If you are a landlord or thinking of becoming a landlord, managing your property well is vitally important. It is a valuable asset for you and needs to be cared for and looked after.

At Homelink Property Management we know what landlords want from property management because we are first and foremost landlords ourselves for over 20 years.

Property can be a fantastic asset for you, it can change your life and give you the choice of whether to work or how long to work, it can be a legacy you pass down to your children to secure their future, but it can also be a nightmare if you do not manage it well.

At Homelink Property Management we aim to help landlords get the most out of their properties, to keep landlords on the right side of the ever changing legislation on renting property, so that their tenants are safe and they sleep well at night.

There are many questions you might have and we have tried to answer the most common ones below. If there is a question that is not answered then do contact the team.

Click on the headings for more information.

Finding the right property

If you haven’t got a property or if you are looking to buy another rental property then we can help guide you on what to buy and where. As investors ourselves we are experienced in selecting good investment properties.

As well as helping you understand what you want to buy, and what you can afford, we can also offer you source you properties to buy.

If you want to discuss finding the right property further with us and ways in which we can help, then Contact us to arrange a call.

What kind of property should I buy?

This very much depends on you, we can work with you to understand the kinds of property you might be interested in, show you the options and the investments we have helped people with. You can then decide what you would like us to help you find.

Contact us to discuss this further.

Rental Value

Rental value is not an exact science, at the end of the day the rental value of your property will be in a certain range. We will use our local knowledge and access to market data to give you a realistic valuation range of the rental value you will likely achieve.

We will also review your rent as time goes by to make sure the rent is kept up to date with current market conditions, and agree with you if increases are applied just on new tenancies or during existing ones.

How can Homelink Property Management
help manage my property?

Letting property these days is a complex task, with lots of legislation to comply with. Getting your compliance wrong can be very costly and stressful. Councils are increasingly active in going after landlords who do not stay compliant and tenants are increasingly aware when a landlord misses a legal requirement.

But this is our bread and butter at Homelink Property Management. Our Fully Managed service keeps you fully compliant so that your tenants stay safe, you sleep well at night and your property is managed in a hassle-free way.

What do I still need to do?

Not too much really. If you have a mortgage on the property, it will need to be a buy to let mortgage or you will need consent to let from your mortgage company. You will need all the relevant safety certificates and check in place, but we can help you arrange any that you do not have.

Once we are managing the property you will need to ensure you have landlord’s buildings insurance (including public liability cover) and approve any works required to maintain the property, heating and plumbing installations, and deal with routine repairs, Apart from that you can get on with your life, enjoy your rental income in the knowledge that we have everything sorted for you.

When do I get paid my rent?

We normally make sure rents are paid to landlords on or shortly after the 10th of the month. Rents are paid out, minus any costs and the management fees, and a full landlord statement provided.

Legal Requirements

This is changing on a regular basis, but at a minimum you will need to have an Energy Performance Certificate (EPC - lasts for 10 years), an Electrical Inspection Condition Report (EICR - lasts for 5 years), a Gas Safety Certificate if you have a gas supply to the property (lasts for 12 months), smoke detectors on each level of the property, a Legionella Risk Assessment (to be reviewed periodically) and a Housing Health and Safety Rating System (HHSRS) assessment (reviewed on inspection).

If your property is a HMO (shared house) you will almost definitely require more robust fire and smoke alarm provisions and you may need a HMO License.

All landlords and agents are also required to be registered with Rent Smart Wales if letting property in Wales. If you use an agent to manage the property then it is easier for you as all you need to do is to register yourself and your properties, and indicate that an agent is managing them for you. If you manage the property yourself, then you will need to apply for a license from Rent Smart Wales.

This may sound like a lot, and it is, but at Homelink Property Management we arrange these certificates and assessments on your behalf with trusted specialist contractors.

What protections do I have as the landlord?

e let your property using an Assured Shorthold Tenancy under the Housing Act 1988, and use a template from the National Residential Landlords Association. This ensures that our tenancy agreements are fully compliant with the law and afford you every protection in law possible.

There are legal changes coming from 15 July 2022 and ASTs will be changing to Occupation Contracts in Wales. Again the NRLA has developed a template contract for this, which will be used by Homelink Property Management.

How do you find the right tenant?

We start out by working with you to understand what kind of tenant you are happy to accept in the property. We will present the applicants that we think are the best fit for this to you, letting you choose which one you would prefer and making our recommendation to you also. We will not always recommend the applicant willing to pay the most rent, but will recommend the one we think will be the most likely to look after your property and has the more stable income.

Once selected, we will fully reference applicants using a professional referencing service. When the results of this referencing are in we will make sure you are still happy to proceed with them before agreeing the tenancy.

Inspections

Inspections are an important part of managing your property well, and help identify potential problems early. We conduct an inspection after the tenants have been in the property for 3 months, and then every 6 months. You receive a written report from each inspection, with photos.

Maintenance

We have a system for online reporting of all maintenance issues. We make sure that we deal with issues quickly, so that we keep tenants happy and also make sure your property is kept in good condition. Our contractors have been working with us for many years and have been chosen for their quality of work but also because they charge reasonable fees for their work.

What if my tenant stops paying rent?

Unfortunately financial difficulties can happen to anyone, and this can lead to tenants falling behind on their rent. The most important thing is to talk to the tenant about the situation and try and agree a plan to repay the arrears.

If this is not possible and the tenant cannot afford to pay the rent moving forward we would try to negotiate the tenant out of the property, again with some sort of plan to repay the arrears if the deposit did not cover it.

In extreme situations it may be necessary to serve eviction proceedings against the tenant and this is a process that Homelink Property Management can manage for you.

Landlords living abroad

If you are not resident in the UK for tax purposes then we would need to withhold tax from the rent and pay this over to HMRC, unless HMRC agree you can do self assessments to pay the tax.

Guide to Letting

If you are not sure about becoming a landlord, or perhaps you are already one and would like to know our process, have a look at our Guide to Letting.

Guide to Letting

Get a Free Valuation

Want to know how much rent you can get for your property ? Arrange a free, no obligation valuation of your home at a time to suit you.

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Get in Touch

If you would like to discuss your property related enquiries, or have questions, then get in touch with our team who will be happy to help you.

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