Renaissance Property Management. Homes to let in Peterborough.

When you contact us we will arrange with you a free, no obligation visit to your property. We will discuss our services and advise you on the expected rental you could achieve and any changes your property may need before letting. We can also discuss any particular restrictions that you may wish to impose on incoming tenants.
It is important when setting the rent to set it at a level that will make the property easy to let. Therefore, any landlord who insists on a rent level that is higher than the normal for that type of property can expect to wait a longer than normal time to rent the property.

2. PROPERTY REQUIREMENTS (TOP)

It is important when you vacate your property that it is thoroughly cleaned and the gardens tidied to make it attractive to prospective tenants and to encourage them to keep it in the same condition during their tenancy.
If you wish to have a tenant keep your property neat and clean, we suggest you consider the following points before you vacate the property:

1. Have the carpets cleaned, if required.
2. Have windows cleaned inside and out.
3. Touch up marked paintwork and wash down walls and woodwork where applicable. Repair any damage to wallpaper.
4. Leave kitchen surfaces clean, especially the hob and oven if left in the property.
5. Wash curtains, if necessary, and leave hanging properly.
We would also insist that you make sure that the property is in good order with regard to wiring, plumbing, appliances, frost protection and damp.

As regards the internal decoration and carpets, these would be assessed during our visit and any improvements will be suggested.

During the tenancy the garden maintenance is the responsibility of the tenant. However, with properties that have particularly large gardens we recommend that a gardener is employed and that this extra cost be reflected in the rent. Tenants may not always have time to maintain large gardens to the standard that you desire.

If you are not able to arrange cleaners or gardeners then we are able to provide these through our maintenance section and you should discuss this matter with us so that arrangements can be made for work to be carried out.

When you vacate it is also useful if you can leave behind any information you think may be of value to the incoming tenant:

1. Refuse collection day.
2. Local shops, buses and schools.
3. Information about anything in the property that is a little unusual.
4. Manuals and instructions for appliances (There is now a legal requirement that every appliance has a manual supplied with it, for the information of the tenant).
5. Label stopcocks.

3. KEYS (TOP)

We require two full sets of keys, (including window keys and all outbuildings) to the property. One of these sets is for us and the other for the tenants.

4. FURNISHED OR UNFURNISHED? (TOP)

Landlords often ask our advice on whether to let a property furnished or unfurnished. There are several reasons why we would generally recommend that it is more sensible to let unfurnished.

Firstly for any periods that the property is unoccupied, the owners of furnished properties receive no exemption on water rates and council tax, therefore the landlord is liable to pay these for any period that the property may be empty. If the property is unfurnished there is normally 6 months grace allowed before the landlord has any liability for council tax and there is minimal liability for water rates.

Secondly, if the property is let furnished, all soft furnishings must come up to guidelines set out by the furniture and furnishings (Fire) (Safety) Regulations. A detailed guide to the regulations can be obtained from the Department of Trade and Industry and we strongly advise that you assure yourself that all furniture and furnishings comply with these regulations.

Furniture purchased before 1950 is exempt to the Fire Regulations.

Thirdly, any appliances or furniture left within the property have to be maintained by the landlord. The landlord is responsible for repairing and replacing appliances left in the property and often if these are of poor quality then the continual cost of maintenance is an unnecessary burden.

What is more, all electrical appliances must confirm with the Low Voltage Electrical Equipment Regulations of 1989.
Finally, tenants tend to respect the property better and treat it as more of a home when they have their own furniture and belongings in the property. Also, with the extra burden of removals, they are less likely to move quickly and consequently are more likely to be long term tenants.

If you decide to let the property furnished, then we suggest that you do not leave any items that are not easily replaceable. Any items of value left at the property are done so at the landlord's risk.

If you leave items in outhouses or garages, these buildings should be lockable. It is unreasonable to make tenants responsible for items left in insecure outhouses.

5. MARKETING YOUR PROPERTY (TOP)

From the date that you confirm that you wish to let your property, we will advertise it in the local papers and call tenants from our property register who may be interested in your particular property. Your property will also be shown on our popular website.

Suitable tenants who wish to view will ALWAYS be accompanied by one of our representatives and then asked to report to our office if they are interested. Their references can then be checked.

6. TENANT SELECTION (TOP)

From our property register and from advertising we will use our experience to select suitable tenants for the properties available. Relevant references will be collected, and often a guarantor will also be requested. If the tenants live locally we may also carry out a property inspection of their address to see the manner in which they live. In addition, experience has shown that good interview techniques will eliminate most undesirable tenants.
At all times we endeavor to select the best tenant for the property and if there are any doubts at all then the tenant will not be housed and it is certainly not the case where the first applicant to apply will necessarily be the one accepted.

7. TENANCY AGREEMENTS (TOP)

We find the most secure type of tenancy is the Assured Shorthold Tenancy as the landlord has available new mandatory grounds for possession at the end of a given period, regardless of the reason for wanting possession. This has substantially reduced the tenant’s security of tenure from those previously enjoyed under the 1977 Rent Acts.
An Assured Shorthold Tenancy has no minimum period but we recommend that the initial contract be for the period of six months.

By nature of the contract it is agreed that during the tenancy period the landlord is not able to repossess the property except if the tenant has seriously breached the terms and conditions, but the landlord can repossess the property at the end of the contract.

Should the landlord require repossession of the property at the end of the tenancy period then it is necessary to serve the tenant at least 2 months notice. The 2 months notice must coincide with the next payment date for the tenant.
We will advise you when the tenancy is due to expire and ask if you wish notice to be served.

Once the initial contract has expired the landlord has the choice of either offering the tenant a new contract for another set term or he can decide merely to extend the contract. If the contract is renewed then the procedure for serving notice is as above. If the contract is extended indefinitely then the landlord need only give two months notice (from the next payment date of the tenant) to inform the tenant he wishes to have the property back.

8. COLLECTION OF DEPOSIT (TOP)

We will, prior to the tenant moving into the property, collect a deposit from the tenant normally equal to one month's rent. This deposit will be held by The Deposit Protection Service for the duration of the tenancy as a safeguard against any damage that the tenant may cause or against any rent that may not have been paid.

9. INVENTORY AND SCHEDULE OF CONDITION (TOP)

We will, prior to the commencement of any tenancy, complete a video inventory together with a brief written summary.

Please note that we will not be able to check the working of electrical appliances and would expect the landlord or ingoing tenant to indicate any problems. Neither will we list stored items in loft spaces.

This inventory is then used to check the condition of the property when the tenant vacates. The tenants are only obliged to leave the property as they found it, and if there are any decisions over damage that need to be made when a tenant vacates we will use the inventory to make these.

10. BUILDINGS AND CONTENTS INSURANCE (TOP)

You, as the landlord, are responsible for the buildings insurance during the tenancy. The tenants are responsible for arranging cover on their own personal belongings.
If your property is mortgaged you must therefore consult with your building society or bank to check of your policies are still valid when the property is let. If acceptance is given make sure that you obtain a letter from them to stipulate the new terms and conditions of your policies if you continue to use them.
Also, please remember that many insurers insist on regular inspections at empty properties. Check your policy NOW to make sure that your cover is not invalidated whilst your property is left empty.
You may find that your building society or bank may increase your insurance premiums if your property is rented.

Alternatively, therefore, we can recommend insurance through LetsXL. This is a comprehensive policy specially designed for landlords letting their residential property unfurnished, part-furnished or furnished.
The policy is available for buildings and/or contents cover.

11. LEGAL PROTECTION INSURANCE AND CREDIT CHECKS (TOP)

We would emphasize to all our landlords that the majority of our tenancies proceed without any problems.
However, minor problems with tenants do arise from time to time and there will always be a slight risk when letting your property. No matter what references are taken for a prospective tenant problems can occur. A perfectly respectable and financially sound tenant with good references can soon become a problem if, for instance, they lose their job or suffer a marriage breakdown.

With this in mind, and the fact that the landlord is responsible for the legal and court fees involved in repossessing the property from a bad tenant, we will, where appropriate, put a rent and legal costs insurance policy in place at no cost to the Landlord.

12. DOMESTIC BILLS (TOP)

WATER RATES - these are paid by the tenant and we will inform the water authorities when any new tenants move into the property. When the property is vacant and unfurnished there is a small service charge payable but if the property is vacant and furnished, then water rates are payable by the landlord.

COUNCIL TAX - liability will remain the responsibility of the tenants whilst they occupy the property. When the property is vacant and unfurnished there is no initial charge payable for six months, but if the property is vacant and furnished, council tax is payable by the landlord immediately, at a discounted rate.

GAS AND ELECTRICITY bills are transferred to the tenant’s name. If you have oil heating, do not leave the tank holding too much oil, as the deposit held may not be sufficient to refill the tank if the tenant leaves it empty.

MAIL - we recommend that you ask the post office to re-direct your mail. We cannot accept responsibility for mail that you do not receive. You may apply for the Mail Redirection Service simply by telephoning Royal Mail.

13. CONSENT OF LENDER (TOP)

If your property has a mortgage you must obtain the permission of the lender before any tenancy commences. They may wish certain clauses to be put into the contract and will usually contact our administration section to arrange this. They may charge you a fee for letting and raise your interest rate.
If your property is leasehold, make sure that the lease allows for sub-letting.

14. TAX LIABILITY (TOP)

Income from rented property is taxable and as a consequence we advise you to contact your local tax office prior to letting your home to clarify your position.

OVERSEAS CLIENTS (not paid via UK)

Persons living and working overseas, including member of the forces, are still subject to income tax on rental income which is treated as unearned income and charged at the basis rate of tax. Under the Taxes Management Act the Inland Revenue assess upon managing agents for overseas clients.

As Agents, we are liable under the Taxes and Management Act 1970, to retain the tax liability of the net rental to make provisions for taxation. Under the new powers contained in the 1995 Finance Act, the Agent is required to account for basic rate tax each quarter on the United Kingdom property income for non-residents. Most non-residents will be able to apply for approval to receive their property income with no tax taken off, but if the agent does not receive this written confirmation from the Inland Revenue, then tax will be deducted from each monthly rental payment to the landlord, as compelled by legislation. For those landlords who do not obtain any exemption certificate for tax deduction, all tax that we pay on their behalf will be accounted for by means of a tax certificate sent to the landlord at the end of the tax year.

Our recommendation, however, is to use an accountant as it may be that you or your spouse has unused personal allowances that may be offset against income.

It is the responsibility of the landlord to declare to ourselves if they are, or intend to become resident abroad at anytime during the term of the tenancy.

TAX ON LETTINGS

The following expenses may be deducted against the gross rental:

Agents fees including VAT
Mortgage administration fees
Vacant property tax
Water rates on vacant properties
Gardening bills
Insurance of buildings
Contents insurance
Legal insurance
Repairs to buildings and fittings
Redecoration
Accountants fees
Wear and tear of 10% of net rental
The full mortgage interest on your property.
The net amount is then the taxable profit.

Please note that our information is for guidance only and to make sure that you MINIMISE ANY TAX PAYMENT WE AGAIN RE-ITERATE THAT YOU SHOULD USE A QUALIFIED ACCOUNTANT.

15. RENTS AND PAYMENTS PROCEDURE (TOP)

Rent from the tenant will be due monthly in advance from the day they move in. However, once the tenant has moved in we allow a few days grace to enable them to make their payment by standing order.
We will pass the rental payment on to you, after deducting our fees and any other disbursements, normally within seven days. We cannot give an exact date of payment every month, or guarantee that you will never receive a late payment, but we will always endeavor to ensure prompt payment.

16. MAINTENANCE AND REPAIRS (TOP)

Section 11 to 14 of the Landlord and Tenant Act 1985 impose certain repair obligations upon the landlord which cannot be contracted out of. Where the tenancy granted is for a period of 7 years or less the landlord is responsible for the repair and maintenance of the following:

(a) The structure and exterior of the premises and of any other part of the building in which the landlord has an interest, including drains, gutters and external pipes.
(b) the installations for the supply of water, gas and electricity and for sanitation including basins, sinks, baths and sanitary conveniences but not other fixtures, fittings and appliances for using water, gas or electricity.
(c) The installation for space heating and heating water.

The landlord's responsibility will be waived where the tenants misuse or negligence can be proven.
There may be other implied repairing obligations on a landlord during a tenancy not covered by the above, which if not carried out could result in a claim for damages by a tenant. It should be noted that the courts have generally found in favour of the tenant where the tenant is no longer receiving the full benefit offered by the property as at the commencement of the tenancy.

As agents we will inform you of any maintenance of a non-urgent nature through our regular inspections by letter and request the necessary instruction. Where the work is required urgently and in the event that delay would cause further expense or damage or in the case of emergency, we are authorised to do whatever work may be necessary, the cost of which the landlord will refund to ourselves. Before commencing any work as such we will attempt to contact the landlord and estimate the cost involved, if requested.

All expenditure will be supported by an invoice or receipt and will be deducted directly from the landlord's rent.

It is extremely important for repairs to be carried out quickly both to safeguard the condition of your property and not to break your contract with the tenants. If work is not carried out within a reasonable period of time this WILL RESULT IN THE ENVIRONMENTAL HEALTH ISSUING A NOTICE OF DEFAULT DEMANDING THE WORK IS DONE. This notice is served on us as agents and regardless of the landlord's instructions we will have to carry out the work.

Gas Appliances - There have been important developments in this area in recent times as these appliances may only be attended to by CORGI registered persons, hence if you have a friend who has previously serviced your boiler as a favour, we will need to see their CORGI certificate BEFORE we could instruct them to attend to an item. Furthermore the gas appliances need to be checked every year. If the landlord fails to provide the agents with a gas safety certificate at the commencement of the management period then the agents will carry out a gas safety check immediately and annually thereafter.

As general advice regarding the maintenance of the property, we would request that details of all service contracts and current guarantees are given to us at the time of instruction.

17. STATEMENTS (TOP)

Statements of income and expenditure will be issued with every bank payment. These will include a breakdown of the VAT, commission and all repairs that have been deducted from the rental.

18. PROPERTY INSPECTIONS (TOP)

Inspections will be carried out 3 - 4 times per year and notes kept in our files. If we are unhappy with any inspection we will arrange a re-inspection shortly after. If we have serious doubts about the manner in which the tenants are keeping the property we will contact the landlord to discuss any relevant action that needs to be taken. Please note that a routine inspection comprises only of a brief visit to the property to generally look out for any serious problems.

General maintenance of a non-urgent nature will also be pointed out to the landlord after these routine inspections.

19. FINAL INSPECTIONS AND DILAPIDATION DEPOSITS (TOP)

In all instances we take a dilapidation deposit usually equal to a month's rent. This is refundable at the end of the tenancy subject to the property being left in good order, fair wear and tear being accepted.

Any dilapidations identified will be charged, where possible against the outgoing tenant's deposit. As agents we have to make judgments upon fair wear and tear - we have to allow people to live in homes but not allow for wanton damages to owners effects. If there are any disputes then AS SUCH THE AGENT'S DECISION HAS TO BE BINDING UPON THE LANDLORD AND TENANT. Please note that whilst we expect to find major dilapidations, there may be minor dilapidations that are not always evident on a final inspection.

We must add that we always aim to be fair and impartial in our decisions. A property cannot be expected to be in exactly the same condition at the end of a letting as it was at the commencement and indeed the internal decoration may need attention after two or three years of occupation by tenants.

Where a property is to continue to be let and there is, for example, a cigarette burn in a carpet, we would generally make a charge for this which would be passed onto the landlord but not replace the carpet, bearing in mind that if letting continues for a further period, extra wear will naturally occur.

Missing items may be replaced or likewise a compensation figure, assessed by Renaissance, will be paid to the landlord.

Please also note that it is not always possible to charge a tenant for the full replacement cost of a damaged item as a betterment is not allowed (i.e. you cannot charge the tenant the full cost of replacing new for old).

Please note that it is not practical to check electrical or gas appliances at the final inspection and therefore any faults in these appliances that are not detected at the final inspection will have to be claimed for separately if the tenants misuse can be proven.

20. LEGAL NOTICES AND TENANT EVICTION (TOP)

With good tenant selection and management we find that evicting tenants is a very rare occurrence.
The reasons for eviction generally fall into two categories:

1. Those tenants who do not move out of the property when repossession is sought by the landlord needing the property back. This is normally quite simply because they have been unable to find alternative accommodation.

2. Tenants who have breached their contract, usually by non-payment of rent and have therefore created the situation where they need to be evicted simply to prevent further problems.
With reference to example one:

The tenant signs the contract before they move in agreeing that during the tenancy period the landlord is not able to repossess the property except if the tenant has seriously breached the terms and conditions, but agrees that the landlord can repossess the property at the end of the contract.

Should the landlord require repossession of the property at the end of the tenancy period then it is necessary to serve the tenant at least two months notice. The two months notice must coincide with the next payment date for the tenant. Please note that once the notice has been served, the tenant can vacate at any time without "residing" to the end of the notice period.

two months notice (from the next payment date of the tenant) to inform the tenant he/she wishes to have the property back.

With regard to landlord repossessing the property for his/her own needs, he/she needs to be aware not only of the time it normally takes but also the time it could take if the tenant has not moved out when asked.
The landlord should be aware that a tenant has the statutory right under the Housing Act Legislation to remain in the property until a court possession order is obtained. After the expiration of the notice, with the new accelerated legal procedure, it is no longer necessary to go to court to gain this court order. The solicitor will deal with the courts in writing and it normally takes about another 6 - 8 weeks to obtain a court order for the tenant to vacate the property.
It should be noted that any actions, taken by the landlord or his/her agent or servants on his behalf, of harassment or attempting to require the tenant to leave before a court possession order is obtained will give rise to a possible claim for substantial civil damages and injunction proceedings under the Protection from Eviction Act.
With reference to the second example:

If the tenant breaches the contract during its term (for example by not paying rent) then a two week notice requiring possession, can be served on the tenant. If the tenant has not vacated at the expiry of this notice the tenant must then be taken to court to obtain a court order. It can take between 2 - 8 weeks to get a hearing and then the courts will normally order possession within a further 28 days, only if there are sufficient grounds.

With the first type of repossession we would hope that the tenant's deposit may cover your costs, although this is unlikely in the second example.

However, it is more likely that any tenant who is being evicted due to breach of contract will vacate as soon as they are aware that legal action may be commenced thus saving the landlord all of the legal costs.

21. SOLICITORS FEES (TOP)

As agents we cannot guarantee against any breach of contract by a tenant during a tenancy and therefore we cannot be held liable or responsible for any problems that may arise. It is the tenant who is liable for any breach of contract and in the case of any such breach we will await the landlord's instructions as to what action shall be taken.

We will administer and attend court at no charge in the case of repossession but the landlord shall be responsible for solicitor’s fees, VAT and disbursements in connection with the collection of any outstanding rental or preparation and/or service of notice seeking possession and any court proceedings.
The landlord can appoint his own solicitor in this respect or request Renaissance to instruct its own solicitor on the landlord's behalf.
If the tenant causes damage to the property which is above the retention of the deposit and the landlord wishes to recoup the cost of these damages, then the matter would again have to be resolved by taking legal action.

22. PROPERTY HANDOVER OR RELETTING (TOP)

When we handover the property to you please note that we cannot apply for the reconnection of services on your behalf. You will need to contact them directly so that they can ask you relevant questions concerning reconnection.
Please note that neither the tenant nor ourselves have any legal responsibility to make sure the phone line is active when the landlord returns. British Telecom will not deal with managing agents and therefore we cannot be held responsible for any reconnection charges that may be necessary.
If you are reletting the property then it may be that the property may need upgrading cosmetically, depending on when work was last done. IT IS A GOOD TIME BETWEEN TENANCIES TO CARRY OUT REFURBISHMENT. We are able to arrange this for you.
Also between tenancies we are able to provide a gardener to keep the garden tidy. We can also arrange for a plumber to drain down your system for a small charge, if the property is to be empty during cold weather. This is not done automatically but on the landlord's request.
However, please note that whilst the property is empty, the maintenance of security and all charges relating to the premises are the landlord's responsibility.

23. SALE OF PROPERTY (TOP)

If you sell the property during the course of the tenancy to the tenant or an investment Landlord introduced by us, then we charge a commission fee of 1% plus VAT if applicable on the contractual price upon the exchange of contracts and this is payable upon completion.

If you intend to market the property whilst the tenant is living there, it must be remembered that to sell the property you will need vacant possession and it is therefore important that the correct legal notice is served on the tenant well in advance. You should discuss the situation with the agent prior to marketing the property.

24. FEES (TOP)

Having detailed everything in our management service, our fees will be at a rate of 12.5% of the monthly rental plus VAT at the appropriate rate.

We aim to provide a professional service to the landlord and our charges are set to reflect this.

N.B THE LANDLORD SHOULD NOTE THAT THE ABOVE TERMS AND CONDITIONS AND MANAGEMENT SERVICES PROVIDED AND THE LETTING CONDITIONS WILL BE SUBJECT TO ALTERATION FROM TIME TO TIME AND ARE ALSO SUBJECT TO ANY STATUTORY CHANGES IN LEGISLATION PURSUANT TO THE HOUSING ACT 1988 AS AMENDED BY THE HOUSING ACT 1996 AND THE HOUSING ACT 2004.