LANDLORD INFORMATION

Frequently Asked Questions

Are you a Landlord looking to let your property?

Browse through questions frequently asked by our Landlords

Why should I use a Letting Agent?

Choosing a property management package takes the stress out of letting your property. 

It creates a professional balance and distances yourself from your tenants. We also help you deal with rental arrears, property maintenance, rental contracts & deposit disputes. 

How much would it cost me to let my property?

The cost of letting your property professionally depends on which property management or landlord package you decided was best for you. Landlords all have different requirements and expectations. You can find out more about our landlord packages where we break down all of our property management services. 

Why do I need a property inventory?

An inventory is an important part of letting your property. The inventory details all aspects of the property including any fixtures and fittings within the property. It records the condition of the property before the tenant moves in. 

At the end of the tenancy, the inventory is checked to ensure the condition of the property and it’s contents are the same. 

Within our main property management packages, we included full inventory, including details of the condition and pictures for future reference. 

How long does it take to rent my property?

Many factors determine how long it will take to let your property. Firstly, when signing up to one of our landlord packages one of our agents will visit the property to access the property & take pictures for advertising. Once all of the information is collected, we will advertise your property on Rightmove, Zoopla, Our website and social media. 

Once a suitable tenant has been found for your property our team will process the application & references as soon as possible. Our team will also organise all standing orders.

We aim to have a property let within 28 days of sign-up but this can be dependant on many different variables. 

If you’re looking to guarantee rental payments you could look into our Guaranteed Income Scheme. This guarantees you rental payments whether your property is let or not! 

How do you guarantee rent for landlords?

When letting your property yourself there is never a guarantee that your tenants are going to pay their rent or pay it on time. At Guildhall Residential Lettings we offer a specialist Guaranteed Rent Scheme. 

The scheme means that you’re guaranteed a rental income every single month whether your property is occupied or not. Within our ultimate package, we take care of your property for an initial 12 month period, once the first 12 month period is up you can assess whether you have been happy with the service and sign a new contract. 

There are many benefits to our Guaranteed income scheme including: 

  • Guaranteed Start Date of Contract
  • We guarantee, any possible damage/breakages caused by the tenant, will be rectified by us, up to the value of one and a half months rent.
  • Guildhall will prepare a full and detailed inventory, with meter readings taken and all utility companies notified, we will also take a comprehensive set of colour photographs.
  • Guaranteed Payment Date
  • Guaranteed Rental amount ( less any repairs ) 

And much more!

I want to start renting my property, do I have to inform my mortgage lender?

I want to start renting my property, do I have to inform my mortgage lender?

You must notify your mortgage lender that you are going to be renting your property. It’s essential to gain permission from your lender, as this would be seen as a change of terms to your mortgage. If you did let your property without prior permissions from your bank, they could hand you significant charges if they found out. They could also “call in” your mortgage, meaning you would be required to make full payment for the mortgages outstanding balance. 

Who holds the tenant's deposits?

By law, if you’re letting a property you must register tenants’ deposits with an approved Tenancy Deposit Scheme. We use a deposit protection scheme to help protect the tenant’s deposits and settle any outstanding deposit disputes at the end of the tenancy.

Do I need an EPC Certificate for my property?

Yes. An EPC Certificate or an energy performance certificate is a report that details the energy efficiency of a property. The EPC ranges from A ( The most energy efficient ) to G ( The Least Energy Efficient ). If you are a landlord you must have a valid EPC certificate for your property. If you need help organising an EPC certificate for your property then contact us.

 

To let your property legally your EPC rating must be above an E Rating. 

Do I need to pay tax on my rental income?

If you let your property you will be required to pay tax on your profit after expenses whether you’re based in the UK or not.

Can a landlord enter the property during a tenancy?

A landlord can access the property if they provide 24 hours written notice and the tenant confirms they are happy for you to enter the property. 

What is a property inspection?

A property inspection is typically a visit by the landlord or letting agents that involves checking the property is being looked after correctly, the tenant has no issues with the property and that no damage has occurred during the tenancy. It’s good practice to undertake a property inspection every 6 months. Property inspections are included in our Elite & Ultimate landlord packages. 

How long does it take to rent my property?

If the tenant damages the property they will be required to pay for this either as a full payment or out of their deposit. If your tenant has been in the property for a considerable amount of time then it’s also important to consider general wear and tear. This includes the condition of carpets and the overall aesthetic of the property. 

What if I have bad tenants?

If you’re unhappy with the tenants in your property and wish to evict them, you must offer 2 months notice. We can help you with legal requirements and eviction notices in most of our property management packages. 

Houses and flats for rent in Preston

ULTIMATE

Guaranteed Income Scheme

Property Management Preston

ELITE

Fully Managed Service

Letting Agents in Preston

PREMIUM

Rent Collection Scheme

Prestons best Letting Agents

BASIC

Tenant Introduction Service

Application form to be completed by all adults moving into the property and emailed with supporting documents to info@guildhalllettings.co.uk

You will need to provide 3 months payslips, proof of any other income, and a copy of your passport.

Once we have received the forms back they will be reviewed, and providing we have everything we need to successfully process the application, you will be asked to put a holding deposit down equivalent to 1 weeks rent. This will secure the property for you for up to 28 days. Your tenancy must be in a position to begin by the end of the 28 day holding period.

The holding deposit is deducted from the balance due upon check in.

If you have any questions, please do not hesitate to contact the office.