Information For London Landlords and Terms Of Business

Please click on the relevant link below:

• General Information And Advice For Landlords Prior To Letting
• The Letting Service
• The Management Service

General Information And Advice For Landlords Prior To Letting

Leasehold Properties:  If your property leasehold it may be necessary to obtain the Freeholder´s permission to sub-let.

Leasehold And Freehold Properties:  If your property is subject to a mortgage, permission may be required from your mortgage provider to sub-let. We recommend that you obtain the necessary consents at an early stage rather than after a suitable Tenant has been found.

Insurance:  We recommend that both your property and contents are insured and that your policy covers lettings; many household policies do not, and will need to be amended.

Gas Appliances:  When you rent a property Gas Safety Regulations apply. All necessary checks & records can be arranged through The London Letting Company.

Soft Furnishings:  When you rent a furnished property the Furniture and Furnishings Regulations apply. The London Letting Company will advise you on all aspects of the regulations.

Tenancy Agreements:  Unless instructed to the contrary we will rent properties on annual Assured Shorthold Tenancy Agreements. Copies of our standard Agreements are available for inspection at our office. An Assured Shorthold Tenancy, if correctly prepared "assures" the Landlord of possession at the end of the term of the Agreement

Inventories:  Where a property is to be let furnished, it is important to have a detailed inventory of fixtures and fittings. The majority of disputes between Landlord and Tenant occur as a direct result of inaccurate or debatable information listed at the outset of the Tenancy. A charge may be made for the preparation of an Inventory, full details available upon request.

References:  We thoroughly check all prospective Tenants and obtain references, usually from work, bank and a previous Landlord, before completing a Tenancy.

The Letting Service

The London Letting Company specialise in the management of properties however do accept instructions to introduce a Tenant/s to a property without accepting ongoing management responsibilities.

When instructed on this basis The London Letting Company will comprehensively market the property and inform all suitable applicants already registered with them of its availability. They will make appointments for the property to be inspected and accompany all viewings where necessary.

Upon receiving an offer, The London Letting Company will negotiate terms and a mutually acceptable moving date. They will apply for references for approval prior to preparing an Assured Shorthold Tenancy Agreement. If instructed, they will arrange for an Inventory to be prepared & signed by the in-going Tenants.

As The London Letting Company has no dealings with the property after the commencement of the term, their fees will be deducted from the initial monies received from the Tenants upon the signing of the Agreement.

The Management Service

Where The London Letting Company are instructed to manage properties, there will not be a separate charge for the "Letting Service" and their fees can be deducted on a monthly basis, rather than as a one off fee in advance. The Management service includes all those services detailed above in addition to: -

Periodic inspections of the property to check on condition of fixtures and fittings

The receiving of rent from the Tenants. Financial statements are produced monthly and the net rent promptly paid to the Landlord.

The reporting of any defects or problems brought to their attention by the Tenants.

The arranging of any minor repairs and/or replacements up to previously agreed financial limits.

The payment of outgoings such as service contracts, insurances, ground rents, maintenance charges and other regular invoices on the Landlords behalf. (Payments can only be paid when sufficient funds are available and although they will query any obviously excessive charges, they cannot be held responsible for the adequacy of any insurance cover or validity of maintenance/service contracts)

As Managing Agents, The London Letting Company, will endeavour to ensure that all Landlords obligations are met and that the Tenancy runs as smoothly as possible.

Why Instruct An Agent To Manage Your Property ?

When a Tenancy is created, a legally binding contract is made. The Tenant has obligations under the terms of the Agreement and so does the Landlord. The Tenant has the right to expect that fixtures and fittings, domestic appliances, heating, water systems, drains and the structure of the building remain in good order. By appointing The London Letting Company as Managing Agent, Landlords can be assured that they will use their close contacts with local tradesmen, their Property Management experience and their detailed knowledge of Landlord and Tenant legislation to leave them with peace of mind, and a letting that proceeds as smoothly and trouble free as possible.