Why use an ARLA Propertymark Protected Agent?

Elite International Real Estate Limited is an ARLA Propertymark member our director holds the member grade. 

Many landlords and tenants are unaware that the lettings industry is unregulated, meaning that effectively anyone can set up as a letting agency.
ARLA Propertymark is the UK's foremost regulatory body within the lettings industry, working to improve standards and protect consumers.

As an ARLA Propertymark member, we have had to fill a number of corporate responsibilities, which mean landlords and tenants will always receive excellent service and professional advice.

Using an ARLA Propertymark agent means:

• Your money is protected - ARLA Propertymark members take Client Money Protection (CMP) seriously. Your money will be held in a designated separate bank account.
• You're working with experts in the field - Propertymark qualified agents who will give you professional and high-quality advice
• Arla Propertymark members undertake regular training and updates on complex legislative changes
• Arla Propertymark members adhere to a nationally recognized Code of Practice, giving reassurance that your agent will be working to the highest standards of best practice
• Arla Propertymark members hold membership to an independent redress scheme
• Arla Propertymark members hold Professional Indemnity Insurance

By choosing an ARLA Propertymark registered agent such as Elite International Real Estate Limited you can have peace of mind that you are working with a professional agent that adheres to the high standards and requirements of ARLA Propertymark membership. As Elite is ARLA Propertymark we must comply with all relevant regulations we have clearly set out what we as agents will do for you as a landlord. Some fees are applicable to services please see fees for cost. 

Things to consider before letting your property

It is illegal to charge tenants certain fees, any landlord or agent found to be in breach of the Tenant fee act is liable for a fine of up to £5,000 for the first offense then further breach within five years liable for a fine of up to £30,000 or prosecution.

Legal responsibilities

The main responsibilities include:

• Ensure the property is fit for human habitation and free from hazards throughout the tenancy
• Protect tenants deposits in an approved scheme
• Provide a tenant on how to rent guide
• Provide the tenant with a name and address in England and Wales where the tenant can serve notices is a legal requirement under section 48 Landlord and Tenant Act 1987
• Ensure the property is kept in a good state of repair
• Carry out a gas safety check and provided the tenant(s) with a copy before the start of the tenancy
• Provide a copy of an EPC certificate to the tenant that must show a minimum rating of no lower than E is met
• Ensure electrical installations and appliances are safe
• Install smoke and carbon monoxide alarms
• Ensure the tenant has the correct contact details for the agent including an emergency number.
• You must ensure you have permission from your mortgage lender in place to let the property
• You must obtain a property license if required

 Referencing 

We at Elite want you to get quality tenants so we reference ALL tenants with HomeLet who will carry out the following:

• Credit check, including adverse history
• Background search on tenant
• Financial checks
• Check their bank accounts are genuine
• Cross-reference against HomeLet’s default database
• Previous landlord or agent checks
• Employment checks to establish salary

Homelet also guarantee tenant eviction if they do not pay their rent within the first 12 month

Rent Guarantee Insurance

Elite also recommends our Rent Guarantee Insurance which covers.

• Cover for the total monthly rent, no matter how many tenants are on the tenancy agreement
  100% of the monthly rent paid for up to a maximum of six months from the date of the first arrears
• Legal expenses up to £50,000 to cover eviction costs if the tenant is in breach of their tenancy agreement
• Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices
• 50% of the rent paid for up to two months after vacant possession has been obtained, whilst new tenants are found

This policy covers the whole property meaning the policy continues even when/if the tenants change

Getting your home ready for tenants

Most of our landlords are experienced but if you are new we have set out the basics below as points to consider, using us as agents we will advise you on how to best present your property. However, we recommend landlords read the How To Let Guide published by HM Government. 

• Clear your property of all items apart from essential items of furniture if you are renting furnished, ALL furniture you leave must comply with the Furniture and Furnishing (Fire Safety) Regulations 1988, if you have blinds with cords they need to adhere to the blind and cord safety legislation There is a higher demand for unfurnished and tenants that contact us preferer unfinished
• Decorate your property with neutral colours remember you are letting the space not living in it the tenant should be able to move in and make it their home for the next 12 months and if they like living there could renew annually.
• All electrical equipment must comply with the Electrical Equipment (Safety) Regulations 1994 and General Product Safety Regulations 1994
• All gas appliances must comply with the Gas Safety (Installation and Use) Regulations 1994, they must be serviced and checked annually with a certificate
• Energy Performance Certificates are mandatory for all rental properties
• Smoke detectors and carbon monoxide detectors must be installed in rental properties
• We recommend that Maintenance Contracts are in place for all appropriate items
• Instruction manuals should be left for the tenant's use
• Professionally clean your property before let and expect the property returned in the same condition minus reasonable wear and tear.

Understanding Different Types of Tenancy Agreements in the UK

When renting a property in the United Kingdom, it's crucial to be aware of the various types of tenancy agreements. These agreements define the terms and conditions of your rental arrangement, so understanding them is essential. Below, we'll explore the most common types of tenancy agreements in the UK:

Assured Shorthold Tenancy (AST)

The Assured Shorthold Tenancy is the most common form of tenancy agreement in the UK. Key features include:

- Typically lasts for at least six months.
- The landlord can regain possession of the property after giving a two-month notice to the tenant.
- Tenants have certain rights and protections under this agreement.

Fixed-Term Tenancy

A Fixed-Term Tenancy is a specific type of AST with a predetermined duration, often lasting for six or 12 months. The advantage for tenants is that the rent remains fixed during the term, offering stability.

Periodic Tenancy

A Periodic Tenancy is an ongoing agreement with no fixed end date. It usually rolls on a monthly or weekly basis. Both tenants and landlords have the flexibility to end the tenancy with proper notice, usually one month.

Renting as a Student

Student tenancies are often structured differently to accommodate the academic calendar. These tenancies are typically fixed-term and align with the academic year.

Company Lets

Company lets involve renting a property through a limited company rather than an individual. These arrangements can be more complex and are often used for corporate housing.

Renting a Room

If you're renting a room within a shared house, you might have a "Room Only" agreement. This grants you a room but might not include access to the entire property. Housemates share common areas like the kitchen and bathroom.

Assured Tenancy

Assured Tenancies provide tenants with more security than ASTs. They are less common but still grant substantial tenant rights and protection. The landlord can only regain possession under specific circumstances.

Regulated Tenancy

Regulated Tenancies are rare, and many existing agreements have been in place for several decades. They provide significant security for tenants and can limit rent increases.

Non-Assured Tenancy

Non-assured tenancies are less common and offer more flexibility for landlords to set terms and conditions. These are not subject to the same protections as ASTs.

Licenses

Some rental arrangements are not covered by traditional tenancy agreements. A license may be used when the occupant does not have exclusive possession of the property, such as in lodger agreements or in cases where the property is not a typical residence.

It's important to understand the specific terms and conditions of your tenancy agreement. Be sure to read and seek advice if you have any questions. Additionally, any deposit you pay should be held in a government-approved deposit protection scheme.

Remember, the type of tenancy agreement you have can significantly impact your rights and responsibilities as a tenant. Always seek professional advice and read your agreement carefully before signing.

Renting property is both exciting and stressful so here at Elite, we have listed a few things that can make the process much smoother as currently, the demand for rental property is high. We recommend reading How To Rent guide published by HM Government 

Know what you require

• Location
• Property type
• Length of tenancy suitable
• Furnished/unfurnished
• Outdoor space
• Parking
• Most importantly your budget

Ultimately your budget is the deciding factor, so be realistic and factor in costs other than rent such as council tax, household bills, and general expenses. All our tenants are reference-checked to ensure rent payments can be consistently met. You will need to put aside a security deposit and one month’s rent in advance.

Fees

Since 1st June 2019, the only payments landlords or letting agents can charge are.

• Rent
• Refundable tenancy deposit that is no more than 5 weeks if the annual rent is less than £50,000 or 6 weeks where the annual rent is £50,000 and above
• Refundable holding deposit capped at 1 weeks rent
• Payments associated with early termination of tenancy requested by the tenant
• Variation, assignment, or novation of a tenancy capped at £50 (or reasonably incurred costs if higher)
• Payments in respect of utilities, communication services, TV license, and Council Tax
• Default fee for late payment of rent
• Lost key/security device

Rental Property Viewing

Property Viewing Check List from Propertymark

Living in your rented home

As a tenant, you must

• Pay the rent on time
• Pay bills you are responsible for
• Look after the property
• Be considerate to the neighbors
• Not take in a lodger or sub-let

As a tenant, you should

• Ensure you know how to operate the boiler, know where the stopcock, fuse box, and meters are located
• Test your smoke alarms and carbon monoxide detectors at least once a month
• Report any need for repairs, ideally in writing. Failure to report the need for repairs could be a breach of the tenancy agreement
• Consider obtaining insurance for your contents and belongings

How to handle issues during the tenancy

Most problems can be handled easily by speaking/writing to us.

If our service is in question and we have not resolved your complaint you can complain to the independent redress scheme. All letting agents are required to be a member of a government-approved redress scheme.

There are situations where you may wish to leave the property during the fixed term tenancy or quicker than the terms of the tenancy agreement it is always advisable to discuss this with us as the landlord could agree to end the tenancy early, we will also put this in writing and follow the procedure for check out.

We always recommend contacting us if you are having financial problems, we will be able to speak to the landlord regarding your difficulties and some landlords are helpful and sympathetic. You can also contact citizens' advice and other bodies for free and confidential advice.

At the end of your fixed period

• You can sign up for a new fixed-term if not you will be on a ‘rolling periodic tenancy’ (the tenancy agreement will state how much notice you must give the landlord if you want to leave the property)
• The landlord might want to increase the rent
• If the landlord wants to end the tenancy, they must give you notice in the prescribed format
• If you want to end the tenancy you must
  • Give notice as per tenancy agreement
    
  • Ensure rent payments are up to date
    
  • Ensure all bills are paid as failure to do so might impact your references and credit rating
    
  • Clear up, and ensure all your possessions and all rubbish is removed. Try to leave the property in the same condition that you first checked in; you should have a copy of your check-in inventory
    
  • Return all sets of keys that were provided, if you don’t landlord can charge you for changing locks
    
  • Try and be present at the checkout inspection to check if costs need to be deducted to cover the damage. If you do not agree to the proposed deductions, you can contact the relevant deposit protection scheme. 

 If you have any questions feel free to contact us using the form below.

Renting Your Property to Students: A Lucrative Opportunity

At Elite International Real Estate Ltd, we understand the unique demands and opportunities that come with renting properties to students. With our expertise and personalized approach, we help landlords maximize their rental income and ensure a seamless experience when renting their properties to students in partnership with Elite International Real Estate Ltd.

Why Choose Elite International Real Estate Ltd?

Expertise in Student Rentals

With years of experience in the London rental market, Elite International Real Estate Ltd has established itself as a trusted partner for landlords seeking to rent their properties to students. Our team of real estate professionals understands the specific needs and preferences of student tenants and can tailor our services to maximize the appeal and profitability of your rental property.

Extensive Network and Marketing Reach

As a premier real estate agency, Elite International Real Estate Ltd has an extensive network of contacts and a robust marketing reach that ensures your property receives maximum exposure to potential student tenants. From online listings and social media promotion to targeted advertising campaigns, we leverage the latest marketing strategies to attract qualified student tenants to your property.

Comprehensive Property Management Services

At Elite International Real Estate Ltd, we offer comprehensive property management services to streamline the rental process for landlords. From property inspections and maintenance coordination to rent collection and tenant communication, our dedicated team handles all aspects of property management, allowing you to enjoy passive rental income without the hassle of day-to-day operations.

Compliance and Legal Support

Navigating the legal and regulatory requirements associated with renting properties to students can be complex. At Elite International Real Estate Ltd, we provide landlords with expert guidance and support to ensure compliance with all relevant laws and regulations. From drafting tenancy agreements to handling deposit protection and rent disputes, we prioritize legal compliance to protect your interests as a landlord.

Maximizing Rental Income

Our goal at Elite International Real Estate Ltd is to help landlords maximize their rental income while minimizing vacancies and rental arrears. Through strategic pricing, proactive marketing, and efficient property management, we strive to optimize the financial performance of your rental property and ensure a consistent stream of rental income.

Get Started with Elite International Real Estate Ltd

If you're a landlord looking to rent your property to students in London, partner with Elite International Real Estate Ltd for a seamless and rewarding experience. Contact us today to learn more about our services and how we can help you unlock the full potential of your rental property. With Elite International Real Estate Ltd, renting your property to students has never been easier or more profitable.