With so many legislation changes facing today’s landlords, it can be difficult to know if you are doing everything by the book when you take on a new tenant.
It seems that every week there is a new set of rules and regulations that you have to follow, and if you have been lucky enough to have a long term tenant in place, stepping back into the role of marketing your property and abiding by all the rules might seem a bit daunting.
With hefty fines, loss of powers over your own property and even the talk of prison sentences (should Right to Rent changes be passed through parliament as is being proposed in the 2016 Immigration Act), there is no room for error in the handling of a new tenancy, so it is important to decide whether or not you want to handle all of the associated paperwork yourself, or if it would be quicker, safer and less of a risk to appoint an agent to handle all of the technicalities for you.
Many landlords are choosing to turn to an agent to assist them with, and Urban.co.uk have a great package which helps handle all of the details that many landlords find themselves confused by.
Here’s why we think it’s a great option…
Referencing / Right to Rent checks
We recommend that all tenants undergo full referencing, in order to ensure that you have a full understanding of your potential tenant’s financial viability to pay the rent. We undertake very comprehensive referencing checks on tenants, providing landlords with some solid information which allows them to make a decision on whether or not to proceed with a tenant. The checks include a credit check, past employer checks, and a previous landlord check wherever possible.
If a tenant’s referencing comes back as requiring a guarantor, we work with the tenant to help them through this process, and also handle the guarantor’s credit checks to ensure that they are suitable.
The Right to Rent check, introduced on February 1st 2016, is one of the newest legislations which is causing some confusion amongst landlords in the UK. Only relevant in England, every new tenant in the country must undergo Right to Rent checks, to establish their eligibility to reside in the UK. Failure to carry out the checks is a breach of legislation, and can result in a £3,000 fine.
If Urban.co.uk have carried out referencing on a tenant, we are legally bound to also carry out the Right to Rent check, and we have a series of simple procedures which makes this complicated procedure simple, safe and completed secure for the landlord. The landlord, or one of the Urban.co.uk assessors, meets with prospective tenants and takes a photograph of a form of photographic ID. This is sent to the Right to Rent team here at Urban, where the documents are processed, and a certificate is produced declaring whether or not the individual has a right to reside in the UK. Urban.co.uk store the documentation for the require amount of time (12 months after the tenancy ends) in order to comply with the Right to Rent legislation.
Deposits / Prescribed information
Once your tenant has been thoroughly referenced, and you are happy that you want to proceed with them, you will want to arrange taking a deposit. The deposits team at Urban.co.uk are able to assist with this, and make sure that you are fully compliant with the deposit legislation.
We collect the deposit from the tenant on your behalf, and register it in one of the governments registered tenancy deposit schemes. We then issue your tenant, and any other relevant parties, with the scheme’s certificate within 30 days of the deposit being registered.
We will also issue prescribed information within 30 days. If this information isn’t issued, you will not be able to serve Section 21 on your tenant should you ever need to, so this is a vitally important point.
Your tenancy agreement is one of the most important documents that you can have in place, for both you and your tenant. The document protects the interests as both of you, and is the only legally binding piece document that lays out the rules and regulations of the tenancy.
Our tenancy agreement team will draft a bespoke tenancy agreement, including every element that you wish to be covered, making sure that both you and your tenant fully understand the document. Our team then sends this digitally to you and your tenants via Adobe Docusign, ensuring that it is signed by all relevant parties. This is completed before the tenancy starts, so you can hand over the keys to your property safe in the knowledge that your tenant has signed the tenancy agreement and you are all legally secure
The Tenant Finder Premium Package, priced at under £290, gives you all benefits of Urban.co.uk's flexible online service, but with the added support of Urban.co.uk’s years of experience in the complex private rental market.
Our user-friendly online system allows you to tailor your advert however you like, and completely control what people see and read in your property’s advert - you even get to meet and size up every potential tenant as you handle your own viewings, a real benefit to really get ‘the feel’ for someone. This system really puts you in the driving seat, and manage your property how YOU want it to be managed. Of course, if you'd like the Urban.co.uk team to handle your online account for you, they are happy to do this too, but the power is in your hands!
When things start getting more complicated, and the legal requirement – referencing, deposits, tenancy agreements – need looking after, you can hand everything back to the team at Urban.co.uk, and we can make sure that your entire account is handled for you, no different to the service you would receive from a High Street letting agent.
Contact us today for more information on the Tenant Finder Premium on 0800 689 9955, or email@example.com
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