Residential Lettings

1.Tailor-made service

Nicholas Percival is perceived as being the “first choice” for reliable property advice in North Essex. We strive to set and sustain quality standards as well as securing optimum capital values and returns.

The approach of the practice, since its inception in 1986, is to offer a tailor-made service to its clients in all matters of residential and commercial property.

Nicholas Percival Residential Lettings operates from Colchester offering a comprehensive service to all its clients with a team of dedicated, qualified and experienced staff.

This useful step-by-step guide covers the basic and practical issues of letting residential property. Whether you have let a property before, or this is your first time, there is a lot to think about. We hope you find this guide of interest.

2.Type of Tenancy

What is an Assured Shorthold Tenancy?

If the rent on the property is less than £25,000 per year and the property is let to private individuals, the tenancy automatically becomes an Assured Shorthold Tenancy (AST). An AST is usually granted for a term of 6 or 12 months and if the Landlord and Tenant agree a tenancy will continue on a periodic basis unless a new term is agreed between the parties.

When a fixed-term tenancy expires, the Landlord is able to gain possession of the property provided two months written notice is served on the Tenant prior to the end of the tenancy.

One of the merits of an AST is that no security of tenure is afforded to the tenant beyond the agreed tenancy term.

3.Tenancy and Deposit Protection

Nicholas Percival always recommends payment of a dilapidations deposit at the commencement of the tenancy. The Law now requires all agents to belong to an authorised Tenancy Deposit Scheme which includes a mechanism to deal quickly and independently if a dispute arises on the return of the deposit between the Landlord and the Tenant.

From 6 April 2007, anyone holding a tenancy deposit must belong to an authorised scheme which protects the deposit during the tenancy and deals quickly and independently with any dispute over its return at the end of the tenancy. A Tenant must be informed within 14 days of handing over their deposit which of the authorised schemes the deposit is protected by and provide details of the scheme.

Landlords are required to apply for a licence from their local authority if the property to be managed falls under the government’s Houses in Multiple Occupation (HMO) licence provisions.

4.Health and Safety

What is the Housing Health and Safety Rating System (HHSRS)?

The HHSRS provides an analysis of how hazardous a property is through the assessment of 29 potential hazards in housing. Landlords have to maintain their property to provide a safe and healthy environment. The HHSRS is enforced by local authorities.

What are the health and safety requirements?

Before a property is let, a Landlord has a legal obligation to ensure that contents to include furniture, mechanical and electrical fittings comply with various safety regulations, notably, furniture and furnishings (Fire Safety) Regulations 1988.; Gas Safety (Installation and Use) Regulations 1998; Smoke Detectors Act 1991; and the Electrical Equipment (Safety) Regulations 1994.

Nicholas Percival advises on the legislation that applies to a particular letting.

5.Why Choose Nicholas Percival

Nicholas Percival is the first choice operating with professionally qualified and experienced staff and a sound knowledge of the market-place. The aim of Nicholas Percival is to provide a seamless service to provide optimum return either on a tenant introduction basis or full management.

Nicholas Percival is a member of the Royal Institution of Chartered Surveyors (RICS) which is a professional institution adhering to strict procedures. Nicholas Percival will advise on the level of rent, the length of tenancy, the amount of deposit and advise whether it is appropriate to conduct a letting on a furnished, unfurnished or partly furnished basis.

6.Marketing

Nicholas Percival undertakes a comprehensive marketing campaign to include the preparation of property letting particulars with colour photographs, Media and Internet advertising and To Let boards. Upon the introduction of a tenant, Nicholas Percival undertakes a thorough referencing procedure and provides Landlords with a Rent Guarantee Scheme if applicable and desired for a particular tenancy.

7.Tenancy Terms

When suitable tenants have been introduced by Nicholas Percival, we agree with the Landlord the terms and conditions of the tenancy. The obligations of the Landlord and tenant will be set out in the tenancy agreement, general responsibilities of the parties include:

Landlord’s responsibility

• Structural repairs, external and internal decorations and the maintenance of services
• Buildings insurance, ground rent and service charge
• Insurance of items, such as furniture and kitchen equipment
• Servicing of gas and heating systems

Tenant’s responsibility

• Pay the rent, deposit and outgoings and any other costs agreed as stated in the tenancy agreement
• Return the property at the end of the tenancy in accordance with the Inventory and Record of Condition, fair wear and tear accepted.

Landlord’s checklist

Contact:

Christopher Chambers BSc MRICS
Nicola Dann-Smith BSc (Hons)
Natalie Potts