FAQ For Landlords

Frequently Asked Questions By Landlords

Are you thinking of investing in buy-to-let? Then it's likely you'll have a number of questions; therefore we've devised this helpful FAQ to provide you with the information you're looking for...

Q -  How will my rental value be determined?

A - Your rental value is determined by the situation of the local rental market and how it compares to other properties in it's area taking into account the size, number of rooms, it's appliances etc. Letting agents can carry out rental valuations for you and will provide you with an estimated monthly value rate - many letting agents do this for free of charge.

Q - Who will carry out viewings?

A - If you have decided to use a letting agents than they can do your viewings for you at any time during their own opening hours - bearing in mind that you need to give them a set of keys. If you decide to carry out viewings yourself, than you need to ensure your available at most times throughout the day to ensure the right people can view your property.

Q - What insurance do I need on my property?

A - If you're going to become a landlord than you need to take out specialised landlord insurance to ensure that you're covered for a range of potential issues that could arise. Standard home insurance doesn't protect you from these potential issues therefore it is important that you take out landlord insurance to insure the property and any contents which you provide your tenants with. Any content that the tenant leaves in the property themselves is their responsibility to insure.

Q - Do I need to let my mortgage lender know if I let out the property?

A - If the property already has a buy to let mortgage than permission has obviously already been granted for you to let the property out. If you have a standard mortgage, than you will need to receive permission off your mortgage lender to let out your home and be prepared to face any specific conditions that they may have.

Q - Do I need to have an Energy Performance Certificate (EPC)?

A - Yes, you must have an EPC if you're going to let out your property as it is a legal requirement. An EPC measures the property's energy efficiency and takes the form of a certificate which is valid for 10 years and can be used for a number of tenants - you do not need a renewed EPC every time you have someone new living in the property.

Q - Who pays the properties council tax?

A - When the property is vacant than it is your responsibility as a landlord to pay the council tax however when a tenant moves in it is normally their responsibility as long as it is stated on their tenancy agreement.

Q - Am I in charge of maintenance and repairs?

A - If you decide not to use a letting agent than it is your responsibility to organise any necessary maintenance and repair work for the tenants. However, if you do use a letting agent than it is most likely that they will have a network of connections in relation to maintenance and repairs and will organise this work when need be. However, as a landlord you must be notified and approve the work to go ahead on the property in advance.

Q - What if the tenant doesn't pay their rent on time?

A - Once again, if you're not using a letting agents than it is your own responsibility to deal with late payments by the tenants. If you do use a letting agent than most likely they will chase up any late payments and hassle the tenant to pay as soon as possible.

Some landlords may add interest if payments are consistently late or will ask them to remove the property so they can find a more trusted tenant.

Q - Why should I use a letting agent's?

A - Using a letting agent saves you a lot of hassle and leaves you stress-free. A letting agent will deal with most of the work involved including rent payments, maintenance work and viewings for the property. Working with a letting agent's is also a good idea if you're working in separate employment because letting your property can become very time consuming and you need to be available a lot of the time to deal with tenants.

Q  - Do I need to provide furniture and if I do, how do I know if it's compliant?

A - No landlord is under any obligation to provide furniture however if you would like too, you could opt for a partly furnished or fully furnished letting. However, if you do provide furniture you need to ensure that it's compliant by ensuring that all furniture displays the suitable labels which comply with fire regulations.

Q - When I let my property, am I able to enter it whenever I like?

A - Landlords are not allowed to show up at the property and enter it whenever they like too - remember it is someone else's home whilst there are tenants living there. If you do need to visit the property, you need to give an appropriate amount of notice to the tenant.

Q - If I'm with a letting agent, how do I receive my rental income?

A - If you are either with a Rent Collect or Fully Managed service with your letting agent than they will be in charge of organising the rent payments either by direct debit or standing order. Your letting agent will then minus any fees necessary such as the agents' fees or maintenance fees and transfer the remaining rent payment to your account which you will receive a statement regarding each month.

Q - How do letting agents market my property?

A - The marketing platforms depend on the letting agent - however, pretty much all letting agents today will use the internet to advertise your property. This could be through large property portals including Zoopla, Right Move and Prime Location and also the letting agents' own website. Properties for let can also be advertised in local newspapers or magazines - it largely depends on where you're letting agents markets or where you individually want your property to be advertised.