LANDLORD GUIDE

Landlord’s Reference Manual

the step by step
guide to placing
your property on
the rental market
with Property Shop

Marketing the Property The Letting Process

Pre-Marketing Tenancy Agreements

Prior to placing your property on the rental market, Property Our tenancy agreements are Assured Shorthold Tenancies;
Shop will undertake a free rental assessment including in most cases they are either six or twelve month agreements.
advice on rental potential, rental income and how to We recommend a new fixed term contract after the initial
maximise the appeal of your property to prospective clients. fixed term. However, if you do not require this our
agreements automatically become contractual monthly
Property Appraisal & Rent Assessment periodic tenancies. This means that they will run on a month
by month basis.
We value properties based on:
Location Commencement of Tenancy
Presentation
Size of accommodation Once a moving date is agreed, the tenancy will be prepared.
Current market rent levels Prior to the tenant moving in, we will supply an Inventory
and Schedule of Condition of the property recording its
Marketing Your Property condition and any contents. Meter readings will be taken
and the relevant utility companies notified as well as the
Our marketing activity is ‘gold standard’. We have invested local authority. We provide the tenants with a welcome
time, money and e ort to ensure that our clients benefit from pack and keys.
the most useful and the most e ective marketing tools. The
‘suite’ of tools we use to market your property includes: Deposits

Professional photography A deposit is held from all tenants. This is normally equivalent
Detailed floorplans to five weeks rent. Deposits are held as a safeguard against
Breathtaking 360 Virtual Tours damages and/or unpaid rent. The deposit is refundable at
Listings on Rightmove and On the Market the end of the tenancy only after the tenant has vacated the
Distinctive ‘To Let’ boards property and there has been a successful final inspection
An extensive and fully qualified mailing list and settlement of account.
A locally focussed and community supportive marketing
approach which includes local buses, local radio, sports It is a legal requirement to register all deposits in a tenancy
ground sponsorships, door drops, extensive social media deposit protection scheme. This protects tenants’ deposits
profile and seasonal property brochures in the case of a disagreement between tenant and landlord.
Newsletter to local businesses, colleges, schools and hospi- Property Shop is a member of the DPS – the Deposit
tals Protection Scheme. Visit depositprotection.com

Viewings Payment

All prospective tenants must register with Property Shop. We organise a standing order for payment of the rent into
At this stage, we remove candidates who don’t match your Property Shop clients’ account on the same day each month.
property’s criteria. If the prospective tenants are accepted We will then make payments to you, less our fees, directly
we arrange viewings at their selected properties. into your account.
All viewings are accompanied by a member of our team.
End of Tenancy
Applications and Referencing
When a tenancy ends, we will carry out a check-out
We confirm the identity of the person, where they live, inspection. Using the Inventory and Schedule of Condition,
their right to rent and their ability to be able to pay the rent. we will check all items and record meter readings. We will
We also carry out previous landlord checks if applicable. obtain a forwarding address for all tenants. The deposit is
Any adverse credit history is also highlighted. In some refunded to the tenant when all parties are satisfied that
instances, we may ask the applicant to nominate a the property has been returned in the same condition as
guarantor. The guarantor will also be fully referenced. at the commencement of the tenancy – fair wear and tear
accepted.
We are extremely thorough with the vetting of tenants.
We aim to get you the best possible match for your property, For any works that need doing, or any item needing
thereby ensuring a long-term tenant and a happy landlord. replacing, valid estimates must be obtained, indicating the
exact cost of repair. If an agreement is not reached between
the parties then under the DPS, the Alternative Dispute
Resolution (ADR) will aim to resolve any disputes quickly.

Inspections by Property Shop Energy Performance Certificates (EPCs)

All fully managed tenanted properties will be visited and An Energy Performance Certificate (EPC) must be instructed
inspected on a regular basis. The inspections allow us to prior to marketing any property. Each property will be given a
confirm that the tenant is fulfilling their obligations. If there rating, which is registered on a government website. The
are any maintenance issues we will advise the landlord minimum energy performance rating is E to let or continue
accordingly. The inspection visits allow us to advise the to let, unless the property has a valid exemption in place. The
landlord appropriately when any upgrading work is required. certificate will remain valid for ten years. Property Shop has a
Periodic inspections are also an opportunity for the tenants Domestic Energy Assessor available to complete this
to express any concerns they may have. certification.

Maintenance & Furniture and Furnishings Fire Safety
Legal Requirements
If you let your property furnished, you must ensure that your
Maintenance furniture and furnishings comply with the current safety
regulations. There are severe penalties for non- compliance.
We have our own fully qualified and highly experienced
maintenance team so any problems will be dealt with Financial Considerations
quickly and e ciently. We also operate a 24-hour call out for Landlords
service. Anything likely to incur a substantial cost will be
agreed with you before any work is done. You are also able Mortgages
to make your own arrangements for any maintenance.
It is the landlord’s responsibility to inform their mortgage
Gas Safety Certificate providers of their intention to let the property prior to the
commencement of a tenancy.
All rental properties must have an up-to-date gas safety
certificate by a Gas Safe engineer. We can arrange this for you. Insurance

Electrical Condition Report A landlord is responsible for insuring the building and
any contents left in the property including carpets and
From the 1st of July 2020 all new tenancies on all residential furnishings. We can obtain competitive quotes if required.
rental properties will require a current satisfactory Electrical Tenants are responsible for the insurance of their own
Installation Condition Report (EICR) and from 1st April 2021 contents.
this will also apply to all existing tenancies.
Tax
If your property has an installation certificate for a full new
install that is less than five years old, you will not require an Income received from renting a property is subject to tax.
EICR until the five years has expired. An EICR can last up to If you have any queries you should contact your financial
but not exceeding five years on residential rental property. or tax advisor. Expenses incurred can be set against your
tax liability.
Our fully qualified electricians can supply the relevant
reports for you including the PAT (Portable Appliance Overseas Landlords
Testing) of any appliances.
A landlord who resides overseas must apply for an
Smoke and Carbon Monoxide Alarms exemption certificate from the Inland Revenue.

Regulations require private rented sector landlords, Visit www.hmrc.gov.uk/cnr/nr_landlords.htm for full
from 1 October 2015, to have: details and downloads. Landlords will be awarded an
exemption number, which allows Property Shop to
At least one smoke alarm installed on every storey forward all rents without deduction of tax.
of their rental property which is to be used as living
accommodation. Legal Costs

A carbon monoxide alarm used in living accommodation The landlord will be responsible for taking any legal action
where solid fuel is used. necessary for rent recovery or any other matters relating
to the tenancy and will be responsible for payment of all
However, as gas appliances can emit carbon monoxide, we fees and costs. Property Shop will assist by providing
would expect and encourage reputable landlords to ensure relevant information and documentation.
that working carbon monoxide alarms are installed in rooms
with these also. You must ensure all alarms are in working
order at the start of each tenancy. We can arrange for these
pieces of equipment to be supplied, fitted and tested.

Management services at Property Shop

Five Star Management Service Tenant Finding Only Service (TFO)

This service is designed to give all landlords – existing If you are an experienced landlord, able to take on the responsibility
or new, local or resident overseas – peace of mind. for managing the property during the tenancy, this service is for
It is a comprehensive package encompassing letting, you. We have a dedicated lettings team with extensive marketing
maintaining and managing your property. capabilities who simply find you qualified tenants.

Rental Valuation 5 Star TFO
TFO
Rental advice and review of current market
Assessment of property TFO
Advice on maintenance and/or improvement issues
Safety regulations **

Marketing 5 Star TFO

Preparation of the Energy Performance Certificate TFO
Professional photography
Detailed floorplans
Breathtaking 360 Virtual Tours
Listings on Rightmove and On the Market
Circulation of details to our mailing lists and extensive database
Newsletter to local businesses, colleges, schools and hospitals
Erection of our distinctive ‘To Let’ board at the property
Accompanied viewings with prospective tenants and regular feedback

Tenant Validation 5 Star

Negotiate the details of the tenancy *
Implement a full credit and referencing service
Right to rent checks
Draw up agreements
Arrange preparation of the inventory and schedule of condition
Collect one month’s rent in advance
Collect a tenancy deposit *to be placed into our tenancy deposit scheme **to be placed in the landlord’s chosen tenancy deposit scheme
Set up the tenant’s standing order for their rental payments
Meter readings will be recorded, utility companies and local authority notified
Hand over keys to the tenant

Management 5 Star

Personal Property Portfolio Manager
Statement and remittance of rent issued monthly
Payment, via rent account, of invoices and outgoings
Regular and fully documented property inspections
An out of hours contact number and email address
Repairs and maintenance arranged
Final inspection including, if necessary, negotiation of deposit refund
Ongoing assessment of the condition of the property and upgrading advice

Additional Services 5 Star

Property maintenance repairs/refurbishment
Rent protection and legal expenses
Landlord’s buildings and contents insurance
Sale of property to tenants/investors
Investment property acquisition