Landlord Guide
Welcome to Harringtons Lettings We have been acting for landlords and tenants since 1993 and have a wealth of experience. Lettings has been one of the safest and best performing investments as well as combining the benefits of a monthly income with the potential for capital appreciation over a long period of time. Many of our landlords relationships with us are of a long term nature so that we can maximise their investment. Our landlords, whether they are accidental landlords or commercial, all have a common desire to ensure that their most expensive asset is maintained to a high standard by professionals that they can rely on. With this in mind we have put together an experienced team and an unbeatable formula for letting properties. There are very few agents, whether corporate or individuals, that can compete with Harringtons. We understand that choosing your letting agent is one of the most important decisions that you can make and will have an impact on the value of your asset or investment. You will need an agent that you can rely on to help you, that has expertise in the field, resources and an ethos to deliver a consistently high quality of service and, more than ever, full knowledge of the law. The team we have assembled are some of the most qualified in the industry and fully committed to caring and providing comprehensive customer service. We are all fully trained and have exceptional knowledge of the market. You can always rely on our expertise, having been in the property market for many years and having many clients since we started in 1993. We work very closely with our landlords and appreciate that they all have different requirements. Having taken pride in our independence, we can be flexible and work with you to ensure that you get the best possible rent as well as tenants for your property. We hope that you will decide to trust us to look after your property and enjoy the peace of mind that comes with placing your investment in our staffs hands. Harringtons Lettings 1 www.harringtonslettings.co.uk
Contents 4 Choosing The Right Tenant 5 Marketing and Advertising 8 The Harringtons Setup 9 Top Tips for Landlords 12 The Rules and Regulations of Lettings 13 Harringtons Lettings Services
Honest, reliable and a superb service throughout. From the first meeting to now, we have nothing but praise for this committed and friendly team. A joy to be involved with! Mr & Mrs Chapman
Choosing The Right Tenant We will only place tenants in your home that we would have in our own home ourselves. We understand the importance of the right tenant for you. Our promise is that we will only place people who we believe will make good tenants into our landlords properties. We will do everything in our power to ensure that we find reliable tenants who will pay their rent on time and look after your home, putting your mind at ease. Tenants Guarantors We were one of the first agents to introduce Guarantors for all of our tenants. We found that often if tenants are late it is best to have a guarantor who will pay their rent in the event that they do not. This is often their parents and we find not only that this is useful when tenants go into arrears but also with the day to day management. Many letting agents still don t provide this service. www.harringtonslettings.co.uk 4
Marketing and Advertising The lettings market has dramatically changed in the last five years and it is now even more important to get the marketing absolutely correct in order to achieve your premium rental income. Over 92% of all property enquiries come through the internet so your property has to be advertised in the correct way and from the day it hits the market. There are many different aspects to this and if it is not done correctly you will not generate the best possible price. We advertise on all the major property websites including Rightmove, Zoopla, Prime Location and also a few niche websites too. Your property will not get better exposure anywhere else! Harringtons are also very proud to be the grandstand sponsors at Brighton Racecourse which gives us great exposure across the City and allows us to host events where we will actively promote your property. Professional Photography It is very important to get the advertising correct on these websites. Figures from Rightmove say that 70% of enquiries come within the first week of hitting the website so it is vital to get the first advertising correct. We have invested heavily in photography to make sure that our staff are professionally trained photographers. This allows us to get better photos than every other agent. Rightmove figures show that properties with professional photographs get 55% more enquiries than properties without. The examples on the next page show how our photography has worked in getting properties let compared to our competitors. Both examples were marketed by us and a competitor. Our photographs were very different and, as we expected, we had a substantial amount of interest and let both properties immediately. Open Days We have created an open day in the lettings industry which ensures that we have multiple viewings on one day when your property first becomes available. This gives us an unrivalled edge over other agents and ensures multiple viewings on one visit. This ensures competition between tenants not only to have the property let quickly but we can choose the best tenant for your property. Harringtons extra advertising service for managed landlords We have paid for premium listings and featured properties on Rightmove. Current figures show that premium listings get 34% more enquiries and featured properties get an extra 22%. This all makes a difference and gets your property let quicker for you. We invest heavily in our marketing where a lot of other letting agents don t. 5 www.harringtonslettings.co.uk
Example 1 Harringtons Lettings Photo Other Agents Photo Example 2 I checked out my property online and Harringtons made it look amazing, I nearly took it myself! A very quick service and tenants were found in days. Mr Orchard Harringtons Lettings Photo Other Agents Photo www.harringtonslettings.co.uk 2
I had a really good experience with Harringtons Lettings, they were helpful from my first enquiry, quick to respond to emails and calls, very pleasant to deal with. I now have two sets of great tenants that Harringtons found and have never looked back. The property management team are also fabulous and are extremely friendly and knowledgeable. Mr. and Mrs. Miles
The Harringtons Setup At Harringtons we have a unique and specific way of setting up our business to maximise efficiency. We have a specialist lettings department and an in house administration and management department. This allows us to have our negotiators out all day every day doing viewings and not having to do the paperwork because the administration team only deal with day to day running of your property to ensure a smooth transaction. We work hard to train both departments and keep them updated with the ever changing law but also to ensure that they are focused and provide an unrivalled customer service. Lettings Team We have substantial experience in the property industry and are second to none when it comes to knowledge of the rental market. Our staff are fully trained making us the most reliable and wise choice to let you maintain your property. We are local experts and we are able to give you any information or advice on the local rental property market to include whether there are any major employers or improvements to public transport infrastructure locally that could affect your property. Some new landlords can be guilty of getting their asking price entirely wrong, either by setting their demands to low and missing out on income or asking far too much and struggling to let their property, so do not make this mistake. At Harringtons we have more than 30 years experience in the property market, so we know exactly how to maximise your return by ensuring tenants are not put off by the price. We deal with all aspects of property rental, including free valuations and viewings, so if you have any questions or queries please give us a call or e-mail us. Don t worry, although we are letting agents, we don t bite and are here to help. Tel: 01273 724000 Email: viewings@harringtonslettings.co.uk Admin Team We deal with the day to day running and administration of your property. We specialise in tenancy agreements, deposits, inventories, inspections and much more. There are numerous legal requirements when letting a property, such as a place to place all deposits and a government backed Tenancy Deposit Protection Scheme. Harringtons administration staff will take the strain off of you by meeting all the letting demands placed on rental property owners, giving you peace of mind and confidence that every regulation is being adhered to. Our staff are fully trained having in excess of 30 years experience within the letting market especially with ever changing statutory requirements. If you have any questions regarding the letting of a property then give us a call or e-mail us. We keep the company running efficiently and are here to help with any queries you may have. Tel: 01273 749169 Email: admin@harringtonslettings.co.uk www.harringtonslettings.co.uk 8
Top Tips for Landlords There are many things that you should be aware of and do as a landlord. We love to share our expert knowledge with you. If it is mortgaged, ask your lender s permission to let your property. You might need to switch to a specialist buy-to-let mortgage. Obtain your freeholder/management company s consent if your property is leasehold. Get your property ready for rent Good first impressions count. Clear your front garden and decorate your property in neutral colours. All small touches will make a difference. Try and create a feeling of space by taking away everything that you are not planning on leaving at the property. The better the property, the better the tenant Keeping your property immaculate and ready to let can really guarantee a good tenant. Other characteristics should include that they are clean - a tidy property with reasonable fittings and a neutral décor is always popular. If this could also include Wi-Fi, cable or satellite TV these are always preferable. Always ask for a Guarantor We find that most tenants are able to obtain a Guarantor, preferably being their parents, who can then guarantee their rent. This gives you the comfort to make sure that your property is let with a backup in case the tenants don t pay the rent. It is unusual but it can happen. Where a Guarantor enters into an agreement he or she will normally agree to meet the full obligations of the tenancy agreement on behalf of the tenant. This will include rent arrears, damage to the property and any other liabilities. This is most important. Deposit Collect a security deposit and protect it. Every deposit must now be registered with a scheme within 30 days of receipt. Tenants need to be informed in writing of which scheme is used to protect their deposit. This is a specific form and failure to serve correctly leads to a penalty of three times the deposit. Tenancy Agreement Obtain a proper Tenancy Agreement. To avoid any costly mistakes you should get your agreement drawn up by a letting agent that has been approved by Trading Standards. Our tenancy agreement has been approved by trading standard where many other local agents haven t had theirs reviewed. Inventory Always have an Inventory carried out to the property. This is a comprehensive document covering exactly what the state of the property is when the tenant took it, including photographs. If you do not have such a document then please ask Harringtons Lettings to discuss this with you. It is critical as without it you will not be able to potentially make any deductions from the deposit at the end of the term. Always make sure that the tenant signs a contract We at Harringtons have had our contract approved by Trading Standards and it is important to make sure that you do not have an unfair contract term. If you do then you could be open to criticism or the contract may be unenforceable. Always make sure that you use a letting agent for a contract. Things to look out for during the tenancy Carry out quarterly inspections. Even if your tenants pay rent on time and you have no issues during the tenancy. It is recommended to attend your property to make sure that there are no major problems and that the property is well looked after. Taking your property back If you need to seek possession, be sure you serve the right notice. If your tenants default before the fixed term has come to an end you could serve notice under Section 8 of the Housing Act 1988. You could also serve notice under Section 21(1)(b) to get your property back at the end of the fixed term. Always make sure you serve notice in writing. Please make sure that all of the paperwork is correct before you serve such notice as these can often be invalid. Carry out a check out inspection Check your Inventory with the current state of the property. Make sure you have photographic evidence of any damage caused by the tenant in case you need to make a claim from the deposit. 9 www.harringtonslettings.co.uk
Harrington s Lettings is blessed with an extremely good administrator. They were efficient, helpful and very pleasant to liaise with. Harrington s Lettings is the safe pair of hands in the world of the Brighton and Hove rental market. Dean Golding (Portfolio Landlord)
Their knowledge of the law is invaluable, they keep me updated with everything and do everything needed for me. Mrs Wilkins
The Rules and Regulations of Lettings It is very important to be up to date with the law and the different regulations of lettings. These are ever changing and unless you are up to date you could be penalised by the law. We keep all our landlords up to date with new laws and the implications for them. Energy Performance Certificate (EPC) In order to advertise your property you will need an Energy Performance Certificate (EPC). Did you know? Many letting agents aren t aware that as from 2018 it will be illegal to rent a property with a rating of F or G. Landlords also don t know that in 2016 all tenants can ask for all improvements to be carried out to bring their rating up. We have signed up an exclusive deal with a local company that can help in this area if required. Right to Rent You must check that a tenant or lodger can legally rent your residential property in England. Before the start of any tenancy you must check that all tenants aged 18 or over (even if they are not named on the tenancy or there is no tenancy agreement in writing) that they are allowed to stay in the UK, even for a limited time. You need to do checks 28 days before the start of the tenancy. In the event that you do not do such a check you can be fined up to 3,000. Smoke Alarms New provisions regarding smoke and carbon monoxide detectors in all residential properties were introduced in October 2015. All residential properties now have to have carbon monoxide detectors for any premises that has had a gas safety check undertaken. A smoke detector must now be fitted on every floor of the property. Maintenance New laws are in place regarding maintaining and looking after a property. All reported works now have to be dealt with within fourteen days of it being reported. If it is not, the tenant can refer the matter to the local authority who can serve the landlord with an enforcement notice. Once the notice has been served by the local authority the landlord cannot serve a Section 21 Notice (notice to end the tenancy) for a minimum period of either six months or until such time as six months after the works have been cleared. Did you know? Many landlords and letting agents aren t also aware that once the notice is served under these circumstances the tenant can leave at any time not upon two months notice i.e. they could leave the next day and the landlord would have to repay any money he has been given. We also believe that if such a notice is served it is highly likely that the tenant will be entitled to compensation. Deposits This is an ever changing law and there is a very strict process which needs to be followed so you are not penalised financially. When receiving the deposit it has to be registered within thirty days in a government recognised deposit scheme. We use the Deposit Protection Service. Did you know? Under new recent law landlords/lettings agents have to serve on tenants details of the scheme to include their terms and conditions of the scheme itself. This is a major change and many letting agents aren t aware of it. They often serve the notice but not the terms and conditions of the scheme. www.harringtonslettings.co.uk 12
Harringtons Lettings Services Introduction Service This service is for landlords who do not require support with their tenancy and are familiar with property management and the up to date law. The service provided will be as follows:- Initial rent assessment Marketing and promoting of your property Accompanying all prospective tenants to viewings Provide you with feedback Obtaining a Guarantor who will guarantee the tenant s rent or ask them to pay the rent up front Prepare tenancy and move the tenant in Optional extras are:- Inventory this includes a comprehensive report on the condition of your property as well as full photographs Checkout giving you a professional report of what should be deducted from the tenants deposit to include full photographs Deposit registration registering the deposit and providing the relevant notices to the tenant to ensure no penalty for you Rent Collection Service Rent collection service is for landlords who want to be much more hands on and have the time to deal with the tenants problems on a day to day basis. They will deal with all property maintenance throughout the tenancy and it includes everything covered within the Introduction Service plus:- Deposit registration registering the deposit and providing the relevant notices to the tenant to ensure no penalty for you Ensuring that the tenants rent is paid on time and promptly into your account from us by BACS Tenancy renewal and negotiation of rent increases Optional extras are:- Inventory this includes a comprehensive report on the condition of your property as well as full photographs Checkout giving you a professional report of what should be deducted from the tenants deposit to include full photographs Fully Managed Service For landlords who want expert support throughout their letting experience. Fully managed includes everything the Introduction and Rent Collection Service provides plus the following:- Professional photography Premium listing and Featured property on Rightmove Inventory with full photographs Three monthly visits to your property during the tenancy to include full report with photos Check out report Deposit registration Carrying out work and arranging maintenance and repairs as required Advice on all of the up to date new laws Looking after you and your property throughout the tenancy Arranging the gas safety check Dealing with all deposit returns to tenants 13 www.harringtonslettings.co.uk
Harringtons Lettings Premier Service and Rent Guarantee Harringtons Lettings Premier Service and Guarantee is exclusively available to Harringtons Landlords and enables us to provide the most comprehensive service that includes all of the managed service plus our guarantee with respect to unpaid rent and legal fees. This is a premium service for landlords who wish total peace of mind and includes all of the managed services plus:- Legal expenses of obtaining possession of your property of up to 10,000 for any one claim Rental income arrears to a maximum of 4,000. We have used Harringtons Lettings services for many years since we left the United Kingdom and we are very pleased with their services. The team is friendly, professional and understand how to deal with our property even though we are thousands of miles away. Mr & Mrs Everest
Harringtons Lettings 109 Western Road, Hove, BN3 1FA. Tel: 01273 724000 Email: valuations@harringtonslettings.co.uk arringtonslettings.co.uk www.harringtonslettings.co.uk