PWR Property Consultants offer a wide range of Acquisition, Letting and Management services that can be tailored to meet your individual needs whether you are a private landlord, an investment landlord or a corporate property company.
We can tailor our service to your requirements, and have three basic packages:
· Marketing, advertising and conducting accompanied viewings
· Tenant selection, introduction and referencing
· Transfer of rents
· Preparation of the tenancy agreement
· Preparation of the inventory and schedule of condition
· Arranging routine repairs and maintenance
· Regular property visits and reports (optional)
· Payment of property related outgoings
· Notifying utilities at the beginning and end of tenancy
· (Optional) - Rental Protection and Legal Expenses indemnity insurance
· Tax Advice
· Marketing, advertising and conducting accompanied viewings
· Tenant selection, introduction and referencing
· Transfer of rents
· Preparation of the tenancy agreement
· (Optional) - Preparation of the inventory and schedule of condition
· (Optional) - Rental Protection and Legal Expenses indemnity insurance
· Tax Advice
· Marketing, advertising and conducting viewings at the property
· Tenant selection, introduction and referencing
· (Optional) - Preparation of the tenancy agreement
· Managing the commencement of your Let and any subsequent extensions
· (Optional) - Preparation of an inventory and schedule of condition
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If you would like PWR Property Consultants to provide you with a free, no obligation market appraisal please call our office on 01623 659 111, or contact us here.
Our accounting fully complies with the Royal Institute of Chartered Surveyors (RICS) bylaws and regulations. In order to achieve this we undertake to have an independent audit carried out annually.
We know it is important for our clients to receive all rental payments as quickly as possible. In order to avoid delay we make payments directly into the landlord's bank (where requested). We endeavour to arrange for this within 7 working days of receiving cleared funds, however this is often achieved much quicker.
The above regulations were amended in 1993 and set new levels of fire resistance for domestic upholstered furniture and furnishings. It is an offence to 'supply' in the course of business any furniture that does not comply with the regulations. This includes supplying furniture as part of a residential property to be let.
The regulations apply to; sofas, beds, bed-heads, children's' furniture, garden furniture suitable for use in a dwelling, scatter cushions and pillows, stretch or loose covers for furniture or other similar items. The regulations do not apply to: curtains, carpets, bedclothes (including duvets and mattress covers)
Any furniture manufactured after March 1990 is likely to comply, but if the appropriate labels are not on the furniture, compliance is in doubt and checks should be made with the manufacturer.
These regulations first came into effect on 31st October 1994 to ensure that gas appliances are properly installed and maintained in a safe condition to avoid the risks of carbon monoxide poisoning. It is the responsibility of landlords to ensure that ALL gas appliances and gas installation pipe work owned by them are checked for safety at least once a year by British Gas or a member of the Council for Registered Gas Installers (CORGI). In addition accurate records of the safety inspections and any work carried out must be kept. The current safety certificate must always be available for any tenant prior to taking occupation of a property.
Faulty equipment can lead to death and a conviction of unlawful killing on a landlord. Under the regulations any appliance that does not conform can be disconnected.
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The above regulations impose an obligation on a landlord to ensure that all electrical appliances left as part of a let property are safe. Cabling, fuses and plugs should also be inspected and replaced where necessary to the correct rating for that particular appliance.
Other legislation covering electrical installations is currently in force and we strongly recommend that all appliances are regularly checked and serviced.
The 1991 Building Regulations require that all properties built since June 1992 must be fitted with mains operated interlinked smoke detectors/alarms on each floor. Such regulations regarding older properties do not exist but we strongly recommend that smoke alarms are fitted in all let properties and are regularly checked to ensure they are in full working order.
If you have a mortgage you must obtain consent from your mortgage lender. If your interest in the property is leasehold your lease may require you to obtain consent from your landlord prior to sub letting.
It is essential that you notify your insurance company so they may advise you of any additional cover that may be necessary. PWR Property Consultants offer a comprehensive insurance policy, for more details and to obtain an instant quotation click here.
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It is a requirement for landlords to sign their own tenancy agreement. Therefore it is important that we are given clear instructions regarding the length of time the property will be available and that we have a contact address, telephone and fax number (and e-mail address if possible) in order that the document may be forwarded for signature prior to any tenancy commencing.
Whilst we take every precaution to ensure that your interests are fully protected through vetting prospective tenants, even the most exemplary individual may be unable to pay the rent, due to unforeseen circumstances such as redundancy or illness. Click here for further details.
The household insurance policy provided by PWR is specifically designed for the residential lettings marketplace. Cover is available for either buildings or contents, or both sections of cover can be included in one policy document. The policy is acceptable to all leading building societies and banks. Click here for further details and an instant quote
PWR Property Consultants have arranged these exclusive insurance policies with HomeLet.
Income tax is payable on rental income irrespective of where you live. Landlords must declare this income on a Self-Assessment Tax Return and if one is not issued automatically he or she has a legal responsibility to notify the Inland Revenue of any liability. As the Inland Revenue assesses your income individually, properties that are jointly owned require returns to be completed by each legal owner. There is a requirement under Self-Assessment to keep adequate records to ensure that the calculations included in the return are accurate.
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Through careful planning you may be able to reduce your liability. Examples of deductible expenses that could be used to reduce profit derived from property income include the following: -
· Insurance, ground rent, repairs & maintenance
· 'Wear & tear' allowance for furnished properties
· Legal and accountancy charges
· Letting agents fees
· Mortgage interest
· Unused 'personal allowances' (applied by the Inland Revenue)
Non-Resident Landlords (Landlords whose usual place of abode is outside the UK)
PWR Property Consultants as the agent receiving rent, has a statutory obligation to deduct basic rate tax on the net income and make payments to the Inland Revenue quarterly. However, you can apply to the Inland Revenue to "self-assess" your own tax. To take advantage of this we can provide an application form, which upon approval from the Revenue will authorise us to pay the rent to you without deducting tax at source.
· Provision of the necessary information and application forms regarding the Non-Resident landlord scheme.
· For overseas landlords that have not applied / received "approval" PWR Property Consultants must account to the Inland Revenue on a quarterly basis.
· A certificate will be issued to you by the 5th July as evidence if any tax has been paid to the Inland Revenue on your behalf.
· PWR Property Consultants are obliged to provide an annual return of information to the Inland Revenue for all non-resident landlords.
· Annual Tax Report - a summary of income and expenditure transactions accounted for by PWR Property Consultants can be provided.
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PWR Property Consultants Ltd, 'The Old Post Office', 275 Eakring Road,
Mansfield,
Nottinghamshire,
NG18 3ED