Property letting

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Whether you have let a property before, or this is your first time, when you let a home there is a lot to think about:

• Is my property suitable to let?
   

• What is an Assured Shorthold Tenancy and when should I use it?
   

• What if the tenant doesn't pay?
   

• Can I get possession if the tenant does not want to leave at the end of the tenancy?
   

• Which bills are my responsibility and which are the tenant's?
   

• What should I insure?
   

• How can an RICS member help with letting and managing my property?

Before you let your property you must make sure, by law, that it and its contents comply with various safety regulations, including:

• Furniture and Furnishings (Fire) (Safety) Regulations 1988, as amended 1993
   

• Gas Safety (Installation and Use) Regulations 1998
   

• Smoke Detectors Act 1991
   

• Electrical Equipment (Safety) Regulations 1994.

You will also need to make sure you have:

• Certificates meeting these regulations where appropriate
   

• An inventory of all items left in the property and a property condition report
   

• Carried out a Portable Appliance Testing (PAT) for all electrical appliances.
   

• Got permission from your mortgage lender if you have a mortgage on your property or told your freeholder
   

• Told your insurers

Using an agent

You can advertise and manage your property yourself, but it can be a lot of worry and hassle. Many landlords use an agent to market and/or manage their property. Make sure you get written confirmation of the agent's terms, conditions and costs for acting on your behalf before signing anything.

Letting agents

Most tenants look for properties through letting agents. Agents who are RICS members follow the right legal procedures to find a suitable tenant. They have a letting code and management code to protect your consumer rights.

In general, letting agents will:

• Advise on the right length of tenancy and rent to charge
   

• Advise whether to let out your property unfurnished, partially furnished or furnished
   

• Promote your property to potential tenants
   

• Handle the letting process
   

• Prepare the all important tenancy agreement (look out for the RICS Assured Shorthold Tenancy model).
   

Managing agents

Managing agents are responsible for day to day management and will:

• Collect the rent and account to you
   

• Hold the deposit. (RICS members follow regulations for holding clients' money, which includes consumer protection)
   

• Make occasional visits
   

• Arrange repairs
   

• Arrange safety certificates and insurance
   

• Arrange the end of the tenancy
   

• Advise you on how to get any outstanding rent and retake possession at the end of the tenancy.
   

Whose responsibility is it?

Who looks after the property and its tenancy will depend on the terms of the tenancy agreement you have. But here are a few of the more usual responsibilities:

Yours to:

• Pay the building insurance

• Pay any ground rent and service charge where applicable

• Insure any items, such as furniture and kitchen equipment, you leave in the property.

• Not discriminate on the grounds of sex, race, sexual orientation, age, religion, marital status or disability.
   

The agents to:

• Get written references for the prospective tenant. Usually these include:
  - Credit referencing check
  - Current and previous employer(s) to confirm both if the tenant is a permanent employee, and their salary
  - Current and previous landlord(s) to confirm whether the rent was paid on time, is not outstanding and that the property was kept in good condition
  - Where needed, guarantor's references.

The tenants to:

• Pay the rent and deposit

• Pay or make a contribution towards the bills, as well as any other costs agreed and stated clearly in the tenancy agreement, such as:
  - Inventory and tenancy agreement costs
  - Administrative charges
  - Responsibility for Council Tax, water rates, gas, electricity, telephone charges, television licence fee, etc

• Return the property to you at the end of the tenancy in the same condition as at the start of the tenancy allowing for fair wear and tear.

How RICS can help you

As the world's largest professional body for chartered surveyors, RICS (The Royal Institution of Chartered Surveyors) offers clear, impartial, expert advice on renting or letting.
As well as offering letting and managing agent services, RICS members cover all aspects of property: from conserving and restoring buildings, buying and selling, and planning home extensions, to homebuyer surveys and valuations, right to light and energy efficiency.
 

or search online www.rics.org/public/find_a_surveyor.html

Click here for a quote and to instruct your survey online

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