At Oscar and Hunt, our main
objectives are to be a transparent, honest, helpful and professional
lettings and management company. Over the years we have been asked
many different questions by landlords and we have tried to cover
as many as we can below. If you have a more personal question you
would like to discuss then please call us on 0208
861 0459 or contact
us here.
Do I need to gain permission from my mortgage lender if I want to
let my property?
Yes. It is important to inform your mortgage lender that you are
planning to let your property. They may have special conditions or
charges involved with this.
Who will conduct the viewings on my property?
Viewings will be conducted by one our representatives during our
office hours. We aim to give you as much notice as possible. We
normally request a set of keys so we can continue with viewings
without having to ask you to take time out.
Do I have to pay for a valuation?
Oscar and Hunt do not charge for a valuation. It is free and you
have no obligation to sign our terms and conditions and take on
our service. At the valuation, our fully qualified lettings managers
will assess the achievable rental price for your property and also
discuss the potential tenant/s and time scales they believe it
will take to successfully rent your property. We have a reputation
of achieving excellent rents in short timescales.
Do I have to provide furniture for my tenants?
No. It is your choice to decide whether you would like to offer your
property furnished or unfurnished. We will discuss this with you
before we commence any marketing. Many landlords stay flexible
on this option and base their decision on the incoming tenant.
How do I know I am getting a good tenant?
As a lettings and management specialist we devote more time to ensuring
the prospective tenant is fully vetted and qualified to meet our
criteria. We carry out identity and residency checks on all tenants.
We use a referencing company to carry out credit, affordability
and bank verification checks and also personally call previous
landlords to ensure there is no adverse history. If a tenant does
not meet ALL of our criteria they will be asked to provide a guarantor
(who will undergo the same checks as the tenant). We also have
the facility to reference check international tenants. We are happy
for you to meet the tenant/s to give you that extra peace of mind
and ask any questions you may have.
Who will protect the deposit?
All deposits paid by tenants must be lodged with a tenancy deposit
protection scheme within 14 days of receiving the monies. If you
sign up to our let only or rent collection service, you will have
to protect the deposit yourself. If you require us to protect the
deposit there is a charge of £35.00. If you choose to protect
the deposit yourself we can advise you of the different schemes
available to you. However when you take our full management service
we will protect your deposit for you at no additional cost.
Who is responsible for paying the council tax and utility bills?
Unless stated in the tenancy agreement it is the tenants responsibility
to pay the council tax, gas, electricity and water bills charged
to the property during the term of the contract. It is both the
landlords and the tenant’s responsibility to ensure there
is a valid TV license for the property but the payment of this
is the responsibility of the tenant.
What is an inventory and do I require one?
An inventory is an integral part of letting your property. Your property
is a very valuable asset and an inventory is there to protect your
property and its contents. An inventory lists the condition of
your property (such as walls, ceilings, woodwork, doors) and all
items being left in the property (such as beds, wardrobes, appliances).
This document is signed by all parties to agree the condition of
the property at commencement of the contract. This way there are
no discrepancies at the end of the term.
An accurate inventory can
save you money in paying for works and decoration that clearly
isn’t needed, provides great proof
in disputes and most importantly ensures you have that extra peace
of mind. Oscar and Hunt provide an inventory with our full management
service and also provide landlords with inventory pictures. For landlords
who take our let only or rent collection service there is additional
charge. Call us on 0208 861 0459 to discuss.
Do I require insurance for my property when renting it?
Yes. You will require a landlord buildings and contents policy as
your residential insurance will be invalid if a claim is ever made.
Oscar and Hunt exclusively use London Finance Solutions for all
insurance and mortgage enquiries. Please let us know if you require
a competitive quote.
How is my rent paid to me?
It is a condition in our tenancy agreement that the rent is paid
into our account by direct debit or standing order. In our let
only service we will provide the tenants with a standing order
mandate for your account directly. If you opt for our rent collection
of full management service this standing order will be set up to
our account and we will transfer the rent less or commission and
any outgoings to you within 7 days of rent being cleared in our
account.
Who pays my income tax on my rental income?
If you are a UK landlord it your responsibility to pay any income
tax due on rental income earned. If you require an accountant we
can recommend one for you.
If you are an overseas landlord then the rules are different. You
will need to complete a NRL1 form (which we can provide you). This
will mean that all rental income earned from your property is paid
directly to you less any fees and outgoings. If you do not fill in
the NRL1 form either us as your managing agent or the tenant must
hold back 20% of the gross rent and send this to the Inland Revenue
on a quarterly basis. For more information on this and to discuss
this further please call one of our property managers.
