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FAQ’s

Is it best to let my property furnished or unfurnished?
How do you check that tenants are satisfactory?
What if I don’t want smokers or pets in my property?
Will I get my money promptly from you?
What if I want to use my own contractors to carry out work on my property?
What duration of tenancy contract do you use?
Can I offset your fees against tax?
Should I let to students?
I am thinking of moving abroad, does this complicate matters?
What’s this about getting permission to let my property?

Is it best to let my property furnished or unfurnished?
It is difficult to give a specific answer regarding this question as circumstances vary greatly. It is therefore better to point out things you should consider when making this decision:
• Your rental income will be increased by letting the property furnished!
• Do you already have suitable furniture?
• Does the furniture you have comply with the Furniture & Furnishings (Fire) (Safety) Regulation 1988?
• What is your target audience?
• You can claim additional tax relief if you let your property furnished

How do you check that tenants are satisfactory?
Right from the very first contact we start assessing a tenant, using our intuition and experience. Once we have found a tenant who wishes to rent your property, we complete referencing forms and e-mail them to Homelet, the UK’s largest lettings reference provider. Homelet check a tenant’s residency, financial profile, landlord’s reference and employer’s reference and confirm that we are okay to proceed. On some occasions Homelet will insist on a Guarantor. In these instances we will reference the Guarantor at no additional charge to the landlord. In addition, when we have obtained satisfactory references we contact you to check that you are happy with the tenant prior to drafting up contracts.

What if I don’t want smokers or pets in my property?
We find that some landlord’s prefer not to let to certain people, eg smokers or those with pets. When we take on your property we check to see if you wish us to exclude any particular tenant groups and we will not show your property to those tenants. In addition, when we have obtained satisfactory references we contact you to check that you are happy with the tenant prior to drafting up contracts.

Will I get my money promptly from you?
At City Lettings your rent cheques are paid into a non-interest bearing account and therefore we have nothing to gain and everything to lose by hanging on to your money. Yes, you will receive your money promptly after the tenant’s payment has cleared.

What if I want to use my own contractors to carry out work on my property?
All of our contractors are fully qualified and carry public liability insurance, despite this we understand that on some occasions you may wish to use your own contractors, e.g. “you know a good plumber”. When we take on your property we check to see if there are any of your own contractors you would prefer us to use and amend our records accordingly. Before instructing a contractor we always check these records.

What duration of tenancy contract do you use?
The Assured Shorthold Tenancy Agreement is a contract between yourselves and the tenant, we will therefore use whatever duration you require on the contract. At the outset we will discuss with you the benefits and pitfalls of using contracts of differing duration.

Can I offset your fees against tax?
Yes, agent’s fees are an allowable expense for tax deduction.

Should I let to students?
Student lets have historically been a niche market, however, with property prices rising and students studying away from home in greater numbers there are some excellent opportunities out there for landlords prepared to market their property in this sector. Like other lets, it is about minimising the risk and with students we ensure that we always reference each individual and reference a guarantor.

I am thinking of moving abroad, does this complicate matters?
In a nutshell, yes! The reason for this is that your income from rent is still taxable in the UK.
In this instance you apply for an approval number with the Inland Revenue and if successful we will pay your rental income gross and then you settle your tax bill by completing an annual return via your accountant. If no approval number is obtained then tax is deducted at a basic rate of 22% at source by ourselves and we pay your tax direct to the Inland Revenue each quarter. As there is extra administration involved in the latter, then a small administration fee is added. For more details on this complex area give us a call.

What’s this about getting permission to let my property?
Yes, you are correct there are certain people you will need to get permission from.
• Anyone you own the property with jointly - As you are giving exclusive possession of the property to the tenant for the period of the tenancy, check with your soon to be ex-wife if she is still a joint owner!
• Your mortgage provider – Most mortgage deeds state that the landlord must obtain written consent to let the property (unless you have a buy-to-let mortgage).
• Your Insurance Company, as if you do not advise them of this material fact it could invalidate any claim you subsequently make.
• Your Superior Landlord – if you own your property leasehold, then you will have signed a leasehold agreement which imposes conditions on how you use the land or behave in the property, including sub-letting.