This guide is aimed to support those who are considering becoming a buy to let landlord or first-time landlords. At Clarendon Hill our expert team understand that the different sections to the property market, along with the landlord fees can be complicated. With this in mind we have put together a guide for first time landlords, aiming to assist you with all the information you need to let a property, from getting started to the landlord fees.
It is important as first-time landlords that you are sure about your decision and aware of any licencing requirements if needed. Some councils have introduced a licence for landlord’s properties and we are happy to talk you through this and even assist you with applying.
The first step to letting your property is to be prepared for viewings. This means making sure that the property is clean and any DIY projects have been completed. You may choose to furnish or not to furnish the property, this is your choice. We do however find that smaller properties generally appeal to people who have not rented before and they often do not have any furniture, so flexibility is key.
Please bear in mind that a good, clean, tidy and well decorated property with good quality and compliant furnishings attracts more tenants and will get your property let quicker.
It is very important that your property complies with the health and safety regulations, as all landlords are obliged to keep their rental properties safe and free of hazards.
This includes Gas and electricity safety certification, which requires all gas and electric equipment to be safe and good for use. You are also required to fit and maintain smoke and carbon monoxide detectors and your property must meet the Energy Performance Certificate (EPC). We will help to check and make sure your property is safe for your tenants and that it meets the health and safety measures.
At Clarendon Hill, we believe in finding the right tenants for your property, which is why we thoroughly check the tenant’s references to make sure they will meet the requirements of your tenancy agreement.
The first thing you must do once you have found the right tenants is to provide them with a tenancy agreement. We will help with putting together the agreement for you and getting the paper work to the tenant.
Getting a deposit early from the tenants, is a good way of protecting against any damage. All landlords must register a tenant’s deposit with an approved Tenancy Deposit Protection (TDP) scheme within thirty days of the deposit being taken, we can assist with this. The deposit will be 4-5 weeks rent on annual rents of up to £50,000 and a maximum of 6 weeks rent on annual rents of above £50,000.
Clarendon Hill Properties is a member of a Redress Scheme, namely the Property Redress Scheme (PRS) and is also a member of a Client Money Protection Scheme through which we are committed to protecting your funds, we are a member of Client Money Protect.Client Money Protection Certificate
We offer a number of lettings services depending on your requirements.
Let only or Basic service
|Tenant find & Tenancy Set-up||8% of the annual rent|
|Referencing||£30 per person (over 18 years)|
|Gas Safety Check||£70|
|Electrical Safety Inspection – from||£135|
|Inventory – check in from||£100|
|Inventory – checkout from||£90|
|Producing duplicate documents||£25|
|Rent Guarantee 12-month cover||£304|
|Fee for withdrawing from an offer of tenancy||£95|
Managed Service (including basic service)
|Monthly commission||10% of monthly rent|
|Tenant find and tenancy set-up||2 weeks rent|
|Early termination of management with a sitting tenant||£750|
No VAT currently charged.
We appreciate that there will be many questions as a first-time landlord and we encourage you to communicate with us at any time. We want to help you and give you peace of mind with one of your biggest investments.