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Landlord FAQ

How do I know how much rent to charge?

We can carry out a no obligation valuation on your property to access the potential rental value in the current market and suggest a most suitable type of tenant, or advise you how you would be able to get more.

 

How much will it cost me to let my property?

It could cost you from 8% to 12% of the term rent depending on the service you choose. You will also need to consider the cost for EPC, Gas Certificate (if applicable), Inventory and Check-in/out report and cleaning costs. However you can always speak to our property consultants who will help you to identify your needs and will provide you a tailor made solution instead of a standard service.

 

Are there any additional marketing Costs?

No, we will include all marketing expenses in our commission fee.

 

Do I need to be present for viewings?

No, our property consultants will accompany all viewings once keys for your property and access codes have been provided. Prospective tenants often feel more relaxed when the owners are not present.

 

Do I have to stop marketing a home for sale or let if I do not have an EPC?

No. However, you should not undertake any viewings, provide any written information or enter into a contract with a prospective buyer or tenant.

 

If at the point you conduct a viewing, provide written information or exchange contracts, you do not have an EPC, you will be liable to a penalty charge of £200 unless you have ordered the EPC at least 14 days previously and make all reasonable efforts and enquiries to obtain it in time.

 

Do I need an EPC where a tenant is in occupation?

Where a tenant is in occupation before the 1 October 2008 and continues to be in occupation after this date an EPC is not required. If at a later point the tenant changes, an EPC will be required to show prospective tenants.

 

What is a HMO?

HMO stands for House of Multiple Occupancy it is a building or part of a building which meets one of the following:

  • Any building in which two or more households share basic amenities. For example toilets, kitchens, and bathrooms.
  • Any flat in which two or more households share basic amenities. For example toilets, kitchens, and bathrooms
  • Any converted building comprised of one or more units of accommodation that are not self-contained.
  • Any converted building comprised of self-contained flats that does not meet the 1991 Building Regulation Standards, and less than two-thirds of the self-contained flats are owner-occupied.

It is now mandatory duty for property owners of certain types of HMO’s to have a license.

 

How much does an Inventory cost?

Prices vary, depending on the size of your property, however if you wish we could give you a quote and make further arrangements.

 

Do I need an Inventory?

In most cases – YES – If there are any dilapidations at the end of the tenancy it will be easier to prove the state and condition of the property initially given to the tenants.

 

How long does it take to receive my rent once paid by the tenant?

For a long let you should receive your rent by standing order on the rental due date each month. The due date is typically, the date on which the tenant moved in.

 

For short lets you would receive your rent in full prior to commencement of the tenancy.

 

How do I improve the chances of letting my property?

Property should be presented in a clean state and preferably decorated in the neutral tones. Also add a bit of color by dotting around few vases around the house with flowers or decorative twigs. Contemporary paintings and mirrors would give more of a homely feel, etc… Speak to our property consultants for more advise or email lettings@maxwellproperties.co.uk .

 

What notice do I need to serve if my tenant is in breach of contract?

It will all depend on the breach. Most common notices served are:

  • Section 8 notice – a notice that tells the tenant he has 14 days to pay his rent or claim under grounds for nuisance, noise or breach of tenancy.
  • Section 21 notice – this is two months’ notice that tells the tenant you are ending his agreement.

 

How long does it take to get the tenant into court?

Normally it will take 6 to 10 weeks to get the court order, London courts can sometimes take a little longer.

We hope you found these Landlords FAQ’s useful, but if you are still uncertain or concerned about a particular process or a regulation then please let us know by completing the form below.

 

My landlord says she put my deposit into a DPS but did not tell me or pass on any details to me. Could there be a consequence for failing to do this?

If your landlord has put it in one of the DPS’ then the DPS would have contacted you directly. I would casually mention to your landlord that you haven’t received notification from them and ask that they confirm the correct details have been sent to DPS. If they insist that the correct details have been sent then ask them which scheme it is that they are using and look on their website as you can input your details and they will tell you if your landlord has used their scheme. If you do not find that they have registered your deposit, then ask them to do so giving them 14 days in which to act. If they still do not do this then you can tell them that it is your intension to file a claim in the small claims court for the return of the deposit along with compensation of up to 3 times the amount of the deposit + court costs. This is usually enough for them to realise that you mean business and then they will use a DPS scheme. If they do not do this, then complete a N208 form and put it in to the court asking for them to take action.

 

  

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