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Leasing FAQs

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This page of my website contains some of the most Frequently Asked Questions about Property Leasing Services. Please send me an e-mail with any questions not covered here.

1. How much is my property worth?

2. How will my property be advertised?

3. Who will show my property?

4. Does it matter if I have a mortgage on the property?

5. Am I still required to Insure the property?

6. What legal paperwork is required?

7. Will I get my property back?

8. Do I need a list of what I leave in the property?

9. What do I need to do regarding services in the house?

10. Who pays the Local Authority tax?

11. If I'm abroad who sign the lease?

12. What if there is an emergency at the property?

13. How do I get my monthly rent?

14. Do I have to pay tax on my rent income?

15. Do I have any obligations regarding property safety?

16. "Multiple Occupation" - What does this mean?

17. Will anyone check the property?

18. Who will carry out repairs in my property?

19. How many sets of keys do you require?

1. How much is my property worth?
I will carry out an initial visit to the property to assess the current rental value and to ensure that the property is of a sufficient standard for leasing. I will at this time give advice on any necessary works that may be required to make the property more desirable to potential tenants.

2. How will my property be advertised?
A list of all properties available for lease is mailed to all the major Oil Companies, Relocation Agents and hospitals in the Aberdeen area. The list is updated and issued on a regular basis. I have my own website and property schedules with photographs can be viewed on www.yvonnemoirpropertyservices.co.uk. I am also a member of the UK Property Shop and enquiries are forwarded from their website www.ukpropertyshop.co.uk to my office by e-mail on a regular basis. Properties suitable for students are also registered with the appropriate University accommodation offices.

3. Who will show my property?
Where the Landlords are not available I would be delighted to arrange accompanied viewings for prospective Tenants.

4. Does it matter if I have a mortgage on the property?
If there is a mortgage secured on your property, it is necessary to seek the permission of the Lender to lease your property. The Lender will always wish to approve the Lease. It is the Landlords' responsibility to obtain this consent prior to leasing their property. Interest rates may be affected and an administration charge levied.

5. Am I still required to insure the property?
The Landlords are responsible for insuring the property. They are required to insure the buildings and also any contents to be left in the property. It is essential to inform the insurers that the property is to be let as premiums will alter and some insurers may refuse to insure a leased property. I can assist in arranging appropriate insurance. I will advise Tenants that they require to insure any belongings that they bring into the property and also to take out the appropriate accidental damage cover.

6. What legal paperwork is required?
Where a Company takes the tenancy of a property, the Landlords and the Tenants (the Company) are each liable to pay a share of the legal expenses for the preparation of the Lease. It may be that the Company in question will insist on using their own lease styles which I will check to ensure that there are no adverse conditions inserted which may affect the Landlord. Where the property is leased to an individual, the Housing (Scotland) Act 1988 applies. In this instance, the Landlord is responsible for bearing the cost of preparing the Lease which normally takes the form of a Short Assured Tenancy Agreement.

7.Will I get my property back?
The Lease will be prepared to take account of the Landlords' requirements and to give the Landlords the maximum protection against the risk of a tenancy continuing after its original date of expiry. However, even with these protections Court proceedings may be necessary to remove a Tenant. preparing the Lease which normally takes the form of a Short Assured Tenancy Agreement.

8. Do I need a list of what I leave in the property?
Prior to tenants occupying the property I would suggest that a firm of professional valuators attend to take the Inventory of Contents. The charge for this service is usually shared equally between the Landlords and the ingoing Tenants. At the termination of the lease, the valuators are asked to re-attend at the property to review the Inventory. A report on the property and contents condition is then compiled by the valuators and this gives an indication of what should be retained from the Tenants' deposit and what can be considered "fair wear and tear". The valuator can provide independent advice in the event of a dispute. The expense of the review of the Inventory is, again, shared equally between the Landlords and the Tenants. I can also provide this service but on a limited scale for an additional fee.

9. What do I need to do regarding services in the house?
Prior to their departure the Landlords require to have the telephone service disconnected. I will arrange for final gas/oil and electric readings and for the payment of final accounts to be made from incoming rents. All direct debits for services should be cancelled by the Landlords before leaving. It is essential that I know the name of the current suppliers of these services. The new Tenants will then register for these services in their own names. In the case of default by Tenants in payment of any of these accounts, the Landlords are not liable for any outstanding accounts. The Tenants are also responsible for paying for any TV Licence for the property.

10. Who pays the Local Authority tax?
It is stated in our Leases that it is the responsibility of the Tenant to register for and pay any Council Tax due on the property. In the event of the property being vacant for a period of time then the appropriate discount will be awarded by the Council.

11. If I'm abroad who signs the lease?
In cases where the Landlords intend to be resident abroad, I would find it advantageous to have a Factoring Mandate drawn up. The Factoring Mandate enables me to sign any Tenancy Agreements on behalf of the Landlord, once all terms and conditions have been agreed.

12. What if there is an emergency at the property?
When Landlords are resident abroad, it is essential that in addition to an address that I have at all times current telephone and fax numbers and an e-mail address in order that I can make immediate contact in any emergency.

13. How do I get my monthly rent?
When I am carrying out the full factoring service for the Landlords, the monthly rental payments will be made to my Office. I will deduct the monthly factoring fee, retain any necessary sum to meet Income Tax and accounts and forward the balance to the Landlords' Bank or Building Society Account. A monthly Rental Statement is sent to each Landlord giving details of all payments made and received. Wherever possible I will arrange for rent to be paid to my Client's Account by standing order and then to transfer the balance of rent to Landlords' accounts by direct transfer so as to avoid delays in waiting for cheques to clear.

14. Do I have to pay tax on my rental income?
UK Landlords are required to pay tax on property income after offsetting any allowable expenses. In the case of Landlords residing abroad then the Non-resident Landlord's (NRL) Scheme comes into effect. In order to avoid the Agent having to retain 22% of your monthly rent for tax purposes you would require to complete a NRL1 form (in the case of joint owners a form for each person is required) prior to you leaving the UK or prior to you receiving the first month's rent. These forms will be submitted to the Inland Revenue who will then inform both the Landlords and their Agent that approval has been given for the rental income to be paid with no tax deducted. The Inland Revenue will then ask the Landlord to complete a Self Assessment Tax Return once a year to work out whether they have any liability to UK tax. Your tax advisor will be able to assist you further in this matter.

15. Do I have any obligations regarding property safety?
The following regulations are in place to ensure Tenants safety during the period of their stay in your Property:-
(a) All gas appliances must be safe and serviced in accordance with "Landlords Gas Safety Regulations". Any Corgi registered plumber or gas fitter will advise on further steps required to make your property safe. This is a mandatory requirement under "The Gas Safety (Installation & Use) Regulations 1998" and the safety certificate must be renewed annually. I would suggest taking out a contract on the gas appliances which would ensure continuity of servicing.
(b) Electrical equipment in privately rented houses in now subject to the "Electrical Equipment (Safety) Regulations 1994" and all equipment should bear a British Safety Standard mark (CE mark) to show compliance with regulations. It is now a mandatory requirement to have existing installations checked and an electrician should be asked to produce a "Periodic Inspection Report for an Electrical Installation".
(c) All furniture and furnishings should comply with "The Furniture & Furnishings (Fire)(Safety) Regulations 1988 ie. Settees, armchairs, mattresses and any other upholstered items should carry a label displaying a match and lighted cigarette symbol or reference to the 1988 regulations. Further information can be obtained from the Department of Trade & Industry booklet.
(d) Smoke alarms should be fitted and batteries installed with the date of purchase clearly marked. Carbon Monoxide detectors are also a valuable investment.
(e) Adequate locks on windows and doors should be provided in line with insurance company guidelines.

16. "Multiple Occupation" - What does this mean?
A simple explanation of a House in Multiple Occupation is - a house or flat which is occupied by 3 or more unrelated people. In the main this relates to student flats and, from 1st October 2003 the number allowed to share without a licence being requested is being reduced to 2 persons. Further information is available on request.

17. Will anyone check my property?
Quarterly inspections will be carried out on each managed property and a brief report will be sent to the Landlords.

18. Who will carry out repairs in my property?
Before the commencement of any lease, it is essential that I am informed of any guarantees or warranties for equipment in the property, any insurance policy details and any service contracts relating to any equipment in the house. It is also very useful to know the names and telephone numbers of any preferred tradesmen. If the Landlords don't have preferred tradesmen I have a comprehensive list of tried and trusted workmen.

19. How many sets of keys do you require?
I will require three sets, two for the Tenants and an extra set of keys for my retention.

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