Whether you want to find a tenant, or are looking for a property to rent, here are the insider secrets on renting you need to watch out for. Naturally this can't be a comprehensive guide, but it will give you pointers in the key areas, and you are welcome to ask us for more details, help and friendly advice. You don't need advice from someone with an "axe to grind" so we keep totally independent of any other organisation and offer a professional, efficient and informative service to both Landlords and Tenants at all times. If you want to let your property quickly to the right tenant at the right rent, while safeguarding your investment and income, the following pages explain how to enjoy the rental experience with Place Finders

Our Promise

Letting your property, be it an investment, or your home, can be a successful and profitable exercise. Place Finders want you to get the most from your property and give you the best advice available. This will give you peace of mind that probably your most valuable asset is being marketed, let and managed to the highest standards by a friendly team dedicated to helping you get what you want from your property.

Letting your property, be it an investment, or your home, can be a successful and profitable exercise. Place Finders want you to get the most from your property and give you the best advice available. This will give you peace of mind that probably your most valuable asset is being marketed, let and managed to the highest standards by a friendly team dedicated to helping you get what you want from your property.

WE HOPE TO BE OF ASSISTANCE TO YOU IN THE NEAR FUTURE.
 

Marketing your property

References

Tenancy Preparation

Utilities and Inspections

Preparing your property

Safety Regulations

Insurance

Taxation

Our services

MARKETING YOUR PROPERTY

RENTAL VALUES

Everyone wants a full market rental to a perfect tenant. The market in Reading is increasingly competitive and we can provide detailed guidance on the market, including achievable rentals, balanced by required time to let, and quality of available tenants at any target rental. Our service is free, and is provided without obligation. This will be based on our experience and knowledge of the current rental market.

FINDING A TENANT - OLD AND NEW WAYS COMBINED FOR BEST RESULTS

Using today's technology we can get more information about your property into the hands of more prospective tenants more quickly than ever before.

But it's not just about speed and numbers. Behind every enquiry, every viewing, and every tenant is an individual, or a family who are working to solve their biggest problem ~ where to live.

We combine technology, market knowledge, people skills to match prospective tenants and properties to achieve get the right result for everyone involved.

And we make the most of New Technology. When you choose an exclusive Place Finders marketing package you will benefit from:

• Daily updated website
• Prominent advertising in Reading's leading property papers
• Free Virtual Tours of EVERY room in your property - never done in lettings before. We have the latest technology that allows us to take one shot 360° Virtual tours, allowing prospective tenants to walk through your property 24 hrs a day, 7 days a week, 365 days a year.
• Eye catching "To Let" boards
• Applicants are kept updated with matched properties at the click of a button. Place Finders' ability to contact more people at once means we can generate immediate interest in your property
• Online viewing requests
• Frequent updates/feedback

INTERNET MARKETING

The Internet is by miles the fastest growing commercial medium, available to hundreds of new prospective tenants every month. Your property will be presented with full details, colour photographs and virtual tours of each and every through our award winning website www.ashleycharles.com and we don't just stop there.

Some websites, like Amazon, and Yell are used as a universal tools by people looking for property to rent. We will advertise your property with a number of the leading sites to reach big Companies and Individuals looking for property to let nationally.

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REFERENCES

A good tenant is a tenant who pays! When a prospective tenant has been found, a holding deposit is taken in order to establish a level of commitment. We then get a credit reference agency to take up references on the prospective tenant. These cover employment, bank, previous Landlord and a consumer credit records (showing county court judgements) to make sure your tenant's will be able to afford the rent.

Individual circumstances, such as redundancy, can affect the tenants ability to pay the rent. Place Finders can refer you to insurance companies that will give you total peace of mind by arranging to have your rent guaranteed. These schemes make sure that your income will be secure even if the rent is not paid. Please ask for more information, some schemes are available at very little cost.

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TENANCY PREPARATION

TENANCY AGREEMENT
The Tenancy Agreement is a legal document and if you are in any doubt over its contents please talk to your solicitor or to us. We use our own Tenancy Agreement except when a Company or Relocation Agency wants to use their own Agreement. Even then you can still talk to us if you have any queries.

The Agreement will usually be an Assured Shorthold Tenancy and will detail the length of the Tenancy, amount of rent due, payment dates, inclusions, exclusions, anything else agreed, such as gardening services included, break clauses etc, as well as many 'standard' clauses required for the type of Tenancy involved.

INVENTORIES ~ TAKING STOCK
To avoid argument everyone should have a list of everything in the property, and it's condition at the start, and end of the tenancy, no matter whether the property is furnished or unfurnished.

We always use an independent, professional Inventory Clerk to take stock and so avoid any disputes about the condition and contents of the property. The inventory is a detailed document which will highlight not just the contents of the property, but also the condition and cleanliness of a property and its contents before the agreement starts

It is a very good idea to have the property in the best possible shape before letting - a tenant will only be expected to maintain a property in the condition in which it is found.

FIRST MONTH'S RENT & DEPOSIT
This is collected by us before the Tenancy starts. The deposit is the equivalent of one and a half months rent and is held by us on behalf of the tenant as 'Stakeholders'. This is then available when agreement is reached between the Landlord and Tenant about how much if anything is needed to cover damages, or cleaning. The Inventory Report helps here to make sure there is a fair straight-forward account of the condition of the property at the end of the tenancy.

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UTILITIES & INSPECTION

ELECTRICITY GAS AND RATES
We will arrange for the transfer of utilities, but not telephone, to the tenant, with the starting meter readings as taken by the Inventory Clerk. You will need to let us know about the relevant companies so we can do this.

CHECK IT OUT!
Our management service includes inspections of the property at least three times a year during the tenancy. This is a general review and not an 'item by item' check. This also gives the tenant the opportunity to raise any questions with us. If there is anything for the Tenant to do, we will let them know and check back later. Please see our Terms and Conditions for further details.

REVIEW AND RENEWAL
About two months prior to the end of the agreement we write to the Tenant, to ask if they want to renew. If they do we will then check with the Landlord and agree any revision to the rent, and supply the right paperwork to each party. If the Tenant plans to move out we will contact the Landlord to confirm that the property should be re-marketed for letting

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PREPARING YOUR PROPERTY

UNFURNISED OR FURNISHED?
We get asked this a lot, and there is no right or wrong answer. Safety is now an import question and as agent we must ensure your soft furnishings meet with current standards. The Regulations are explained later.

You now get the same legal protection when your property is furnished or unfurnished. Furnished properties used to get higher rents but in today there is not much difference, though smaller properties are often let more quickly when furnished.

PREPARING TO LET UNFURNISHED PROPERTIES
The property should be professionally cleaned throughout including carpets and curtains to all rooms. A property can never be too clean at commencement as this is how the tenant will have to hand back the property at termination.

The kitchen should include Cooker, Fridge/Freezer, Washing machine and dishwasher (optional). The remainder of the property can be entirely unfurnished with the exception of carpets, curtains/blinds and light fittings.

PREPARING TO LET FURNISHED PROPERTIES
A fully furnished property should be ready for immediate occupation without the tenant providing anything but their personal belongings (with the exception of TV/video, Hi-Fi) and should include the following:

It is important that furnishings, fittings and décor should be of reasonable quality and in keeping with the style of the property. This will make the property more appealing to prospective tenants, improve your prospects of achieving a fair rental value, avoid continual maintenance and repair of low quality items and, we find, encourages tenants to respect the property as if it were their own.

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SAFETY REGULATIONS

The Furniture & Furnishings (Fire)(Safety) Regulations 1988 & The Furniture & Furnishings (Fire)(Safety)(Amendment) Regulations 1993

Effective from March 1st 1993, Landlords letting residential property must ensure that all upholstered furniture complies with the Fire and Furnishings (Fire)(Safety) Regulations 1988. Generally, these cover the need for fire-resistant filling material to upholstered articles and the passing of a match-resistant and cigarette-resistant test. Failure to do so could result in up to 6 months imprisonment and/or fines up to £5,000.00.

The correct method of displaying compliance is to check that a permanent label is present on all items of furniture. The regulations apply to:

Any items not labelled may not conform to the regulation and will have to be removed from the property.

It should be noted that any furniture manufactured prior to 1st January 1950 is exempt from the regulations.

The Gas Safety (Installation and Use) Regulations 1994

This regulation requires a Landlord to ensure that all gas fittings and flues are maintained in good order, and gas appliances and flues are checked for safety once in a period of 12 months. This must be done by a CORGI registered engineer and it is essential that this is carried out before a tenant takes occupation. A copy of the certificate is to be kept at the property at all times and a copy should also be provided to our lettings department for our records.

The Electrical Equipment (Safety) Regulations 1994

This regulation requires that all electrical appliances, equipment and supply must be safe. Where their safe use requires, appropriate instruction booklets must also be provided. Plugs and sockets that are newly installed must conform to the appropriate British Standard or approved alternative.

The General Product Safety Regulations 1994

These regulations mean that the landlords are required to consider general safety of the tenants in their property. For example, the landlord should supply instruction manuals for the items used in the property. Also, information sheets covering any issues about potential danger points in the property (e.g. sharp objects/hot surfaces, etc.).

Unlike the gas safety regulations, there is no statutory annual testing interval. Yet, in order to meet the requirements, it is still important that all electrical equipment be tested regularly.

Smoke Detectors Act 1991

The Department of Environment introduced new regulations which require any new building (built after June 1992) to have smoke detectors installed. Whilst not yet a legal requirement for other properties, we feel this legislation will soon follow and Landlords can still face serious claims in the event of a fire. We would therefore strongly recommend Landlords to install at least two smoke detectors

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INSURANCE

As a Landlord you need to advise your buildings insurer that the property is to be occupied by tenants. The tenant will be responsible for insuring their own belongings but you should maintain cover for any contents you are leaving at the property.

If you would like more information on insurance products and services that are designed specifically for Landlords, please call us (0118 966 5222) and we can send you a brochure

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TAXATION

You will probably need an accountant to help you with your property income, especially if you will to be living overseas.

Income Tax
The Inland Revenue state that income from property is subject to taxation at standard rates, and your expenses in letting the property are generally tax-deductable (these often can include mortgage interest payments, but will exclude capital expenditure, such as furniture/appliances etc.). You will need to tell the Tax Authorities that you are renting out your property. We can offer general guidance, however, we strongly advise you instruct an accountant if you are uncertain in any way.

Non-Residents
If you will be living overseas you must complete an Inland Revenue NRL1 form (available from us) to enable an agent (whether professional or not) collecting rent on your behalf to transfer this rent on to you without deducting tax at basic rate. Please ask us for more information.

Capital Gains Tax
Again the position varies according to circumstances and we recommend an accountant is consulted for the correct advice.

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OUR SERVICES

We provide three standard service packages. Let Only where we simply find a tenant, Let and Rent Collection where we find a tenant and make sure your rent is collected, and Managed, where everything is left to us. The things most landlords need fall within these three service levels. We can be very flexible and will normally be able to meet any specific needs. The main thing for you to decide is whether you want Place Finders to manage the property, or if you can do this yourself.

Our 'Let Only' service will normally cease once the tenant has moved into the property. However, we still like to remain in frequent contact with our Landlords and Tenants and are always here to answer any questions/queries they may have. This service covers:

Let Only Fee: payable for rental period of up to one year, reduced for second and third year.

The 'Let & Rent Collection' service includes:

Let & Rent Collection Fee: collected monthly from rental payments.

The 'Managed' service is designed for Landlords living abroad or in another part of the UK, or for those who simply don't have time to get involved in the day-to-day management of the property.

Today's tenants can be rather demanding, expecting a dripping tap or broken fridge to be repaired immediately, no matter how inconvenient the moment may be for you. In our managed service we will take care of all repairs and tenancy issues for you. We will also, for your peace of mind, visit the property to keep an eye on its condition.

Why clients prefer us to manage their property:

Fully Managed Fee: collected monthly from rental payments.

Please request to see our Terms and Conditions for full details or contact us to discuss your specific requirements.


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