Services for Landlords

Thinking about renting your home? There are plenty of ways to make the most out of your property rental. Follow our step-by-step guide to renting out your space.

1. Doing your research

Take a look at the sorts of properties being let in your area and how much rent for. Be realistic as every property is unique in its own way. The more research you do, the better idea you will have about the sort of price you can achieve. Remember you have to pay tax on any earnings you make, so do your sums and check if it is the right option for you.

2. Finding a good agent

Lettings agents fees vary quite substantially whist the service in principle remains the same. A letting agent will charge you a finders/lettings fee (around 6.5% - 10% + vat) and a mangement fee of between (10% - 20% + vat) (Notice the variation between these two figures!). Whatever fee is agreed, it will be deducted from your rental payment either monthly on a management contract or upfront on a lettings’ only contract. You will also have to pay a ‘Check In/inventory’ fee, a fee to draw up the tenancy agreement, tenants reference fees and other maintenance fees (such as a Gas Safe certificate) so read the small print as it varies from agency to agency. Note Charles Sinclair does not charge you to draw up tenants’ agreements and for referencing your tenants.

3. Preparing your home

Think carefully about whether you want to let your property out furnished or unfurnished. A fully furnished property will attract more people but it does mean you are responsible for the items you provide.

Also it is advisable to have your boiler serviced (if you have not done so in the past 12 months) and to check that all your appliances are in good working order.

4. Tenant Referencing

Once an offer is accepted, the letting agent should carry out reference checks so they know your tenant (or a guarantor) can afford to pay the monthly rent each month. This process should take up to 72 hours and once completed means you can go ahead and set a move in date with the tenants.

5. Registering the deposit

For management services Charles Sinclair will carry this out for you however most agents will charge you to register a deposit on a lettings’ only services.

It is usually five weeks’ rent unless otherwise agreed between the parties and is registered with a number of government backed deposit schemes.

6. Signing the tenancy agreement and moving tenants in

You can have clauses added into the tenancy agreement, even obvious things might be worth pointing out (for example keeping a small property ventilated might be a good clause, especially if you have fitted extractor fans and you’re expecting tenants to use them). Once the agents have received all the monies and all the necessary paperwork is signed they can release keys to the tenants at the Check In day. It’s also worth pointing out the electricity meter/gas meter/how the boiler works, etc.

7. Putting funds aside

It’s worth having a slush fund to cover any repairs that will need to be done in the future – from boilers to washing machines breaking down, all sorts of things can go wrong in rented properties. Make sure you are easily contactable.

Whether you are letting a property for the first time or already work with an existing property portfolio, Charles Sinclair is able to provide a cost effective professional service with no hidden charges or small print. We take away the burden of managing daily issues associated with your property and tenants whilst also keeping on top of the ever-changing rental regulations which can be very challenging and costly.

For first time buy to let landlords we take the time to fully understand your goals, budgets and priorities so that we can offer expert buy-to-let advice; from finding the right location and property, through to how to boost your returns and realising your investment.

Charles Sinclair have been letting and managing residential properties in South West and South East London for over 50 years. An independently run business, we are proud of our knowledge of the area, expertise and reputation for providing a thorough service.

HMO Letting/flat sharing Services
Houses in Multiple Occupation

With a rise in the number of single professionals, the demand for HMO (Houses in Multiple Occupation) vacancies or "flat shares" is rising. That means that there's a huge opportunity for any landlord looking to rent their property out to multiple tenants. Charles Sinclair is here to help you take advantage of this opportunity, with a full range of services for HMO landlords. As part of our service, Charles Sinclair can provide you with a pre-application advice assisting you in converting your home into a licensed HMO, full management of your property and assist in obtaining all necessary licenses.

Overseas Landlords Services

We all know London is a hot spot for foreign investment and therefore getting it right from the start is our top priority. We can assist you in setting up a company and ensuring you are fully compliant with UK regulations and the HMRC's latest tax rulings for overseas landlords.

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