Letting Information

We provide a comprehensive and customer focused level of service, offering advice on the expected market rent, property presentation and Landlord’s obligations such as health & safety legislation and insurance. 

Priory offer a full range of property services, from simply finding you a suitable tenant through to a comprehensive management service, which means all you have to do is enjoy your monthly income.

We offer 2 levels of service, whether you are a first time Landlord, larger investor or just wish to let your home for a short period of time we are able to offer advice tailored to individual client’s needs.

Introduction Only Service

	Provide a rental valuation
	Advise on Landlords obligations in respect of various safety regulations
	Advertise in local press & via our website
	Take internal photos (if appropriate) and order a to let board (if required)
	Take an initial holding deposit (application fee) from tenants – non refundable if tenant proves unsuitable or withdraws
	Carry out full reference and credit checks
	Preparation of Tenancy agreement and other statutory documentation
	Collection of 1st months & deposit

Full Management Service

This comprehensive service assists those looking for a stress free letting, in addition to the aforementioned letting features it also includes:
	Collection of monthly rents and payment to Landlords less any deductions
	Settlement of any utility accounts or other final accounts if required
	Preparation of regular statements detailing income
	Carrying out regular photographic inspections to ensure that your property remains in good condition
	Being 1st point of contact for the tenants
	Arranging for repairs if required
	Serving notices of possession
	Checking the property at the end of the tenancy to ensure that the property is left in good order
	Taking of meter readings at the end of the tenancy

Upon Deciding To Rent Your Property With Priory

	Apply for mortgage lenders consent
	Obtain gas and electrical appliances safety certificates
	Ensure the property is unfurnished (remove all furniture and personal items)
	Notify your insurance company
	Make sure the property is in clean and tidy condition
	Apply for tax exemption certificates (overseas landlords only)
	Ensure you have 3 sets of keys to give the Priory team – 2 sets for a let only
	By law instruction manuals or information leaflets must be left at the property for all appliances including the central heating boiler, thermostatic controls etc – alternatively clear hand written or typed instructions will be required
	You will need to arrange through ‘Priory’ an EPC when deciding to rent your property.

Gas & Electrical Safety

This gas safety (installation and use) regulations 1994 states that all let and managed property must be annually tested for safety.  Failure to comply with these regulations can result in a substantial fine or even, in the worst-case imprisonment.  Priory Letting Services uses only fully qualified contractors to carry out both gas and electrical safety tests.

The electrical equipment (safety) regulations 1994 states that supplying unsafe electrical goods is an offence.  When an unsafe appliance is found in rented accommodation, Trading Standards check that the landlord or agent has taken all reasonable precautions to avoid supplying an unsafe item.  Duty of care demands that an electrical safety test is carried out on a regular basis, particularly at the point at which the property first becomes available to let.

Overseas Landlords Information

Overseas landlords who live abroad are regarded as non-UK residents and for tax purposes you need to apply to the Inland Revenue for non-resident landlord status.

A landlord that has already been approved to receive rents without deduction of tax from the Inland Revenue must contact the Inland Revenue and request that an NRL8 (approval notice) be issued to Priory Letting Services.

Priory Letting Services  61 High Street,  Biddulph,  Staffordshire,  ST8 6AD

The non-resident landlords scheme requires UK letting agents to deduct basic rate tax from any rent they collect for non-resident landlords.  Letting agents do not have to deduct tax if the Inland Revenue tells them not to.  The Inland Revenue will tell an agent not to deduct tax if non-resident landlords have successfully applied for approval to receive rents with no tax deducted.  Even though the rent may be paid with no tax deducted, it remains liable to UK tax therefore non resident landlords must include it in any tax return that Inland Revenue sends them.

Tenancy Deposit Scheme

This legislation came into effect on 6th April 2007.  All deposits taken for assured shorthold tenancies will have to be covered by a tenancy deposit protection scheme.

Please see http://www.direct.gov.uk/en/TenancyDeposit/index.htm For more info