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Landlords Advice - FAQ
what happens when I move out?
It couldn't be easier. Lanes will take the headache out of moving. From this moment we will take responsibility, arranging for the meters to be read to make certain you don't pay for any services you are not using. It will be your responsibility as landlord to inform the telephone company of intended moving date and forward you post. A detailed inventory and schedule of the condition of your property will be prepared supported by interior photographs, to protect you against any possible future disagreements.
And, should it be necessary to have your property professionally cleaned, Lanes can help advise of the best services available locally and arrange the details.
how thoroughly is my tenant's suitability checked? For financial peace of mind, once a tenant has been identified, the vetting process begins. Lanes will carry out a thorough tenant referencing and credit check, and bank references will be obtained where necessary. You can be re-assured in the knowledge that no prospective tenant will be able to sign a tenancy agreement prior to all references checking out. For extra peace of mind you can also choose a rent guarantee policy to cover the event of non-payment of rent.
what happens when the tenant moves in?
Meter readings are sent, the inventory and schedule of condition is signed by the incoming tenants, and a deposit of up to six week's rent is taken. This will be held by Lanes as insurance against non-payment or loss or damaged to the property & registered with the Tenant Deposit Scheme (TDS).
who will be responsible for the bills?
Obviously as landlord you will have to ensure that your property is covered by a good insurance policy. Apart from that, you won't have to worry about a thing! The tenant will be responsible for the telephone, all utility bills and rates. When will my rent be paid? Payment will be made by standing order to Lanes on the day of the month the Tenat moves in and thereafter by standing order at the same time every month. Funds will be forwarded to you within 14 days of receipt, and you will receive clear monthly statements illustrating how much and when monies have been paid. What's more, you can request a statement from Lanes at any time, which will be sent to you at the touch of a button.
who will look after and maintain my property?
To be certain that your property is being properly cared for, we will regularly inspect your property throughout the tenancy period. Should emergency maintenance work be required, such as plumbing, windows or flood damage, Lanes will arrange for the work to be completed quickly and cost-effectively. Where possible we will seek your consent and submit estimates for your approval & many of our landlords agree to a maximum float – usually £100 – that we may use with our discretion to ensure a quick fix to a maintenance problem. You can also discuss your individual requirements directly with our Maintenance division, Grayster Maintenance and for any landlords not registered with Lanes they offer an unrivalled service and price and you can contact them directly via email
how do I get my property back?
The initial tenancy agreement may be for six or twelve months, or longer. Once this period has lapsed, two month's notice for tenants to quit must be given in writing to the letting agent. Once vacant, Lanes will inspect your property, and use any security deposit required to ensure that possession is return to you in the same condition as when the tenancy commenced, subject to the terms of the Tenant Deposit Scheme (TDS).
can the rent be guaranteed?
Yes it can! Lanes recommends that landlords take out a specialised insurance policy that protects against unexpected rent voids. For example, your tenant may become ill, lose his job or be made redundant. Additionally, the policy will cover you for any legal expenses incurred should you need to regain possession of your property at any time and any incurred ‘void’ periods, subject to terms & conditons!
will renting my property mean increased income tax?
Possibly, although many expenses incurred letting your property can be off-set against your income tax. It needn't be complicated. Lanes will be able to recommend a well-known firm of accountants who have particular experience offering advice to owners who let their properties temporarily or permanently. They will also be able to deal with the Inland Revenue, or offer help completing tax returns etc.
