letting a home

Where does a landlord start?

Every aspect of the letting process is important - buying, refurbishing, furnishing, letting and management. We believe that each part of the process must be handled with care - giving close consideration to the overall picture at every stage.

This may be your first investment in property - it makes sense to get it right from the very beginning.

Our Negotiators will help you to buy the most appropriate property
Our full acquisition service includes property search and location, status reporting and rental assessment of suitable properties within your defined criteria
Alternatively, we will review your own proposals and give advice on whether the properties would be suitable and generate sufficient rental income

If you already own the property, the letting process starts with a visit from our negotiator who will.

describe the full Ashton Burkinshaw service and offer advice on any modifications and improvements that may help to achieve the best rental level and find the right tenant
take photographs and full details of the property and any restrictions on children or pets
advise you on
- furnishing: - what to leave and what to remove
- the responsibilities involved
- the legal issues concerning safety
- tenants responsibilities
- our terms and conditions
- our contract with you
- the service that suits you
- taxes and insurance

Landlord's Responsibilities

If you do not have a "Buy to Let" mortgage you must advise your mortgage lender and check that there is no objection or insurance restriction on letting.

You must advise your buildings and contents insurer of your intentions. Many insurers do not cover let properties but we can arrange specialist policies to give you the protection you need.
Refurbishments and safety checks must be made and you should be aware of the legislation that affects let property regarding furnishings, gas, electricity and smoke detectors.
You are responsible for providing sufficient keys, installing smoke alarms, notifying your local council (for Council Tax), gas, electricity, oil suppliers and post office etc. of the changes.
You are responsible for the general maintenance of the property and contents - the structure and condition of the property, decoration, installations and appliances.
If there is a garden, you must provide tools and the tenant is obliged to use them! In a larger property with a special garden it is best to employ a gardener to ensure the best care of precious plants etc. The cost can be built in to the rent.

Where repairs are necessary the tenant will call Ashton Burkinshaw if we manage the property or, if you have chosen our Let Only or Protected Rent Management options, they will call you.

Our Responsibilities

When everything is ready we will market your property:

in the press - paid for and free local publications
on the Internet
in local awareness campaigns

We will then:

interview and thoroughly reference all applicants
request a Guarantor if necessary and check their details
accompany applicants to view your property

If you opt for full management we can:

provide a professionally drafted Tenancy Agreement
take a full Inventory and Schedule of Condition
take and hold a substantial deposit to cover any possible loss or damage
make regular visits to the property and report to you

The Tenant's Responsibilities

The tenant has the right to live in the property so reasonable wear and tear must be taken into account.

However, the tenant is also responsible for:

paying the rent
taking care of the property and keeping it clean
insuring their own possessions

Insurances

Rent Payment and Legal Costs
The Ashton Burkinshaw Payment Plan (ABPP) is designed to protect you as a landlord against the major risk in letting property, ie the tenant failing to pay the rent. It also provides protection against certain legal aspects which may occasionally arise. This is a unique plan. Subject to the terms and conditions and exclusions (details available) any rent due but not paid by the tenant is paid by Ashton Burkinshaw to the landlord within 15 working days. This removes the worries associated with financial commitments, most particularly, mortgage payments. Additionally, Ashton Burkinshaw will arrange legal action by an appointed solicitor on behalf of a landlord in connection with any breach of the Tenancy Agreement. There is NO EXCESS on any claim on this plan.

Building Insurance
Must be arranged by you - we can help with special letting policies.

Contents Insurance
Where a tenancy is fully managed by Ashton Burkinshaw, the tenant is obliged to provide contents insurance to protect their contents within the let property. Accidental damage to the landlord's goods can also be covered. You should ensure your contents are insured for normal risks and that you are covered by relevant liability insurance.

Tax Implications

Self Assessment
The Inland Revenue regard letting a property as a form of investment and profit from rental income is taxed at the appropriate rate. UK residents are responsible for declaring the profit. Non-UK residents may apply for exemption from the rule that holds a letting agent responsible for the payment of the landlord's tax. If this is granted the landlord assumes responsibility for payment. If not, the agent must deduct the tax from the rent received and pass it to the Inland Revenue. If no agent is used the tenant becomes responsible for ensuring payment by deducting it from rent due.

This complex situation must be carefully managed and penalties for non or late payment are severe. Ashton Burkinshaw can help all landlords with a professional service which usually pays for itself with the savings realised by professional administration.

Ashton Burkinshaw can provide a taxation service, calculating and submitting an annual reconciliation, or just a printout for you or your accountant to include in your annual tax return. The charges for the Ashton Burkinshaw tax service are tax deductible and significantly less expensive than other options such as external accountants.

Management Option

Full Management
Most landlords do not wish to be involved in day to day letting matters and to provide for this Ashton Burkinshaw offers a full management service. Complete peace of mind is provided by this service details of which can be found on the following check list.

Protected Rent Management
This service suits landlords who live close to the property and are happy to handle the day to day affairs.

Let Only
This service suits landlords who only require an agent to find and reference prospective tenants and who wish to manage the property themselves.

Please note that there is new legislation protecting tenants deposits which affects the Landlord's right to hold the deposit. Ashton Burkinshaw is a regulated agent and can hold deposits; please see section on the TDS.

Extra services are available at reasonable extra charge with these options. All services are subject to VAT at the current rate.

The Ashton Burkinshaw Service	Full Management	Protected Rent Management	Let Only
Initial Visit including Legal advice and rent appraisal	Yes	Yes	Yes
Marketing including web sites, newspapers and mailing	Yes	Yes	Yes
Direct advertising to corporate tenants and relocation agents	Yes	Yes	Yes
Interviewing tenants and matching to your property	Yes	Yes	Yes
Accompanying all showings of your property	Yes	Yes	Yes
Referencing of tenants including credit search and employer	Yes	Yes	Yes
Covering tenancy with Guarantor if necessary	Yes	Yes	Yes
Drawing up the relevant Tenancy Agreement including negotiated clauses	Chargeable	Chargeable	Chargeable
Preparing a comprehensive Inventory	Chargeable	Chargeable	Chargeable
Obtaining and holding a substantial deposit subject to TDS rules	Yes	Yes	Yes
Receiving rent and paying it to you by electronic transfer	Yes	Yes	First month only
Chasing tenant for overdue rent and serving the appropriate legal notices	Yes	Yes	No
Monthly statements sent by mail or e-mail	Yes	Yes	No
Providing a tax service for self assessment	Chargeable	Chargeable	No
Checking the tenant into the property and agreeing the inventory	Yes	Chargeable	No
3-6 monthly Property visits throughout the tenancy	Yes	Chargeable	No
Sending property visit report to you by mail or e-mail	Yes	Chargeable	No
Arranging for routine repairs and maintenance to be carried out	Yes	Chargeable	No
Arranging additional repairs, refurbishment, valuations etc	Chargeable	Chargeable	No
Arranging access for you or contractors with tenants	Yes	Chargeable	No
Managing tenants' queries and difficulties throughout the tenancy	Yes	Chargeable	No
Responding to all mail regarding the property and tenancy	Yes	Chargeable	No
Paying bills relating to the property from the rental income	Yes	Chargeable	No
Yearly rent appraisals	Yes	Chargeable	No
Serving the appropriate notices for annual rent reviews	Yes	Chargeable	No
Arranging safety checks in line with your statutory obligations	Yes	Chargeable	No
Renewing insurances and service agreements on your behalf	Yes	Chargeable	No
Serving the appropriate notices for repossesion due to arrears	Yes	Yes	No
Serving the appropriate notices for repossesion for any other reason	Yes	Chargeable	No
Checking the tenant out at the end of a tenancy including check out report	Chargeable	Chargeable	No
Updated inventory	Yes	Chargeable	No
Negotiating an agreement to the deposit return with you and your tenant	Yes	No	No
Preparing the case for TDS if a deposit dispute goes to adjudication	Yes	Chargeable	No
Remarketing the property during the notice period	Yes	Yes	Yes
Returning the tenants deposit as agreed by tenant and yourself	Yes	Yes	Yes

See Letting FAQ's page for more useful information