Landlords Frequently Asked Questions

How much is my property worth?
The Lettings market is extremely transient and therefore prices are frequently changeable. It is vital that you get an up to date professional valuation (as you would if you were selling the property). A valuation appointment should take no more than 40-60 mins.

When should I start marketing?
We can, and frequently do advertise properties which are available for immediate occupation, but as a rule of thumb, 6-8 weeks prior to the property being available is a good timeframe to get the ball rolling.

Should I offer the property furnished or unfurnished?
Every marketplace and property type will have its own trends, but typically there is little or no difference in the asking rent whether the property is furnished or not, and often little difference in the likely timeframe for securing a tenant. As such you can simply do what suits you best, but always seek the advise of your local agent first.

What do I have to do to get the property ready?
You will need an Energy Performance Certificate in order to market the property and prior to tenants moving in will need to ensure you have smoke detectors on either floor, a gas/elec safety cert (where applicable) and fire safety regulation labels on all soft furnishings (if the property is to be offered furnished).

Do I need to be insured?
You must have Buildings Insurance cover. Talk to your insurance co or your Letting Agent about a Landlords package.

What is the likely length of the tenancy?
An Assured Shorthold Tenancy Agreement can be anything from 6 months to 2 years. The most common type of contract is a 12 month term with a reciprocal break clause on or after 6 months of continuous tenure.

How much notice do I have to serve to regain possession?
2 months

What reference checks are undertaken?
At Waterfords we instruct an external and independent referencing agency to carry out a credit search, an employment reference, a bank reference, a current/previous Landlord reference. Personal references can also be requested. A final report will be given to the Landlord for approval before he/she signs the tenancy agreement.

How much deposit is held?
We take 1.5 months deposit as standard for each tenancy. All tenancy deposits are held with The Dispute Service www.thedisputeservice.co.uk  

How/when will my tenants pay?
Rent is due on the anniversary of the start of the tenancy and it’s the tenants responsibility to ensure it is received by this date. Most pay by standing order.

What happens if my tenant stops paying?
You (or we on your behalf) should write to tenants every 7 days requesting the rental payment up until the point at which they are 2 months in arrears and you are in a position to serve notice on the grounds of non-payment of rent.

What happens if my tenant is causing damage or nuisance?
These are both terms of their agreement and your recourse would be to serve notice and end the tenancy. 

Who pays council tax?
Tenants are responsible for paying the council tax and any/all utility bills. Landlords must continue to pay any ground rent/maintenance charges.

How does the process work?
From viewing to check in, the process can be undertaken in 7-10 days.

Tenants Frequently Asked Questions

When can I view?
We usually need 24 hrs notice to arrange viewings in properties which are already occupied. If the property is vacant, we may be able to view sooner (diary permitting).

How quickly can I move in?
The process from viewing to check in takes 7-10 days on average

What references will I need?
We will undertake a credit search, an employment/accountants reference, a current Landlords reference (if applicable) and a bank reference.

How do I know if I qualify?
You must have clear credit, be able to provide a good Landlords reference (if you are currently renting), have a UK bank account and be in receipt of an annual household income of 30x the monthly rental.

What happens if I fail referencing?
All is not lost, you can look at the option of paying a lump sum of rental in advance, or proceeding with a guarantor. Ultimately, the Landlord can override the referencing if he/she feels it’s appropriate.

Who can be a guarantor?
Anyone can be your guarantor provided they can satisfy the referencing criteria as set out above. You can only have 1 guarantor per tenancy. Your guarantor will need to sign the tenancy agreement and will be legally bound by all terms contained therein.

How much deposit do I have to pay?
1.5 months rent will be held as a dilapidations deposit during your tenancy. Waterfords hold all tenancy deposits within The Dispute Service www.thedisputservice.co.uk

How do I reserve a property?
If you see a property you like, don’t delay – put forward your offer immediately. You will need to read the terms & conditions, complete, sign and return the document to Waterfords along with photo ID, proof of your current address and the administration fee.

Can I have pets?
Some Landlords will be happy to accept pets, but will often ask for a larger deposit and/or agreement that carpets will be cleaned/fumigated at the end of the tenancy.

How long is my tenancy?
A tenancy can be for anything from 6 months to 2 years, but the most common type of tenancy is 12 months in length with a reciprocal break clause at or after 6 months of continuous tenure.

What does my rent include?
Your rent will include maintenance/block management fees, but tenants are responsible for the council tax and all utilities unless otherwise advised.

How do I pay my rent?
By standing order – the rent must be received by the rent due date (the anniversary of when you moved in).

How do I end my tenancy?
You must give 1 months written notice as per the terms of your tenancy agreement

How do I extend my tenancy?
Waterfords will contact you at least 2 months before the end of your tenancy to discuss extending the term and drafting an extension agreement.

Do I need to be insured?
It is always wise to insure your own belongings and contents insurance which includes accidental damage will protect your deposit.

What happens if I have a maintenance issue?
You will be advised at the start of your tenancy whether the property will be managed by Waterfords or the Landlord, and the relevant contact details will be supplied. 

When do I get my deposit back?
We aim to return all deposits within 10 days of check out – but the speed at which this money is returned is intrinsically linked to how the property is handed back at the end of the tenancy i.e the more works required (cleaning, maintenance) the longer it may take to establish final costs etc.

How does the process work?
From viewing to check in, the process can be undertaken in 7-10 days.