Lettings

It takes skill and expertise to negotiate a tenancy successfully through to completion and still achieve the best possible rental income. Through training and experience our employees offer expert advice on both the letting process and your legal obligations as a landlord.   Our company is both established and innovative in the local market and last year we negotiated £3.24 million worth of tenancy contracts for landlords in the south east.

Anthony James are specialists in looking after landlords, we have the tools and skills to ensure that tenants are located for the most amount of rental, with the least amount of risk in the shortest possible time.

Tenant References We reference our tenants via independent agencies who will check their credit status, employment history, residential history and character references.  The references are a guide to give you an informed choice about the type of applicant applying for a tenancy.   The reports are accurate and give a good indication about their ability to and willingness to pay.

Tenant Interviewing Our experience in the letting industry has shown us that referencing is not always enough.  This important process is often overlooked by less experienced agents who see references alone as a satisfactory yardstick. Some applicants may have fantastic references but maybe uncompromising, difficult to work with, act in bad faith and can be generally unreliable by nature. We ensure that our tenants have good references and have passed our interview process.
Anthony James offers three distinct services for landlords as follows:

Management (Bespoke and Premier) Nearly all tenants expect 24/7 service when they rent a property and as a landlord it can be difficult to live up to their expectations.  This is where our expertise can help where we are appointed to manage your property we will ensure that both your tenants and property receive the essential professional care required.  More and more tenants request managed properties because of the professional service offered and the peace of mind it brings them.   Our fully trained team is highly experienced in prompt rent collection and credit control as well maintaining proactive relationships with tenants.  Individual landlords often underestimate the burden management brings on their time and personal life.  Only highly experienced landlords with plenty of time to invest in the legal framework of tenancy law who still have the ability to maintain good interpersonal relationships with the tenant should consider managing a property themselves. We have two packages for property management and they are both designed   to give you peace of mind and relieve you of the commitments and burdens of being a landlord.  We can provide a fully comprehensive premier package or tailor a standard one to include only services highly important to you.  Such services may include collecting rent, handling legal administration 24 hour emergency helpline for tenants.  Our staff will always be happy to arrange a meeting and discuss our full list of services in order to find a package right for you.

SERVICE FEATURES INTRODUCTION SERVICE BESPOKE MANAGEMENT PREMIER MANAGEMENT Free Consultation Service Tenant referencing and interview Preparation and signing of Tenancy Agreements * Professional Video/photographic Inventory * Security Deposit holding facility * Tenancy renewals * * Rent protection warranty * * Negotiate rental increase Tenant 24 hour emergency line Annual Rent Assessment Reviews Debt Control & Recovery Services Serving legal notices Rent collection service Monthly email account statements Check in/out service Regular gas compliance auditing Property inspections Property maintenance Damage/Wear and Tear Assessment  Not available with Service       Option available    Included in your package     * Additional Fees May Apply

Compliance Information

Below is extremely important information about letting your property.  As a landlord you should be fully aware of the legal implications that exist.

Gas Appliances

All gas appliances, associated pipe work and flues should be maintained to ensure they are safe to use. An annual inspection by a qualified registered engineer is a requirement by law.  A Gas Safety Record (GSR) must also be kept with the dates of inspection and any defects identified.   This record must be available to the tenant upon signing the tenancy agreement.
After work on any gas appliance, a defined series of safety checks must be performed. Failure to do so is a criminal offense.

Energy Performance Certificate   (EPC)

Whether you're an experienced landlord or a 'first time' buy to let investor, you will need to consider energy efficiency and the laws that apply to property owners. If you're thinking of letting property, you are legally required to make the energy efficiency rating of the building available to your prospective tenants. To do this you need to obtain an Energy Performance Certificate (EPC).  The introduction of EPCs is an important step in highlighting people's awareness of energy wastage. An EPC tells you how energy efficient a property is on a scale from A to G.  An EPC will also advise on the impact the property has on the environment and provide recommendations on how to make the home more energy efficient   Anthony James can arrange for a professional
assessor to provide you a report before marketing commences.   

The Electrical Equipment (Safety) Regulations

Unlike gas appliances there is no legal requirement to have an annual safety check, however it is advisable to get appliances checked by an electrician.

• Electrical supply and appliances within a property must be ‘safe’.
• All electrical appliances (fridge, washing machine etc) must be checked at regular intervals for defects (e.g. frayed wiring, badly fitted plugs etc.).
• Any unsafe items should be removed from the property prior to offering it for rent.
• As above no statutory checking procedure or timescale exists. However, Anthony James .strongly recommends that all landlords have an annual inspection of electrical appliances including an annual electrical .supply safety check, by a qualified electrical engineer.

Furniture and Furnishings

• All furniture provided in a rental property must meet safety standards.
• All furniture must have a permanent label clearly showing that they are fire resistant.

Furniture manufactured from March 1989 should comply with these regulations and will generally have a label showing compliance.

Smoke Detectors

Although there is no legislation requiring smoke detectors to be fitted in ordinary tenanted properties, it is generally considered the common law "duty of care" meaning that the landlord could be held liable should a fire cause injury where no smoke detectors are fitted. We therefore strongly recommend that landlords fit one smoke alarm on each floor.

Houses in Multiple Occupancy (HMOs)

Mandatory HMO licensing applies to all privately rented properties with 3 or more storeys occupied by five or more people who form two or more households. If letting a HMO, landlords need to ensure that:

• The property is occupied by a specified maximum number of occupants.
• There are adequate amenities in place for the occupants e.g. kitchens and bathrooms.

Deposits

At the beginning of a new tenancy, the tenant pays the deposit to the landlord or agent, who must then ensure it is protected accordingly. There are three schemes to choose from:

The single custodial scheme, where the deposit is held by the scheme until the end of the tenancy, and is free to use. It is called the DPS. 

Or one of two insurance-based schemes where the landlord or agent keeps the deposit and pays a fee to the scheme to insure against their failure to repay money to the tenant.  Anthony James uses one of these schemes called mydeposits.co.uk

We provide the tenants with details of how the deposit is being protected within 14 days of taking it. These include:

• The contact details of the chosen scheme.
• The landlord or agents contact details.
• How to apply for the release of the deposit.
• Information explaining the purpose of the deposit.
• What to do if there is a dispute about the deposit.

Failure to comply with the above could result in the landlord being ordered by the court to pay the tenant three times the deposit amount. The landlord will also lose their automatic right to regain possession of the property at the end of the tenancy unless they have protected the deposit in the correct way.

To reduce the likelihood of disputes Anthony James recommends the following action to be taken before the commencement of the tenancy:

• Agree a detailed video (Inventory) of contents (furniture and fittings).
• Record the condition of the property and its content.
• Understand the circumstances in which a claim could be made on a deposit and what would be classed as fair wear and tear.

At the end of the tenancy, the condition and contents of the property should be checked against the Inventory. The landlord or agent should agree with the tenant how much of the deposit will be returned. The tenant should then receive the agreed amount within 10 days. If no agreement can be made about how much of the deposit should be returned, there will be a free arbitration service offered to resolve the dispute

Landlords That Get it Wrong

Assume as you live close it will be easy to manage the property yourself.   

If the tenant losses their income living closer will not help you.

You know someone who is a handy man, so would prefer to manage the property yourself.   

While this may be useful, a handy man can’t help you with advice if the tenant wishes to make changes to the tenancy agreement, has issues with neighbours or has intentions to decorate your house.

Get an EPC after a tenant has been found. 

EPCs are designed to help tenants make an informed choice about the property before they view it.   Some landlords feel it something they do when a tenant has been located and risk breaking the law in the meantime.  Get an EPC as soon as possible

Restrict your market.  

Understand what type of property you have, we often hear landlords say they only want tenants with no children when they are attempting to rent a 3 bedroom family home. This may sound strange but it’s true, always let us help identify the right profile and provide the professional advice.

Assume you get more money furnished.  

Unless you’re letting a one bedroom property on a short term basis tenants will not pay a premium for furniture.   Letting a larger property will often mean tenants provide their own furniture.  The landlord should look to provide kitchen appliances in every case.

Assume certain tenants look after your property better than others.   

There is no evidence to suggest that a professional accountant looks after a property better than a single mother in receipt of housing benefit.   The reality is that it depends on the nature of the individual and some people, despite their lack of status will be just as clean and tidy as others.  

Have a Void Period.  

Nothing looses a landlord more money than a period of vacant possession.  You will lose rent and also have to pay utilities and council tax.    If the house needs updating, get it done quickly even if it means paying someone.   By attempting to do the work yourself on the weekend you could lose more money than you would have saved.  At Anthony James we see void periods like a plague that eats at your purse.

Overvalue your property in order to accept an offer. 

Tenants will make offers from time to time, but it is not as common as the sales market.   Remember tenants will avoid giving the impression they cannot afford the house or look to take advantage with your good nature.   As agents we desire your instruction but please listen to our valuations objectively.  Look at your figures annually rather than monthly and avoiding void periods is essential.  Also if your mortgage is higher than the rental advised the best option you can do is seek another mortgage not a higher price.  

Assume the market has not changed. 

Like all investment markets values can go up and down.   It is sometimes hard for a landlord to except less money for their property from a new tenant especially if they were getting more from a previous one.  The reality is that the market may have changed or you were fortunate to receive the higher amount previously.

Landlords That Get it Right.

Market the property at the right price.  

By advertising at the correct price you attract more viewers and could receive more than one application.   Many tenants search the internet for their next home.  The internet is an extremely data sensitive medium and will only show property in exact fields.  For example if you wish to achieve £800 don’t advertise at £825 because tenants searching up to £800 on the internet will not see your property appear on their shortlist.   Internet portals next price level is £900 and tenants don’t normally go beyond what they are seeking. 

Use a managing agent.   

The best landlords, professional and first time alike recognise the benefits of a managing agent.   They maximise their income, attract more tenants and the fees are tax deductible.  A managing agent also allows you to get on with the other aspects of your life such as property investment, time with your family or maybe your normal day to day job.  Having a managing agent is also important security if things don’t go according to plan.   Investments are more profitable when administrated by a professional, e.g. pensions or unit trusts, the same applies with property. 

Tenants prefer managing agents due to the security it offers.   

Not every landlord is a rouge trader but tenants are constantly wary and normally request information on who manages the property.

Always have a clean well maintained property.   

Don’t expect some people to see through ongoing work or accept promises.   For some tenants with foresight this maybe fine but making sure your house is clean and in good repair will increase your chances of letting

Include the garage.  

If your property has a garage, include it in the price and don’t keep it for your own purposes.  It is extremely detrimental to the marketability of the property. 

Suspend marketing once a tenant is located.   

If a tenant has placed a deposit in good faith a landlord should generally respond in the same good manner.  This normally means suspending marketing while the tenant’s references are taken up and contracts are signed.  Landlords who try to burn the candle from both ends ultimately deter tenants and end up with empty properties.