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Maximise the value of your property

Info for Landlords

The decision to rent out your property can be quite unnerving. Getting the right
tenant, the right price and ensuring the property is well maintained are just some of
the considerations that our lettings team keep front of mind when working on your
behalf.

Listed below are the two types of services we offer:

Let Only + Tenant Sourcing Let + Full Management Service

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Hints + Tips for Landlords:

We would recommend the following:

Payments to the Landlords:
The tenant pays by standing order on the 1st of each month, which takes four
working days to hit our account. We then start to make all payments to landlords on
the 14th assuming that the tenants payment has hit our account. From time to time
payments can and do arrive late, and we endeavour to pay those as quickly as
possible. When a payment has not hit our account by the 5th of the month, we then
attempt to contact the tenant to confirm why payment has not been received and
chase. We will always endeavour to inform you should payment not be received by
email, or if you state otherwise in writing.

You're Mortgage Payment Date:
We recommend that you ask your mortgage company to move your payment date
back to the 20th of each month. If a tenant is late in paying, then it helps you to
ensure payment by the payment date.

Furnish or unfurnished: You are entitled to a 10% deduction for the wear and tear
of your furniture. This 10% is taken off the rental income - so on a rent of £1,000 per
month, £100 can be offset against that amount for wear and tear (effectively you pay
tax then on just the £900 less your mortgage and less any other costs you can
offset). It is generally easier to rent out a property that has some furnishings, rather
than none at all.

Tax:
You can offset certain things such as mortgage payments, management fees,
insurance costs and repairs (but not structural changes that improve the property).

Repayment or Interest Only:
We always advise interest only, as later on, the chances are that you will remortgage
the property to purchase more later on, and the increase in equity is tax free cash
that you can use (although this does of course increase the size of the mortgage).

Listen to our advice:
We have lots of experience in the lettings market, and listening to our advice,
especially if you're a new landlord is well worth it. You get years of experience just by
listening in, and it helps our relationship grown over the next few years.

 

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Featured Property
Timberland, Bottesford
FOR SALE 3 Bedroom Detached House
 



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