What you need to know to rent your property

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Sheila Hawkins
5 years ago
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1 LANDLORD GUIDE

What you need to know to rent your property Cocoon are experts in lettings, so feel free to contact us at any time to answer any questions you may have.

2 What you need to know to rent your property Cocoon are experts in lettings, so feel free to contact us at any time to answer any questions you may have. In the meantime, see below for useful information if you are looking to rent your residential property... What we need to market your property: Signed Lettings Terms & Conditions Proof of identity Proof of address Valid Energy Performance Certificate (EPC) At least one set of keys Contact details of any occupant to notify of viewings Confirmed availability date (please allow a one day gap between tenancies for cleaning and inspection)

3 Safety Checks: Gas Safety Certificate Cocoon can arrange for the inspection to be carried out by a Gas Safe registered engineer who will issue a Gas Safety Certificate. It is also a legal requirement that a copy of the certificate is given to the tenant within 30 days. Smoke alarms It is now also a legal requirement to install a smoke alarm on every floor of a rental property. Carbon monoxide alarms Carbon monoxide alarms must be installed in any room with a solid fuel installation e.g. a wood burning stove. Electrical safety Landlords must ensure that the electrical system and fixtures and fittings are safe. If supplying portable electrical appliances Cocoon can arrange for a qualified contractor to carry out a Portable Appliance Test (PAT) to ensure all appliances with plugs are also safe to use. Furniture & furnishings It is important to check that sofas, beds, bedheads, cushions, pillows and furniture covers still have the relevant fire safety label. Legionnaires & safety checks Landlords have a legal duty to consider, assess and control the risks of exposure to Legionella to their tenants. In most residential cases a simple water test can be carried out. At the start of a tenancy: Keys We will need one set of keys to market and or manage your property, and enough keys for each tenant. Cleaning, inventory & check-in Your tenants will expect the property to be professionally cleaned before check in. This will ensure the property is cleaned to the same standard at the end of the tenancy, as inspected by an independent inventory clerk. Utility accounts During the tenancy period the tenant is responsible for utility bills, council tax and television licence. If Cocoon are managing your property, we will assist with the utility change over.

At the end of a tenancy Renewals We will endeavour contact both landlord and tenant before the end of the tenancy and negotiate a tenancy extension as required, and prepare necessary paperwork.

4 At the end of a tenancy Renewals We will endeavour contact both landlord and tenant before the end of the tenancy and negotiate a tenancy extension as required, and prepare necessary paperwork. Alternatively we will be able to re-market the property to find replacement tenants. Check-out The property will be inspected by an independent check out clerk to evidence the condition and cleanliness of the property, which will be required if the landlord makes a claim against the security deposit. Deposit deductions Once your tenant has requested the return of their deposit the landlord has 10 days in which to refund the amount they do not intend to withhold. The landlord must inform the tenant of any proposed deductions. If proposed deductions cannot be agreed between the landlord (or the managing agent) and the tenant, then the disputed amount will be transferred to the deposit protection scheme. Their dispute resolution service will determine the outcome based on the evidence provided by both landlord and tenant. MY COCOON - Landlords and tenants can view tenancy documents and track tenancy activity by logging into the MyCocoon portal. PROPERTY MANAGEMENT - Most of our landlords opt for our highly competitive management service. With tenant s expectations becoming increasingly high, Cocoon are on hand to ensure the interests of both landlord and tenant are catered for, while minimising unnecessary maintenance costs and hassle to the landlord. CLIENT MONEY PROTECTION (CMP) & CODES OF PRACTICE - Cocoon are a member of the below regulatory bodies which require our reconciled client money bank account to be validated by qualified accountants annually. These regulatory bodies also offer complaints and redress procedures to protect consumers in the unlikely event of unreconciled disputes.

5 Your legal requirements Energy Performance Certificate (EPC) It is a legal requirement to have a valid EPC when marketing your property and a copy must be made available to prospective tenants free of charge. Consents to let Remember to obtain permission to rent the property from any co-owner(s) as well as permission from any mortgage provider or freeholder, if applicable. Local authority licensing & Houses of Multiple Occupation (HMOs) Check with the local council whether you need to apply for a licence when letting your property. A licence must be obtained before instructing Cocoon to market the property for let. Right to rent checks The landlord is obliged to check the immigration status qualifies the tenant to rent in England Wales as part of the Immigration Act Tax on rental income All rental income arising from property in the UK is subject to tax. UK residents can complete a HMRC Self Assessment tax return to declare this income. Overseas landlords must be taxed at source, unless their agent has permission from HMRC to pay rent to them gross of tax Insurance As a landlord, you must have buildings and contents insurance in place at all times and these should be specific to a rental property. Money Laundering Regulations All estate agents are subject to the Money Laundering Regulations As a result, we will need to ask you for proof of identity and proof of address. Below is a list of acceptable identity documents for landlords acting as an individual. Cocoon require two different documents one from List A and one from List B which must be dated within the past three months. LIST A Valid signed passport Valid UK driving licence EEA member state identity card LIST B Recent utility bill Recent mortgage statement Recent bank/building society statement Valid UK driving licence (only where this has not been used as a List A identity document) State pension benefits book Home or motor insurance certificate

A Guide for Landlords

A Guide for Landlords Letting a property can be stressful, but we re here to help. The rules and regulations landlords have to follow are constantly changing. We ve created this short guide to help you