H.P.L was formed in 1999 & are now managing more than 1000 properties over Merseyside. Our Kensington office
in Liverpool is visited as a letting centre for easier access for tenants and prospective tenants. All our property consultants have a variety of experience concerning tenants, landlords, housing benefits, and maintenance etc. We use full-integrated computerised systems for property management & accounts.
If you are planning to rent a property, there are a few questions you should ask?
What do I have to pay to the Agent?
You should not pay introductory fees, but there will be certain costs for you to cover, for administration, including the preparation of the tenancy agreement, and taking up references.
What money do I need to find at the beginning?
Normally at least the first months rent in advance and the equivalent of a month to six weeks rent to be held as a deposit against damage and dilapidation's (and the administrative charges noted above).
What information will I need to supply?
The address of referees for the Agent to write and confirm your ability to meet the rental commitment. These will normally include you bank or building society, employer, previous landlords or for some, your solicitor and/or accountant.
What is a tenancy agreement?
It is a legally binding document between you and the land lord, applicable only to you and the property you are renting, that states the amount of rent, the length of the tenancy, your rights and responsibilities. Your agreement will probably be an Assured or an Assured Short hold tenancy under the Housing Act 1988. For bona fide companies and/or rental values over ?25,000 a year, the agreement will be drawn up under a contract law.
What is a holding deposit? Do I get it back?
Holding deposits - usually a nominal amount - can be required when you make an offer on a property. If, for any reason, you decide not to go ahead by an agreed date, the holding deposit will be retained against administrative costs already incurred. Otherwise it will be off-set against the first rent and full deposit payments. If the landlord decides not to proceed, then the holding deposit will be returned. Paying a holding deposit in no way obliges either party to enter into the tenancy.
What must I do at the end of a tenancy?
Ensure you fulfill your obligations stated in the tenancy agreement to leave the property in the condition it was in at the start, or deductions will be made from your deposit. These will include through cleaning and all linen, used or not, freshly laundered. If you have moved furniture, return it to where you found it at the time of inventory.
Is there any sort of rent payment protection?
LetsXL Rent guard has been designed for people renting residential property and provides cover if you are unable to work as a result of an accident, sickness or unemployment. Two levels of cover are available, one for tenants renting a property as a short term arrangement, the other for tenants who expect to continue renting a property for 12 months or more. For more information contact one of our offices.
How long is a typical let?
Most agents require it to be a minimum of six months and rarely write a tenancy agreement for longer than a year.
How long does it all take?
Normally, about ten working days to take up and confirm references, clear your cheque covering the first rent period and the deposit, arrange for inventories and the transfer of utility accounts into your name. No professional agent can allow you possession before all this has been done.
What are my responsibilities?
Your responsibilities should be clearly stated in your tenancy agreement, which you should read carefully before you sign. If you have any doubt you should not hesitate to ask the agent. It is the duty for a professional agent to ensure that anyone entitled to rely on them is offered correct advice.
What happens if I want to stay on? Leave early?
Tenancies are frequently renewed, and Agents often agree terms for renewal at the beginning, and include them in the tenancy agreement. If you are likely to leave before the end of the original term agreed, you must negotiate break clauses to be written into the agreement. If not, you will remain responsible for the rent until the end of the term agreed, unless a new and satisfactory tenant can be found.
Who has been holding my deposit?
Normally, the Agent in a designated client deposits account and the correct amount will be returned to you - or appointed to the landlord if anything is missing or damaged.
What else do I have to pay for?
The tenant pays the utility bills, such as gas, electricity, and telephone during the course of the tenancy, TV license, etc; and the Council Tax applicable to the property.
How do I get my deposit back?
After an inventory check and condition inspection, provided there are no missing items or damage, your deposit will be returned shortly after you leave the property. You cannot set your deposit against the last rental due.