We have compiled a list of common questions and answers for landlords. Should you have a question which has not been covered, please contact our dedicated Lettings team on 01743 284502 or by emailing us.
Why should I use a letting agent?
There are many reasons why using a letting agent is preferable to going it alone in the rental market. For starters, it helps you to create professional distance between yourself and your tenant.
Letting agents have access to hundreds of potential tenants and are experienced when it comes to marketing a property. It should therefore be much easier to find the right tenant to live in your rental home with the help of an agent.
It also takes the stress out of letting a property as the managing agent will chase rents, assist with deposit disputes, manage any maintenance issues, carry out regular property visits and complete the time-consuming and legally required paperwork correctly.
If you choose an agent who is a member of the Royal Institute of Chartered Surveyors (RICS), ARLA (or a similar industry regulatory body), they will ensure that your property is let in accordance with all the latest legislation and guidelines.
Who will conduct viewings and do I need to be present?
DB Roberts own experienced accompanied viewers will be on hand to show people around your property and answer any questions that may arise.
As long as you have given us a set of keys there is no need for you to be present at viewings. We will complete viewings at times to suit any current tenants and provide you with feedback afterwards.
How will the value of my property be established?
Our lettings valuers will conduct a full evaluation of your property, including its decorative condition and how it compares to other properties, as well as considering local market conditions, before advising you on its monthly rental value. We will advise on how to maximise your rent so that you are able to achieve the best return from your property as we recognise such a valuable asset needs to work for you.
What is the Tenancy Deposit Protection Scheme?
It is a legal requirement for all landlords to place tenant deposits in a Government-backed Tenancy Deposit Protection Scheme. If you opt to let your property through DB Roberts, we will ensure your tenants’ deposits are lodged in the correct manner within the required timeframes.
Are there any extra marketing costs?
With DB Roberts the fee you pay to let your property will include all marketing costs so you can expect the property to be promoted on Rightmove, Zoopla and other portals until it is let without having to pay any additional costs like press advertisements and accompanied viewings.
Do I have to tell my mortgage lender?
Yes. If your property currently has a homeowner mortgage outstanding on it you must inform your lender that you wish to let it out.
When will I receive my rent?
All net rent payments are paid directly to our landlords via electronic bank transfer within 3 working days of our receiving rental payments from the tenant.
Who organises repairs and maintenance work?
If we are instructed to manage your property we will co-ordinate any necessary repairs and maintenance for the duration that we are acting as your managing agent. We have a database of trusted tradesmen, suppliers and contractors who can be called in promptly when your property needs to be repaired or vital maintenance work is required.
What happens if my tenant fails to pay their rent?
If you have instructed DB Roberts on a full management basis we will chase all late and unpaid rents on your behalf and are proud of the low rates of arrears experienced by our landlords. However, many landlords opt to seek further protection by insuring themselves against the threat of a tenant failing to pay their rent. For this purpose we offer optional Rent Guarantee which protects landlords against the threat of unpaid rent and legal fees.
Do I need to pay tax on my rental income?
You will have to pay tax on any profit made from your rented property. You can deduct your day to day running expenses, including any agent fees and repairs, before preparing your tax return so it is important to store your financial records securely. Included in our Fully Managed Service we supply our landlords with a disbursement statement on a monthly basis which should facilitate easier completion of yearly tax returns.