Property Lettings in the South West

Applications
Applying for Lender's Consent
A landlord is responsible for notifying any lending institution with an interest in the property, that it is to be let, and notifying them of renewals, extensions, re-lettings etc. Failure to do so may invalidate the mortgage and the tenancy agreement. A written copy of the permission to be submitted to the agent prior to any let commencing.

Applying for Superior Landlord's Consent to the Letting of a Leasehold Property
A landlord is responsible for seeking consent to the letting of the property to be let if he does not own the freehold inteest. He should show a copy of the lease to the agents prior to any tenancy being drafted, in order that any clauses necessary may be inserrted into the Tenancy Agreement. Failure to do so may result in a breach of the Leasehold Agreement and invalidate the tenancy agreement.

Applying for Consent From Insurers
A landlord is responsible for notifying his insurers (for building and contents) that the property is to be let and must be aware of any exclusions or special conditions arising because of the letting. Such exclusions or special conditions may be required to be shown in the Tenancy Agreement. Failure to notify the insurers may invalidate an insurance policy. Overseas Landlord - Tax (non UK resident landlords only)
A landlord residing outside of the UK for more than six months during the course of the letting will need to apply to the Inland Revenue for acceptance for self-assessment of tax (NRL1), and to receive his rents gross

Safety Regulations
A landlord is responsible for obtaining safety certificates and operating instructions for the property before a letting commences. It will be the landlord's responsibility to remove from the property all furnishings which do not comply with the Fire and Furnishing Regulations, and any electrical or gas appliances which have not passed safety checks, or do not have clear instructions prior to the commencement of the tenancy.

The Furniture & Furnishing (Fire) (Safety) Regulations 1988 as amended A landlord is responsible for ensuring that furniture in all properties where lettings have commenced since 1st March 1993, comply with the regulations. Regulations specify that fabrics and fittings should be fire retardant and landlords should be able to either show the relevant labels on the items of furniture, or to provide a declaration that the furniture complies. Failure to comply with these regulations is a criminal offence and is subject to severe penalties.

Gas Safety (Installation and Use)
It is the duty of the landlord to ensure that all gas appliances, flues and associated pipe work are maintained in a safe condition at all times. There is also a requirement that gas appliances and flues in rented accommodation must be checked for safety within 12 months of being installed and then at least every 12 month thereafter. This check has to be carried out by a competent engineer, if not British Gas, a registered CORGI installer. A copy of the safety check record of certificate has to be given to any new tenant before they occupy the property and existing tenants must be given a copy within 28 days of the annual check. Under law, the landlord cannot opt out of this responsibility either by making an agreement with the tenant, or stipulating in the lease, that this has become their responsibility.

Electrics
Electrical equipment is covered by the Electrical Equipment (Safety) Regulations 1994 and the Plugs and Sockets (Safety) Regulations. All electrical appliances and installations should be checked regularly and wiring should be checked by an engineer registered with the National Institute of Electrical Engineering Contractors (NICEIC). Plugs, sockets and adaptors need to comply with the appropriate current standards, which now include the requirement that live and neutral pins on plugs are part insulated so as to prevent shocks when removing plugs from sockets.
ChampionHolmes recommend a safety test should be carried out, at the expense of the landlord, before each re-letting. Either the landlord's specified contractors (where details have been given to the agent) or reputable local contractors will be instructed.

Smoke Alarms
The agent strongly recommended that landlords supply at least one working battery powered smoke alarm on each floor of the rented property. Under the terms of the tenancy agreement, the tenant is made responsible for regularly checking of and changing of the battery.

Energy
ENERGY EFFICIENCY - OCTOBER 2008
An Energy Performance Certificate (EPC) must be available to the applicant from 1st October 2008 for all rented property, both residential and commercial.

Energy Performance Certificates and Tax Allowances
At present any landlord carrying out certain works to improve the Energy Efficiency of his property is able to claim a Landlord's Energy Saving Allowance. This is up to £1500 which for most landlords will equate to a saving of £600. When originally introduced it was a personal allowance but has now been extended to a per property allowance. Certain Grants may also be available and, for landlords whose tenants are in receipt of certain benefits, discounts on insulation may be available.

Services Offered
Introductory Service
a. To take photographs, prepare brief details, include in a display window.
b. Advertise the property on a regular basis in the local media and on our purpose built web site.
c. Arrange for prospective tenants to view. Select suitable tenants and take up references.
d. Prepare Tenancy Agreement and Counterpart Agreement (additional fee) and arrange for signing of the same and Stamping of the Counterpart Agreement, if applicable.
e. Obtain cleared funds from the tenant in respect of the deposit payable and the rent for the first period of the tenancy.
f. Prepare Schedule of Condition or Inventory as appropriate, and arrange for tenant to check and acknowledge.

Full Management Service
a. As Introductory Service above, plus
b. On tenant occupation we attend four inspection visits throughout the year with the first visit being quite soon after initial occupation to ensure the tenant has settled well and looking after your property.
c. Advise Utility providers of the date of the letting, tenants' details and meter readings, if required.
d. To arrange maintenance/repairs to the property, services of appliances, if required; renew safety certificates.
e. Any remedial works required to the property are overseen by our chosen contractors (unless other preferred contractor stated) and safety checks updated.
f. Rent - Demanding and accounting for rent on the date due. Settling invoices and remitting balance to Landlord on a monthly basis (unless Housing Benefit tenant or agreed otherwise).
g. Visit the property on a regular basis, reporting to landlord and advising of any matters requiring attention.
h. Note dates of rent reviews, termination of the tenancy etc., liaise with landlord and tenant and serve notices or new Agreements as appropriate.
i. At the termination of the tenancy, carry out a check out, clarify there are no outstanding monies, agree deductions and release balance of deposit to tenant.
j. Comply with tax requirements of non-UK residents (if applicable) Other Services
Maintenance is part of our ongoing management of a property, but we may also be able to assist you on a let only property if you are not able to find a suitable Contractor for the work to be carried out.

Furnishing Inventory
If preferred, for a furnished property, a full Inventory additional to the Schedule we prepare within our fee structure, (i.e. full furnishing list), can be prepared on a Landlord's behalf, but it should be noted this will incur an additional fee.

Legal
Deposits
If you are a landlord in England or Wales and you enter into a Tenancy and take a Deposit from your tenant on or after 06 April 2007, or you renew an existing Tenancy on different terms to the previous tenancy, e.g. there is an increase in the Deposit after this date, the Deposit must be protected in a Government authorised tenancy deposit scheme. This rule only applies if the tenancy is an assured short hold tenancy. There are fines if a Landlord does not submit a deposit into a deposit scheme.

Tenancy Deposit Scheme
There are two types of schemes, a Custodial Scheme and Insurance based Schemes (of which there are to be two types). For clarification, the Custodial Scheme is free to Landlords and Tenants, and any deposit is paid into and held in a separate account managed by the Scheme. The Insurance based scheme is paid by the Landlord or Agent, but is free to the Tenant. This allows the Landlord or Agent to hold the deposit for the term of the tenancy.

References
The agent will check references on all persons over the age of 18 who will be residing at the property. Unless otherwise agreed, reference checks will include a previous landlord's reference, employer or accountant's reference, and a credit check. References will either be taken up 'in house' or through a reputable credit and referencing agency. It should be noted that each tenant pays a referencing and administrative fee when his application is submitted.

Agreement
SIGNING OF TENANCY AGREEMENT
All UK resident landlords will be required to sign Tenancy Agreements relating to the letting of their property. This includes both Landlords on joint ownership of a property. For non-UK resident landlords, the tenancy agreement will be emailed for signature. Otherwise, a landlord will be asked to provide written authority to a third party to sign on his behalf. If the agent is to sign the tenancy agreement, they will require the landlord to have had sight of the tenancy agreement and that the landlord forward written instructions for them to sign that specific tenancy agreement.

TERMINATION OF INSTRUCTION
Unless agreed otherwise, our appointment as managing agent is for a fixed period, being the term of the tenancy. It can be terminated by either landlord or agent giving three months' notice in writing to the other to terminate the management to expire either at the end of the fixed term of the tenancy, or thereafter.

Payments - Notes to all Prospective Tenants
What financial commitment is required should I rent a property?

Unless otherwise stated, a tenant is responsible for Monthly rent, in advance, including water/sewerage rates, gas, electricity, oil, telephone, council tax and television.

How much will I need to apply for a rental property?
a.. A holding deposit
b.. An application fee per applicant over 18. A married couple or couple living together for more than two years will be treated as one applicant. This is your contribution towards administration and credit checking cost. This is not refundable if You decide not to proceed with the tenancy or Information given on the application is false or You do not meet the Decrees (Scotland), Individual Voluntary Arrangements or Bankruptcies or A CCJ/CD totalling more than £300, disclosed or otherwise or More than one CCJ/CD, disclosed or otherwise or an adverse reference from your previous landlord, managing agent or employer.

When do I pay?
Funds for holding deposit and application form immediately with application form. All cheques to be made payable to ChampionHolmes. Initial rent should be cleared prior to a tenancy commencing. Cash, Bankers Draft and Building Society cheques will be accepted on day of tenancy commencement.

Type of Tenancy
Unless otherwise requested a property will be let on an Assured Shorthold Tenancy for a minimum six month term.


SAFETY REGULATIONS
A landlord is responsible for obtaining safety certificates and operating instructions for the property before a letting commences. It will be the landlord's responsibility to remove from the property all furnishings which do not comply with the Fire and Furnishing Regulations, and any electrical or gas appliances which have not passed safety checks, or do not have clear instructions prior to the commencement of the tenancy.

The Furniture & Furnishing (Fire) (Safety) Regulations 1988 as amended A landlord is responsible for ensuring that furniture in all properties where lettings have commenced since 1st March 1993, comply with the regulations. Regulations specify that fabrics and fittings should be fire retardant and landlords should be able to either show the relevant labels on the items of furniture, or to provide a declaration that the furniture complies. Failure to comply with these regulations is a criminal offence and is subject to severe penalties.

Gas Safety (Installation and Use)
It is the duty of the landlord to ensure that all gas appliances, flues and associated pipe work are maintained in a safe condition at all times. There is also a requirement that gas appliances and flues in rented accommodation must be checked for safety within 12 months of being installed and then at least every 12 month thereafter. This check has to be carried out by a competent engineer, if not British Gas, a registered CORGI installer. A copy of the safety check record of certificate has to be given to any new tenant before they occupy the property and existing tenants must be given a copy within 28 days of the annual check. Under law, the landlord cannot opt out of this responsibility either by making an agreement with the tenant, or stipulating in the lease, that this has become their responsibility.

Electrics
Electrical equipment is covered by the Electrical Equipment (Safety) Regulations 1994 and the Plugs and Sockets (Safety) Regulations. All electrical appliances and installations should be checked regularly and wiring should be checked by an engineer registered with the National Institute of Electrical Engineering Contractors (NICEIC). Plugs, sockets and adaptors need to comply with the appropriate current standards, which now include the requirement that live and neutral pins on plugs are part insulated so as to prevent shocks when removing plugs from sockets.
ChampionHolmes recommend a safety test should be carried out, at the expense of the landlord, before each re-letting. Either the landlord's specified contractors (where details have been given to the agent) or reputable local contractors will be instructed.

Smoke Alarms
The agent strongly recommended that landlords supply at least one working battery powered smoke alarm on each floor of the rented property. Under the terms of the tenancy agreement, the tenant is made responsible for regularly checking of and changing of the battery.

ENERGY EFFICIENCY - OCTOBER 2008
Many of us will be aware that property for sale in England & Wales requires an Energy Performance Certificate (EPC) to be supplied to the purchaser as part of the Home Information Pack (HIP). EPC's are coming in October 2008 for all rented property, both residential and commercial. Energy Performance Certificates and Tax Allowances At present any landlord carrying out certain works to improve the Energy Efficiency of his property is able to claim a Landlord's Energy Saving Allowance. This is up to £1500 which for most landlords will equate to a saving of £600. When originally introduced it was a personal allowance but has now been extended to a per property allowance. Certain Grants may also be available and, for landlords whose tenants are in receipt of certain benefits, discounts on insulation may be available.

Services Offered
Introductory Service
a.. To take photographs, prepare brief details, include in a display window.
b.. Advertise the property on a regular basis in the local media and on our purpose built web site
c.. Arrange for prospective tenants to view. Select suitable tenants and take up references.
d.. Prepare Tenancy Agreement and Counterpart Agreement and arrange for signing of the same and Stamping of the Counterpart Agreement, if applicable.
e.. Obtain cleared funds from the tenant in respect of the deposit payable and the rent for the first period of the tenancy.
f.. Prepare Schedule of Condition or Inventory as appropriate, and arrange for tenant to check and acknowledge.

Full Management Service
a.. As Introductory Service above, plus
b.. On tenant occupation we attend four inspection visits throughout the year with the first visit being quite soon after initial occupation to ensure the tenant has settled well and looking after your property.
c.. Advise Utility providers of the date of the letting, tenants' details and meter readings, if required.
d.. To arrange maintenance/repairs to the property, services of appliances, if required; renew safety certificates.
e.. Any remedial works required to the property are overseen by our chosen contractors (unless other preferred contractor stated) and safety checks updated.
f.. Rent - Demanding and accounting for rent on the date due. Settling invoices and remitting balance to Landlord on a monthly basis (unless Housing Benefit tenant or agreed otherwise).
g.. Visit the property on a regular basis, reporting to landlord and advising of any matters requiring attention.
h.. Note dates of rent reviews, termination of the tenancy etc., liaise with landlord and tenant and serve notices or new Agreements as appropriate.
i.. At the termination of the tenancy, carry out a check out, clarify there are no outstanding monies, agree deductions and release balance of deposit to tenant.
j.. Comply with tax requirements of non-UK residents (if applicable) Any Other Services
Maintenance is part of our ongoing management of a property, but we may also be able to assist you on a let only property if you are not able to find a suitable Contractor for the work to be carried out.

Furnishing Inventory
If preferred, for a furnished property, a full Inventory additional to the Schedule we prepare within our fee structure, (i.e. full furnishing list), can be prepared on a Landlord's behalf, but it should be noted this will incur an additional fee.

DEPOSITS
If you are a landlord in England or Wales and you enter into a Tenancy and take a Deposit from your tenant on or after 06 April 2007, or you renew an existing Tenancy on different terms to the previous tenancy, e.g. there is an increase in the Deposit after this date, the Deposit must be protected in a Government authorised tenancy deposit scheme. This rule only applies if the tenancy is an assured short hold tenancy.

Tenancy Deposit Scheme
There are two types of schemes, a Custodial Scheme and Insurance based Schemes (of which there are to be two types). For clarification, the Custodial Scheme is free to Landlords and Tenants, and any deposit is paid into and held in a separate account managed by the Scheme. The Insurance based scheme is paid by the Landlord or Agent, but is free to the Tenant. This allows the Landlord or Agent to hold the deposit for the term of the tenancy.

From April 06 2007, all statutory tenancy deposit schemes will apply to Assured Shorthold Tenancies where deposit is taken in England and Wales. There are two types of schemes, a Custodial Scheme and Insurance based Schemes (of which there are to be two types). For clarification, the Custodial Scheme is free to Landlords and Tenants, and any deposit is paid into and held in a separate account managed by the Scheme.

REFERENCING
The agent will check references on all persons over the age of 18 who will be residing at the property. Unless otherwise agreed, reference checks will include a previous landlord's reference, bank or building society reference, employer or accountant's reference, and a credit check. References will either be taken up 'in house' or through a reputable credit and referencing agency. It should be noted that each tenant pays a referencing and administrative fee of £85 inclusive of VAT* when his application is submitted.

Agreement
SIGNING OF TENANCY AGREEMENT
All UK resident landlords will be required to sign Tenancy Agreements relating to the letting of their property. This includes both Landlords on joint ownership of a property. For non-UK resident landlords, the tenancy agreement will be emailed for signature. Otherwise, a landlord will be asked to provide written authority to a third party to sign on his behalf. If the agent is to sign the tenancy agreement, they will require the landlord to have had sight of the tenancy agreement and that the landlord forward written instructions for them to sign that specific tenancy agreement.

TERMINATION OF INSTRUCTION
Unless agreed otherwise, our appointment as managing agent is for a fixed period, being the term of the tenancy. It can be terminated by either landlord or agent giving three months' notice in writing to the other to terminate the management to expire either at the end of the fixed term of the tenancy, or thereafter.

Guarantor
Will I need a Guarantor? Yes - if

a.. You are a Student or unemployed
b.. You are in receipt of Housing Benefit. A pre-tenancy determination which is equal to at least 85% of the rental figure will be required by Housing Officer.
c.. You have not been working in continuous full-time employment for at least 6 months for a current or previous employer. NB Continuous means: without a break of more than 14 days during the previous 6 month period. Full-time means: a minimum of 30 hours per week.
d.. Your rental commitment is more than 40% of your annual income.
e.. You have recently arrived from overseas to take up employment
f.. You have an adverse credit history.
g.. Unless there is a legally enforceable guarantee, there will be no legal grounds to pursue the guarantor if the tenant defaults (this could invalidate an insurance claim for Rent Guarantee or Legal Expenses).

Who can be my Guarantor?
To be an acceptable Guarantor an individual must:

a.. Be a U.K. or I.O.M. resident (NOTE: Residents of the Channel Islands, Eire and foreign residents ARE NOT ACCEPTABLE)
b.. Have an acceptable Tenancy Application Score
c.. Have a good credit history with no bankruptcy, IVAs, County Court Judgments or Court Decrees (Scotland)
d.. Have a monthly income of at least 3 x the monthly rent in order to cover personal out-goings and the rent.
e.. If the Guarantor does not have a regular monthly income, you will need to supply proof of financial strength by providing copies of bank or building society statements demonstrating that the account has, for a period of not less than six months preceding the application, maintained a credit balance in excess of the example detailed below. Sufficient funds must be available to cover the full rental period, equal to 3 x the rent due for the period of the tenancy. (e.g. Rent £500 for a 6 month tenancy = £3000 x 3 multiple = £9,000 of accessible funds available from the guarantor).

Applications
What information is required with the application form?

Before setting up a tenancy, we will take up references on you. We use HomeLet Referencing Service, the largest tenant referencing service in the UK, to do this. In order to assist you in finding the right property speedily, it is important that you supply us with mandatory information to reference you properly. It is essential that all the information requested is supplied and the form is fully completed and legible. Missing information will delay your application and may endanger your choice of property.

When completing the reference application form, you will need to have the
following information / supporting documents with you:

a.. The full address of your current property, including the post code
b.. If less than three years at your current address, a list of all your addresses for the last three years with post codes and dates of occupation
c.. The full company name, address and post code of your employer (if applicable)
d.. A contact name, telephone and fax number and email address for your employer
e.. A contact name / company name, address, telephone and fax number of current letting agent or landlord (if applicable)
f.. All telephone and fax numbers given must include the full STD code
g.. Proof of identity and proof of residency covering the last six months by producing at least one of the following:
A driving licence with your current address or a recent utility company bill no more than 3 months old or a recent mobile telephone bill or recent council tax bill in your name at your current address or a signed and dated letter from your employers human resources department or finance director showing the name of the individual and position within the company or a copy of your current tenancy agreement.