There are now many lettings agents, but extremely few are personally operated by qualified property professionals.
As an individual Jonathan Atkinson, Bsc, MRICS, FNAEA, a chartered surveyor, has been successfully involved with residential property for over twenty years, having commenced his own practice in 2000.
It is the policy of Atkinson Loller to provide a truly individual comprehensive service, so that the absent owner can relax in the knowledge that their property is being carefully looked after.
Our management Service Includes:
• Selection of tenants, including checking of references.
• Preparation of tenancy agreements.
• Preparation of inventories, including furnishings and decorations.
• Advising on rent.
• Obtaining deposit from tenant.
• Rent collection and preparation of regular statements.
• Arranging repairs.
• Regular internal and external inspections.
• Attending to routine management enquiries from tenants, local authorities etc.
Your safeguards:
• We are professionally qualified property professionals (not just members of a trade organization).
• We are required to adhere to a strict Code of Conduct imposed by our professional organization, The Royal institute of Chartered Surveyors.
• Whilst we take care to avoid problems with tenants, we are able to offer a comprehensive insurance scheme to our clients to protect them against the costs of obtaining possession and lost rent, in the event of a dispute with the tenant.
• All money is kept fully bonded and separate “Clients Bank Account” and our accounts are independently checked at regular intervals. Professional indemnity and third party insurance are held.
Type of Tenancy
Since the passing of the Housing Act 1988, most lettings will be “Assured Short hold Tenancies.” We normally recommend using this format for a minimum initial fixed term of 6 or 12 months, although other periods can be agreed. The landlord is committed to the initial fixed term.
However, as a result of recent “Unfair contract terms” legislation, the Tenant may now be able to leave after the first three months of the fixed term, but only if he/she can find a suitable alternative tenant who is acceptable to the Landlord (the Landlords approval not be unreasonably withheld), and if the Tenant pays to the Landlord any reasonably incurred expenses.
If the Landlord requires possession at the end of the tenancy, then at least 2 months should be served using the prescribed form. It should be noted that if the tenant fails to leave, then its is still necessary to approach the Court to obtain a possession order, although procedures are now much quicker and easier than they were a few years ago…
Mortgages
If you have a mortgage on the property, you should obtain the consent of the lender prior to arranging any letting. We will assume that you have their consent, unless you advise us otherwise. They may have special requirements which must be incorporated into the tenancy agreement.
Income Tax
If you make a profit from the letting, then you may be required to pay tax at the appropriate rate. Different tax rules apply to Landlords living overseas. If approval is not obtained, then tax may have to be deducted from rents before they are credited to your account.
However, as letting agents approved under the Inland Revenue Non-Resident Landlords Scheme, we will help you to complete the necessary forms, and upon approval will be able to send rents to you without deduction of tax. As part of the Scheme, we are required to send Inland Revenue and annual statement of your income and expenses. You may also find it useful to appoint a qualified accountant to deal with your tax affairs whilst absent.
Insurances
It is important that you notify your existing insurers that you intend to let, because if you fail to do so, it could affect your policy and cover. We have been appointed agents for Homelet, who are able to offer, rent Guarantee Insurance, Legal Protection Insurance together with specialist Building and Contents insurance for let properties.
Furnishings
In the case of furnished lettings, it is essential that all soft furnishings comply fully with the current fire safety regulations. Failure to do so is a criminal offence. For short term unfurnished lettings, we recommend that you leave carpets, curtains and a cooker. This will make it much easier to find a tenant.
Repairs
In most case, the landlord is responsible for repairs to the structure and exterior if the property (including drains, gutters and external pipes). This liability also extends to the maintenance of the installations for supplying gas, water and electricity, the repair of sanitation appliances and appliances used for space and water heating. A valid Gas Safety Certificate should be provided before the commencement of the letting, and annually thereafter. Tenants are usually required to keep the interior in good repair and decorative condition (fair wear and tear excepted).
You should appreciate that if you are away for say a three year period, during your absence there is a tenancy change every six months, then it is difficult to blame one particular tenant for deterioration of internal decorations, unless of course some obvious damage has occurred. Owners remember what there house was like when they went away and expect it to be the same when they return. They forget that if they had lived in the house for the same three year period, the property would also be likely to need some attention.
Outgoings
We normally make the tenant responsible for paying for council tax, water charges, electricity, gas, telephone and fuel bills, you should arrange for your own final readings to be taken prior to your departure.
Management Agreement
If you instruct us to act on your behalf, we will enter into a formal Management Agreement which sets out the terms agreed, It also gives mandates for certain payments to be made from rents collected, and authority to order repairs (up to pre-agreed limit). This agreement may be terminated by either side upon giving one months notice.
Let Only
We also provide a tenant finding service where full management is not required. Please contact the office for more details.
We hope that this has been helpful. If you require any further information please do not hesitate to contact us.
