Lettings
TOWN COAST & COUNTRY ESTATES
Our Residential Lettings and Property Management team will guide you through the procedure of letting your property and will ensure that your rights as a landlord are protected. We are
- Members of The Property Ombudsman
- Members of Rent Smart Wales
- Members of the National Association of Estate Agents
- Fully trained and experienced in all aspects of letting with a thorough knowledge of the local property market
A member of our team will be pleased to visit you at the property and give a free rental appraisal. They will advise you of any action required to ensure the property is of the required standard to be let. This appraisal is without charge or obligation.
To assess your property, various factors will be taken into consideration including the condition, the standard of fixtures, fittings and furnishings, as well as the size and type of property. We will also take into account the location and current market trends. A quality property attracts good quality tenants and can achieve a higher rental value.
If you are considering letting your property you should inform
(a) Building society, bank or other lender to obtain permission (if applicable)
(b) Insurance companies regarding the building and contents insurance
(c) Freeholder's permission to sub-let if the property is leasehold
Rental income is liable to taxation. You must seek advice from your financial adviser or local taxation office. If you reside outside the UK the Taxes Management Act 1970 places the responsibility for payment of tax liability on the managing agent. Therefore, if you reside abroad, Town Country & Country Estates Ltd would need to retain part of your income (24%) to meet the tax liability. If you hold a Tax Exemption Certificate, form NRL1, we are not required to retain part of your income providing you advise us of the reference number and a copy of the authorised form.
Town Coast & Country Estates Ltd will inform the council, Welsh Water, the gas and electricity companies of the change of occupancy at the start of the tenancy. Council tax is raised on occupants of the property and is not the landlords' responsibility. If the property is not occupied between tenancies, payment will be the responsibility of the landlord. Exemptions may be available and you should make enquiries to the relevant local authority. The tenant is responsible for informing the telephone company of the change of occupancy.
REGULATIONS
Landlords have responsibility for the safety of both the tenant and their own property during the tenancy. The following regulations must be adhered to, without fail, by the landlord.
FURNITURE AND FURNISHINGS FIRE SAFETY REGULATIONS 1993
All soft furnishings such as settees, sofas, beds, upholstered chairs, pillows, cushions etc, must comply with the fire resistance requirements contained within the regulations. Items of furniture made prior to 1950 are termed antiques and as such are excluded from the regulations. A label is usually attached to the item of furniture to confirm it is acceptable. We will check your furniture and advise you accordingly but the ultimate liability rests with the landlord. Failure to comply can result in prosecution.
GAS SAFETY (INSTALLATIONS AND USE REGULATIONS) 1996
All gas appliances and installations within the accommodation must be checked on an annual basis by a qualified engineer (CORGI or British Gas). This includes such items as gas fires, central heating boilers, gas cookers and other gas appliances including all LPG appliances. The regulations also insist that flues and chimneys are clear of obstructions and in the correct place. A certificate must be issued by the engineer and a copy presented to the tenant at the start of the tenancy. ANY ITEMS THAT FAIL TO COMPLY WITH THE REGULATIONS MUST BE FIXED OR REMOVED IMMEDIATELY.
ELECTRICAL EQUIPMENT (SAFETY) REGULATIONS 1996
These regulations require that all electrical equipment which is left at the property be safe and of no risk or injury to human or animal. All flexes, fuses and electrical outputs should be checked for safety and we recommend that a qualified electrician checks these items (a charge will be made). AD pings, sockets and adaptors must comply with British Standards BS1363.
INVENTORY/SCHEDULE OF CONDITION
We recommend that an inventory is prepared for the property as, without one as evidence, it may be impossible to rule in favour of the landlord in the event of a dispute. Town Coast and Country Estates Ltd suggest a written inventory to be executed and signed within 10 working days of the commencement of the tenancy. We recommend that a full Inventory/Schedule of Condition is prepared by an independent clerk, together with a Fixtures and Fittings Schedule. There will be a charge for this service and we will then advise if any items should be removed.
INSPECTION VISITS
The property should be inspected on a regular basis, enabling us and the landlord to ensure that it is being maintained to the standard in which it was received. We will inspect the property during the first six months of the tenancy, free of charge (managed properties only) and will forward a report to you on the condition. Any inspection is for the purpose of ensuring that the tenant is complying with the terms of their tenancy agreement and does not amount to a structural survey on the property. There is a charge for additional inspections which we recommend are carried out on a quarterly basis, whether or not the property is tenanted. Should you wish to inspect your property during the tenancy, we will make the necessary arrangements subject to reasonable notice being given as per the terms of the agreement. For non-managed properties there is a charge for the final inspection when the tenant vacates the property.
REPAIRS AND REPLACEMENTS
For managed properties we shall deal with day-to-day maintenance matters including minor repairs up to a maximum of £180 inclusive of VAT for each item without reference to you. Except in an emergency, wherever practical, estimates are obtained and submitted to you for approval in respect of works of redecoration, renewal or repairs likely to cost more than £180 inclusive of VAT. If repairs are an emergency, the work will be put in hand. We do not undertake to supervise the work, nor inspect the work and cannot be held responsible for any unsatisfactory work undertaken by a third party. If any damage is caused by negligence or failure of tradesmen, we as agents cannot be held responsible. We act in an organisational capacity only. Please notify us of preferred tradesmen that you may wish to employ, otherwise we will instruct local contractors in the first instance.
RENTAL INCOME
Town Coast & Country Estates Ltd operates a client accounting system - net rental payments will be transferred into your bank or building society account on a monthly basis. Statements showing all receipts and expenditure will be forwarded to you on a regular basis.
TENANT DEPOSIT PROTECTION SCHEME - FACTS FOR THE LANDLORD
Under the Housing Act 2004 the government was required to introduce mandatory, universal, tenancy deposit protection. Tenancy deposit protection applies to all assured shorthold tenancies in England and Wales where a deposit is taken. Virtually all new contracts to let a property are Assured Shorthold Tenancies.
Under the Housing Act 2004 it is not mandatory to take a deposit. A landlord can make the decision not to take a deposit to avoid the scheme but in doing should be aware that should the tenant damage the property or not pay the last month’s rent, recovery of these losses can only be made through the County Court.
The landlord or agent, not the tenant, will have the option to choose whether to safeguard the deposit in the custodial or insurance-based scheme.
Custodial Deposit Scheme:
Under the custodial scheme the contract holder pays the deposit to the landlord or agent who then pays the deposit into the scheme. Within 30 days of receiving a deposit the landlord or agent must register the deposit and give the contract holder information about the scheme being used. This scheme is free to landlords, agents and contract holders. At the end of the contract, if the landlord and contract holder agree how the deposit should be divided, the landlord or agent will inform the scheme, which will return the deposit, divided in the way agreed by both parties. However, if there is a dispute, the scheme will hold the amount until the Deposit Protection Service adjudication team or courts decide what is fair. The deposit must be returned within 10 days of the end of the contract provided the landlord and contract holder have agreed the amount If the claim is partly or in full for rent arrears, the amount released by The Deposit Protection Service will automatically be allocated to the rent arrears 1st at Town Coast and Country Estates when received from the Deposit Protection Service. The balance of rent due and/or other claim will then be for the landlord to peruse separately using independent legal advice.
Insurance Based Deposit Scheme:
Under insurance based schemes the tenant pays the deposit to the landlord who retains the deposit and any interest earned on the deposit, subject to the terms of the tenancy agreement and pays a premium to the insurer. Currently, the cost of using this scheme is borne by the landlord or the letting agent. As with the custodial scheme, within 30 days of receiving a deposit, the landlord must register the deposit and give the tenant information about the scheme being used. At the end of the tenancy, if the landlord and tenant agree how the deposit should be divided, the landlord or their agent returns all or some of the deposit. If there is a dispute, the landlord must hand over the disputed amount to the scheme for safekeeping until the dispute is resolved. If for any reason the landlord fails to comply, the insurance arrangements will ensure the return of the deposit to the tenant if they are entitled to it.
Alternative Dispute Resolution Services:
To avoid disputes having to go to court, both schemes are supported by an Alternative Dispute Resolution (ADR) service - although the use of this is not compulsory. A dispute at the end of the tenancy can be referred to the ADR service provided both parties agree to be bound by the ADR decision. If either party does not agree to use the ADR service, the option of referring the dispute to the courts will remain. The ADR service is impartial and evidence based.
Documentation:
For further information please contact
Town Coast and Country Estates: 01437 765834 or
lettings@tccewales.com
Department of Communities and Local Government:
www.communities.gov.uk
Custodial scheme:
https://www.depositprotection.com
Insurance scheme:
www.mydeposits.co.uk
