Looking to let out property in North West London? Take a look at our FAQs below answering the most frequently asked questions by landlords. If you need any further information, please get in touch with our friendly team today on 020 8459 2530.
You must let your mortgage lender know if you’re planning to let out your property, as this may affect the terms of the mortgage, and they may wish to add certain stipulations. If you’re buying a property and want to let it out, you should be able to get a specialist buy-to-let mortgage. Contact us on 020 8459 2530 and we can put you in touch with our recommended mortgage broker to advise you further.
It’s important to establish the right rental rate based on the current market rent to ensure you attract plenty of suitable tenants. The first step is to book a free rental valuation with Regal Estates. We’ve got in-depth insight into the local rental market, and will provide you with a recommended valuation, based on our expertise and knowledge.
What you’ll pay is dependent on how active a landlord you want to be. Many landlords prefer to hire letting agents to manage the property on their behalf, which reduces the workload considerably. We offer a property management service – get in touch with our team to find out how we can support you, and the fees that we charge.
A letting agent (or property manager) takes the stress out of the entire process. We’ve got a range of lettings services to help you – from our Let Only package, to our comprehensive Full Property Management service.
We’ve also got a large internal tenant database, which means we’re ideally positioned to help you find the perfect tenant for your property.
Given the vast amount of law that govern tenancies and ever changing regulation a letting agent or property management company can assist you in staying ontop of this.
The law requires all tenant deposits to be placed in a government-backed scheme. Regal Estates handles this on your behalf, and places all deposits with My Deposits insurance backed scheme.
An inventory is a list of the contents of your property, and the condition of the contents and the house itself including description and images. It’s an invaluable document, as it can be used as evidence if there’s a dispute at the end of the tenancy over the property’s condition etc.
An inventory is a crucial part of the letting process as is the only way to establish the condition of the property as at tenant handover at the start of a tenancy.
You’re required by law to purchase an EPC for your property, prior to letting it out. Also, the house or apartment must have a rating of E or above, otherwise it’s regarded as unsuitable for letting to tenants. This EPC is valid for 10 years.
If you require an EPC, contact us and we can put you in touch with a recommended EPC provider.
HMO (house of multiple occupancy) properties require a licence, which can be obtained from the local council. We are able to assist you with your HMO licence application.
Regal Estates specialise in HMO lettings and property management and can assist you with your HMO property investment needs.
As of 1st October 2018 the law states that landlords who own a property with at least three occupants from at least two different households using the same bathroom, toilet or kitchen, must have a licence to avoid being in breach of the law.
Often, the letting agent / property manager will collect rent on the landlord’s behalf (we do this under our let and rent collection and full management service). They’ll also chase any unpaid rent, and act as the first point of call if the tenant has any problems with getting the rent paid on time.
As a landlord, you have certain responsibilities towards your tenants. For example, it’s your job to ensure that the property is fit for purpose, and safe to live in. You’ll need to arrange regular gas and electricity checks, and ensure that the furniture meets the required safety standards. If you’re providing televisions, you’ll need to cover the costs of the TV licence, unless it’s specifically declared otherwise in the tenancy agreement.
You’re allowed to enter the property when the tenants are in situ. However, in order to do so, you’ll need to provide them with reasonable prior notice normally laid out by the tenancy agreement.
If the tenant damages your property, it’s reasonable to ask them to pay for the costs of fixing it. Alternatively, the costs can be deducted from their deposit at the end of the tenancy. It’s important to note that fair wear and tear should not be regarded as damage.
If we’re managing your property for you, we’ll chase all unpaid rent on your behalf. In the vast majority of instances, we’re able to obtain the outstanding money very quickly. This saves you the hassle of having to chase it yourself. If further action is needed to chase unpaid rent we can also assist with this.
Usually, the terms of the tenancy agreement with the tenant lays out the notice period you can give to the tenant, annd notice for the tenant to vacate is provided via a 'notice to quit' by the landlord.
ARLA Propertymark is the UK’s leading regulatory body for letting agents, and ensures that agencies in the industry maintain high standards when working with consumers.
The TPO is an independent body, that consumers can complain to, if they feel a letting agent doesn’t resolve their issue in a satisfactory manner.
Regal Estates are members of both of these regulatory bodies, and take pride in our professional approach.