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Other
Considerations
Mortgage
If your property is mortgaged, you should
obtain your mortgagee's written consent
to the letting. They may require additional
clauses in the tenancy agreement of which
you must inform us.
Leaseholds
If you are a leaseholder, you should check
the terms of your lease, and obtain any
necessary written consent before letting.
Insurance
You should ensure that you are suitably
covered for letting under both your buildings
and contents insurance. Failure to inform
your insurers may invalidate your policies.
We can advise on Landlords Legal Protection,
Rent Guarantee Cover and Landlords Contents
and Buildings Insurance if required.
Council tax and utility accounts
We will arrange for the transfer of Council
Tax and utility accounts to the Tenant.
Meter readings will be taken, allowing your
closing gas and electricity accounts to
be drawn up. All these matters we will handle
for you, however British Telecom will require
instructions directly from both the Landlord
and the Tenant.
Income tax
When resident in the UK, it is entirely
the Landlords responsibility to inform the
Revenue & Customs of rental income received,
and to pay any tax due. Where the Landlord
is resident outside the UK during a tenancy,
he will require an exemption certificate
from the Revenue & Customs before he
can receive rental balances without deduction
of tax. Where we are managing the property
we will provide advice and assistance on
applying for such exemption.
The inventory
It is most important that an inventory of
contents and schedule of condition be prepared,
in order to avoid misunderstanding or dispute
at the end of a tenancy. Without such safeguards,
it will be impossible for the Landlord to
prove any loss, damage, or significant deterioration
of the property or contents. In order to
provide a complete Service, we will if required
arrange for a member of staff to prepare
an inventory and schedule of condition,
at the cost quoted in our Agency Agreement.
What is an Assured Shorthold Tenancy?
Most tenancies will automatically be Assured
Shorthold Tenancies (ASTs), provided the
rent is under £25,000 a year and the
property is let to private individuals.
Tenancies are usually granted for an initial
fixed term of either 6 to 12 months. When
the fixed term has expired the landlord
is able to regain possession of the property
provided he gives two months written notice
to the tenant. In addition, if the tenant
owes at least 2 months or 8 weeks rent on
the property he can apply through the court
to seek a possession order.
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