All income derived from the letting of a residential property should be assessed for income tax. UK resident landlords are responsible for their own tax affairs and we strongly recommend that you seek advice from a tax specialist, as careful planning will enable you to reduce your overall tax liability. Please note that all London Residentials fees are tax deductible.
In the case of overseas landlords we are obliged and authorized to withhold a percentage of gross rental income received in respect of a potential tax liability. You can however arrange directly through the Inland Revenue to take control of this yourself, upon completion of a simple form, which can be obtained through the London Residentials management centre. Until we have received written authority from the Inland Revenue we cannot release any refunds withheld.
This may seem very daunting but believe us it really isn’t; with London Residentials we will guide you through the whole process, painlessly.
London Residentials total support and contact at all times
- London Residentials full management service
- London Residentials let only service
- London Residentials tenant supervision and liaison
Property management schedule of inclusive services
- Marketing and adverting the property
- Accompanied viewing
- Tenant selection and stringent vetting procedure
- Free six month rental protection cover
- Preparation of tenancy agreement and related documentations
- Preparation of inventory and schedule of condition (at additional cost if furnished)
- All meters read & utility companies informed
- Deposit held in a audited client account
- Arrange standing order payments
- Collect monthly rental payment from tenants
- Forward rental payments promptly to landlords
- Forward statements on monthly basis
- Chase and pursue late payments
- Regular visits to the property and full written condition report send to the landlord
- Assist with any minor insurance claims
- Arrange routine repairs and maintenance
- Arrange annual safety tests
- Completed final inspection of property
- Deal with any dilapidations
- Release deposit
- Notifying utilities at beginning and end of tenancy
- Preparation and serving of appropriate notices
- Copy rental statements
Your property needs to be in good order
The condition of your property will affect its full market value and desirability. Here are some things to consider
Property exterior
- Are all windows intact and in safe working order
- Are all doors intact and safe working order
- Do all locks work properly
- Do you have a key for all doors and windows etc
- Are there any lost or broken roof tiles
- Are the facias and guttering in good conditions
- All drains should be clear and working properly
- Are all concrete and paved areas level and safe
- Ensure any steps are safe and well maintained
- Are gardens well maintained
- Is all masonry safe and well maintained
- Is all décor to an acceptable standard
Property interior
- Are all carpets properly fitted, clean and in good condition
- Are all curtains and fittings secure, clean and in good condition has the property been decorated to an acceptable standard
- Is the heating system fully operational and maintained
- Are stairs and rails secure and safe
- Are kitchen appliances safe and in good order
- Is sanitary ware in good state of repair
- Are seals in bath/shower/sink in good repair
- Do all toilets flush and work properly
- Are any other items of furniture you are providing suitable and in good conditions
London Residentials can help to assess your property’s suitability and advise you of any work, which may be required. |
