Landlords

WHY USE

TATTERSHALLS?

Tattershalls is an independent lettings and property management specialist, dedicated to offering its clients a fully-customised service. We will ensure that each of our clients receives a tailored service so that they can have complete peace of mind and confidence in letting their properties.

WE ONLY ACCEPT

THE BEST TENANTS

Many of our landlords have invested significant amounts of time and energy in their properties and therefore only want the best tenants to occupy them. By conducting a thorough background check on all applicants and by implementing a sensible screening process, we aim to eliminate any uncertainty our clients might have of putting their properties on the market. Our track-record of securing tenants who look after their properties and pay their rent on time is a testament to our commitment to getting it right.

WE ARE

CERTIFIED PROFESSIONALS

We are proud members of ARLA, the Association of Residential Letting Agents. A significant number of our competitors are not licensed as the industry isn’t regulated. This means anyone can operate as an agent without having the recommended knowledge, qualifications or experience to provide a first class service.

WE USE

THE BEST-IN-CLASS SYSTEMS AND PROCESSES

Our investment in industry-leading management software means that we can easily and accurately produce our clients’ account statements and monitor expenditure transactions over any given period. There are significant benefits to our landlords who hold their assets over a long period of time by having us summarise their out-goings and identifying historic cash “leakages”. Furthermore, by scheduling periodic maintenance and inspections, running costs can be minimised and a proactive approach to recommending repairs and refurbishments can be implemented.

WE HAVE

AN ESTABLISHED NETWORK

Through our long-established contact base, we have access to a large number of professionals and academics who live and work in Nottingham and the surrounding areas. Many of these potential tenants are repeat renters who will choose to experience different areas of the city as their preferences change and their careers develop. We endeavour to maintain close contact with as many of our clients as possible, even after a tenancy has ended, to understand from them what their next requirements might be. In doing so we have been very successful in matching them with our available properties. In addition, our relationship with some of Nottingham’s largest employers provides us with a constant stream of new applicants all of whom tend to want to live in the best areas of town.

OUR FEES ARE

FAIR AND SENSIBLE

We believe in building long-term relationships based upon trust and transparency. Our fees therefore reflect the actual work that we have dedicated (or expect to dedicate) to serving our clients. For any additional or unexpected work that we undertake we will always seek to discuss this with our clients in advance and charge a fair and sensible amount for our time and effort.

TEN TOP TIPS

FOR LANDLORDS

1. KNOW YOUR AGENT

Your property is a valuable asset; always make sure you know and trust who is representing you on it. Unlicensed agents may not have the necessary knowledge or experience to act in your best interest and whilst they may offer lower fees, they will probably also make promises that they cannot always honour. Furthermore, you need to be sure that they are up to date with the legal obligations of letting a property such as carrying-out “right to rent” checks on all tenants. If you are going to rent out your property, always ensure that it is with an ARLA licensed agent and that the staff are also ARLA qualified. Being ARLA licensed means that the agent will be up to date with new legislation and will have to undergo regular training to ensure they keep their licence.

2. KNOW YOUR AUDIENCE

Having a clear understanding of your intended target market and setting the rent appropriately is the best way to minimise void periods and maximise your yield. Your agent should give you a realistic price range and recommend ways to enhance the lettability of your property. Furthermore, by ensuring that your property is well maintained and presentable, the likelihood of your tenants staying longer and renewing their tenancy will increase.

3. KNOW YOUR LEGAL REQUIREMENTS

As the industry evolves and regulations are tightened, you, as the landlord, need to ensure that your property complies with the latest legislation. An ARLA licensed letting agent will always be up to date with changes in the law and help you meet your obligations. Specifically, you will need:

  • A gas safety certificate
  • An Energy Performance Certificate (EPC)
  • Smoke detectors and carbon monoxide detectors
  • An electrical safety certificate including a Portable Appliance Test (PAT) certificate

4. KNOW HOW TO IMPRESS PROSPECTIVE TENANTS

If you are looking to maximise your rental income and retain long term tenants, your property needs to stand out from the rest. This does not necessarily mean spending lots of money; instead, simply ensure that the property is presented in the best possible way and that everything works. Small gestures go a long way when renting out a property, from something as small as having fresh flowers on the dining room table to ensuring the garden lawn has been mowed.

5. KNOW WHEN AND HOW TO FURNISH YOUR PROPERTY

If you are considering to supply furniture for your tenants, you should consider the implications of doing so. Firstly, consider whether the tenant will be prepared to pay additional rent for your efforts; if not, is it necessary? Secondly, be prepared to accept wear and tear during the tenancy and possibly damage. Whilst in some circumstances, you will be able to make a deduction from the deposit, you cannot necessarily claim for the full cost of replacement or your time in doing so. Finally, any upholstered furniture you supply must comply with the Furniture & Furnishings (Fire) (Safety) Regulations 1988.

6. FIND THE RIGHT TENANT

Ensuring that you have the right tenant is crucial; your agent should be able to carry out a full credit check and reference check on your behalf to make sure the applicant meets the basic requirements. Importantly, as of the 1st February 2016, it is a legal requirement to carry out a “Right-to-Rent” check on all potential tenants and failure to do so can carry a hefty fine.

7. MANAGED OR LET ONLY?

Once the property has been let, someone has to manage it and be the point of contact for the tenants. Some landlords prefer to manage their own properties as they feel they will be able to offer the best service whilst others employ the help of a managing agent. Before deciding which route is most appropriate for you, it is worth considering the following:

  • Do you want regular contact with your tenants?
  • Are you able to deal with maintenance issues day and night?
  • Do you have a suitable network of trusted contractors to carry out repairs?
  • Are you familiar with your obligations under the tenancy agreement?

8. KNOW WHAT INSURANCE IS REQUIRED

Being responsible for a property and the welfare of your tenants has its risks. Every landlord should be suitably insured to cover all eventualities. Hopefully, things won’t go wrong but accidents happen and they can be expensive to rectify. Always take advice from a qualified insurance broker and take out sufficient cover for the duration of the tenancy.

9. MAKE SURE YOU HAVE AN INVENTORY

Memories can fade and verbal agreements can be forgotten. At the start of every tenancy, have a competent third party complete an inventory and conditions schedule for you. Once completed, make sure that the tenants confirm acceptance of the report by signing it on every page. This will protect you at the end of the tenancy if any deductions for damage need to be made.

10. PROTECT THE DEPOSIT

It is a legal requirement to protect your tenant’s deposit through a government scheme. The landlord has 30 days from the start of the tenancy to protect the deposit. Once the deposit is protected, ensure that all parties (parents, partners etc.) that have contributed towards the deposit are given a copy of the certificate, prescribed information and scheme leaflet. If a dispute arises at a later date, failure to do so could count against you in a court of law.

THE

LETTINGS PROCESS
1. VALUATION

1. VALUATION

A valuation is carried out on the property to see how much it can be rented-out for each month.

2. FEES

2. FEES

A fee to market the property is agreed between the landlord and letting agent and photographs are taken in order to market the property.

3. TENANT APPLICATION

3. TENANT APPLICATION

A prospective tenant completes an application for the property; this applicant is always discussed with the landlord first before being accepted. Once accepted, the referencing process commences.

4. REFERENCES

4. REFERENCES

Once all references have been obtained, the prospective tenant will sign the tenancy agreement and pay their deposit. This is usually within 7 working days.

5. INVENTORY

5. INVENTORY

If requested, the property is professionally cleaned and an inventory is carried out.

6. KEYS

6. KEYS

The tenants pay their first month’s rent, sign the inventory and collect their keys from the agent.

7. FIRST MONTHS RENT

7. FIRST MONTHS RENT

The landlord receives their first month’s rent less the letting agent’s fee and the full deposit (if they have chosen to protect it themselves). In addition, the tenant will receive a copy of the signed tenancy agreement and financial statement.

8. TATTERSHALLS PROTECTION

8. TATTERSHALLS PROTECTION

If the property is fully-managed, the letting agent will always protect the deposit on behalf of the landlord.

9. RENEWAL REQUEST

9. RENEWAL REQUEST

Two months before the end of the tenancy, the agent will approach the tenants to see whether they would like to re-new their tenancy or vacate the property.

10. CHECK OUT

10. CHECK OUT

If the tenants decide to move out, a check-out is completed on hand-over and the deposit is returned accordingly. A fee may be charged for this service if the property is not fully-managed.