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Estate Agents & Lettings Huddersfield

Huddersfield Landlord Guide

For some in the UK, becoming a landlord is an ideal way to supplement their income. For others, it’s the perfect way to boost their pension in an age when very often, pensions aren’t delivering.

There are many reasons for becoming a landlord. Perhaps you’re looking for a simple low risk way of supplementing your income. It could even be that you’re looking to buy multiple properties and buy-to-lets will be your full-time job.

Regardless of your reason for becoming a landlord, there’s a reason this form of investment has increased in popularity, with the fall in interest rates, and many people’s experiences in the stock market over the last ten years, it makes sense.

And as is always the case with investments, there are legal requirements, and documents that must be completed accurately. But have no fear, the team at Hunters Huddersfield have put together this handy guide to ensure that the process is as simple and straight forward as possible.

Tenancy Agreement

For anyone planning on letting out a property, the tenancy agreement is a must. This document will lay out the terms and conditions of the let and is a legally binding contract written up to protect both parties.

There are different types of tenancy agreement, but more often than not the one you’ll utilise will be the Assured Shorthold Tenancy Agreement (AST). Enclosed in this document will be the rights of both parties including length of let, date of commencement, the amount payable and on what dates.

While the name of the document does suggest a limited period of tenancy, the reality is that there is no limit to how long the agreement is for. However, should you wish to form an agreement that lasts longer than three years, you will need to employ the services of a solicitor to draw up the relevant legal agreement.

With regards to a minimum letting period, this must be no less than six months, with the landlord being required to give no less than two months’ notice should they require the tenant to vacate the premises.  

The most significant information that the AST will contain comprises of the following:

  • Landlord’s full name

  • Tenant’s full name

  • Address of property

  • The date when the tenancy will commence

  • The duration of the tenancy

  • The amount of rent payable, including details of how and when it should be paid

  • Any other payments are expected of the tenant, including utilities bills and Council Tax

Landlord Inventory

Another very important document when letting out a property is the landlord inventory. This document will include the contents of both the property and its  contents. While important for all landlords, this is especially important if you are letting the property fully furnished or with anything expensive or fragile.

Again, both parties will be required to carefully inspect the property and to then sign this document. It is then the expectation and duty of the tenant to leave the property in the condition in which they inherited it at the end of the agreement, minus normal wear and tear of course.

Deposits

It is customary for the landlord of a property to request a deposit from new tenants. This deposit is often around 4-6 weeks rent and is there for the express protection of the landlord. While very often there is no reason to keep the deposit, on occasions it may be that the tenant will owe money at the end of the tenancy, or that there may be costs involved in repairs or cleaning, costs that do not come under general wear and tear.

On receiving a deposit, it is the landlord’s responsibility to provide a receipt as well as a written document specifying what the deposit is for. In the unlikely event that you do need to withhold any of the deposit, you must notify the tenant as quickly as possible detailing why you have had to take this action. This should contain any invoices for work carried out as well as estimates for work that is to be completed.

For further information on providing health and safety documentation see our Lettings Guide.

Property Prices in Huddersfield

Currently, the average value paid for properties in Huddersfield stands at around £160k

By property type, the approximate value of Huddersfield houses break down as follows:

Detached

£273k

Semi-detached

£151k

Terraced

£115k

 

Contact us

Hunters Huddersfield
44 John William St,
Huddersfield,
West Yorkshire,
HD1 1ER
Sales: 01484 513777
Email: [email protected]

Contact Hunters Huddersfield





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