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Letting Property

• Whatever method tenants use to look for a place to rent, your property will be highly visible in our Office, on our website and across the World Wide Web.

• With our high profile marketing it has never been easier to let your property in London. Anyone viewing your property details will have a vast array of information at the click of a button. Tenants can review your property in the context of everything the local area has to offer, with instant access to a map of your property.  With thousands of tenants visiting our website every day, you can be confident they will see your property in its best light.

Advice for new Landlords

Always be aware of recent legislation for landlords. These include Tenant Deposit Schemes required to safeguard tenants’ deposits and rules regarding Houses of Multiple Occupancy (properties let to three or more tenants who form more than two households and share a bathroom and kitchen).

• We will carry out a comprehensive reference and credit check, to ensure that you have suitable and reliable tenants before the lease is signed.  Maxim will then compile an inventory or a schedule of condition and take a damage deposit equivalent to six weeks rent.
• Maxim is a member of the Association of Residential Lettings Agents, The National Association of Estate Agents or The Estate Agents Ombudsman Scheme.
• Ensure you do not make the mistake of including bills in the rent.  With energy costs rising rapidly, you will find that your rental income could be significantly lower by the time the tenancy agreement comes to an end
• Do not over furnish your property. Many tenants are looking to rent for longer before buying their own property, meaning they are now more likely to own at least some of their own furniture. Keep the decor neutral if possible and do not personalise the property as tenants may hide your items in cupboards where they are may get broken.
• Put electrical appliances and boilers under a service contract so that the tenant can call an emergency engineer directly. It is useful to provide a tenant’s handbook, giving details of emergency phone numbers, using appliances, how to operate the boiler and heating and information regarding the local authority, such as the amount of council tax payable, car parking and when refuse and recycling is collected.
• You must submit a self- assessment tax return to MNRC giving details of your rental income. Remember to claim for any allowable expenses such as accountancy, legal and other professional costs such as agents’ fees. You can claim for mortgage interest but not capital repayments on the amount borrowed and for the cost of repairs as long as they cannot be considered to be improvements to the property.
• If you have a mortgage, you must get written permission to let your property from your mortgage provider, as failure to do so may put you in breach of your mortgage conditions.  If you own a long leasehold you will also need the written consent of your freeholder or their managing agents. They may ask you to write covenants from the head lease into the tenancy agreement
• Additionally, you need to inform your buildings and contents insurance provider. Even if your property is unfurnished, it is a good idea to take out contents insurance, as this provides you with a level of public liability insurance.
• Gas safety checks must be carried out every 12 months by a CORGI registered engineer and a record of the checks must be kept for 2 years. The tenant needs to receive copy of this within 28 days and any new tenants should receive a copy before they move in. All fire and security alarms must be in good working order.
• To ensure you get the tenants you want Maxim offers various standard services regarding referencing and working through the deposit process. We give advice to experienced tenants but also to those new to renting to ensure all parties understand the legalities of any/all contracts. Make sure that your property is in a suitable state of repair before potential tenant’s view it, as those in poor states may turn off those tenants you might want.