If you are considering letting out your property in the NG2, NG11, NG12 postcode areas please call us to arrange for a free appraisal. Belvoir West Bridgford will visit and provide a comprehensive assessment of your needs, including your desired type of tenant, the best ways to market your property, your long-term aims and how to get the optimum rental income.
There are many potential reasons to consider letting:
- Excellent capital growth
- Regular monthly income
- As an important part of your pension planning
- To provide for family members financial needs in the future
There are a number of important questions, which need serious consideration before entering into any agreement:
- Will my mortgage provider allow me to let?
- How much tax will I pay on the rental income?
- Where can I get the best returns on my investment?
- What if I suddenly need my house back?
- What are my long-term goals?
Not all agencies are prepared to ask or answer these issues, which is one of the ways we set ourselves apart from the competition. We take great care to understand your needs, and if requested we can also provide access to some of the UK’s finest wealth management experts who can help us plan the best future for your investments.
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 your accountants and/or the Inland Revenue.
We collect a deposit from the tenant to safeguard against damage, which will be lodged in a government approved custodial scheme. We also create highly detailed inventories of your property; so that it can be proved exactly what condition it was in when the tenant took residence. At the end of the tenancy we will inspect the property and the costs of any work attributed to the tenant may be deducted from the deposit, following agreement by all parties. In the event of a dispute we will assist in the presentation of the evidence to end any dispute swiftly and fairly.
We use some of the most detailed referencing procedures in the industry, looking far beyond someone’s credit score as we understand that this can only provide part of the story. This helps us to ensure that you are getting the right tenant for you – saving you time and money in the future. We then present all that information to you for a final approval, ensuring that you remain in control.
Belvoir ensures that our tenancy agreements and other key documents are rigorously checked for compliance with any changes in legislation, meaning that you can rest assured that you have the maximum protection available. These can be tailored to your individual circumstances, and will run for a minimum of 6 months initially. After that point, subject to your wishes, the tenancy can either roll onto a month-to-month basis, or further fixed periods by agreement of all parties.
Rates and Services
The payment of water rates, council tax, gas, electricity and telephone bills are generally the responsibility of the tenants during their period of occupancy.
You are responsible for all repairs to the property with the exception of window glass or other breakage’s caused by the tenants. We can offer the services of trusted tradespeople for these repairs, or we can use ones nominated by you. Either way, we will arrange everything necessary after agreeing the works with you.
From the total rent received in a tax year you can normally deduct, for tax purposes, the following:
- Our charges and management fees.
- Fair wear and tear & repair costs.
- 10% of rent for depreciation, (if furnished or part furnished).
- Interest paid to the Mortgage provider.
- Insurance premiums related to the property.
You then pay tax on the remainder of the rent. If you would like a more comprehensive tax service we can arrange this for you.
We have a partnership with Let Alliance who can provide comprehensive & competitive rent and legal protection insurance, house building insurance and home contents insurance.