Preparing your property for rent

Before you think about marketing your property for rent, take a step back and consider how it is going to be presented when prospective tenants come to view. Having a nice clean property with freshly painted walls and clean flooring will greatly appeal to anyone coming to view your property and shows that you as a landlord look after your property and by virtue, expect a tenant to do the same. Before you can start to market and find a tenant you will need to make sure you have a valid EPC (Energy Performance Certificate) which needs to be a minimum rating of E to comply with legislation.

Finding the right tenants

This is sometimes overlooked but is actually one of the most critical parts of any tenancy. Finding the right tenant is the difference between a harmonious relationship between landlord, agent and tenant. Taking the time to find out everything you can about any prospective tenant, what their lifestyle dynamic is and their employment situation will have an impact on whether they are the right fit for both the property and the landlord. Be open-minded about who comes through the door and makes offers, at first they might not seem like the right fit but could turn out to be the perfect tenant.

Your rights and responsibilities

With over 160 different legislations and regulations to comply with when letting out your property, it is essential that you get expert advice so you don’t become liable for something that could have easily been avoided.

Gibson Lane services

Being an independent agency, we can tailor our services to meet any landlords needs and requirements, whether you need your property managed or just find you a tenant, we can talk you through all of the legislation changes and guide you safely through the process. Below is a breakdown of what you can expect to receive from each of our levels of service but if you need any clarification then give us a call and speak to one of our ARLA trained experts:

Tenant find service – 12% inc VAT

This is our entry service where we will give you advice on how best to market your home and what you need to do to comply with all of the different bits of legislation. We will market the property on all of the major portals such as Zoopla, Rightmove and On The Market along with our Gibson Lane website, window cards and social media. We will carry out accompanied viewings, take offers and negotiate to get you the best deal possible. When a tenant has been found we will carry out referencing, advise on the appropriate tenancy agreements, collect the first month’s rent and security deposit and register the deposit on your behalf in a government-backed scheme. We will organise an inventory and check in for your new tenants and after your tenants have collected the keys, provide them with your contact details for any ongoing maintenance issues.

Rent Collection Service – 15% inc VAT

This includes all the services mentioned in Tenant find along with the added benefit of collecting the rent on your behalf and passing it on to the landlord. We will also pursue non-payment of rent and provide advice on rent arrears actions.

Fully Managed – 18% inc VAT

This includes all of the services mentioned in Tenant Find and Rent Collection along with giving you a dedicated property manager who would be your main point of contact after your tenant is in situ. We will conduct regular inspections of the property to make sure your tenants are complying with their obligations and report back to you with our findings, we would organise works on your behalf, such as yearly gas safety checks and any other required works and provide you quotes for larger works and maintenance issues that might be required. We will transfer the utilities into your tenant’s name along with the council tax. Finally, we will advise on the end of tenancy inventory check out dilapidations if there are any, propose costs and negotiate with tenants and return your tenants deposit. This gives you peace of mind that your property is being fully looked after without any stress.

The benefits of management

With access to ARLA qualified property experts, having your property managed by Gibson lane offers more than just letting us deal with issues that arise at the property. We can be your first call for any questions and advice you need. Gibson Lane are members of ARLA Propertymark and the Property Ombudsman. With 24h access to emergency contractors, you can be assured that we will always have people able to attend to any property emergency who don’t charge a fortune. Giving your property to Gibson Lane gives you the peace of mind you need.

Landlords Living Overseas

If you own a rental property in the UK, but live abroad for a period of 6 months or more, then you are classed as an Overseas Landlord. You will need to register with HMRC as a Non-Resident Landlord (NRL) and the scheme sets out rules around how you pay tax on your rental income. The scheme requires a UK letting agent to deduct 20% tax from any rent they collect for non-resident landlords, which is held and paid to HMRC on a quarterly basis throughout the year. You can apply to HMRC for approval to receive your rent with no tax deduction or you can set this off against your own tax bill at the end of the year. Further information can be found here.

Why use Gibson Lane

Gibson Lane are a long-standing independent agency with a highly experienced team with expert local knowledge. We can give our personal insight into the area, the pro’s and con’s and comparable evidence to explain our pricing. We are an award winning agency who pride ourselves on our customer service and going above and beyond to help our clients, no matter how obscure the issue and with easily accessible offices, you can always pop in to meet us.

We are the only call you will need to make to help with all of your property needs.

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