Landlords

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Landlords

As landlords themselves, Henry Rowe and Kevin Moll understand the investment buy-to-let market in their patch better than anyone. (picture of Kevin and Henry picture 63 from Drop box and photo attached above).

KevinHenry can offer the complete investment buy-to-let service. Buying a property to rent out as a long term investment is a growing trend and you need the right experience and advice when making this important decision. A buy-to-let property involves you in a lot more responsibility than buying your own home and we can help you through the maze that is the buy-to-let market. With changes in taxation and stamp duty, professional advice is even more important. Areas where we can assist you are:

  • Rental yield and capital growth
  • Finding the ideal property
  • Preparing the property for rent
  • Finding a tenant
  • Managing the property when tenant found
  • Advice on tax implications and capital gains

The Fastest Growing Lettings Business In Saffron Walden

The Lettings market has grown in importance and KevinHenry has created the perfect property lettings system to meet the challenge.

Kevin Moll and Henry Rowe have conducted extensive research and consulted with the UK’s leading letting agents to create a lettings service that they are more than happy to use themselves. Investment in the best management software and training for our experienced staff has made our lettings service the most thorough in the market.

Our staff undertake regular training and have to pass annual exams to ensure we keep the highest standards and that they are conversant with all the very latest legislation.

We are the only locally owned lettings service, with everything under one roof. There is a trend today for larger letting agents to separate their functions into different offices, with call-centres often popping up miles from Saffron Walden. Our landlords, quite rightly, expect the most attentive and comprehensive service at all times, so our properties are all managed in Saffron Walden, with payments, repairs and renewals all organised from the same office.

Our exciting new Cloud based Lettings Portal is an invaluable tool that helps landlords keep in touch with everything that is happening with their property, wherever they are. Click on the ‘Lettings Portal’ tab for more details.

We are the only agent who are genuinely open seven-days-a-week, to not only improve the chances of finding the right tenant but also to deal with issues or problems as soon as they arise.

As members of The Guild of Property Professionals, we have more coverage to find the perfect tenant for a property, with over 780 offices nationwide and premises in Park Lane, London.

Our extensive service also includes prompt payments to landlords’ accounts, independent inventories with photographs and regular inspections. The Deposit Protection Service holds all deposits and we offer Rent Guarantee Insurance. We are members of the Ombudsman for Estate Agency redress scheme and also members of ARLA, the national body for letting agents.

We can also help landlords increase the size of their property portfolio, as we understand what landlords are looking for and sell a lot of property to investment buyers. We can recommend financial advisors, accountants, solicitors and surveyors to help landlords and investors get the best possible advice.

We provide a thorough, professional service for our landlords’, with the sole aim of making being a landlord as trouble and stress-free as possible.

Our Letting Service

Open 7-days-a-week - always contactable, always looking for the right tenant
Locally owned - payments, marketing, problems – dealt with at the same postcode, not in different counties
No call centres – speaks for itself
Advice on preparing to rent your property and the best possible advice on all aspects of renting
Superior details and website presentation, with multiple images, floor plans and measurements and use of multi-property portals – best presentation and maximum coverage
SMS texting and e-mail alerts for the fastest possible marketing of your property, telephone notification of new instructions to ideal tenants, mobile website
Accompanied viewings 7-days-a-week - maximum exposure for your property
Relocation Agent Network and The Guild – referring new tenants’ from all over the country
Full management or let-only service
Preparation of Tenancy Agreements
Deposit Protection Service – government approved – they look after the deposit, not us
Prompt payment to landlords – your money will not be sitting in our account
Rent Guarantee Insurance available for peace of mind
Independent inventories professionally done, with photographs, making disputes fairer in their outcome
Regular inspections - ensures the property is being looked after properly
Excellent relationship with local trades for swift response to repairs – ideal for landlords’ and tenants’
Public Indemnity Insurance
Members of ARLA – the national body, which is the voice of lettings, with strict code of conduct
Ombudsman for Estate Agents redress scheme
Regular feedback and updates on legislation, changes etc.
Investment advice
Best agent in town for sales - so when you decide to sell your property...

The day a tenant moves into a property is very important for cementing a relationship between landlord and tenant. We call it a ‘moment of truth’. If the property is beautifully presented and sparkles, you will have a happy tenant who is more likely to look after the property and likely to be more relaxed if there are any problems. On the other hand, a poorly presented property, perhaps with a dirty cooker and things not working, is going to be very disappointing to the tenant, particularly as they feel they are paying a high rent and they are more likely to constantly complain about the property. This is an element of the Kevin Henry service that tenants really appreciate and we have been complimented. We go to great lengths to ensure that properties are in an excellent condition, advising all landlords to use professional cleaners, to set the standard for the duration of the tenancy. This, together with the complimentary Waitrose bag of essentials really helps get tenants in the right frame of mind.

Presentation tips

  • Soft neutral colours
  • Good quality, hardwearing carpets
  • If curtains are included, ensure that they are easily cleanable
  • Modern looking kitchen, with plenty of storage
  • A good working cooker
  • Fully equipped kitchen with all white goods is a good letting feature, but all the appliances must be maintained by the landlord.
  • Some form of shower is important in the bathroom, together with good ventilation. Just as in selling a property, a good clean bathroom is a good letting feature
  • If furnished, keep to a minimum, removing all personal items, kitchen utensils etc. All electrical items should be tested annually with a PAT test
  • All soft furnishings need to have appropriate fire retardancy certificate
  • Heating is very important and a good system with timer and thermostat is very important. Large heating bills over a cold winter are often cause enough for a tenant to hand their notice in
  • A well looked after, professionally cleaned and decorated property creates the right impression for letting and ensures that the tenant is more likely to look after the property
  • Outside – all outbuildings and garage should be kept clear, clean and free from rubbish. Some basic garden equipment should be available, such as lawn mower. Set the right standard by ensuring that gardens are well-tended, that flowerbeds are free from weeds, hedges trimmed and shrubs pruned. If you have a garden you are proud of, it is worth considering getting some help from a gardener as part of the tenancy agreement

Tenancy Agreements

If you are managing the property, you should read the tenancy agreement and adhere to its terms. Tenants have an obligation to look after the property and landlords must allow quiet enjoyment of the property but they must also ensure that the property is kept in good repair and that the services to the property are maintained in a safe condition (electrical installations, plumbing and heating, roofs and structure). Any visits to the property should follow 24 hours notice to the tenant.

Inventory and Schedule of Condition

We are one of the few agents who use an independent inventory company to carry out a fresh inventory and schedule of condition with every new tenancy. This is very important, as the inventory forms one of the most important items in a dispute.

Landlord Responsibilities:

Consent to let

All owners must appear on the agency Terms of Business and on the Tenancy Agreement. Where the property is leasehold, you should gain a consent from the managing agents. If the property has a mortgage, you should also get consent to let from the lender.

Insurance offering the appropriate cover

Tenants are advised to have contents and accidental damage insurance but cannot be forced to do so. So, again, it is very important that the landlord takes out appropriate insurance. We can help provide appropriate insurance.

Proof of Identification

The Money Laundering Act requires us to obtain proof of identification from all owners. We will need to see the documents, or certified copies from either your solicitor, accountant or doctor, for our records. This comprises either a current passport or photo driving licence and also proof of residency, which could be a utility bill, council tax bill but within the last three months.

Income Tax

From 6th April 1996 the rules regarding Non-Resident Landlords (NRL’s) changed. The NRL Scheme taxes the UK rental income of persons who live outside the UK.

Kevin Henry must deduct tax from the rental income after certain allowable expenses and pay the tax to HMRC and account for it on a quarterly basis.

Where there is no letting agent, tenants who pay more than £100 per week must also deduct tax and pay to HMRC. Those paying less than £100 per week do not have to pay tan unless advised by HMRC.

The withholding and payment of tax to HMRC could be avoided by a non-resident landlord, if he or she:

  • Commits to comply fully with the requirements of self-assessment
  • Has a good tax history -
    Returns submitted on time
    Tax payments made on time
  • Has no tax liability
  • Is regarded as ‘resident’ in the United Kingdom

An application for Gross Payment of Property Income must be made by the owner(s) of the property. Joint or multiple owners must both / all apply as individuals. This will be the NRL 1 form, or, for companies, the NRL 2 form. If approved by the scheme, each residential landlord will be issued an approval number and, once received by Kevin Henry, rents will be paid without the deduction of tax.

HMRC can withdraw approval if they are not satisfied that the NRL is complying with their tax obligations or fails to supply information required and, in this instance, will be withheld to pay to HMRC.

For further information, please refer to your tax advisor or accountant, or contact the HMRC CNR Helpline on 01514 726208, or visit www.hmrc.gov.uk

Gas Safety (Installation & Use) Regulations 1994 & 1996

All gas appliances, including central heating systems, cookers, heaters, fires, flues and pipe work (etc) must be serviced and safety checked on an annual basis and maintained by a Gas Safety Engineer. A copy of the gas safety certificate must be given to the tenant along with details of any remedial work required / carried out. Copies of all certificates must be retained for a minimum of two years.

Failure to comply is a criminal offence.

Changes to industry guidance relating to an existing gas central heating system where the flue system is concealed in a void and cannot be visually inspected (to make sure it is safe) will require provision of an inspection hatch(es) before 31st December 2012.

For further information: http//www.hse.gov.uk

Electrical Safety in Dwellings

Electrical Safety Regulations 1998. Any electrical equipment or appliance (including immersion heaters and cooker as well as kettles etc.) supplied must be safe and, to establish this, should be tested by a qualified electrician. Each item should be labelled and records supplied. Any risk that occurs through the supply of unsafe equipment incurs a penalty of £5,000 or a minimum of three months’ imprisonment.

Part P regulations require all wiring and electrical works be designed, installed, inspected and tested in accordance with the requirements of BS77671 and carried out by a ‘competent’ person – this means someone qualified, i.e. NECEIC registered.

A responsible landlord should get all wiring checked and receive appropriate certification.

For further information, please visit the Electrical Safety Council website at www.esc.org.uk

Smoke Detectors and Carbon Monoxide Detectors

New legislation came into force on the 1st October 2015 for Private Landlords in England regarding smoke and Carbon Monoxide (CO) alarms.: Landlords must fit a smoke alarm on every storey. Landlords must fit a Carbon Monoxide (CO) alarm in every room with a solid fuel burning appliance. Alarms must be tested and working on the start of each tenancy. Penalties of up to £5,000 for those that flaunt the rule. It is outlined that the relevant Local Authority will enforce.. The regulations do not stipulate the type of alarm to be installed. However, the Q & A booklet states: Landlords should make an informed decision and choose the best alarms for their properties and tenant. For further information, www.direct.gov.uk

Furnished Properties

Any furniture in a rented property (fully or part-furnished) must comply with the Furniture and Furnishing (Fire) (Safety) (Amendments) Regulations 1993. These regulations aim to improve safety by requiring all furniture and furnishings in rented properties to pass certain tests, including the ignitability test, the match test and the cigarette test. The regulations apply to all upholstered furniture and loose fittings, permanent and loose covers, including beds, headboards, mattresses, pillows, sofas, chairs, scatter cushions and bean bags. Each item should have a permanent label showing that it is fire resistant. If not, it should be removed from the property. Carpets and curtains are not covered by the regulations. Furniture manufactured before 1950 is exempt.

Failure to comply could lead to a £5,000 fine and / or six months imprisonment.

For more information, please refer to www.bis.gov.uk

Energy Performance Certificates

All landlords letting a property from 1st October 2008 are required to have an Energy Performance Certificate (EPC) unless the property is listed. An EPC will be valid for ten years and must be conducted by an accredited Domestic Energy Assessor

The Approved Code of Practice for the Control of Legionella Bacteria in Water Systems (L8)

Landlords are required to undertake a formal Risk Assessment for water systems within the premise to be let.

For further information, please go to:
http://www.hse.gov.uk/pubns/priced/hsg274part2.pdf

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