BENNETTS - Letting out your house

LETTING OUT YOUR HOUSE

The KEY to letting your house is to do it through Bennetts. We have been successfully helping landlords find tenants, and have prepared leases, for many years. We are more than pleased to factor the lets where the landlords want to leave everything to us.

THE TWO MAIN TYPES OF TENANCY
For private landlords there are two main types of tenancy which allows them the right to recover the property from the tenants.

The short assured tenancy which is for a minimum of 6 months and a maximum of 5 years. In practice, two months' notice is required to terminate the lease after the initial duration, provided special notice was given at the start. Some mortgage lenders insist on this type of lease.

The Ground 1 assured tenancy.? If you let out your former main residence, a minimum of one month's notice by either party is required.

THE NEED FOR CARE IN FINDING A TENANT
Landlords cannot just put their tenants out. A court order is required first and if, for example, the tenant is behind with the rent or causing a nuisance, eviction will not automatically be ordered. We make sure you have the right kind of lease. We have the experience to help you find the right kind of tenant.

PROMOTING YOUR PROPERTY
Your property will be advertised at low cost on a popular Scotland-wide website, in the local solicitors group web site, in the press, and in our office window, so that the choice of prospective tenants is maximised.

FURNISHED OR UNFURNISHED?
All properties should as a minimum have floor coverings, curtains, blinds, a cooker or hob/oven, and (if required) garden equipment and tools. Some unfurnished properties also have "white goods" - kitchen equipment.
Whether a property is furnished or unfurnished does not generally have much effect on the rent. Town centre flats are more popular furnished, while prospective tenants tend to prefer suburban houses to be unfurnished. If you can, keep your options open until we see what prospective tenants prefer.

LEGAL REQUIREMENTS
All let properties must have an Energy Performance Certificate. Landlords have to be registered with the local authority. If there is a gas supply, a landlord's safety certificate is required. A further licence is required for a House in Multiple Occupancy, if occupied by more than two unrelated persons.

FACTORED OR UNFACTORED?
Factoring is best if you
1. live at a distance from the property (particularly if you live abroad), unless you have someone nearby who can go round and deal with problems, for example provide duplicate keys when the tenants have locked themselves out, or to organise repairs.
2. lead a busy life
3. don't like paperwork or are bad at administration
4. don't have good people skills
On the other hand, doing without a factor can save on our fees.

Here are the services which Bennetts offer landlords

THE LEASE
Something which you would best leave to lawyers for the law and practice of leases is always changing
THE LEGAL PART

This work includes: drawing up the lease; arranging signature thereof, serving obligatory notices on the tenant, and the provision of a counterpart to the tenants.

FULL FACTORING
All you do is receive the rent!

THE CAREFREE PACKAGE

Full factoring

Full factoring is particularly recommended if you would prefer to delegate the work to an experienced letting agent or you are not at hand to deal with tenancy administration and day-to-day problems as they arise. It includes: taking instructions, preparing particulars, putting up a To Let sign (if required), advertising for a tenant, dealing with enquiries, arranging viewings, obtaining references etc, checking Inventory and Condition Report1 at the start and finish of the tenancy, preparing and maintaining a Tenant's Information Book (appreciated by tenants), arranging for the regular and prompt collection of rent, ensuring house and contents are adequately insured, arranging annual landlords gas safety inspection (where required), remitting surplus funds (normally by the 15th of the month) to clients or investing same (see below), instructing maintenance and routine repairs to buildings and contents (subject to pre-set limits instructed), keeping the Council Tax office informed of changes, paying appropriate local taxes, arranging non-residents tax exemption application, advising on other tax aspects, providing quarterly cash accounts and, if required, a statement of receipts and expenses for tax purposes.

We will be pleased to supply vouchers for expenditure for a specific period or item, or to discuss any expenditure occurred, on a specific request at any time.

BENNETTS DO NOT FACTOR HOLIDAY LETS.

TENANT FIND
We set up the tenancy. You factor the property.

The economy package

Taking instructions, preparing particulars, dealing with enquiries, arranging viewing, obtaining references etc. This service is only available on a sole agency basis.

INVESTING THE RENT

When we receive the rent we can of course remit what is left after expenses to you by regular standing order to your bank or otherwise. If you leave money with us, it earns 1% below bank+ base rate, less tax, and is instantly available. If, however, you want to maximise your return then we can arrange for the money to be invested at higher rates of interest or in other forms. Investment advice is free.

Please ask for details of our charges.
See also our separate leaflet "Buying to Let".