Lettings FAQ’s
For letting and renting property
Landlords FAQ's
Frequently Asked Questions and answers about letting your property.
To start your journey, simply contact Richmond Holmes! One of our team of experts will arrange a convenient time for you to carry out a free, no obligation rental valuation and give you all the information you need to start letting out your property.
We’re experts in the market here at Blue Bricks Estates, so we will take into account how it compares to other properties in surrounding areas as well as local rental market conditions. We’ll consider all suitable strategies and advise you the best strategy for your property and what kind of yield you can hope to expect.
Yes, for you to let out your property you will need to obtain permission from your mortgage lender, and they may impose special conditions that you will need to let us know of. If you’re buying a new property you may be able to obtain a buy to let mortgage.
We will accompany prospective Tenants on all viewings, so your presence will not be required. We will provide you with feedback afterwards.
At Richmond Holmes, we register deposits with a scheme such as My Deposits. The deposit is then either held by the landlord, Agent or the deposit scheme itself. The Deposit Scheme is there to protect the tenant’s money and help to resolve any disputes at the end of the tenancy.
An inventory is a record of the condition of your property and all of its contents. We would strongly advise for you to use a professional inventory as it helps protect your property and forms part of the contract between you and the tenant. For example, if there is a dispute at the end of the tenancy, you’ll have proof of the original condition. Blue Bricks Estates can help organise an inventory for your property.
Tenants FAQ's
Frequently Asked Questions and answers about renting a house or flat.
First and foremost, it will be a good idea to write down a budget. Taking into account of all your monthly outgoings and how much you can spend on rent. Before the keys are released you will be required to pay your first month’s rent and also a refundable holding deposit of 4-6 weeks rent.
Referencing is a process that involves providing the tenants background details to the landlord. This is so that we can prove to the landlord that your income is adequate to meet the rental obligations and they can be sure their tenant will take good care of their property. The documents we ask you to provide us include:
• Details and proof of current and previous address
• Employment details
• Income Confirmation
• Proof of ID
• Right to live and work in the UK
• Bank statements and payslips
• Copy of your current tenancy agreement if applicable
A guarantor is an individual who agrees to guarantee the tenancy and tenant. A tenant may require a guarantor if they aren’t approved by the referencing process. The guarantor must pass the same referencing process as the tenant for them to be a suitable guarantor as they will be required to have sufficient earnings to cover your rental commitment and they will be responsible for paying any rental arrears if you cannot, or damages costing more than the deposit.
A tenancy agreement is legally binding contract which details the terms and conditions agreed upon of letting of a property between the landlord and tenant. It’s a comprehensive document that includes the start and end dates of contract, details of the landlord and tenant, details of how much the rent is and when to be paid. All of the rules to which both parties must comply and sign the agreement.
Our property experts at Richmond Holmes will do everything possible to find you a well-suited property but this will vary depending on your requirements, however the average time between the offer and settling in is 10-14 days.
When you come to visit Blue Bricks Estates and register your interests with us, we will start searching for the right property and arrange viewings for you. We will liaise between yourself and the landlord and set a convenient date and time. We will accompany viewings on request so you wouldn’t have to worry about going on your own. You will get sufficient time to look around and ask any questions you may have.
FAQ – Landlords
Frequently Asked Questions and answers about letting property.
Q. How do I start renting my property out?
Q. How do I know how much rent to charge?
Q. Do I need to inform my mortgage lenders?
Q. Do I need to be present for viewings?
Q. What happens with tenants deposits?
Q. What is an inventory? Do I need one? and can you arrange an Inventory for my property?
Q. What references will the tenant need to supply?
Q. Do I pay tax on Rental Income?
Q. Do I need specific insurance?
Q. Who is responsible for paying council tax?
Q. Who is responsible for the TV license?
Q. What is ARLA Propertymark?
Q. What is TPO?
Q. What is an Energy Performance Certificate (EPC)?
Q. Are smoke detectors required if I let my property out?
FAQ – Tenants
All your Frequently Asked Questions about renting a house or flat answered.
Q. I need a place to rent where do I start?
Q. What does referencing involve and why do I need to be referenced?
Q. What is a guarantor?
Q. What is a tenancy agreement?
Q. How quickly can you find me a property and settled in?
Q. How are viewings arranged and conducted?
Q. How much deposit do I need? And when do I have to pay it?
Q. Can I have my pet with me in the property?
Q. Do I need my own insurance?
Q. What else do I pay for when I live in the property?
Q. Who is responsible for repairs?
Q. Can I make changes to the property?
Q. Can I renew the tenancy?