Newcastle - Landlord FAQ's

There are many advantages to you as a landlord for using a managing agent to look after your property. Apart from peace of mind that your investment is in safe hands and that you do not have to keep up to date with the changing legislation or become involved with other issues such as out-of-hours emergency maintenance work.

If you are on our Guaranteed Rent Scheme you will get a payment date, we will pay you your rent each month without fail.

If you choose our Fully Managed Service or Rent Collection Service, the tenant is to pay the rent direct to us on the due date.  We will then transfer the money to your nominated bank account minus our commission and any deductions for maintenance work etc. You will also receive a statement every month by email together with copies of invoices paid.

Whilst we endeavour to ensure that the rent is paid on time sometimes this does not happen and if the tenant does fall into arrears, we will advise you on the appropriate course of action.

Yes. Your mortgage lender needs to give you permission before you can let your property, and they may impose special conditions.

We will complete a full and free valuation of your property taking into account local rental market conditions. We then combine this with our extensive experience to give you an estimate of the potential monthly rental value.

A fees guide is available on our website for our Fully managed, Rent collection or Tenant find service however for our Guaranteed rent scheme we would need to come out and provide a fee rental appraisal.

5 weeks rent is now the maximum deposit that can be taken. It is held during the tenancy against the satisfactory performance by the tenant of their obligations under the tenancy agreement.  All landlords and letting agents are required to register tenants’ deposits with an approved tenancy deposit scheme and Northwood registers deposits with the Deposit Protection Scheme (DPS).

An inventory is a detailed list of the contents and condition of your property taken before the tenant moves in and should be updated before the beginning on each new tenancy. The inventory is an important document because if there is a dispute over damage at the end of the tenancy, you have proof of the original condition of the property and its contents.  Ask to see a sample of our Inventory to understand the detail contained therein which is designed to protect you the landlord. How does it compare with others?

Either the tenant pays to fix the damage or repair costs are recovered from the tenant’s deposit at the end of the tenancy taking into account any fair wear and tear whilst in occupation.  A quarterly inspection service is part of our Fully Managed Service noting any changes, informing the landlord and instructing the tenant to make good if required. On our Guaranteed Rent Scheme Northwood will protect you against tenant damage up to 1 ½ Month’s rent.

With our Guaranteed Rent and Fully Managed Service, we will liaise with the tenant, coordinating any necessary works.

All landlords could be liable to pay tax on their rental income, whether they live in the UK or are based overseas. Further information can be found on the Inland Revenue’s website or consult with a qualified accountant.

The tenant is responsible for the council tax (unless you decide to include this in the rent) but this needs to be clearly stated in the tenancy agreement. If the property becomes vacant then the responsibility falls back to the Landlord. Please note that unless the tenant is in a fixed term agreement if the tenant moves out without notice the landlord will be held responsible.

The law around ending a tenancy is relatively straightforward as long as the right timescales and procedures are followed, along with the use of the correct format of notice.

There are only limited ways in which this can happen; the landlord cannot make the tenants move out, nor can the tenants lawfully walk away from their obligations to fulfil the contract. It is possible to request a formal “surrender” of the tenancy but it’s up to both parties to agree the terms which might include some financial compensation for inconvenience, or costs incurred.

This is common, and Northwood will normally negotiate between both parties and prepare the necessary documentation for the tenancy extension.

For Guaranteed Rent and Fully Managed properties we will inform the suppliers for gas, water and electric that the new tenant has moved in and has responsibility for them. That is unless the utilities are included in the rent. We will also inform the local Council Tax department.