An Inventory and or Property Check In is a safe way to ensure that the property is given back as it was found as it is an Independent service leaving no room for discrepancy between the Landlord and the Tenants.

This is an additional cost to any other costs incurred but could well be a small price to pay for a big piece of mind.

Please feel free to contact us to arrange for one of our Qualified Inventory Inspectors to carry out an Inspection on your property. (price upon request)
Letting your property can be a stressful task and something that can leave a lasting imprint on the rest of your life. With years of experience our team at Homes On Web aim to take the strain away and allow you to concentrate on the more pleasurable things in life.

Homes On Web are proud to be able to offer you the full spectrum of property letting and management services under one roof. This is made possible by the experience, skill and expertise of our lettings team which also ensures we are well placed to have a detailed understanding of the lettings and management process. This in turn allows us to be able to give our customers the best possible service.

Landlords have come to expect extensive knowledge and expertise from the agency they will trust with letting what is probably their biggest asset.

WHERE TO START?
Some top tips on Letting your Property

1. In an extremely varied area such as Milton Keynes, it is imperative to use an agent that has experience and knowledge of the local market. With over 20 years combined experience, this is something that our team can certainly offer.

2. Having chosen your agent you will be required to prepare you property to be let out, and below we list a few guidelines to assist you. The rental market can be very competitive, so in order to obtain the best possible tenants and achieve the best price for the property it is crucial to make yours stand out from the rest.

• Interior walls should be neutral colours and carpets plain
• Fabrics and Furnishings (if applicable) should be of suitable quality to be able to withstand reasonable wear and tear.
• If you have pets, it is advisable to keep them outside for the viewings, and to eliminate their odour as much as possible.
• First impressions are vital, so the front door and hall area should be clean, tidy and clear of any obstructions.
• The property should be clean and well-aired throughout and the garden (where applicable) kept tidy.
• If the weather is cold, heating should be turned on and, in warmer conditions, windows opened.
• For advice on whether you need to do any work on your property, please contact us to arrange a valuation.

3. Other important considerations for landlords before letting a property:

• Written consent must be obtained from your mortgage provider/freeholder (if property is leasehold).
• Your insurance company must be notified that the property is to be rented out and appropriate insurance obtained for a tenanted property. There are specialist insurance companies who can provide this and we are happy to assist you if required.
• The Inland Revenue must also be informed within six months of letting your property, flat or apartment in the UK. Failure to do so may mean you could incur penalties, interest and other consequences. The Inland Revenue have been known to deal harshly with landlords who do not declare rental income and it is always best to seek advice on tax planning and capital gains tax from a fully qualified accountant.
• Mail should be redirected with the Post Office to avoid anything important going astray.
• Further copies of keys will need to be provided, including any communal door keys. At least two sets will be required if you have management agents acting for you.
• Utilities such as gas/electricity/water/telephone & council tax will have to be transferred into the name of the new tenant(s).
• It is essential to appoint a professional to prepare an inventory and undertake a check in. An inventory is an important legal document which forms an integral part of the tenancy agreement and as such it is a false economy to prepare your own in most cases.
• The inventory is required whether the property to let is furnished or unfurnished. Accurate descriptions of the overall condition of wall/floor coverings, kitchen and bathroom fittings to name but a few are essential, as money cannot be withheld from the tenant's deposit unless the loss or damage is proved to have been caused by the tenant.
• In the event that any dispute concerning loss or damage to your property is not amicably resolved then the matter will be referred to the courts and arbitration. It should be noted that any judgement will be on the basis of written documentation – the Inventory.

4. Tenancy – The Housing Act 1988 (amended 1996) has given rise to two types of tenancy: Assured and Assured Short hold Tenancy as well as the existing Company Tenancy and Contractual Tenancy.

• Assured Tenancy Certain criteria have to be satisfied for a tenancy to qualify for assured status. Assured Tenancy gives the Tenant security of tenure but at a market rent negotiated between the parties. The Landlord may request back possession of the property let on an Assured Tenancy but must obtain a COURT ORDER. This has its advantages but is not as flexible.
• Assured Shorthold Tenancy (AST) This Tenancy is attractive to Landlords as it offers market rents without security of tenure beyond the contractual term and the majority of Tenancies are based on this format.

However, certain criteria must first be met:

• The Tenant must be an individual
• The property must be the Tenant’s main residence/home
• The rent cannot exceed £25,000 per annum
• The Landlord must not occupy the same property
• If the property is let under an Assured Short hold Tenancy, the Landlord can issue a Section 21 Notice to guarantee possession provided the term of the Short hold is expired and not less than two months notice has been given by the Landlord stating he requires possession. If court action is needed, this can be obtained on a number of different grounds against the Tenant. However, it should be noted that is a criminal offence under the Protection from Evictions Act 1977, for a Landlord to threaten or forcibly evict a Tenant from their property.
• Company Tenancy This is governed by contract law and is not regulated by the Housing Acts of 1988 or 1996. It is used when a Private or Public Limited Company (excluding partnership or sole trader) want to enter into a Tenancy. There is no security of tenure and rental payments are often made on a quarterly basis by prior agreement
. • Contractual Tenancy Contractual Tenancy also falls outside the provisions of the Housing Acts of 1988 and 1996 and is not regulated by statute. It is most commonly used where the rent exceeds £25,000 per annum and both parties have the freedom to contract as they choose, but must then rely solely on the provisions of that Agreement.

5. Furnished or Unfurnished - The majority of professional tenants prefer the property to be unfurnished and it has been suggested that a tenant is likely to respect the property more if they have their own possessions. Moreover, the difference between rent for furnished or unfurnished is negligible and the landlord remains responsible for the repair of replacement of any furnishings which become broken or worn (unless this was caused by a deliberate act of the Tenant - (see DAMAGE DEPOSITS)

6. Marketing/Finding a Tenant - When taking the decision to let your property, you will need to decide whether you require your agent to simply market your property and find a tenant or whether you would also like to engage the services of their management department to manage the property on your behalf.
Whether you opt for let only, or our full management service, Homes On Web as your Letting Agent will firstly a provide you with a rental valuation. This is be based on the property type, size and decorative order - combined with popularity of the area, proximity to transport, and achieved rental price of comparable property. It is important to price your rent fairly but realistically in order to attract the most suitable Tenant. Your rental property will be advertised on the leading property portal Rightmove, amongst many others. Should you decide to employ us as your Managing Agent, we will also field calls, arrange viewings, vet prospective Tenants and obtain references, draw up contracts and advise you on your Safety and Repairs obligations (see LEGAL DUTY OF CARE).

7. Full Credit Checking - thorough credit checks are carried out on all prospective Tenants as we can reserve the right to decline an application where necessary in the interests of protecting the Landlord’s investment.

8. References – these can be obtained through us as your Managing Agent and include references from the Tenant’s employer and previous Landlord.

9. Drafting of Tenancy Agreement/Leases – the Letting team at Homes On Web can prepare and supply you with all legal documentation and give practical general legal advice.

10. Damage Deposits – This is usually equivalent to one month’s rent and is taken from the Tenant to be held in our Client Account until the end of the Tenancy. Upon vacation of your property, there will be a re-inspection and any refunds will be made within a maximum of 28 days, provided that there are no disputes and all utility accounts have been settled.

11. The Inventory - This is an important legal document forming an integral part of the Tenancy Agreement.
Unfortunately many Landlords fail to realise its importance (both in legal and financial terms) and try to “save money” by preparing their own inventory.
More often than not this proves a false economy, as amounts cannot be withheld from a tenant’s deposit in compensation for loss or damage unless it can be proved that the loss or damage was actually caused by the Tenant.
Technically the document should be called an “Inventory and Condition Report”, as an inventory simply list the contents of a property not and their condition. This is useful if the items are missing but not if they are damaged. If the condition of the particular item is not accurately described and the inventory was signed by the tenant prior to taking occupation, how can it be proved that the tenant caused the damage? Unfurnished properties also require an inventory and a ‘check in’ and ‘check out’ report as there will always be wall and floor coverings, kitchen and bathroom fittings etc, the condition of which needs to be documented.
Where a dispute cannot be resolved amicably by referring to the contents of the inventory, check-in and check-out reports then details of the disputed amount will be sent to the ADR (Alternative Dispute Resolution) who will base their decision on the contents of the inventory, and the contents of the check-in and check-out reports. Their decision is final and cannot be appealed. We strongly recommend that you allow us to arrange for an Inventory (prices upon request).
The costs of everyday repairs and maintenance are the responsibility of the Landlord, but if we are instructed to manage your property on your behalf, we will deal with any day to day concerns. We can also organise quotes for approval on any major repair as this becomes apparent. Under the Landlord and Tenant Act 1985, Landlords are responsible for repair of the structure and exterior of the property, together with installations for the supply of gas, electricity, water and sanitation.
If the property is not in a good state of repair at the commencement of the Tenancy, the Tenant has the right to insist that repairs are carried out and, in the event that the damage is serious, the Tenant will be entitled to consider the letting as terminated as the Landlord will be in breach of his obligations.

12. Collection of Rent – this is usually done on a calendar monthly basis and is forwarded to the Landlord via any previously approved method after any agreed deductions have been made for contractors etc.

13. Legal Duty of Care – Under common law, the Landlord must ensure that properties to let are safe and failure to comply with Safety Legislation is considered a criminal offence resulting in legal action and prosecution.

As your Managing Agent, we can carry out safety checks upon your request, deducting the cost from your rent.

• Gas – (The Gas Safety (Installation & Use) Regulations 1994 (amended 1998) – the Landlord must maintain gas installations and all gas appliances through annual inspections and safety checks carried out by a GAS SAFE registered engineer and a copy of the Current Inspection Certificate must be left at the property.
• Electricity - (The Electrical Equipment (Safety) Regulations 1994 & Electricity at Works Regulations 1989- the Landlord must ensure that all mains voltage household electrical appliances and equipment is tested and safe to use. Any non-repairable items must be replaced and removed.
An NICEIC or similarly qualified electrical engineer must carry out these tests on an annual basis and we would also recommend this is done upon change of Tenancy.
All operating instructions must be left in the property for the Tenant’s benefit.
• Furniture and Furnishings – The Furniture and Furnishings (Fire) (Safety)Regulations 1988 (amended 1989 & 1993) - Soft furnishings (such as mattresses, settees, bed bases, cushions and padded headboards) must meet fire resistance standards and bear a permanent label confirming this. If compliance cannot be proved, the item must be removed and replaced.
• Smoke Detectors – whilst only properties built after 1992 legally require the fitting of smoke detectors (Building Regulation 1991), we would strongly recommend that smoke detectors are fitted to each floor of the property being let.
NB: The penalty for failure to comply with statutory safety legislation is currently a maximum of £5,000 and/or 6 months imprisonment for each offence. This can be harsher in the case of injury or fatality.

14. Overseas Landlords – you are considered an overseas Landlord if you live abroad or go to work abroad for lengthy periods of time.
It is important to firstly note that Inland Revenue regulations apply even if you are a non-UK resident. Moreover, non-resident Landlords must apply to the Inland Revenue Financial Intermediaries Claims Office (FICO) for authorisation (by way of an exemption certificate) to receive payment of property rental “gross”, that is without deduction of Income Tax by the letting agent or Tenant as required by law.

NB: The above is merely a guideline and for fully qualified advice, you should contact an appropriate Accountant or Tax Expert.
• We will ensure your property is marketed on the leading property portals such as Rightmove, etc...
• We insist on accompanied viewings.
• We also insist on status enquiries/reference and credit check of prospective Tenants.
• We always obtain security deposit.
• And get competitive quotes for insurance.
• We are experts at preparing Tenancy Agreements and Legal Notices.
• We can assist with arranging transfer of Utilities to the new Tenant’s name, and with establishing Council Tax and Water Rates in Tenant’s name.
• We can advise on compliance with Safety Regulations for Gas/Electricity supplies etc.
• We can collect monthly rental payments and provide monthly accounting to you.
• We can arrange annual gas safety checks (chargeable).
• We can also request competitive quotations and, upon approval, arrange for necessary repairs/maintenance to be carried out.
• We deal with all renewals and/or check-out as necessary.
Homes On Web has a professional approach to marketing, making full use of leading property portals such as primelocation.com and zoopla.co.uk. All tenants viewing properties will always be accompanied by a member of our staff to ensure the security of your property. This also forms part of the tenant assessment that we make on behalf of Landlords.

Wherever possible we will listen to your particular tenancy requirements with regard to their suitability for your property and this is not just down to your instructions towards smokers and pets for example. We cannot discriminate against tenant applications, but we do use various criteria towards affordability that is followed to lessen the risk of individuals or companies over committing themselves. Tenants will normally be expected to be in full time employment or have a guaranteed income. They will be required to complete a tenancy application form and from this we will commence the reference process by contacting their employer, bank and previous landlord where appropriate. References are processed through Rent Guard who have Fraud scoring and credit scoring systems.

We use various types of tenancy agreements according to who is applying for a tenancy. For most individuals we use our own "Assured Shorthold Tenancy Agreement", inclusive of a statutory Ground 1 and Ground 2 Notice. Under the provisions of the 1988 Housing Act as amended by the 1996 Housing Act to ensure your rights are fully protected. A detailed schedule of condition and inventory of your property will be prepared prior to the letting and a copy will be forwarded to you, if required, for your records.

A formal hand-over/hand-back will take place at the beginning and end of each tenancy. Any dilapidation identified will be charged against the outgoing tenants' deposit under the terms and conditions of the DPS.

From receipt of rent on the rent due date we transfer rental income using the Bankers Automated Clearing System (BACS) direct to your account, credited as cleared funds within 6 bank working days of the rent day.

Your property can be inspected at 3 monthly intervals to ensure that it is being properly looked after by your tenants. A report will be prepared and forwarded to you together with comments and recommendations concerning any remedial action that may be required to be organised either by us or yourself .

We will discuss any repairs that may need to be carried out, in addition we will forward to you estimates for major works, or for insurance claims, We will ensure that all repairs are satisfactory carried out and completed before authorising payment on your behalf.

We will issue, on your instructions, the appropriate "Notice of Possession" in order to protect your legal rights at the end of the tenancy. On your return to the property, we will ensure that the utilities are connected and that the property is prepared for your occupation . If necessary, we can also care take your property during your absence for which a small additional charge will be made
When you apply for a tenancy there will be an initial administration fee to pay plus other fees which may become payable during the tenancy. These fees are:

TENANTS FEES
Single application fee - £225.00 including VAT
Joint application fee - £300.00 including VAT
Additional Tenant Fee £75.00 (including VAT) per tenant
Guarantor application fee - £60.00 including VAT
Company application fee - £350.00 including VAT
Deposit equal to one month’s rent plus £200.00
Check in fees £25.00 including VAT
Inventory fees 50% (landlord & tenant share) from £80.00* each
Referencing Fee £50.00 including VAT per person
(Referencing fee to be paid in advance and non-refundable)
Pets Disclaimer/Additional Deposit Fee: £200.00 (if the Landlord is in agreement to having a pet at the property).
(Application fees include application fees, share of fees for drawing up the tenancy agreement and registering the deposit with the DPS).
For full terms and conditions please contact Homes On Web LTD
*Inventory fees may vary depending on the size of the property, prices available on request.


LANDLORD FEES
FIND A TENANT

This service finds you the ideal tenant, and sets you up to be hands on and manage your own let.

Advertising your property on Rightmove to potential tenants
Sourcing suitable and reliable tenants for the property
Accompanying potential tenants to view the property
Obtaining references and conducting credit checks on potental tenants
Providing information on the latest safety regulations
Preparing the tenancy agreement
Organising and managing the collection of the tenants deposit
Preparing the inventory on the property
Rent collection (first month only)
Setting up the tenants monthly rent payments
Arranging gas safety checks
Advising on current landlord responsibillities and legislation
Tenancy renewals

Landlord Fees

Our Find a Tenant fees are £450.00 inclusive of VAT
Inventory fees 50% (Landlord and Tenant share) from £80.00* each
*Inventory fees may vary depending on the size of the property, prices available on request.



LANDLORD FEES
FULL MANAGEMENT

This service leaves everything to us, we look after your property as if it was our own.

Advertising your property on Rightmove to potential tenants
Sourcing suitable and reliable tenants for the property
Accompanying potential tenants to view the property
Obtaining references and conducting credit checks on potental tenants
Providing information on the latest safety regulations
Preparing the tenancy agreement
Organising and managing the collection of the tenants deposit
Preparing the inventory on the property
Collecting the rent from the tenant
Regular property inspections
Free tenancy renewals
Arranging annual gas safety checks
Arranging quotes and managing repairs
Being the first point of call for tenants
Lease administration advising on current landlord responsibillities and legislation

Landlord fees

Our Full Management set up fees are £408.00 inclusive of VAT (This is a one-off fee)
Inventory fees 50% (Landlord and Tenant share) from £80.00* each
*Inventory fees may vary depending on the size of the property, prices available on request.

Our monthly full management fees start from as little as £44.00 per calandar month
call us today on 01908 516117 for a quote on your property


*Please note Homes on Web currently do not subscribe to a client money protection scheme.