Choosing Your Agent
If you choose to use Anderson’s you know that you are dealing with a specialist letting agent and not an estate agent who ‘does lettings’. It is good practice to meet with two or three letting agents to make your decision on who to use. Many landlords are surprised to hear that the lettings industry is not regulated and agents who are licensed or regulated do so voluntarily. If you choose to speak to an ARLA licensed and regulated letting agent you can be sure their professionalism, training, accounting compliance and client money protection meets the high standards set by ARLA.
Prospective landlords who book an appraisal are advised by the company’s director, Chris Anderson on all aspects of letting in Leicestershire. Chris will share his nearly 30 years of letting knowledge in Leicester. Chris will advise on all aspects of letting from preparing your property to explaining the Letting Only and Management Services Anderson’s offer.
Preparing Your Property For Letting:
Furnished or Unfurnished ?
Over 95% of the properties let by Anderson’s since 2015 are unfurnished. The demand from professional tenants for unfurnished houses and flats currently far outweighs the demand for furnished. The average length of tenancy for unfurnished is far longer than furnished too.
Preparing Your Property For Letting
Landlords are required to ensure their properties are ready for letting. Most properties require the following:
If you are looking to let a leasehold property your head lease will most likely require that you obtain permission from the head lessor or their agent to sub-let the property.
Any outstanding lender should be informed in writing that you intend to let out your property. Any required permissions should be sought.
Buildings and Contents Insurance – Letting your property could invalidate any buildings or contents cover you currently have in place. It is essential that your property is adequately insured and that your insurers are aware that the premises are let. Many insurance companies offer ‘Landlord Insurance’. You should ensure your cover includes any avoid periods of up to 90 days and your liability for personal injury to tenants and their visitors. You must inform your insurers whenever the premises are vacant for a period greater than specified in your insurance policy. Tenants are responsible for their own contents insurance cover.
You will be liable for tax on rental income and you must inform the Inland Revenue that
you are letting the premises. There are allowances that you can claim against this rental income. You should seek advice from your accountant on the allowances you can claim against rental income. Or contact HMRC directly at www.hmrc.gov.uk. Anderson’s management service includes monthly statements and receipts. Letting agents are requested by HMRC to forward landlord details to them Anderson’s comply with these requests
Taxation for Overseas Landlords
HMRC operate a Non Resident Landlord scheme for landlords who will reside overseas and have their rent paid in the UK. Anderson’s acts for many clients in countries all over the world. We advise all landlords who live or work overseas for large periods of each tax year to speak to their accountant about applying to be part of the Non Resident Landlord scheme operated by HMRC. If you are a non resident landlord and not part of the scheme Anderson’s are required to deduct the basic rate of tax at source and pay it to HMRC. This means a landlord will need to apply for reimbursement of any tax overpayment. Non Resident landlords who are part of the scheme receive their rent without tax deducted at source, but pay any tax due directly at a later date. Use the www.hmrc.go.uk to apply using the NRL1 form. Anderson’s HMRC registration number is NA 024706
Buy to Let
Anderson’s are perfectly placed to give our landlord clients impartial advice on buy to let investments. What type of property to purchase, leasehold or freehold, popular locations, tenant demographic are all questions that need consideration before investing in a buy to let. Many landlords refer specific properties to Chris Anderson for a confidential appraisal of the estimated rental income and demand. This appraisal is best done before any agreement is made to purchase. Often an estate agent or developer’s estimate of rental income is unsubstantiated and not impartial.
To book your market appraisal or buy to let consultation with Chris Anderson please contact us on 0116 2511 411 or email firstname.lastname@example.org
Anderson’s will take a selection of photos of the external and internal areas of your property and choose the best selection of photos to show your property to prospective tenants. Our marketing strategy includes the use social media and popular property portals including Rightmove and Onthemarket.com
All our properties are displayed in our city centre showroom and offices on Charles Street.