Landlords – James George Group

Property Lettings with James George Group

We provide a high-quality service for our rental customers. Providing advice and support at every stage of the process, we do all we can to make sure your property is let quickly, efficiently and to the right tenants. All of our staff are ARLA qualified so you can ensure that we are always up to date with current legislation. We can help you profit from property.

Guide to Letting Property

We enjoy working with landlords and helping them manage their property and portfolios. When you’re looking to let out a property for the first time, it can feel like a minefield. It’s our aim to ensure your rental property is let to reliable tenants quickly and hassle-free.

Letting out your property involves meeting certain legal responsibilities and carrying out regular safety checks. It is not possible to provide you with a guide listing every legal point or potential pitfall, so we have provided the most common steps.

Costs vs returns

There are many costs associated with renting out a property, so you need to make sure you will make enough money to create a viable income stream. Your rental yield needs to exceed your outgoings, and you need to be prepared for when the property is vacant. Factor in agent’s fees, insurance, mortgage payments, costs for maintenance and safety checks. If you are purchasing a property for rental purposes, you will need to factor in stamp duty, property surveys, legal costs, mortgage fees and income tax. You may also need to pay Class 2 National Insurance if your rental property is being run as a business.

Find a tenant

If you have taken the step above, then your letting agent will help you find a suitable tenant. Decide if you’re happy for your tenants to have pets, bearing in mind that 45% of the UK population own one (Statista, Nov 2020). Check your property deeds to see if you can offer short or long-term lets, as in some cases, there can be restrictions. We are no longer allowed to charge tenancy fees. You will also need to carry out “right to rent” checks, which involve checking a tenant is over 18 years and legally allowed to rent in the UK. If the tenant does not have ID and you need to check their legal status, contact the Home Office.

Tenancy agreements

Before you create your tenancy agreement, think about whether you want your tenant to pay bills for gas, electricity, water and council tax. The agreement needs to state the tenancy period, usually this is 6 or 12 months. It needs to confirm the amount of rent to be charged and the deposit, which you are legally obliged to protect in a deposit protection scheme. By law, you must provide your tenant with your name and address – any rent will not be “lawfully due” until this is done. Also, include a phone number, so they can contact you in an emergency. Once the tenancy starts, you’re obliged to give them the government ‘How to Rent guide, which will give you added protection as a landlord should any issues arise.

Maintaining the tenancy

As the landlord, you have a legal right to carry out property checks, but you need to agree on a mutually suitable time with your tenant to do these. Make sure safety certifications are up to date and check any hazards that could harm your tenant. Carry out repairs and maintenance in a timely manner – after all, you’ll want to keep a good tenant for as long as possible. Hopefully, your tenant will renew their contract and stay with you for as long as you want to rent out your property. But if they do want to end their tenancy, then they will need to give notice, and you will need to return their deposit. You can withhold part of the deposit to compensate for damage but not for general wear and tear; this will involve an inspection.