What a great time to start letting your property!
There’s always a huge demand in east London and the lettings team at Estates East are all over it.
Whether you’re an experienced investor or letting a property for the first time, talking to Estates East is the first step to running your business practically and profitably.
Wondering where to start?
Start here
Book a Lettings Appraisal with Estates East, a no-holds-barred how-to. It’s not only obligation-free, it’s free-free.
Call 020 8520 9300
Let’s chat, call 020 8520 9300
1. To furnish?
Or not to furnish?
2. What’s your budget for making your property look ten out of ten, to tenants?
3. Independent Inventory / Schedule of Condition
4. Happy tenants make happy landlords
5. Be upfront with your mortgage lender
6. Rental payments and deposit
7. Council Tax and utility bills
8. Buying to let
Questions? Let’s chat, call 020 8520 9300
"Excellent advice and service - have used Estates East for both sales and lettings. The team are all great - very professional, really quick and responsive in dealing with requests or issues. Great knowledge of the local area and really customer centred."
Alison Barnes
The lettings team at Estates East will treat your property like it’s their own
And we’re as picky about your tenants as you are!
The benefit of having a dedicated Marketing Team is that Estates East does much more than just list your property. Details are updated daily and we market you until the right tenants have been secured as quickly as possible.
We keep our landlords one step ahead of the market, always
It’s one of the reasons we’re able to describe our service to landlords as a long term relationship. Landlords stay with us for years, because it works for them and their business.
We literally have tenants on a list, waiting for you
We make it our business to have strong connections to local companies, making sure Estates East are top-of-mind around here when staff are moving and lettings are needed, and we’ve established these relationships over years.
Estates East reduces risk to you
We insist on comprehensive tenancy agreements, detailed inventory & condition schedule prior to each tenancy.
In your free Lettings Appraisal we can discuss whether you want to secure an initial term of 6 or 12 months, and we’ll talk you through the Assured Shorthold Tenancy.
Estates East knows how to optimise your investment and very shortly you will too
With Estates East in your corner, you’re keeping your property up to speed with the law, and you’re kept aware of any good initiatives coming into the sector.
Shall we chat?
Call 020 8520 9300
Estates East offers 2 main levels of service, the Full Management Service and the Basic — hit Property Management for a breakdown. There's also the Let Only option, where we find you suitable tenants but nothing more.
One service that’s always available to you, is the option to call us and chat through whatever you need help with.
Call 020 8520 9300
Let’s chat, call 020 8520 9300
Additional services
As a landlord, you need to know your legislation, or at least have a professional agent, who knows it for you.
Let’s chat, call 020 8520 9300
Landlord’s obligations
These are determined in Section 11 of the Landlord and Tenant Act 1985. You will be responsible for maintaining the structure and exterior of your property, heating and plumbing installations and dealing with other routine repairs.
Leasehold properties
If your property is leasehold, your lease will specify whether or not it is necessary to obtain permission to sublet from the freehold company or managing agent. It is essential to clarify the situation before marketing your property as some leases place restrictions on the type of sub-letting that will be approved. If your property is leasehold, you will be responsible for paying the service charge and ground rent.
Buildings and contents insurance
All landlords should ensure that they have adequate buildings and contents insurance cover. Tenants are responsible for insuring their own contents and personal belongings.
Please note: standard homeowner insurance policies will not suffice once a tenant is in residence as you are no longer the owner-occupier. It is also important to check on cover periods when the property is empty. We recommend that you check your policy thoroughly. We can supply you with names of specialist insurers if required.
Tenant’s obligations
The tenant has a duty to take proper care of your property and use it in a responsible way, pay the rent and keep to the terms of the tenancy agreement. If the tenants cause damage to the property, they are responsible for the cost of repair providing it is not deemed to be fair wear and tear.
Local authority private landlord licensing schemes
Every privately rented home in Waltham Forest must apply for a private rented
property licence (PRPL), unless an exemption applies. And if you’re the owner
of multiple rented properties in the borough, you must complete an application
for each property.
Licence fees covering the application for a PRPL vary across different councils, and are issued for a maximum of five years. This fee is non- refundable for submitted applications - or if you sell or stop letting your property.
Talk to us and we’ll always give you the latest and accurate costs.
Legislation: what you need to know
Statutory Obligations under the Landlord and Tenant Act 1985. The landlord has a statutory responsibility under Sections 11 to 16 of the Landlord and Tenant Act 1985 which state that landlords must:
If the landlord does not comply with the statutory obligations, the tenant may ask the local authority to issue the landlord with a Notice requiring the work to be done. The tenant also has the right to arrange for the work to be done and withhold rent equivalent to the amount spent.
Gas Safety (Installation and Use) Regulations 1998
Under the Gas Safety (Installation and Use) Regulations 1998, it is a criminal offence to let premises with gas installations pipe-work and appliances that have not been checked by a Gas Safe registered engineer. The landlord should ensure that all gas appliances are serviced and maintained at least once a year and keep a record of such maintenance, which must be undertaken by a Gas Safe registered engineer in order to comply with the regulations. By law a gas safety check must be carried out once a year and a copy given to the tenant prior to the commencement of the tenancy.
The Furniture and Furnishings (Fire Safety) Regulations 1993
It is a criminal offence, punishable by a fine and/or a prison term, to let premises with upholstered furniture which cannot be proven to comply with the safety regulations. The landlord must ensure that all furniture, soft furnishings, padded beds and headboards, mattresses, pillows and cushions supplied to the property comply with the provisions of the Furniture and Furnishing (Fire) (Safety) Regulations 1993. If labels are not on the relevant items or satisfactory documented proof of compliance is not received prior to the commencement of the tenancy, we reserve the right to remove and dispose of non-compliant items at the cost of the landlord.
Electrical Equipment (Safety) Regulations 1994
The landlord warrants that the electrical installation and appliances in the Property are in safe working order and where appropriate comply with the Electrical Equipment (Safety) Regulations 1994 and the Plugs and Sockets (Safety) Regulations 1994. The regulations also state that instruction books for all items of electrical equipment must be left at the Property, otherwise the item will not be deemed safe and must be removed. The landlord is responsible for ensuring that all electrical appliances within the Property comply with the above regulations and are tested to ensure compliance. It is best practice to ensure an electrical safety check is carried out annually.
Part P Building Regulations (Electrical Safety in Dwellings) 2005
These state that any person having certain types of hard wiring work, known as “notifiable works”, carried out at a property must use a contractor who is part of an approved scheme. Any other person carrying out such work must obtain consent from the building inspector prior to starting the job and have the finished work inspected and approved by the inspector. All electrical contractors carrying out work instructed by the agent on behalf of the landlord while the agent is managing the property will be members of an approved scheme. The agent can only use the landlord’s preferred contractor if proof is provided that the contractor is a member of an approved scheme, has current public liability insurance and is easily available.
Smoke Detectors Act 1991
Although it is deemed best practice, there is no legal requirement to install smoke alarms in a property unless it was newly built from 1992 onwards or it is a house in multiple occupation when the alarms must be wired into the mains electricity system (HOM), with a battery backup. If the landlord has installed any type of smoke alarms, fire extinguisher, or fire blankets in the property they must be regularly checked to ensure they are in working order. In particular the landlord must ensure they are tested prior to the start of a tenancy and be noted as in working order. Failure to do so could mean liability for any injury suffered by a tenant or other visitor to the property. By signing this agreement the landlord gives the agent authority to replace any item that the agent believes is not in working order at the landlord’s expense.
The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007
An Energy Performance Certificate (known as an EPC) details the energy and efficiency rating of a property and gives landlords and prospective tenants information on how much the average cost is to heat and light the property for a year. An EPC is valid for ten years. Please note that EPCs must be arranged and the certificate given to tenants prior to any new tenancy agreement being signed and as soon as possible after our instructions to market the property. There is currently no legal requirement for EPCs to be given to tenants of properties whose agreements (fixed term or periodic) commenced prior to October 2008. Estates East can arrange an EPC on your behalf at a cost to you of £75 plus vat.
Sections 47 and 48 of the Landlord and Tenant Act 1987
In accordance with Section 47 of the Landlord and Tenant Act 1987 any rent demand, which includes the tenancy agreement, must state the landlord’s actual address. Should the actual address of the landlord not be shown, the rent is not lawfully due from the tenant. In accordance with Section 48 of the Landlord and Tenant Act 1987, the landlord must provide an address in England and Wales where Notice of issue of proceedings may be served upon them by the tenant. Please note that the rent is not legally due to the landlord unless this requirement of the Act is satisfied.
Discrimination
We will not discriminate against any person under the definitions of the Sex Discrimination Act 1975, the Race Relations Act 1976, the Disability Discrimination Act 2005 or the Equality Act 2006. We will not discriminate, or threaten to discriminate Against any prospective tenant of the landlord’s property because that person is, will not be, or is unlikely to be accepting services that the agent will (directly or indirectly) provide.
Data Protection Act 1998
We take all reasonable care to prevent any unauthorized access to or use of your personal data. We have a responsibility to keep your information confidential and will only use it:
Deregulation Act 2015
If the deposit was received before 6 April 2016 and is held against a statutory periodic tenancy, which also began before 6 April 2007:
Let’s chat, call 020 8520 9300
Accounts
Estates East will ensure that rent is paid on the due date and passed on to you as quickly as possible. They prepare statements of rental income and expenditure every month to ensure that you have full information for yourself and for your tax return. The tenant pays rent into the Estates East client account and this is then transferred into your account each month.
Inspections
We carry out routine visits to the property during the term of the tenancy on our fully managed properties.
Extending or terminating the tenancy
Many tenants extend their tenancy and in some cases for several years. If no notice is served on the tenant, the tenancy automatically continues on a statutory periodic basis. The landlord can terminate the tenancy at the end of the initial tenancy period or at any time thereafter by giving the tenant a minimum of two months notice on the rental due date. The tenant can either leave on the last day of the initial tenancy period, or can give one month’s notice at any time thereafter.
Safety regulations
The following information is intended only as a guide for landlords and should in no way constitute a detailed interpretation of the complete Regulations. Whilst the regulations might appear onerous, they are designed to ensure the safety of the property and tenants. Landlords should note that the maximum penalty for non-compliance with these regulations is a fine of £5,000 or 6 months imprisonment.
Smoke detectors
All new homes (built after June 1992) must be fitted with mains operated smoke detectors. There are no specific regulations governing older buildings. However Estates East strongly recommend that at least one smoke alarm is fitted to each floor of your property.
Energy Performance Certificates
Energy Performance Certificates (EPC) have been introduced to help improve the energy efficiency of buildings. Landlords need to provide an EPC with an E+ rating, which will be valid for ten years, to prospective tenants, the first time they let or re-let a property.
Taxation of rental income
Overseas landlords are responsible for obtaining their own exemption certificate and the appropriate forms should be submitted as early as possible as they can take several weeks to process. The Team at Estates East can advise you on how to sort this out.
UK & non-UK landlords
If you are a landlord resident in the UK, your net income from your investment property is subject to income tax. The level of tax depends on your other income. If you are already a higher rate taxpayer, tax will be payable at the higher rate. The normal method of reporting your taxable assets to the Inland Revenue is a Self-Assessment Tax Return form. We strongly advise that you take independent advice from a tax specialist. The following deductions can be made from your rental income to arrive at the net income, which is subject to tax:
Non-UK resident landlords
The Non-Resident Landlord (NRL) scheme is for taxing the UK rental income of persons whose “usual place of abode” is outside the UK. If you are treated as a non-resident Landlord you still have to pay UK income tax on rental income from your UK property. Unless the landlord can provide Estates East with a current Inland Revenue exemption certificate, the law obliges us to deduct basic rate tax from rents received and for us to account to Inland Revenue on a quarterly basis. Any Landlord named on the tenancy agreement, when living overseas, requires a separate exemption certificate.
Estates East keeps a constant monitor on the above and updates landlords of any changes.
Any questions? Call 020 8520 9300