LETTING YOUR PROPERTY?

OUR LETTING SERVICE

The team at Pymm & Co have had many years experience in letting properties. Whether you are a first time landlord looking for advice, or a seasoned landlord with a portfolio of properties, we at Pymm & Co can assist. We have both Property Managers and Letting Experts on site at our City Centre Office to help in letting your property, not in regional call centres like some of our competitors.

Letting your property has become a preferred option for many home owners whose financial or job situation dictates the necessity to move, and also for investment buyers who simply want an income or an alternative to a pension.

Whatever your letting needs, the professional team at Pymm & Co can advise and help you make the choice that suits you. We aim to provide you with an excellent service and give you peace of mind.

As your managing agent, we take our duty very seriously. We endeavour to select the right tenants for you, not just the first that comes along.

Pymm & Co uses an extremely thorough and strict external referencing company to provide comprehensive reports on your prospective tenant’s financial status, showing any previous credit, employment or tenancy issues. This provides us and our clients with as much certainty as possible on the background and sustainability of the tenant.

Landlords also have a number of responsibilities when letting a property. We can offer you guidance as well as the expertise of our contacts to ensure that you have your Energy Performance Certificate, Gas Safety Certificate, Electrical Safety Certificate, Legionnaires Risk Assessment and Landlord’s Insurance in place for your tenancy.

In April 2007 it became a legal requirement for all new tenancy deposits to be held in a goverment authorised scheme. Failure to do so could result in penalties for a landlord or loss of right to resign possession at the end of a tenancy. Pymm & Co is a member of a Deposit Protection Service (DPS) and The Tenancy Deposit Service (TDS).

Below is a summary of our services. As a landlord you can decide which service suits you best.

LET ONLY SERVICE

Marketing and advertising of the property in-house and via property portals

Accompanied viewings

Tenant selection and full referencing

Preperation of tenancy agreements / legal paperwork

Initial right to ‘right to rent’ check

Registration of tenant’s deposit

Inventory report via an independent inventory company

Arrangement of annual gas safety testing

Arrangement of EICR (electrical Safety Certificate)

Arrangement of Legionnaires Risk Assessment

RENT COLLECTION SERVICE

Marketing and advertising of the property in-house and via property portals

Accompanied viewings

Tenant selection and full referencing

Preperation of tenancy agreements / legal paperwork

Initial right to ‘right to rent’ check

Registration of tenant’s deposit

Collection of monthly rent and chasing rent arrears

Monthly statements of account

Inventory report via an independent inventory company

Arrangement of annual gas safety testing

Arrangement of EICR (electrical Safety Certificate)

Arrangement of Legionnaires Risk Assessment

FULL MANAGEMENT SERVICE

Marketing and advertising of the property in-house and via property portals

Accompanied viewings

Tenant selection and full referencing

Preperation of tenancy agreements / legal paperwork

Initial right to ‘right to rent’ check

Registration of tenant’s deposit

Collection of monthly rent and chasing rent arrears

Monthly statements of account

Regular property inspections

Arrangement of maintenance and routine repairs

Preparing and sending appropriate legal notices

Inventory report via an independent inventory company

Arrangement of annual gas safety testing

Arrangement of EICR (electrical Safety Certificate)

Arrangement of Legionnaires Risk Assessment

LETTING COSTS

You will need to take into account and consider the following when letting your property:

• Energy Performance Certificate
• Gas Safety Certificate
• EICR (Electrical Safety Certificate)
• Professional cleaning

LETTINGS CHECK LIST

Prior to letting your property, Pymm & Co requires the following:

• A completed ‘Terms of Business’ form
• 1 set of keys initially (a further two sets are required before the property is tenanted)
• Property must be presented to a good general standard but with a high standard of cleanliness (e.g. oven, appliances, carpets etc)
• Your bank details, forwarding address, contact number
• Gas Safety Certificate
• Energy Performance Certificate
• Legionella Risk Assessment
• Smoke detectors on each floor
• EICR (Electrical Safety Certificate)
• CO2 detector (in any room that burns solid fuel)
• Tenancy agreement
• Inventory (optional, but strongly recommended)
• Confirmation of utility companies (not essential, but helpful)

LEGAL REQUIREMENTS

• INSURANCE - Please ensure that you have Landlords Insurance for the property, which should include personal liability cover as standard. Please ensure that the insurance company has the correct details otherwise your policy may be void.
• LEASHOLD PROPERTIES - There may be a clause in your title deeds advising that either your property cannot be let or that you need to seek permission of the Freeholder before letting. We advise you check this in advance via your title deeds or managing agent.
• MORTGAGE - You must obtain consent from the mortgage provider for the letting.
• ENERGY PERFORMANCE CERTIFICATES - From 1st October 2008, an energy performance certificate must be available for a tenant to view any property advertised. The effeciency rating must be advertised along with the property. From April 2018 a minimum effeciency standard was introduced for new tenancies in 2020. Properties must meet a minimum energy standard rating of E.
• LEGIONELLA RISK ASSESSMENTS - It is a legal duty for landlords who provide residential accommodation to consider, assess and control the risks of exposure to Legionella to their tenants is not new. This requirement stems from the Control of Substances Hazardous to Health Regulations makes provision for the legislation to apply to landlords of both business and domestic premises. All water systems require an assessment of the risk which they can carry out themselves if they are competent, or employ somebody who is.
• ELECTRICAL CERTIFICATION - As of 1st July 2020 it is mandatory to carry out an EICR Electrical Certificate on properties prior to occupation. All rented properties with existing tenancies are required to have an EICR Electrical Certificate issued by the 1st April 2021. Certificates are valid for 5 years. HMO (House of Multiple Occupation) have additional requirements.

LISTING

We always view your property as if we were selling it. Tenants want as much information as possible and therefore the more information that is available, the more likely a prospective tenant is to view it. Most agents letting details only show a few pictures and a brief description. We endevaour to be different, we will always measure the property and list the full details, as well as taking numerous good quality photos with the latest equipment.

We will always measure the property and list the full details, as well as taking numerous good quality photos with the latest equipment.

This information is not only available in our City Centre Office, but also on our website.

FEES

There is no fee payable to Pymm & Co until we successfully find a tenant for you. Pymm & Co’s fees vary depending on the level of service you require. Please speak to one of our experienced valuers to discuss the appropriate level of service for you.

PROFESSIONAL MEMBERSHIPS / CLIENT MONEY PROTECTION

Pymm & Co Letting Agents in Norwich are members ofARLA Propertymark which is the UK’s foremost professional and regulatory body for letting agents; representing over 9,000 members. Members operate to professional standards far higher than the law demands and we campaign for greater regulations for agents in this growing and increasingly important sector of the property market.

By using an ARLA Propertymark Protected agent, consumers have the peace of mind their agent will provide a professional service and their money is safeguarded by Propertymark’s Client Money Protection scheme.

TAX

All landlords should be aware that HMRC generally classes rent received as a taxable income and this needs to be declared. The amount payable is dependent on whether you reside in the UK or overseas. Many items can be offest against the income such as: insurance, ground rent, repairs and maintenance, legal and accountancy charges, letting agent fees and a proportion of loan interest. You may need the help of an accountant for more detailed advice, but Pymm & Co can help guide you in the right direction and provide a general overview.

HMRC also provides further information online at: www.hmrc.gov.uk

For overseas landlords, living abroad for more than six months of the year you will need to complete an NRL 1 form for Non-Residential Landlords. Please speak to a member of the team for more information.