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 will 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.
It’s important to establish the right rental rate, 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.
The law now 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.
An inventory is a list of the contents of your property, and the condition of the contents and the house itself. 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.
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.
All large HMO (house of multiple occupancy) properties require a licence, which can be obtained from the local council.
Often, the letting agent / property manager will collect rent on the landlord’s behalf. 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 prior notice.
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.
Usually, you’ll have to give your tenant 90 days’ notice, in writing, to end a tenancy. In some cases, this is reduced to 42 days (speak to our team for further details). Should you choose to end your tenancy for whatever reason, we’re on hand to guide you through the process.
The 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.