27 Shirwell Crescent, Furzton Lake, Milton Keynes MK4 1GA
T :: 01908 236236  F :: 01908 765699  E :: info@lanesmk.co.uk

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Landlords Advice - FAQ

what happens when I move out?

It couldn't be easier. Lanes will take the headache out of moving. From this moment we will take responsibility, arranging for the meters to be read to make certain you don't pay for any services you are not using. It will be your responsibility as landlord to inform the telephone company of intended moving date and forward you post. A detailed inventory and schedule of the condition of your property will be prepared supported by interior photographs, to protect you against any possible future disagreements.

And, should it be necessary to have your property professionally cleaned, Lanes can help advise of the best services available locally and arrange the details.
how thoroughly is my tenant's suitability checked? For financial peace of mind, once a tenant has been identified, the vetting process begins. Lanes will carry out a thorough tenant referencing and credit check, and bank references will be obtained where necessary. You can be re-assured in the knowledge that no prospective tenant will be able to sign a tenancy agreement prior to all references checking out. For extra peace of mind you can also choose a rent guarantee policy to cover the event of non-payment of rent.

what happens when the tenant moves in?

Meter readings are sent, the inventory and schedule of condition is signed by the incoming tenants, and a deposit of up to six week's rent is taken. This will be held by Lanes as insurance against non-payment or loss or damaged to the property & registered with the Tenant Deposit Scheme (TDS).

who will be responsible for the bills?

Obviously as landlord you will have to ensure that your property is covered by a good insurance policy. Apart from that, you won't have to worry about a thing! The tenant will be responsible for the telephone, all utility bills and rates. When will my rent be paid? The first payment will be made by standing order to Lanes on the first or 15th of the month, and thereafter by standing order at the same time every month. Funds will be forwarded to you within 14 days of receipt, and you will receive clear monthly statements illustrating how much and when monies have been paid. What's more, you can request a statement from Lanes at any time, which will be sent to you at the touch of a button.

who will look after and maintain my property?

To be certain that your property is being properly cared for, we will regularly inspect your property throughout the tenancy period. Should emergency maintenance work be required, such as plumbing, windows or flood damage, Lanes will arrange for the work to be completed quickly and cost-effectively. Where possible we will seek your consent and submit estimates for your approval & many of our landlords agree to a maximum float – usually £100 – that we may use with our discretion to ensure a quick fix to a maintenance problem. You can also discuss your individual requirements directly with our Maintenance division, Grayster Maintenance and for any landlords not registered with Lanes they offer an unrivalled service and price and you can contact them directly via email maintenance@lanesmk.co.uk

how do I get my property back?

The initial tenancy agreement may be for six or twelve months, or longer. Once this period has lapsed, two month's notice for tenants to quit must be given in writing to the letting agent. Once vacant, Lanes will inspect your property, and use any security deposit required to ensure that possession is return to you in the same condition as when the tenancy commenced, subject to the terms of the Tenant Deposit Scheme (TDS).

can the rent be guaranteed?

Yes it can! Lanes recommends that landlords take out a specialised insurance policy that protects against unexpected rent voids. For example, your tenant may become ill, lose his job or be made redundant. Additionally, the policy will cover you for any legal expenses incurred should you need to regain possession of your property at any time and any incurred ‘void’ periods, subject to terms & conditons!

will renting my property mean increased income tax?

Possibly, although many expenses incurred letting your property can be off-set against your income tax. It needn't be complicated. Lanes will be able to recommend a well-known firm of accountants who have particular experience offering advice to owners who let their properties temporarily or permanently. They will also be able to deal with the Inland Revenue, or offer help completing tax returns etc.

HELPFUL HINTS – Little things that matter!

furnished or unfurnished

It doesn't really matter! There is a lot of demand for both, and consequently there is little difference in the rent that can be achieved. If, however, you are able to leave a fridge, cooker and washing machine this can make letting your property easier.

decoration

Good, clean, neutral décor is a definite advantage. A fresh coat of paint can make all the difference to renting your property and ease of maintenance. But remember - everyone's taste is different - neutral is best!

antiques

Your property may need to look its best, but please don't leave any expensive or sentimental furniture or effects - accidents can happen!

valuables

We would recommend that you remove any black goods such as television, video and stereo equipment - they are invariably contentious should they need repairs.

cleaning

It is always advisable to leave your property spotlessly clean, including carpets, curtains and sanitary ware. Professionally cleaned properties mean professional tenants, which in turn means higher standards.

appliances

All electrical appliances must be in good working order. Where possible, make available instruction booklets for central heating boilers, cookers, water softeners etc. to eliminate the need for frequent phone calls or visits.

guarantees

If any guarantees or extra insurances are applicable - please supply Lanes with copies.

gas and electricity regulations

Safety regulations that cover electrical equipment and gas installations are in place to protect both landlords and tenants. Make sure you are familiar with law. See the Safety Info page by clicking on the logo to the left.

fire regulations

The Fire and Furnishings Safety Regulations of 1988 make it an offence to supply furniture that does not meet certain safety standards. It is the landlord's responsibility to make sure that all legal requirements are being fulfilled. See the Safety Info page by clicking on the logo to the left.

smoke detectors

Smoke detectors save lives. A minimum of one smoke detector is recommended on each floor of your property. These must be in good working order, and supplied with new batteries.