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Fowlers will Care for Your Property
At Fowlers Estate Agents, we take very seriously the duty of care and responsibility
we have to our Landlords.
Let's face it, they entrust to us one of their most valuable assets, and we are
committed to offering Landlords a professional, efficient and enthusiastic service
coupled with a high level of Client care. We offer the benefit of the very
latest in technology providing you with marketing of the highest quality, whilst
maintaining the traditional core values we believe are essential in providing a
personal and responsive service.
For many years Fowlers has been a member of The National Association of Estate Agents
and has been bound by their strict 'Code of Practice & Rules of Conduct'. This ensures
professional agency standards are maintained. We are also a member of the Ombudsman
for Estate Agents Scheme, and subscribe to this Code of Practice for Letting Agents.
More recently we became a member of The Letting Partnership, an industry organisation
specifically set up to assist, advise and support its member agents on all aspects
of residential lettings. Bound by the Partnership's Code of Ethical Practice and
Professional Conduct, Fowlers Estate Agents are required to act at all times with
the highest level of competency and professionalism, leaving you safe in the knowledge
that trouble free letting of your property will always be our priority.
Who are Landlords and Tenants Today?
With the average age of first time buyers now reported as 34, and with
lifestyle changes particularly in working practice from permanent to contractual
employment, renting is becoming increasingly popular. 'Average' tenants are
no longer people who can't afford to buy; they are people choosing to rent.
'Average' Landlords no longer control extensive property portfolios. A recent industry
survey showed that 53% of Landlords canvassed had only one or two properties, and
long-term investment was the objective of nearly two thirds (65%) of respondents.
With Buy To Let Mortgages available through all major lenders residential property
now offers many individuals an attractive alternative to mainstream savings vehicles
such as pension and investment funds.
Our residential lettings service is designed to meet the needs of Landlords and
tenants alike. We combine our established local presence and independence with years
of experience to provide you with a professional and effective service - personally.
Our Commitment to You
"We commit to provide a letting service second to none, that will give you the
peace of mind and the confidence that the care of your property will always
be our priority"
Maximising Your Potential Return
Successful letting depends on both achieving maximum rental yield
and optimum occupation. First impressions are always important - try looking at
the property as if it is the first time you have seen it. Then put yourself in the
tenant's shoes and ask, "Would I like to live here". Cleanliness is vital and attention
to detail can make all the difference - a dripping tap, overgrown garden, dirty
windows - they will all influence the tenant's decision.
Properties may be let unfurnished or furnished. However, floor coverings and curtains/blinds
are required in either case. In furnished property, the appropriate number of beds
and furniture must be provided and the kitchen fitted with white goods - the
better equipped, the more potential rental income. An appropriately sized table,
crockery, cutlery and kitchen utensils will also be required.
Finding the Right Tenant
It is vital that the property is marketed effectively and at Fowlers we
have the necessary experience and tools to ensure that all the most cost-effective
avenues are covered. As soon as your formal instructions have been received we will:
• Prepare details of your property • identify and inform suitable potential
tenants already registered with us • schedule advertisements in the local press
• with your permission erect a distinctive 'To Let' board • include rental details
on our web site
We are committed to finding for you the very best of tenants to occupy your property.
Applicants must meet stringent financial criteria and their ability to meet the
rental commitment is assessed on our behalf by an independent specialist company.
Suitability is assessed on the basis of:
• An exhaustive credit search of every applicant's credit file • employment reference(s)
• previous Landlord(s) reference (where applicable) • search of public records/electoral
rolls for proof of address over the previous five years.
There are occasions - i.e. recent job change, returning from working abroad - when
we will request the tenant to provide a guarantor before proceeding. The guarantor
will undergo the same rigorous checks applied to the tenant and will legally become
party to the tenancy.
Legal Issues
As housing legislation is constantly evolving and changing, our comprehensive
tenancy agreements are updated regularly in order to meet and comply with the current
legislation. This ensures that your legal rights and obligations are always met.
Safety Requirements
At all times you, the Landlord, and Fowlers, your agent, have a duty of care to
the tenant. Safety plays a major part in this and there are a number of statutory
requirements that must be adhered to. The penalties for non-compliance are significant
fines and possible imprisonment.
The four main areas are:
Gas Safety - It is a statutory requirement that all properties supplied with
gas are checked annually and appliances tested. Tests must be undertaken by a registered
engineer who will issue a 'Landlord Gas Safety Certificate' for the property, a
copy of which should be given to the tenant. Copies of certificates issued must
be kept for at least two years.
Electrical Safety - Unlike gas safety there is no legal obligation on landlords
to have electrical equipment and installation checked on a regular basis. Following
many years of lobbying, the Government have now made changes to Building Regulations
covering alternation to, and addition of, fixed installations. Landlords are legally
required to be able to prove that all fixed electrical installations carried out
since 1st January 2005 were undertaken and certified by an electrician registered
with a Government approved body i.e. NICEIC. Fowlers strongly recommends that an
electrical safety check is carried out on your property every five years.
Furniture and Furnishings - All items (excluding authenticated antique furniture)
that are upholstered or have a filling material must comply with Fire Safety Regulations.
Any furniture manufactured after 1st March 1989 must comply with this legislation
and should be labelled accordingly. Any item, regardless of its age, that is
not labelled will be deemed non-compliant and must be removed from the property.
Other Statutory Safety Regulations - Generally, any item left in the property for
the tenants use - including all electrical items, white goods, smoke and carbon
monoxide detectors etc must be in good working order. Landlords must also provide
relevant operational information for items that have any risk associated with their
use e.g. electric mowers.
Consent to Let
If you have a mortgage on your property, other than a Buy to Let, there
is every likelihood that you will need consent to let from your lender. Leasehold
properties may require consent from the freeholder or more usually the managing
agents.
Insurance
You must advise your insurance company (buildings and contents) of your
intention to let the property and comply with any conditions they may impose. This
is very important as insurance providers stick rigidly to the terms of their policies
and not informing them will invalidate your policy. Tenants are responsible for
insuring their own possessions.
Income Tax
Income tax is payable on all rental income arising from let property in
the UK, regardless of the residential status of the Landlord. In the case of a Non
Resident Landlord (whose usual place of abode is outside of the UK), the letting
agent is required to withhold tax from rent received on behalf of the Inland Revenue
unless written approval for exemption has been obtained from them. Approval will
be granted once an NRL1 Form (which can be supplied by us) has been submitted. Approval
of the application does not make the rent exempt from UK tax and must be declared
as income.
As many of the costs incurred in letting a property can be offset against the income,
it may be worth considering appointing an accountant to deal with your tax return.
Fowlers' Letting Services
You tell us exactly what you want. With three levels of service
to chose from, you can decide how little or how much involvement you want in running
your tenancy. All three levels of service include:
• Initial market appraisal • advise on presentation • arrangement of safety checks
if required • full marketing • accompanied viewings • submission and reporting of
references • preparation of inventory/schedule of condition where required • preparation
of Tenancy Agreement • collection of security deposit • arrangements for your future
rent payments
Let Only Service provides Landlords with fully credit
searched and referenced tenants, tenancy agreements and standing order mandates.
We recommend this service to experienced 'professional' Landlords who have the time,
resources and expertise to deal directly with tenants on all issues that arise from
letting, including emergency callouts, faulty appliances, lost keys etc.
Rent Collection Service is designed for Landlords who
would like some involvement in the letting of their property and who have the time,
resources and trade contacts to manage the day-to-day maintenance themselves, but
do not want to deal with the rent collection or accounting.
This service includes:
• Preparation of inventory • informing utility suppliers and council offices of
incoming/outgoing tenants • monthly rent payments by BACS directly into your nominated
account • itemised monthly rent account statements • property inspections during
tenancies • holding of security deposit • property inspection and inventory checkout
at tenancy termination.
Full Management Service covers all aspects of the letting
and management of your property and is tailored for Landlords who may live out of
area, or do not wish to have any direct involvement with their tenant.
In addition to the services provided under Rent Collection, Full Management
includes:
• All queries, correspondence and calls from tenants come directly to us • dealing
with all maintenance issues (including supervising works and settlement of contractor
invoices from rent collected) • payment of routine outgoings.
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