial and legal safeguards.

9.  Drafting Tenancy – As the best letting agents Brighton has, we will do what is necessary to create your lease agreement.   All you have to do is sign at the dotted line.

10. Damaged Deposits - The damage deposit is a month of rent plus an additional £200.00.  These monies will be held in our client’s account until your tenant ends their term.  This is under the condition that Kendrick manages your property.  Once the tenant leaves, we will re-inspect the house.  If everything is appropriate, we will issue a refund to your tenant.
The costs of your property’s everyday repair are your responsibility.  However, if we manage your home, we will use your tenant’s rent to pay our contractors.  This means you will not have to pay anything upfront.
According to UK real estate law, the landlord is responsible for repairing their home.  This includes the properties exterior as well as internal installations.

If your home is not in a decent state at the end of your renter’s tenancy, they can insist that you carry out your repairs.  If the damage is extensive, the tenant is eligible for compensation as you (the landlord) would be in breach of contract.

11. Rent Collection - Rent is usually paid monthly.  All of the monies go to you, though there may be deductions for repairs, etc.  This would be agreed upon in advance.

12. Legal Duties – As per the common law, you have to make sure your homes are safe to live in.  Doing otherwise is a criminal offence.

As a managing agent, we will help you make sure your property is up to par.  We will deduct the costs of these checks from your tenant’s rent.

1. Gas Installation – If your property runs on gas, you must maintain the installation.  To do so, you need to get safety checks from a CORGI agent.  If the gas lines are okay, they will give you an inspection certificate.
2. Electricity – You must make sure that all of the electrical wiring in your house is safe.  If there is a non-repairable component, it must be removed immediately.

An NICEIC electrician can test your wiring.  You should do this each time there is a change in tenancy.
All of the operating instructions should be left on the premises.

3. Furnishings – Any soft furnishing has to meet local fire standards.  They should have a label confirming such a fact.  If you cannot prove compliance, you must replace the furniture.

4. Smoke Detectors – If your property was built before 1992, you are not legally required to have a smoke detector.  However, we recommend you install these devices anyway.  They should be on each floor of your property.

NB: If you do not comply with the UK’s safety legislation, you could face a fine of £5,000 and/or six months of prison.  This is applied towards each offence.  If your actions result in death or injury, you could suffer a harsher sentence.
What you have seen above is a basic guide to what is legally expected of landlords.  If you have more questions, we suggest that you consult with a solicitor.

13. Overseas Landlords – If you live in another country or work abroad often, you fall into this category.

Be aware that the taxes of Inland Revenue apply to anyone letting property in the United Kingdom.   It does not matter if you are not a citizen.  As such, if you are a foreigner renting property, you must still apply with this office for authorisation.  

NB: Again, the advice mentioned above is meant to serve as a basic guideline.   Talk with a tax expert or an accountant before making any final decisions.

Letting Agents Brighton – A Brief Overview of

Our Services:
•  How to properly let your property
•  A rental evaluation
•  Free Advertising for your rental property
•  Accompanied viewings to help you find the best tenants
•  Credit checks for all your prospective tenants
•  A rental guarantee
•  Insurance assistance
•  Preparation of the Inventory (at an additional charge
•  Preparation of legal notices within the Inventory
•  Advice on how to comply with the UK’s safety guidelines
•  Collection and accounting of the tenant’s monthly rent
•  Annual checks for gas safety (at an extra charge)
•  Property inspection
•  Competitive quotations and (upon our approval), arranging for repairs
•  Contacting the renter for renewals or check-out