If you have a mortgage secured to your property you must inform your lender of your intention to let the property. The terms of your mortgage deed will undoubtedly preclude any letting without their consent.
Taxation
New legislation in April 1996 was introduced to tax property income for non-residents at source. To comply, we will be obliged to withhold any pay to the Inland Revenue, an amount of income tax at the current percentage. However, should the landlord request from the Inland Revenue to collect direct then we would require confirmation in writing from the revenue. We are not required to collect tax from UK residents.
Rental
We will agree with you a rent to be quoted to potential tenants. Unless specifically agreed otherwise, this will include all payments for, which you are responsible; such as: ground rents etc. Please note that service charges will be the responsibility of the tenant.
Advertising
Our fees shall include any expenses that we may decide to incur in photographing and/or advertising the property.
Rent Remittances
Once we receive rent, five working days will be needed to allow payment to clear, after, which the balances (less any deductions) will be forwarded to your bank account. (The first month will not be applicable - see Terms of Management).
Prior To Letting
It is very important that prior to letting you ensure that your property is in a good condition for letting. In particular it must be thoroughly cleaned and in good repair with all domestic appliances in full working order. The agent will not be responsible for start inspection.
