Landlord Management
Moreland Homecare is a highly successful established department of Moreland. You need to be confident that the managing agent is looking after your property. After all, it's a valuable investment and must be treated that way.
We provide a full service to our clients as standard management practice:
Arranging Energy Performance Certificates
Sourcing and referencing suitable tenants
Preparation of all legal documentation including Notices and Gas Certificates
Arranging inventory and schedule of condition
Transfer of utilities
Collection of monthly rent
Holding security deposit within a Tenancy Deposit Scheme
Inspections on a 6 monthly basis
Dealing with general maintenance
Arranging check in on commencement and check out at end of tenancy
Negotiating deductions for damages and dilapidations at end of tenancy
We also offer:
Referral of surveyors, accountants and solicitors
Search for suitable investment property
Decorating and refurbishment service
Completing documentation for Non Resident Landlords
rental collections and security deposit
Rent is collected monthly from the tenant. Once the funds have cleared we will arrange for payment to the Landlord (after deduction of our fees and any expenses occurred)and send an itemised statement. We hold the security deposit (equivalent to 4-6 weeks rent) against any damages and dilapidations in accordance with the Tenancy Deposit Scheme in a regulated Deposit Account.
property inspections
Visiting the property no less than two times a year during the tenancy and if necessary reporting back on its visual condition. (Note: this is not a structural survey and we cannot be held responsible for hidden defects).
end of tenancy
A check out is carried out at the end of the tenancy and a Schedule of Dilapidations is prepared, if necessary. Any repairs will be carried out to bring the property back to standard, unless otherwise instructed, and deducted from the tenant’s deposit.
maintenance
We will deal with any maintenance issues that arise and act upon them. Normal practice is that we will authorise works up to £100 without further instruction and payment deducted from your next statement. After office hours, an emergency plumber is available.
furniture
It is an offence to supply certain furniture in the course of business unless it complies with the ‘Cigarette Test’, the ‘Match Test’ and the ‘Ignitability Test’. The regulations cover, in general terms, all upholstery and upholstered furniture, loose fittings, permanent or loose covers. The Regulations do not apply to any furniture which has been manufactured before 1st January 1950.
safety regulations
Your attention is drawn to these Regulations which impose obligations
i) on any person who owns a gas appliance in premises let by him to ensure that such appliance is maintained in a safe condition so as to prevent risk of injury to any person and
ii) to ensure that such appliance is checked and that an appropriate certificate is issued for safety at intervals of not more than 12 months by an approved ‘Gas Safety’ registered person.
iii) to give such a certificate to the Tenant at the commencement of the Tenancy
leasehold property
Many head leases require that you obtain consent to sub let before entering into any agreement involving letting residential property. Usually this is a straightforward formality to ensure that rental property is let to bona fide tenants who will abide by the terms of the head lease. It is important that you refer to your managing agent / freeholder before letting the property.
mortgages
In most cases when a property is subject to a bank loan or mortgage, permission is required from the lender before the property can be let. It is up to the Landlord to obtain necessary permission and we strongly advise this is applied for at the earliest opportunity. When you sign the contract with us you are confirming that you have the right to instruct us to let your property
tax and landlords
Landlords need to be aware that the Inland Revenue have to be informed within 6 months of letting a property in the UK. Failure to do this could result in penalties, interest and other consequences. You must declare ‘Rental Income’ from rental properties.
overseas landlords
The Non-resident Landlords Scheme is a scheme for taxing the UK rental income of non-resident landlords.
The scheme requires UK letting agents to deduct Basic Rate tax from any rent they collect for non-resident landlords. If non-resident landlords don't have UK letting agents acting for them, and the rent is more than £100 a week, their tenants must deduct the tax. When working out the amount to tax, the letting agent/tenant can take off deductible expenses.
Letting agents and/or tenants don't have to deduct tax if HM Revenue & Customs (HMRC) tells them not to. HMRC will tell an agent/tenant not to deduct tax if non-resident landlords have successfully applied for approval to receive rents with no tax deducted. But even though the rent may be paid with no tax deducted, it remains liable to UK tax. So non-resident landlords must include it in any tax return HMRC sends them.
insurance
Landlords are required to make sure both the property and its contents are fully covered for insurance. You must inform your insurance company that the property is to be let, check that the conditions of the policy are complied with and that there are no restrictions on letting.
AST legislation 1st October 2010
By 1st October 2010 tenancies up to £100,000 will by law have to register existing and new rental deposits.
Currently Assured Shorthold Tenancies apply to rentals of less than £25,000 per year. From 1st October 2010, this threshold will increase by law to £100,000. The new legislation will apply to all current and future rentals. Hundreds of landlords will be affected, especially those renting to several tenants sharing. Before the legislation, landlords with a rental income of more than £25,000 did not have to register the tenants deposit with a scheme. The Inland Revenue points out how it only takes five people paying £100 a week each in rent for the annual rent to be above £25,000 a year.
Landlord’s obligations:
•Pay the deposit to the Deposit Protection Service or register it with Tenancy Deposit Solutions or mydeposits;
•Inform the tenant which scheme it is protected under, and provide proof that it has been registered;
•Do this within a 14-day timescale or risk legal action by the tenant which could, in some circumstances, involve the landlord having to pay the tenant a sum of up to three times the original deposit.
Landlords who fail to register the deposit will be exposed to claims by tenants.
Also a landlord who fails to register the deposit will be unable to get possession of a property on a “no fault” basis. He will be unable to serve a section 21 notice - that's the legal notice obliging the tenant to leave the property. The landlord cannot get a possession order until the deposit is lodged
The new law will apply across the UK but will hit hard in London in particular, because so many tenants pay above £25,000 per year and under £100,000. Many homes in multiple occupation - with, say, several students - will also be affected.
Whatever its disadvantages, the new measure comes into effect imminently. anyone flouting it, even if they plead ignorance of the law, faces drastic consequences.
