Call: 01282 602000
Broden Lloyd Lettings & Property Managenent

Landlords Guide

Becoming a landlord can be quite daunting, and there are certain rules that you must abide by.

First you will need to find out if you are entitled to let your property out, this may include having to speak with your current mortgage supplier and current building insurer.

The property must be fit to rent out, this includes the general appearance of the property, but it is also within your best interest to ensure that the exterior of the property is in good condition, ie; the roof and gutters. You must also have access to basic services such as, Heating, Electricity and Water.

Safety Certificates
In order to rent your property out in the UK you must have the relevant safety certificates in place, (we need to see sight of these before taking your property market).

We are fully up to date with all of the latest safety requirements and can talk you through these at the time of your initial property valuation.

Declaring your Investment
Letting a property out is classed as a second income and subsequently you will be taxed on this. For managed properties you will receive a monthly statement from us showing your income and outgoings along with any tradesmen invoices. These statements and invoices can be used to offset your tax against your income. For example, if you are employed in a job as well as earning a small income from being a landlord, then the rental income will be added to your overall income and tax deducted from the total via PAYE. We recommend that you Contact your local tax office or an independent financial advisor to find out more.

Secure a Deposit
For managed properties we will register your deposit with a government approved scheme, the Tenancy Deposit Scheme (TDS). We hold the deposit in our client account which is audited a minimum of twice a year and both yourself and your tenant will receive details of the registration of the deposit. The deposit will normally be returned at the end of the tenancy without any need for dispute, however if you did require this, then the scheme provides free mediation.

Landlord Fee's
We pride ourselves on having no hidden costs or annual increases. We also do not charge you for organising of repairs and safety certificates, this is all included within our monthly commission.

Client Money Protection
Broden Lloyd are Members of Property Mark Client Money Protection Scheme.

© Copyright 2024 Broden Lloyd Property Management