- It helps pay the mortgage
- It gives you options for later
- It keeps you on the home ownership ladder
- It is a good way of building a pension
- It is a medium to long term investment
There are a number of important questions, which need serious consideration before entering into any agreement:
- How will tenants treat my house?
- What if I suddenly need my house back?
- Will my building society allow me to let?
- How much tax will I pay on the rental income?
However, these questions need not be a worry to you if you entrust the letting to a competent and caring manager. We treat your investment as if it was our own at BELVOIR! Colchester; our service is personal yet professional and we take great care to understand the needs of the Landlord and your tenants.
We will be pleased to call to advise you on the market rent for your property. Rents are payable by the tenant monthly to our client account. You will be paid direct from this account and we will prepare, at regular intervals, an income and expenditure account, which you can send to the Inland Revenue.
We collect a deposit from the tenant to safeguard against damage. At the end of the tenancy we will inspect the property and the costs of any work attributed to the tenant will be deducted from the deposit.
We will find a suitable tenant for your property and take up references and credit checks.
We will prepare a legal agreement under current legislation to suit your particular circumstances. In general this will be for a period of not less than 6 months and then renewable on either a 12 month term or a month to month basis. We will give you the option to chose what’s best for you and your tenants.
Rates and Services
The payment of water rates, council tax, gas, electricity and telephone bills are generally the responsibility of the tenants.
You are responsible for all repairs to the property with the exception of window glass or other breakage’s caused by the tenants. Our contractors can carry out small repairs, or ones nominated by you, and their charges deducted from your account. We will always ask for instructions before commencing any large-scale repairs. Also a very important factor to consider we DO NOT mark up any contractors invoices. All repairs are non profit making.
Please clarify what items you can offset your tax against with your accountant as this can be subject to legislative changes
We provide information and help on rent and legal protection insurance, house building insurance and home contents insurance, all of which are important considerations when letting your home.
We have particular expertise in the needs of Service Personnel who wish to let their property. A number of our branches are located in the vicinity of military bases