Landlord Guide
Why Choose Milestone Collis
We are proud of our reputation for delivering good quality rental properties to the market, ranging from studio flats to more exclusive and extensive residences.
We never forget that your home is your most important asset. We can assure you that by instructing us to act as either your Letting and/or Managing Agents your asset will be protected and be in professional, experienced and capable hands. We believe that the development of a close working relationship with our Clients and Landlords provides a clear understanding for us to achieve the highest level of care and attention to your property.
Letting your property, particularly for the first time, or with a new letting agent, can be a worrying experience. Thus the most important consideration for us is to provide you, the Landlord, with the best possible service and to secure the appropriate tenant for your property.
Our service is both personal and friendly while at the same time maintaining the highest standards of competence and professionalism in every regard to the letting and management process. We are members of ARLA (Association of Residential Lettings Association) and are governed by a code of practice which provides a framework of ethical and professional standards at a level far higher than other organisations demand. We are regularly updated with new legislation which affects both Landlord, Tenants and ourselves as Agents and is strictly adhered to. All the services we offer can be tailor made to your requirements as the Client, from a Let Only Service through to a Full Management Service and our fees are adjusted accordingly. We are both open, upfront and with no hidden agenda or hidden costs.
If you would like us to come and view your property we will gladly do so to discuss the level of service we deem appropriate and current market rents pertaining to the property for the condition and its location.
When marketing your property we will have photographs taken to show the best features and will draw up clear and explanatory details for prospective applicants. We will market your property on all the major internet and web portals together with our own website to maximise its exposure. In addition, we will contact all applicants who are registered with us within the range of suitability for the property in question.
We will assure you that all viewing applicants will on all occasions be accompanied by a member of our staff who will of course respect any current tenants' wishes within reason.
Our Services & Procedures
Letting Only Service (7% + VAT):
Our Letting Only service includes marketing of the property and carrying out viewings, leading to the introduction and vetting of prospective Tenants, including a full credit check by an independent reference company of the prospective Tenant. Once references prove satisfactory, we then proceed with the legal formalities of preparing the Tenancy Agreement and overseeing the check in process. Following this, one month's rent will be collected by us and credited to the Landlord's Client Account, less our agreed fee, and any balance of fees will be remitted to you. Managing the tenancy, including the maintenance of the property and rent collection, will then be the responsibility of the Landlord.
Letting and Rent Collection Service (9% + VAT):
Our Letting and Rent Collection Service includes marketing of the property and carrying out viewings, leading to the introduction and vetting of the prospective Tenants, including a full credit check by an independent reference company of the prospective Tenant. Subject to this proving satisfactory, we proceed to prepare the Tenancy Agreement and oversee the check in process. Again, following this, the monthly rent will be collected by us and credited to the Landlord's dedicated account, less our agreed fee, based on the first two months' rental.
Any late payments are vigorously pursued by us from the next day they are due and Landlords are kept fully advised of any dilatory payment. Deposit and rent payments are held in a fully protected separate Client Account at NatWest Bank. Managing the tenancy, including the maintenance, will then be the responsibility of the Landlord.
Full Management Service (15% + VAT):
This is our prestige, fully inclusive Service, which includes all of the vetting and pre-occupational procedures as detailed above.All rental properties must have a Gas Safety Certificate which we will make sure is current at all times and any specific recommendations thereto are met. All properties also require an EPC (Energy Performance Certificate). This certificate lasts for 10 years and by law has to be given to each prospective tenant. If there is not an EPC on the property we arrange for this to be done. We offer a 24 hour, 365 day emergency contact number which is answered by us at all times giving you the Landlord, and the Tenants peace of mind for any unforeseen eventuality, i.e. leaks, repairs etc.
Towards the end of the tenancy, we will liaise with you to agree Tenancy renewal terms and once approved, seek to renew the Tenancy Agreement or arrange to check them out as applicable.
Should there be any void rental periods, we will be pleased to continue our Management Service and will also oversee any renovation projects that may be needed between rentals. We will of course discuss this with you prior to a tenancy ending. Subject to mutually agreeing upgrading/modernisation to the property, quotes will be obtained and approved by you and all works will be checked and signed off before any monies are paid over to a contractor.
Property Management Only Service:
Our Letting Only service includes marketing of the property and carrying out viewings, leading to the introduction and vetting of prospective Tenants, including a full credit check by an independent reference company of the prospective Tenant. Once references prove satisfactory, we then proceed with the legal formalities of preparing the Tenancy Agreement and overseeing the check in process. Following this, one month's rent will be collected by us and credited to the Landlord's Client Account, less our agreed fee, and any balance of fees will be remitted to you. Managing the tenancy, including the maintenance of the property and rent collection, will then be the responsibility of the Landlord.
Landlord Obligations
1. RENT The monthly rental figure quoted to potential tenants is INCLUSIVE of all outgoings unless otherwise stated, with the exception of gas, electricity, telephone, water and fuel, and if appropriate, costs in obtaining mortgagees consent.
2. MORTGAGE CONSENT
Should the property be subject to a mortgage, it is necessary for the Landlord to have sought and obtained the mortgagees consent for letting, prior to any agreements being signed and exchanged. We strongly recommend that this consent be sought immediately the decision to let has been taken. Should the mortgage provider require any specific wording/clauses for insertion into the tenancy agreement Milestone & Collis Ltd must be advised of this without delay, in writing, and prior to the tenancy documentation being prepared. Most lending institutions require written applications from their customer. We cannot, therefore, take responsibility for advising such organisations of the intention to let or re-let. We further recommend that sufficient funds are available in the account to pay the mortgage to ensure that should rent be received late no penalties are incurred on non payment of mortgage instalment by the Landlord.
3. INCOME TAX
All rental income is subject to UK income tax at the appropriate rate. Milestone & Collis Ltd as your Agent is obliged to account to the Inland Revenue for tax at the basic rate on UK rental income for all non-UK residing Landlords and obliged to complete an Inland Revenue Return under Section 19 TMA 1970. This is an accounting to the Inland Revenue of the yearly income/expenditure for all resident Landlords. This includes Trusts, Companies, British Armed Forces and Crown Servants.
Under the present system of self-assessment, Landlords may apply direct to the Inland Revenue for an 'approval number' enabling rent to be paid from us to the Landlord without deduction of tax. Once we have received, direct from the Inland Revenue, their appropriate certificate containing the approval number we can then account to the Landlord without any tax deduction/retention. Unless we are in receipt of a letter of authorisation from the Inland Revenue, we will withhold monies from rental received as advised by the Inland Revenue. No interest is payable on monies held.
4. INSURANCE
The Landlord must insure the property (buildings) and ensure that its contents are comprehensively insured to include third party and occupiers liability risks, together with terrorism cover where appropriate. The Landlord's insurers should be advised that the property is to be let and the term of the proposed letting. After the tenancy commences, it is the Landlord's responsibility that the policy wording be checked to ensure cover continues during the term of the tenancy as some policies exclude such cover. All tenants are advised that their own possessions should be insured separately. Milestone & Collis Ltd, Chartered Surveyors are pleased to advise on the reinstatement value of your property for insurance purposes. We would also recommend that the policy be extended to include loss of rent for the duration of the term of the letting agreement in the event of the property becoming uninhabitable by an insured risk.
In accordance with our ARLA Assured Shorthold Tenancy Agreement, liability of the Council Tax rests with the tenant/occupier. However, Landlords remain liable to pay Council Tax on unoccupied property. Landlords must advise the Local Authority in writing of the commencement of a tenancy.
6. LEASHOLD PROPERTIES - CONSENT FOR LETTINGS
If the Landlord is a leaseholder or a tenant, it is necessary for the Landlord to have sought and obtained consent from the Freeholder or Head Lessor of the intended letting to proceed. It is essential that the Landlord refers to the lease to see whether this is a requirement and to obtain written consent prior to any sub tenancy proceeding. Should the Freeholder/Head Lessor require any specific wording/clauses for insertion into the ARLA Assured Shorthold Tenancy Agreement, Milestone & Collis Ltd must be advised of this in writing and prior to the tenancy documentation being prepared. Any additional costs involved in seeking consent are to be borne by the landlord. If you are in any doubt as to your position, we recommend legal advice immediately be sought.
7. POST
We strongly advise Landlords to arrange for their post to be re-directed via the Post Office rather than relying upon the tenants to forward it on their behalf. Milestone & Collis Ltd cannot be held responsible for the forwarding of mail.
8. FIRE REGULATIONS AND SAFETY REQUIREMENTS
It is an offence to 'supply' furniture which does not comply with the Fire Resistance Regulations as in Regulation 14 of the 1988 Regulations. Any furniture provided by the landlord must carry appropriate labels and meet the Fire Resistance Regulations.
9. SMOKE DETECTORS - SMOKE DETECTORS ACT 1991
All properties built from the 1st June 1992 must be fitted with mains operated fire detectors on every floor. However, we strongly recommend that smoke detectors be installed in all parts of the property with a minimum of one unit per level. It is also recommended that a carbon monoxide detector be fitted.
10. GAS SAFETY CHECKS - THE GAS SAFETY (INSTALLATION & USE) REGULATIONS
1998 Gas regulations, gas appliances, pipework flues and installations must be checked annually in each new tenancy. A report must be issued to Milestone & Collis Ltd confirming that a check has been carried out by an approved person who is on the Gas Safe Register. Under the Gas Safety Regulations all lettings agents are responsible for holding on file a Certificate issued by a Gas Safe Registered contractor confirming the supplies and appliances comply with regulations.
Where the gas meter is installed in a meter box, the installer should supply the Landlord with a suitable labelled key to the box and advise on the location of the shut off valve.
Where the gas meter is installed in a meter box, the installer should supply the Landlord with a suitable labelled key to the box and advise on the location of the shut off valve.
11. ENERGY PERFORMANCE CERTIFICATE (EPC) - Energy Performance of Buildings Regulations (2007/991)
All prospective tenants must be provided with an EPC, a result of the European Directive on the Energy Performance of Buildings (EPBD).
EPCs can only be produced by an accredited Domestic Energy Assessor or Home Inspector. The EPC shows two things - the Energy Efficiency Rating (relating to running costs) and the Environmental Impact Rating (relating to the carbon dioxide emission) of a dwelling.
The EPC is valid for a period of 10 years and may be used as many times within that period. However a residential property cannot be marketed for rental until a valid EPC has been issued.
The Electrical Equipment Safety (Regulations 1994) applies to the electrical supply, along with new and second hand equipment including mobile and fixed appliances, e.g. toasters, kettles, irons, vacuum cleaners, cookers etc., and requires the property and electrical content to be supplied in safe working order. It is emphasised that this is a check and does not constitute servicing of any appliance.
13. PREPARATION AND PRESENTATION OF THE PROPERTY
We recommend that all properties are presented in a clean and orderly fashion. If a property is to be let UNFURNISHED fitted carpets, large white goods fixtures and fittings should be the only items left in the property. The Landlord should clear all hall cupboards, lofts, cellars and the like for use by the tenant. Where the property is being offered FURNISHED, personal effects and additional unnecessary items should be removed. Please ensure that only basic sets of kitchen equipment, crockery and cutlery remain to minimise further inventory expenditure and allow space for the tenant's personal items.
14. GARDENS
It is standard industry practice for tenants to be responsible for the upkeep, care and maintenance of gardens and outside areas. However, this is an area of the property that is difficult to reinstate should this not be cared for properly. Should the Landlord be particularly concerned about this area, we therefore recommend that a gardener be offered and included in the rent. Please discuss this with your individual representative at Milestone & Collis Ltd.
15. END OF TENANCY
Should the tenancy be terminated by either party or come to its natural end, Milestone & Collis Ltd will immediately commence the remarketing of the property on the same instruction basis as previously agreed, unless otherwise instructed.
16. STAMP DUTY
It is a legal requirement to have some contracts stamped in line with The Stamp Act of 1891 section 15 as amended by the Stamp Duty (Land Act), which came into force on 1st December 2003. Milestone & Collis will therefore date and forward the tenant's signed counterpart to the Inland Revenue for stamping if appropriate, the original document will then be held on file with Milestone & Collis Ltd unless otherwise instructed. The Landlord's signed tenancy agreement will be forwarded to the tenant with advice regarding stamping.
17. DATA PROTECTION ACT
All information held on file will be held in line with the Data Protection Act 2018 (incorporating GDPR). However the Landlord hereby authorises Milestone & Collis Ltd to give their contact details to the tenant/occupants of their property and to any utilities companies where appropriate. Please note that this will include all telephone numbers including mobiles unless otherwise instructed in writing by the Landlord.
18. FAIR WEAR & TEAR
Rent paid by the tenant includes for an element of fair wear and tear upon the property and contents. It is not reasonable to expect the property or contents to be in the same condition at the end of the letting as at the commencement. We recommend that items of monetary or sentimental value are not left in the property whilst it is let. Any damages charged to the tenant must take fair wear and tear into account and so the full replacement cost may not be recoverable depending on the age of any damaged items.
19. KEYS
One full set of keys must be provided to each tenant (up to a maximum of 4 sets) on completion of the Tenancy Agreement. These will be recovered from the tenants on termination of the Tenancy. The Landlord should retain one full set of keys and in addition, lodge (securely stored) one set with Milestone & Collis Ltd.
