Mortgaged Properties

If you have a mortgage on the property, you should notify your mortgage lender that you are thinking of letting the property. It is usually one of the conditions of your mortgage that you apply for permission to sub let, except if the mortgage is a buy-to-let which is designed for the purpose of letting.

Leasehold Properties

It is wise to check with the freeholder that there are no restrictions or covenant which prevent you from letting the property. There also may be conditions within your lease that the Tenants must adhere to during the Tenancy period. If this is the case, you should supply a copy of these lease terms to the Tenants.

Insurance

You should advise your property insurers that you are letting the property in case it is necessary to alter any terms. Tenants are responsible for insuring their own furnishings and belongings but a Landlord must ensure he has appropriate cover in place for the building and any contents, fixtures and fittings belonging to the Landlord.

Non UK Resident Landlords

If you are going to reside outside of the UK for more than six months a year, you must apply to H M Revenue & Customs for approval to receive rents with no tax deducted. HMRC will forward an approval notice to Accord. Otherwise, Accord is legally bound under the Taxes Management Act 1970 to deduct from the rent, income tax at the basic rate, before it is forwarded to the Landlord.

More information can be obtained from www.hmrc.gov.uk/cnr/nr_landlords.htm.

Keys

It is important to have several keys cut for the property, enough for one set per adult Tenant due to move into your property, plus a set for us to conduct viewings and if applicable, to manage the property after the tenants have taken occupation.

Legal Costs

Should there at any time be a need to take legal action against the Tenants for whatever reason, the Landlord is responsible for this action, plus any necessary costs incurred. For managed properties, assistance will be given regarding documentation and administration for the tenancy. Accord recommends that Landlords consider protecting themselves by taking out legal expenses insurance policy.

Transfer of Services/Utilities

If you have employed Accord as your Managing Agent:

The only service we are not able to transfer for you is the telephone, as BT or cable companies will only deal with the subscriber, not a third party. For all other services, please provide us with information on the existing utility suppliers of the property and location of the meters.

If Accord is not managing the property, you will need to arrange:

Gas and Electricity- inform them of the date of transfer to the new tenants, plus their names, the meter reading and your forwarding address so they can send you a closing account.

Water Rates – water rates become the tenants’ responsibility in most cases. Please inform the water supplier of your new tenants’ details and your forwarding address. If you water charges are on a meter then you will also need to supply the meter reading.

Council Tax – once again this is payable by the tenants during the tenancy. Please advise the local authority the date of the transfer to the new tenants and of your forwarding address in order that they can send you the closing account.

Telephone – It is best to arrange the transfer for the actual day that your tenants move in. If there is a break between subscribers, there can be a charge depending on the length of time the service has been disconnected.

Mail Redirection

Royal Mail offers a service to redirect your mail, which we recommend you arrange prior vacating the property. You should also inform your bank, employers, friends and family who are likely to write to you, of your new address.