Thinking of becoming a landlord ?

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Thinking of becoming a landlord ?

Thinking of becoming a landlord ?

Here at Clearhaven Lettings there is little we don’t know about the whole rental process, from buying your first investment property to receiving the first months profitable rent, we have covered all aspects of the process, within the team here we are made up of letting specialists, estate agents and landlords, so we really do have hands on personal experience that we are able to pass on and assist experienced landlords and first time landlords alike.

We think it should be an exciting experience finding an investment property, ( we can even help with that! ) interviewing tenants, and creating your very own business whether it is a one off let or if you intend to start a portfolio of rental properties.

As a landlord there are many aspects of the letting process you need to know, as a letting agency it is our job to keep up to date with all the latest legislation and make sure all of our rental properties and landlords are confirming where they need to be, all of the team hold the Technical award level 3 in residential lettings and property management meaning we are able to seek further help and advice from industry awarding bodies and have their backing also.

If you would like to know more about what is involved in becoming a landlord please feel free to speak to one of the team, we can even help you with finding the right property to let, and assist in the negotiations to maximise your yield. Nest egg

Additional services that you may require

Energy Performance Certificate

It is now a legal requirement that a property marketed for sale or for rent has a valid E.P.C. and that this certificate or it’s energy rating is included with all marketing material. Even if you are a private landlord and list your property in the local paper or online you should include the E.P.C. rating. The full E.P.C. should also be made available to potential tenants. You can check if your property has an E.P.C. by checking online here.

Gas & Electrical Safety checks

If your rental property has Gas appliances such as a boiler, hob or fire you’ll need to ensure that you have an annual Gas Safety check undertaken by a registered contractor. We have several contractors that we work with in order to carry out these checks, our fees to arrange these services start from just £65.00.

Landlord Insurance

As a landlord you will require a landlord insurance product. The main difference with landlord insurance is that you are responsible for housing your tenants should the rental property become uninhabitable. Landlord insurance will also provide you with liabilty cover and some policies include cover for accidental damage.

We are introducers for Let Alliance, you can apply for a free, no obligation quotation using the link below.
Click here for an insurance quote

Rent Guarantees

We have access to a range of products including guarantees for tenants on benefits. All are available for either a 6 or 12 month term and have zero excess. They also include cover for legal expenses in the event that you tenant does not vacate the premises. Our rent guarantee warranties are subject to our own satisfactory tenant referencing.

Tenant referencing

All of our potential tenants undergo comprehensive referencing via Let Alliance. The three key areas where a tenant can fail referencing are:

1) Affordability, a tenant needs to earn at least 2.5 times their share of the rent.

2) Bad credit, if a tenant has a bad credit history, for example CCJ’s they will fail the referencing process.

3) A bad reference from a previous landlord or managing agent.

If a tenant requires a guarantor, the guarantor must earn at least 3 times the rent and have a clear credit history for the last 6 years. Unfortunately where a guarantor is required we are unable to offer either the tenant evict or rent guarantee products.

Tenant liability insurance

You may have read on our landlord services page that we also ensure that your prospective tenants are covered for accidental damage to your fixtures and fittings. This can help maintain their deposit at the end of the tenancy and ensures that you don’t have to claim on your landlord insurance. There is no excess for the tenant to pay and claims can be made between £100 & £2,500.