What Costs Are Involved with Letting a Property?
Energy Performance Certificate – A Legal Requirement
It is a legal requirement to arrange for an EPC to be carried out prior to marketing your property.
Contact Clarkes Estates to arrange an EPC from £99.00 Inc VAT. An EPC report is valid for 10 years.
Safety Certificates – A Legal requirement
As a Landlord, you have a legal requirement to ensure that you carry out annual checks of the gas and electrical appliances in the property. At the commencement of each tenancy any carbon monoxide device along with all smoke alarms will also require testing. At the start of each tenancy, Health and Safety legislation also requires Landlords to carry out risk assessments for Legionella bacteria which can cause Legionnaires disease. We have obtained combined safety certificate packages that ensure you carry out all your legal requirements as a Landlord at a competitive price. Contact Clarkes for a quote for your property.
We always recommend that an independent, professional Inventory is taken at the start and end of tenancy; it’s the best way to ensure your investment is protected. A professional Inventory describes the property in detail and includes a thorough list of contents with the exact condition specified. In addition, an extensive photographic record is made.
This document will form the basis on which the return of deposit, or part thereof, is calculated at the end of tenancy. The tenancy deposit schemes require unambiguous evidence for retentions should there be a dispute. Contact Clarkes for a quote for your property.
When a property is fully professionally cleaned prior to the first tenancy, the standard is set for tenancies to follow. Tenants are required to return a property to the same standard of cleaning as received. We can recommend local professional cleaning companies, who will be happy to provide a FREE estimate for you, contact Clarkes for a quote for your property.
We are able to arrange a number of additional services that you may require from property maintenance, furnishings, appliances and purchases prior to the commencement of tenancy. Please advise what additional services you require and we will obtain estimates and revert to you for instruction Contact Clarkes for a quote for your property.
Do you charge for marketing my property?
If you market your property with Clarkes for Rental, we will cover your marketing costs subject to our Terms of Business available on request.
How does it work?
How do you conduct viewings at my property?
All appointments will be accompanied by one of our professional property experts. We will discuss your preferred viewing arrangements prior to the marketing process and work in line with your preferred viewing days and times. All viewings will be carried out during business hours and you will be advised 24hrs before all appointments are carried out. If your property is Tenanted, we will require the Tenants’ names and contact details, so that we can call to introduce ourselves and work with them to arrange access. We are always considerate of the fact that the property we are letting is someone’s home and we try to accommodate viewing preferences.
Should I be present for viewings?
It is not necessary for you to be present for viewings if we have full access, as all viewings are accompanied by a property consultant. Please note that most Tenants prefer to view properties where the owners are not present.
I would like my property fully managed by Clarkes, what does this include?
Clarkes manages a large and diverse property portfolio. With over 100 years of property expertise, we pride ourselves on offering a bespoke service for our Landlords. A fully managed service starts when the Tenant signs the contract at move in, through to the termination of contract and settlement of the deposit return. As a Landlord, you will have access to our exclusive 24/7 My Propertyfile, this is an online dashboard where you can access everything you need to know about your property.
We take the stress out of letting your property. We care for the day to day running of the tenancy on your behalf, from Tenant queries, handling maintenance and repairs, arranging renewal contracts, conducting property visits with full reporting, arranging purchases, inventories and much more. Speak to our property experts who will be delighted to discuss our Full Management Service with you.
How much deposit is requested from the Tenant and what happens to it?
A standard deposit amount is five weeks rent. The deposit is payable by the Tenant at move in. All deposits paid by a Tenant for an Assured Shorthold Tenancy are registered with a recognized deposit scheme within 28 days of the commencement of tenancy. The deposit schemes guarantee that should an issue arise with a return of deposit, they will adjudicate the matter based on the evidence submitted.
How much does an Inventory cost and who pays? Who should arrange this?
A professional Inventory cost will vary depending on the size of the property and if it is presented furnished or unfurnished. The Landlord is responsible for paying for the Inventory at the start of tenancy, and the Tenant is responsible for the Inventory cost at check out. Clarkes can arrange an Inventory on your behalf. A schedule of costs is available click here
What happens if the Tenant reports maintenance?
If you manage the property personally, it will be your responsibility to speak to the Tenants and deal with maintenance required and instruct the appropriate qualified tradesperson to undertake the repair.
October 2015 saw important changes to Section 21 Notices. Should maintenance not be handled appropriately this could impact on a Landlord’s right to gain possession of his property. We are happy to discuss this with you.
If your property is fully managed, Clarkes will manage maintenance via our online reporting system. The facility is accessed via our 24/7 Myproperty file. Accuracy in reporting enables us to quickly instruct the right contractor to get the matter resolved. You will be kept up to date regarding maintenance, estimates and costs. All minor repairs up to a pre-agreed amount (normally £150) will automatically be instructed on your behalf. For any larger maintenance issues, you will receive notification in writing along with corresponding estimates and reports. Our management team will be happy to discuss any queries you may have.
When should I expect to receive my rent?
If you are on our Rent & Collect or Fully Managed schemes we aim to have the rental paid into your account on the rental due date. If the rent due date is a weekend then the rent will be paid on the following Monday.
If you are on Tenant intro only then the Tenant will pay the rent on the rental due date as per the terms of the contract. The Tenant will set up a standing order / online payment at the start of tenancy. It can take up to 3 working days for the rent to clear into the nominated account from the rent due date.
Any other questions?
I want to let my property. Do I need to advise my mortgage lender?
Yes, you must obtain permission from your mortgage lender and inform us of any special conditions that they may impose.
We will require a copy of the conditions in writing.
Do I need Landlord Insurance?
Yes. Being a Landlord is complex and when renting out your property you will need specialist Landlord insurance as your normal household insurance will not cover you for letting. You need to be adequately covered for any eventuality. A Landlord Insurance policy needs to be tailored to your property and personal requirements so you have adequate cover. Using a specialist in Landlord Insurance will help to ensure you have the right policy. We can obtain a quote for you.
I am not a resident in the UK, do I pay tax on my rental income?
If you live abroad for six months or more per year, you are classed as a ‘Non-Resident Landlord’ by HM Revenue & Customs. For further information regarding your tax requirements please click here. We can help you deal with this. (charges apply)
As a transparent agent, we disclose our Fees and upfront so you can be confident in using our service.
For our full list of fees click here
“Clarkes offers all of its landlord clients it’s unique ‘Rent on Time’ Service. Clarkes does not hold client money protection cover as we do not believe that it is appropriate given our unique proposition. Tenants deposit monies are held by Rent on Time Limited in the Tenants Deposit Scheme.”