This page introduces the Abbey Property Landlord Advice Guide. The guide includes everything you need to know from getting your property ready and choosing the right tenants through to successfully and legally running and ending your tenancies.
To get your copy – please enter your name and email address.
Three critical questions to answer at this stage. Please see the full guide to this section here.
Is your property being paid with a mortgage? If so, contact them to get authorisation for a consent to let. Being exactly that, consent to let your property, in turn there may be a small fee and slight increase in interest rate on the repayments.
A property that is let needs to have all the correct certificates in place. These are a Gas Safety Certificate an Electrical Safety Certificate, and a valid Energy Performance Certificate. You should also be aware of landlord advice and legislation around carbon monoxide and install the relevant alarms.
Compliance pays a huge role when renting a property out. Not being up to date could potentially mean un-actionable eviction notices, fines, banning orders, possibly even custodial sentences!
Finding quality tenants can be a difficult feat. Some landlords decide that they will let the property on their own without professional support. If you choose this route there are a number of areas you should start to look at and our landlord advice is that you should proceed with caution so as not to endanger your property.
As an individual you do not have access to property portals such as Zoopla, Rightmove, Boomin’ etc. You will however be able to create listings on sites such as Openrent or Gumtree.
We have a useful article here on writing your advert.
An agent however does have access to nationwide accessible portals, so will have a wider reach of an audience. As well as this, a letting agent may have a database of existing clients that have been looking over the course of 2-3 weeks prior, that they may be able to tap into.
There are loads more articles we have available related to the ‘Research Stage’, all written by our dedicated property experts, go ahead and explore the Landlord Advice Hub.
A descriptive advert plays two parts, it offers complete transparency regarding all the information relating to your property, and in turn, it also limits the number of nuisance or unnecessary phone calls made asking questions that could have easily been included in the advert.
Bear in mind, you cannot discriminate. Whether someone is on means-tested benefits, has pets, or children. Discriminating factors cannot be a reason for whether you accept someone or not.
Look to take a holding deposit based on the initial information they’ve given you. At this stage you will be checking their working history and any adverse credit events such as CCJs.
Based on this information you’d have decided whether they meet initial criteria. And if they do, take no more than the equivalent of one-weeks’ rent as a holding deposit whilst you do referencing.
In the unlikely case they’ve given false information, that referencing has brought to light, you’re legally within your right to retain and keep the holding deposit to cover the waste of time and effort on them.
Your property is a valuable asset and the nightmare of having bad tenants is one you’ll want to avoid. You should therefore make sure you fully vet tenants and check out their references.
The following should be obtained, and looked through with a fine tooth comb for anomalies and discrepancies. Such as fraudulent documents, or amended bank statements.
Alternatively for a fee you can get an external referencing company to do checks for you, for peace of mind you can use them.
Due to recent UK Legislation in terms of what you can charge a tenant, the maximum deposit has been capped at five weeks equivalent of the rent you charge.
It is standard practice to also take the first months rent in advance, with the rent payments commencing the following month onwards.
Secure the deposit with an approved governmental supported scheme. Either the Deposit Protection Service, Tenancy Deposit Scheme, or MyDeposits.
We rave on about inventories, whether check-in, check-out, or mid-term inspection. All are incredibly important! A check-in inventory – will log and record all aspects of the property. From its exact condition, room to room, to the contents, and the fixtures & fittings in the property.
You’ll also record the meter readings for all accessible meters, such as gas and electric, if the water meter is in the property, record that too and take photos throughout.
First up, the tenancy agreement. showing how much rent is to be paid, the deposit amount that was taken, dates of rent due to be paid, as well as much more specifically relating to the do’s and don’ts of what you allow in the property.
Further to this, there is a legal requirement to ensure that hard-copies of a ‘How To Rent Guide’ and ‘Understanding Damp and Mould’ leaflet are supplied to the tenant. You should draw up a document to this effect, and they’ll sign to acknowledge receipt of it. Keep this as evidence for future reference.
Give them a guided tour, explain where gas and electricity meters are. Make the process as easy as possible, your tenants will really appreciate it.
Let the energy suppliers, water company and local council know of the new move-in, the new tenants details, and from that day onwards they’ll be entirely responsible for the bills that are due!
getting consistent rent.
transformed into money making machines.
managed stress-free.
Your responsibilities as a landlord doesn’t end when the tenancy begins. You want to care for your tenants and your property to ensure smooth running.
You’ve got mid-term inspections to conduct, to ensure the property is kept in good condition through the tenancy, and there are no signs of overcrowding to be concerned about.
A schedule of maintenance, to ensure you’re following the legal rulings on timescales that issues need to be rectified, defying these and you’re in breach of legislation!
Amongst this you’ve got other factors to consider, rent increases, money-saving strategies, tenants that overstay, potentially facing rent arrears, renewals, and even evictions!
We have a full downloadable guide to help you oversee all the instances you may find yourself in, share your email address with us below to get it sent over now!
For more in-depth info on getting rent on time, maximising your rental income, dealing with problematic tenants, handling absurd tenant demands, and so much more! Visit our Advice Hub.
As the tenancy has ended, your responsibilities to that tenant don’t end there.
Firstly, knowing what the correct notice period to vacate is, that your tenant is giving the correct time frame as set out in the initial agreement so that you aren’t at a loss. Then conducting a check-out inventory, and ensuring you’re covering all bases to make sure you wont be footing the bill for repair or replacement of anything in the property.
Make sure you know exactly what to look for, how to judge whether areas affected are just wear and tear, or chargeable issues.If necessary, deductions to be made. How to make them, state a case, and follow it through to completion.
To download the full guide please enter your name and email address here.
Tax implications are something to bear in mind when looking to rent a property out, no matter how the property was obtained, whether handed down, or bought with intention to let, it’s classed as taxable income and should be treated as such with any rental income you generate.
This is an area to be extremely knowledgeable about – there’s no point in finding out too late that you owe HMRC more than you have in the bank. Our guide will help you understand the basics.
To download the full Landlord Tax Guide please enter your name and email address here
We have a full guide on property renovation advice where we explain exact facts and figures to help you determine what you should renovate, and how much you spend on it. Direct from our property experts in-house!
To download the full landlord renovation guide please enter your name and email address here
Investing in property is a sure-thing, right? WRONG! Make sure you’re in the know regarding all to do with property investment.
Property is a good way to go, but make sure you make decisions based on good advice – how you finance your property is key as well.
To download the full guide please enter your name and email address here
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Ensuring my landlords are fully protected and well-informed is at the heart of what I do. I’m here to offer guidance and support on compliance, assist with finding reliable tenants, and provide expert advice on selling a house. Feel free to reach out anytime for help with these essential services!
Email – Naeem@AbbeyProperty.com
Office mobile – 07956 072991
Office landline – 01582 932505
I carefully pick tenants who always pay their rent on time, which helps landlords feel secure. I make sure these tenants are really good at keeping up with payments. I also look for buyers who make quick decisions and are ready to buy, so everything moves faster. These buyers have their money ready, which makes buying and selling easy and quick.
Email – Sarmad@AbbeyProperty.com
Office mobile – 07508 184748
Office landline – 01582 932505
Zahid is the one with the vision and the strong team behind him to get it executed. He’s been in the industry since 2008 and brings a huge wealth of knowledge. Since establishing the business, his obsession is the customer experience his team delivers.
Email – Zahid@AbbeyProperty.com
Direct mobile – 07415 233472
Or contact his team – 01582 932505
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