Landlord FAQs
Why should I use a letting agent?
Using a letting agent means that as a landlord you don’t need to sacrifice your personal time and take on the associated responsibility for letting out and managing the property. When looking for an agent consider factors such as how they will market the property, how they will conduct viewings, their high street presence and their available pool of quality tenants. For a downloadable free checklist on how to select the right letting agent to ensure the protection of both your money and your property by partnering with a professional agency click here.
I don’t have the time to manage my property, how can you help?
Alongside our Guaranteed Rent service, we offer three other lettings service options to our landlords. No matter how much or little involvement a landlord may want in managing or letting out their property, we have the right level of support available.
How will the rental value of my property be determined?
We will complete a full and free evaluation of your property, taking into account how it compares to other properties in the surrounding area as well as considering local rental market conditions. We can then give you an estimate of its monthly rental value. It is important to remember that if a property’s rental value is over-estimated it may result in an extended empty period (void). Get in touch to get a free rental valuation for your property.
Who will conduct viewings and do I need to be present?
There is no need for you to be present at viewings as long as you have already given us a set of keys beforehand. One of our lettings team will show prospective tenants through the property and will be on hand to answer any questions. We will then provide you with feedback afterwards.
How do I know I am getting a good tenant?
Finding a quality tenant is vital. At Northwood as part of the tenant application process we:
- Conduct identity and residency checks
- Obtain credit references
- Check employer and current landlord references
- Obtain guarantors where necessary
- For non-UK applicants we check that they have the ‘right to rent’
Do I need to change my insurance policy when I let out a property?
In many instances standard home insurance cover will not for a range of scenarios that can arise when letting out a property. It is therefore a good idea to have specialised landlord insurance to cover your property. You will need to insure the property itself and any contents, such as furniture and appliances that you provide. Tenants are responsible for insuring their own contents left in the property.
If I want to let my property do I need to let the mortgage lender know?
Yes. You will need to obtain permission from your mortgage lender to let out your property. If they impose any special conditions you will need to let us know. If the property has a buy-to-let mortgage then permission has already been granted.
What is an Energy Performance Certificate (EPC) and do I need one?
It is a legal requirement for all rental properties in the UK to have an EPC. It measures the energy efficiency of a property using a scale of A-G. The certificate itself is valid for 10 years and can be used for multiple tenancies within that time. Your local office can advise on how to obtain the certificate through a qualified Domestic Energy Assessor.
What happens with the tenant’s deposit once it has been received?
It is a legal requirement that the deposit is registered with one of the three Government approved deposit schemes when the tenant moves in. We have created a Tenancy Deposit Guide for Landlords which explains in simple terms what is required legally.
What is an inventory and how does it work?
An inventory is a record of the condition of the property and its contents. Some inventories are supported with photos and / or video inventories. Once it is completed it needs to be checked and signed by all parties when the tenant moves in. The cost of an inventory will often vary depending on the size of your property and your local Northwood office can help to arrange having an inventory completed. We complete the inventory as part of our service when charging the setup fee.
What is fair wear & tear?
At the end of the tenancy when considering any potential deductions from the tenant’s deposit caused by damage, the principle of fair wear and tear is used. For full details of how the rules apply use our Landlord’s Guide to Fair Wear and Tear.
If I let out a property do I have to provide the tenant with any furniture?
No, it is your choice whether to let out your property unfurnished, part furnished or fully furnished. Any electrical appliances left should be PAT tested and any soft furnishings left must comply with furniture and fire regulations.
Who has to pay the council tax on the property?
A tenant is normally responsible for paying the council tax during the tenancy (as long as this is stated in the Tenancy Agreement). However when the property is vacant the responsibility falls back on the landlord or homeowner.
Who is responsible for the TV licence?
If the landlord provides a television then they are expected to pay for the TV licence. The responsibility on who has to pay for the licence is usually stated in the Tenancy Agreement.
Who organises repairs and maintenance work?
If you are on our fully managed or guaranteed rent service, we take full responsibility liaising with the tenant and coordinating any necessary works approved by the landlord. We have an extensive network of trusted local tradesmen and contractors who are regularly used to complete repairs or vital maintenance work when needed.
What happens if my tenant fails to pay their rent?
We will chase all late and unpaid rent if your property is either on the rent collection or fully managed service. Northwood Legal Services can assist landlords with choosing the appropriate course of action should the tenant not clear the debt or if they fail to vacate the premises. Our Guaranteed Rent landlords can rest assured that they will be paid their rent each and every month regardless of whether the tenant has paid and even if the property is empty. It’s one of the key motivations that landlords opt for this service as it minimises both the hassle and risk involved in letting out a property.
