LETTING YOUR PROPERTY

ANSWERING YOUR QUESTIONS

Being a landlord can be stressful. But it doesn’t have to be. At Next Step Estates we are here to alleviate those worries that keep you awake at night. Here are the answers to some questions we often get asked:

1. If I have a consultation with you, will I be tied into a contract?
   Absolutely not! A consultation is an opportunity to get an appraisal (valuation) from us and get to know us and what we can offer you. There are no strings attached.

2. What if you don’t manage to let my property?
   You will not incur any costs if we do not let your property. No let, no fee.

3. If I instruct Next Step Estates for “tenant finding” only, will I be charged an ongoing commission?
   No. With our tenant finding service our work is done when your tenant moves in. There will be no further charges after this point.

4. How long will it take to rent my property?
   It takes an average of about 10 days to let a property from initial launch. Some sought after properties, or properties in sought after areas, are let withing a matter of hours! Some properties can take longer to let. If your property is taking longer to let than you’d hoped we will always be honest with you as to why. We might even be able to predict this prior to launch and manage your expectations accordingly.

5. Will I have to conduct my own viewings?
   No. This is very much part of our service and includes contacting existing tenants to let them know a viewing is taking place. 

6. Do you reference all tenants?
   We always reference tenants.

7. Why would I instruct Next Step over a cheaper online agency?
   Many online agencies require payment upfront. This means that if they are unable to let your property you have lost your upfront investment. Next Step operates a no let, no fee policy. This also means that we are incentivised to work really hard for you and get the best rent possible.

8. Do you have a ring-fenced client account?
   Yes. We are also members of Client Money Protect.

9. What happens to my tenant’s deposit?
   The deposit is registered with an approved Tenancy Deposit Scheme. See our section on tenancy deposits for more information.

10. Why should I have an inventory?
    This is a detailed list of the contents and condition of your property and is taken before the tenant moves in. It is important that you have this evidence if there is a dispute at the end of the tenancy.

11. What is an EPC and why do I need one?
    This is an Energy Performance Certificate, detailing the energy efficiency of your property and typical costs spent on energy. Since 2018 all landlords are required to have a minimum rating of E on their property’s EPC. If a property is let with anything less than this (F or G) the landlord could be fined up to £4,000.

12. What are my obligations around gas and why should I get my electrical appliances tested?
    All of this information and more can be found in our section on certificates required to let.

13. Do I need to tell my mortgage lender if I want to rent my property?
    Yes. Your lender needs to give you permission.

14. Do I need to pay tax on my rental income?
    All landlords are liable to pay tax on their rental income. More information on this can be found on the HMRC website.

15. What if my tenant doesn’t pay the rent?
    It is a good idea to insure yourself against non payment of rent. Depending on the services we are providing you we will also be able to help and advise you on this if it should unfortunately happen.