One of our primary objectives has always been to differentiate ourselves from other letting agents by providing a service to Landlords that is second to none. Our aim is to completely satisfy the clients requirements in order that we may have a long and lasting relationship during the time that a property is let.

We believe that we have created the foundations of the company on this basis by the fact that the percentage of new clients introduced by personal recommendation is extremely high, and the percentage of clients lost to other agents since our foundation in 1993 is virtually zero.

A Landlord’s ambition when letting a property is to achieve the best rental possible for as great a proportion of the year as is feasible. Not only this but they must have the reassurance that the tenant is suitable for their property. Exmouth Property Rentals Ltd. aim is not just to find tenants for properties but to find the right tenant for the right property.

Landlords often make decisions based on cost but it is important to ensure that you ask your agent for details of the organisations they are regulated by and which Client Money Protection they are covered by. Exmouth Property Rentals Ltd.  can offer all their Landlords peace of mind when it comes to Client Money Protection as they have been appointed as a SAFEagent.

This guide has been compiled to inform Landlords, prior to letting, of the basic information they may require regarding the ‘ins and outs’ of the letting process. However, it will not answer all the questions you may have and, should you require any further information, no matter how basic or complex it may be, please do not hesitate to contact us.

Valuation

Our initial valuation of your property (or properties) and advice on the letting market is unbiased, without obligation and free of charge. We believe a Landlord should have no reservations in fully exploring the letting market and the potential of their property prior to putting their property on the market or investing in rental property.

Our estimate of the achievable rental of your property will be based on our experience and knowledge of the prevailing market conditions at the time. Generally, we believe it is better to be flexible on rental price to improve response from applicants, rather than hold out for a higher rent and have little or no response. This is particularly true when the property is available in the imminent future.

Furnished or Unfurnished?

This is a frequently asked question to which there is no right or wrong answer. Safety is now of paramount importance and as your letting agent we must ensure your soft furnishings comply to current regulations – these Regulations are explained later.

Unfurnished

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 a cooker. The remainder of the property can be entirely unfurnished with the exception of carpets, curtains/blinds and light fittings.

Furnished

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:

Kitchen: Cooker Electric Kettle Fridge/Freezer Iron & Ironing Board Washing Machine/Dryer Vacuum Cleaner Dishwasher (optional) Broom Microwave (optional) Dustpan & Brush Matching Dinner Service Mop & Bucket Cutlery & Kitchen Utensils Crockery Set of Saucepans & Frying panLounge: Three Piece Suite Coffee Table Table lampsGarden: (Should be left in a manageable, ‘seasonal’ order) Dustbin Lawn Mower Gardening Tools

Bedrooms: Each bedroom should have: Bed & Mattress in good condition Pillows & Duvet Wardrobes Dressing table & stool Bedside Table & Lamp Mattress CoversBathroom: Bathroom Cabinet Electric Shower (optional but preferable) Shower Curtain (if applicable) Mirror Bath & Pedestal MatDining Room: Dining Table with Chairs (suitable for size of property) Sideboard or equivalent PlacematsGarage: (Should be left empty with keys) Hosepipe

It is important that furnishings, fittings and décor should be of suitable 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 optimum 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.

Safety Regulations

The Furniture & Furnishings (Fire)(Safety) Regulations 1988 & The Furniture & Furnishings (Fire)(Safety)(Amendment) Regulations 1994

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. 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:

• Three-piece suites, armchairs & sofas
• Beds, headboards, mattresses, divans & bed bases
• Sofa beds, futons & other convertible furniture
• Nursery & children’s furniture
• Loose, stretch & fitted covers for furniture
• Pillows, scatter cushions & seat pads
• Garden furniture suitable for use in a dwelling.

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 Gas Safe Engineer and the certificate issued to existing tenants and any new tenants before they move in.

Electrical Safety Regulations 2020

The Electrical Safety Regulations 2020 came into force on the 1st June 2020 and they apply to all new tenancies from 1st July 2020 and for all existing tenancies the regulations will come into force from the 1st April 2021. The regulations require that all wiring within the property must be inspected by a qualified electrician and must be undertaken before any tenant takes up occupation. We will be obliged to supply the tenant with a copy of the report to prove that the test and inspection has taken place. These tests will be required to be carried out at intervals of no more than five years.

Smoke Detectors Act 1991

The Smoke Detectors Act 1991 was introduced by the Department of Environment which requires any new building (built after June 1992) to have smoke detectors installed. Legislation has recently been introduced requiring a working smoke alarm on each floor of a property to be let. Also Carbon Monoxide alarms are also a requirement for properties with gas or solid fuel heating.

Marketing Your Property

Your property will be marketed to local, national, and international businesses, Relocation Agents and private applicants. The property details will feature on our own website and on other web portals allowing anyone in the world to access the information. We also strongly recommend you allow us to erect a “To Let” board.

The nature of the agency business determines that the duration of this process can vary greatly according to market conditions and demand for particular property-types prevalent at the time of marketing.

We provide ‘Property Availability Lists’ for prospective tenants, detailing all properties, which we are currently marketing.

As from 1^st October 2008 legislation requires us to have available an Energy Performance Certificate (EPC) before a property can be marketed. The EPC is valid for ten years and will rate a property’s energy performance and make recommendations about how to improve the energy efficiency of the property. We can arrange for our Domestic Energy Assessor to provide an EPC for you if required.

From 1^st April 2018, all landlords of privately rented domestic and non-domestic property in England or Wales must ensure that their properties reach at least an Energy Performance Certificate (EPC) rating of E before granting a new tenancy to new or existing tenants. The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 establish a minimum level of energy efficiency for privately rented property in England and Wales

We are very conscientious regarding finding quality tenants but we also recognize the importance of good applicant/tenant relations. Our company policy also differs in our approach to applicants, who tend to be given short shrift from other agents.

When a suitable tenant is found we will negotiate the terms of the tenancy (price, term, inclusions, exclusions, special clauses, break clauses, options to renew, deposits, etc, etc) and apply for references prior to drawing up the Tenancy Agreement. Needless to say, this process varies greatly in many instances so please call us to discuss any permutations and ‘what-if’ queries you may have.

References

References are taken via a professional referencing and credit check company. References returned as ‘Acceptable’ are considered satisfactory and we will discuss with you any references not issued with this rating. You will also be issued with a quotation for Rent Guarantee from the Reference Agency for extra peace of mind, if required.

Tenancy Agreement

The Tenancy Agreement, once signed by both parties (i.e. Landlord and Tenant), is a legally binding document and if you are in any doubt over its contents please refer to us or your solicitor.

The Agreement (for private tenancies this will usually be an Assured Shorthold Tenancy Agreement) will detail the duration of the Tenancy, rent due, rent payment dates, inclusions, exclusions, any clauses mutually agreed beforehand (such as inclusion of gardening services, break clauses etc), as well as many ‘standard’ clauses required for the type of Tenancy involved.

Inventories

It is in everyone’s interest to have a full Inventory and Schedule of Condition report at the beginning and at the end of the tenancy, no matter whether the property is furnished or unfurnished.

We will always prepare an Inventory and Schedule of Condition Report. 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 prior to the commencement of the tenancy. It is therefore a very good idea to have the property in the best possible shape prior to letting – a tenant will only be expected to maintain a property in the condition in which it is found.

First Month’s Rent and Deposit

This will be collected by us from the Tenant prior to the commencement of the Tenancy. The deposit is equivalent to five weeks rent and is held on behalf of the tenant. We hold the deposit as ‘Stakeholders’ which means that, at the end of the tenancy, agreement must be reached between Landlord and Tenant regarding the amount (if anything) to be withheld from the deposit for damages, breakages, cleaning etc. – the Inventory Check-Out Report here is vital in order to give a fair and impartial account of the condition of the property at the end of the tenancy.

Landlords and Tenants can rest easy knowing that Exmouth Property Rentals Ltd have joined the SAFEagent campaign, where Landlords’ and Tenants’ monies are protected by a Client Money Protection Scheme.  We want every Landlord and Tenant that we welcome through our door to have peace of mind when it comes to Client Money Protection and we can now reinforce this as we bear the SAFEagent logo.

Utilities

We will arrange for the transfer of utilities (except telephone) into the tenants’ name, with the starting meter readings as taken by the Inventory Clerk. Please advise us of the names and addresses of the relevant companies in order for us to do this.

Insurance

Landlords should ensure that their buildings and contents are adequately insured. The tenant will be responsible for insuring their own belongings but you should maintain contents insurance of any contents you are leaving at the property. We are able to offer Landlords comprehensive Buildings and Contents insurance cover, specifically designed for rented properties, through HomeLet. Full details are available on request.

Our Services and Fees

1.) Our service can be tailored to suit your needs but the main thing for you to decide is whether or not you require the agent to manage the property during the term. Our ‘Tenant Find Service’ will normally cease when the tenant has moved into the property although we will be involved in the check out procedure when the Tenant vacates. The fee for this service will be £720.00 inclusive of VAT (£600.00 plus VAT) unless otherwise agreed in writing.

OR

2.) The ‘Full Management Service’ is suitable for Landlord living abroad or in another part of the UK, or for those who simply don’t want to be involved in the day to day management of the property, (i.e. arranging repairs, collecting rent, arranging cleaning or other remedial work at the end of the Tenancy etc.) Please see our Terms and Conditions or contact us to discuss your specific requirements. The fee for this service will be 15% inclusive of VAT (12.5% plus VAT) unless otherwise agreed in writing of each month’s rent.

The fees under the above service are payable when any individual or organisation enters into an agreement to rent the Property as a result of our promotion, introduction, or viewing by the Agent.

Additional Charges

Minimum Fee

Where the Landlord cancels the Agent’s instruction to provide a Full Management Service the Agent will charge and the Landlord will pay a fee based upon 15% inclusive of VAT (equivalent to 12.5% plus VAT) of the agreed rent for the period not exceeding six months from the commencement date of the tenancy.

VAT is payable at the prevailing rate on all our fees.

Inspections

Our management service includes quarterly inspections of the property during the tenancy. This is a general inspection and not an ‘item by item’ check through the inventory and also gives the tenant the opportunity to raise any queries with us. Should there be any areas for attention by the Tenant, we will advise them accordingly and make a repeat inspection.

Renewing the Tenancy

About two months prior to the end of the Tenancy we will write to the Tenant asking if they want to renew (subject to the Landlords approval). If they do we will then ask the Landlord for approval and negotiate any rent increase and supply the relevant paperwork to each party. If the Tenant intends to vacate at the end of the term we will contact the Landlord to confirm that the property should be re-marketed for letting.

Taxation

It is likely that you will require the services of an accountant to assist in the declaration of your property income, especially if you are to be resident overseas.

Income Tax

Income from property is taxable at standard rates, though your expenses in letting the property are generally tax-deductible (these often can include mortgage interest payments, but will exclude capital expenditure, such as furniture/appliances etc.). The situation obviously varies with individual’s circumstances so please consult us with any queries (or we can refer you to an accountant).

Non-Residents

If you are to be resident 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.

Peace of Mind

Landlords can rest easy knowing that Exmouth Property Rentals Ltd. are members of the National Approved Letting Scheme (NALS) and also appointed a SAFEagent, where Landlords’ and Tenants’ monies are protected by a Client Money Protection Scheme. We want every Landlord we welcome through our door to have peace of mind when it comes to Client Money Protection and we can reinforce this now we bear the SAFEagent logo.

Exmouth Property Rentals Ltd. are also a registered Agent with The Property Ombudsman.

In Conclusion

Letting your property, whether it be an investment property, or your home, can be a successful and profitable exercise. Exmouth Property Rentals Ltd want to help you achieve the most from your property and give you the best advice available. This will give you peace of mind that probably your property is being marketed, let and (where applicable) managed to the highest standards by a friendly team dedicated to their job.