Once your tenant has moved in our Full Tenancy Management Service comes into it’s own, ensuring your property and your duties as a landlord are taken care of throughout the tenancy and beyond.
The Rent Collection Service forms part of our Full Tenancy Management package for landlords. Rent is collected monthly, unless specified otherwise in the Tenancy Agreement. The service includes monitoring late payments and notifying landlords promptly of any arrears. For protection against rent loss, landlords are advised to consider Rent Protection & Legal Expenses Cover. Rent payments are made to landlords monthly via same-day bank transfer (after fees, disbursements, and taxes). Monthly statements and payment advice notes are automatically provided.
As a landlord, you’re responsible for calculating the tax on rental income you receive. While rental income is taxable, you can offset certain expenses against the rental profit. Additionally, if managing your property counts as a business, you’ll need to pay Class 2 National Insurance. It’s recommended to seek advice from an accountant for detailed tax matters.
Under the Non-resident Landlord (NRL) Scheme, your letting agent must deduct tax from your rental income and pay it to HMRC. If you don’t use an agent, your tenant will be responsible for collecting and paying the tax to HMRC. Alternatively, non-resident landlords can apply for approval to receive rental income without tax being deducted. Full details are available from HMRC.
Our Full Tenancy Management Service handles the day-to-day management of your rental property, saving you time and effort. It includes regular 6 monthly inspections- at a time agreed with the tenant. Inspections cover wear and tear assessments, as well as maintenance and compliance checks. If issues are found, you’ll be informed, and repairs can be arranged through trusted contractors. Costs can be paid out of the rent collected. After each inspection, you’ll receive a written report via email.
We will manage all tenancy renewals, including rental reviews. If you choose to raise the rent, we’ll issue the required notice to tenants. If you want to end a tenancy, we will serve the necessary notice, following legal processes and timelines, and handle all related end-of-tenancy tasks.
At the end of a tenancy, the landlord should ensure the property is clean and in good condition, collect the keys, and formally take possession. If there are no issues, paperwork is complete, utilities are notified, and the tenant’s forwarding address is provided, the deposit should be returned. These tasks are included as part of our Full Tenancy Management Service.
No landlord wants a vacant property. If a tenancy is not renewed, we offer landlords who take our Full Tenancy Management Service an automatic property appraisal, rental valuation and remarketing service until we find a new tenant.
