Drivers & Norris lettings brochure proof 8

Residential lettings
A comprehensive guide

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About Drivers & Norris
Why let with Drivers & Norris?
Drivers & Norris is an independent Chartered Surveyors & Estate Agency that has
been advising landlords & home-owners in Holloway, and across North London since
1852.
Whether you are an investment landlord or an individual letting your home for the first
time, letting is a serious business.
We have built up a great contact list, not only
in the local area but also across London, along
with overseas networks including relocation
agencies, national and international companies.
Our dedicated on-site management service
responds to issues quickly and efficiently, with
no extra charge for necessary call-outs. We
try to work with local tradespeople and family
businesses to ensure good value and a reliable
service.
We offer competitive rates and, unlike many
agents, our fees are invoiced monthly rather
than for the whole term for both letting and
management and rent collection service – so
we only get paid when you do.
We specialise in selling and letting residential
property to a local, national and international
audience of buyers and tenants.
Over the past 160 years we have helped
thousands of tenants and landlords, many of
whom are ‘repeat customers,’ and we have
gained more business from recommendation
than from any other source.
Our values as a Company include putting
top quality customer service first, along with
maintaining our reputation as North London’s
oldest and leading independent agent.
Our Company’s employees are our greatest
asset with the experience, local knowledge,
expertise and enthusiasm to provide a service
tailored exactly to your needs.
When visiting your home they make sure they
understand your reasons for letting and will
try to provide the best support, advice and
customer care throughout the letting and
management process.

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Guide to residential lettings
Through careful planning, local knowledge & lettings expertise, we ensure our clients
a hassle-free experience from start to finish.
Buy to let : One of the safest investments
Residential property has proved to be an excellent investment over time. The value of
property has, on average, doubled every ten years over the last fifty years.
Careful planning is needed from the initial
marketing, to the time the tenants move in and
beyond. As a landlord, you need a professional
agent who will look after your interests and, at
the same time, make your life as hassle-free as
possible.
At Drivers & Norris, we use our knowledge,
expertise and experience to make sure that our
service meets your needs and gives you peace
of mind.
Your property is a major investment, so
it is important that you are aware of your
responsibilities as a landlord, as well as
knowing the best way to optimise your
investment.
This guide is designed to provide detailed
information about all aspects of letting a
property & also gives an insight into the level of
care we put into our service.
UK residential property is also among the
safest and best performing investments not
only providing an excellent income but also, for
many, a significant capital gain in the process.
Because there are short-term rises and falls in
property values, the residential market should
however always be viewed as a medium to
long-term investment.
Over recent years, changes in the housing
market have resulted in increased demand for
property in the private sector. The private rental
sector has changed and expanded, along with
standards of accommodation expected and the
breadth of participating landlords.
With increased competition, it is important
to consider the factors affecting successful
investment - such as the location and the type
of property, achievable rent levels, tenant
demand and expectations, maintenance costs
and potential capital growth.
Right from the initial meeting, the team at
Drivers & Norris will take time to guide you. Our
letting specialists will give honest and reliable
advice on potential opportunities, helping you
to achieve the most from your investment.
We will also explain the implications of the new
legislation that came into effect in 2016, along
with landlords’ responsibility to check tenants’
right to stay in the UK. Fire safety obligations
will also be covered.
Talking to a lettings professional is more
important than ever, so whether you are a firsttime
landlord or an experienced investor, our
experts are here to help.
Average London house prices 1995 - 2015
1995 - £100,000
2015 - £520,000

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Where to start
The first stage towards letting your property is to invite us to carry out an appraisal.
We provide this service free of charge and with no obligation.
Every property is different so, in assessing
rental value, we take into account
accommodation, condition, location and current
demand. Most importantly, we also have
knowledge of other similar rental properties and
historic information on rents achieved.
During the appraisal appointment we will advise
on things to do to maximise rental income and
improve the property’s desirability to potential
tenants.
Furnished or unfurnished?
One of the first decisions to be made is whether
to let your property furnished or unfurnished.
The advantages of letting unfurnished are:
• Usually there is greater demand
• Lower turnover of tenants
• Less wear and tear on your furnishings
• Lower maintenance and repair costs
Unfurnished lettings
Unfurnished lettings generally include the
following:
• Carpets or laminate flooring
• Curtains
• Light fittings
• Kitchen appliances (known as white goods),
which should be new or in good working
order, with instruction manuals
Furnished lettings
You may choose to let your property furnished
- often the preferred option for corporate or
overseas tenants. If so, you need to be aware of
the following:
• All soft furnishings including beds,
upholstered chairs and sofas, curtains
etc must comply with the Furniture and
Furnishings (Fire) (Safety) Regulations Act
1988. Any furniture manufactured before
1988 will generally not comply
• All bed linen, towels and anything of
monetary or sentimental value should ideally
be removed
• If an electrical appliance such as a kettle,
toaster, or washing machine breaks down,
it is the landlord’s responsibility to repair or
replace it
• It is the landlord’s responsibility to ensure
that electrical installations and appliances
are safe and in working order. It is
recommended that portable appliance
testing is carried out to confirm safety
Presentation and decoration
First impressions count – the best presented
properties let quicker and it is important to
ensure the property is well decorated, is fully
functioning and is professionally cleaned prior
to the start of the tenancy. Drivers & Norris
will advise on type of furnishings, fittings and
appliances required and whether redecoration
or other improvements are advisable.

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Attracting tenants
At Drivers & Norris we recognise that excellent presentation and maximum exposure
of our clients’ properties are essential to secure good tenants.
Effective marketing
As soon as Drivers & Norris are instructed, our
team begins the process of finding a suitable
tenant. Prospective tenants who are registered
on our extensive database are contacted
by phone, email or post. A set of particulars
including a description, photographs and a
location map will be distributed & be uploaded
on to key on-line property portals. A selection
of properties will also be included in our
window displays and featured regularly in the
local press to ensure continued enquiries. We
advertise pro-actively and will continue to do so
until a suitable tenant has been identified.
Internet marketing
The internet has become an essential tool in
the marketing of rental properties. Over 70%
of people moving home start off by using this
medium to search for a property. Prospective
tenants can view homes currently available
from wherever they are in the world, 24 hours
a day. Our property details are updated daily,
thereby accelerating the lettings process.
We receive hundreds of enquiries via our
website at www.drivers.co.uk
In addition we invest heavily in marketing
our properties on three of the nation’s largest
property websites:
rightmove.co.uk
zoopla.co.uk
primelocation.com
Selecting the right tenants
Drivers & Norris discusses in detail each landlord’s specific requirements and will find
the most suitable tenant for you.
In addition, Drivers & Norris
will negotiate any special
conditions that are required and
ensure that those conditions
are properly inserted into any
tenancy agreement. These
conditions may be specified by
the mortgage company.
References and financial
checks
We carry out strict referencing
procedures, using a specialist
independent referencing
company who demand the
highest standards in the
industry. This essential and
detailed process gives us
an understanding of tenants’
personal and financial
circumstances in addition
to previous agent/landlord/
accountant references.

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Setting up the tenancy
It is essential to have a comprehensive tenancy agreement and detailed inventory/
schedule of condition prior to each tenancy. We will arrange this on your behalf where
required.
The tenancy agreement
Drivers & Norris use their own approved
Tenancy Agreement which has been carefully
designed to protect the landlord’s rights to
possession, help control the tenant’s activities
and comply with standard mortgage lender
requirements. Tenancy agreements are normally
for an initial term of 12 months, however shorter
or longer-term tenancies can be negotiated
depending on the landlords’ circumstances.
The Housing Act 1988 specifies different types
of tenancy and, whilst there are several types,
it is almost certain that the tenancy of your
property will either be an ‘Assured Shorthold
Tenancy’ or a ‘Contractual Tenancy’.
Inventory/schedule of Condition
It is essential to have an inventory/schedule
of condition prior to each tenancy. We can
arrange this using local independent inventory
companies.
At the end of a tenancy the property is
inspected against the inventory and any
damage or deterioration to its condition is
noted. The tenant is responsible for the cost of
rectifying any damage, over and above what is
considered to be fair wear and tear, caused by
them at the property.
Legislation is now weighted heavily in a tenant’s
favour. It is therefore necessary to provide
properly prepared and accurate inventories/
schedules of condition to protect landlords’
interests.
The tenancy deposit scheme
As part of the Housing Act 2004 the
Government has introduced tenancy deposit
protection for all Assured Shorthold Tenancies
(AST) in England and Wales where a deposit
is taken. All deposits, paid under an AST,
now have to be registered with a government
approved scheme within 30 calendar days of
receipt.
Drivers & Norris are members of The Tenancy
Deposit Scheme, operated by The Dispute
Service, which provides an independent and
impartial method of resolving any differences
between landlords and tenants. At the end of a
tenancy the landlord and tenant should attempt
to agree the basis for repayment of the deposit.
If there is a dispute The Dispute Service
provides for the case to be dealt with by an
Independent Case Examiner. The examiner
is an impartial, qualified expert who will make
a decision and this helps avoid the need for
potentially protracted litigation. It is essential
that The Landlord puts up a good case and is
backed up by the Independent Inventory.
Mortgage lender requirements
If you have taken out a mortgage on the
property you are letting, you will need to get the
consent of your mortgage lender to let it out.
It is very unusual for them to refuse permission
but most will charge a small administration
fee for consenting. In turn, they may require
information on the type of tenancy agreement
you intend to use, the length of the tenancy,
along with serving certain notices on the tenant.
Mortgage lenders will probably also require
reassurance that a professional agent is being
instructed.
Rental payments and deposit
When the tenant signs the agreement Drivers
& Norris take the initial rental payment and the
security deposit. The amount of deposit varies
but it is generally the equivalent of 6-8 weeks
rent. It is important that funds are cleared
before the tenant is allowed to move in. At the
same time the tenants are asked to provide
written evidence from their bank that a standing
order has been activated. The deposit will then
be held in an approved and protected account.
Council tax and utility bills
In addition to the rent, tenants are responsible
for paying water charges, council tax, gas,
electricity and telephone bills.
Landlord’s obligations
These are clearly determined in Section 11 of
the Landlord and Tenant Act 1985. The landlord
will be responsible for maintaining the structure
and exterior of the property, heating and
plumbing installations and dealing with other
routine repairs. If the property is leasehold,
the landlord will be responsible for paying the
service charge and ground rent.
Tenant’s obligations
The tenant has a duty to take proper care of
the rented property and use it in a responsible
way, pay the rent and keep to the terms of
the tenancy agreement. If the tenants cause
damage to the property, they are responsible
for a contribution towards the cost of repair
providing it is not deemed fair wear and tear.
Buildings and contents insurance
Landlords should ensure that they have
adequate buildings and contents insurance
cover in place including all fixtures, fittings
and white goods (or plumbing and heating
installations). Tenants are responsible for
insuring their own contents and personal
belongings. We will make every effort, but
cannot guarantee to ensure, that a tenant takes
out personal contents insurance.*
* Please note that standard homeowner
insurance policies will not suffice once a
tenant is in residence as you are no longer the
owner occupier. It is also important to check
on cover periods when the property is empty.
We recommend that you check your policy
thoroughly.
Leasehold properties
If the property is leasehold, the lease will
specify whether or not it is necessary to obtain
permission to sublet from the Freeholder.
It is essential to clarify the situation before
marketing your property as some leases place
restrictions on the type of subletting that will be
approved.

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Service level options
Drivers & Norris offer three levels of service to accommodate the differing needs of our
clients: Letting Only Service Rent Collection Service Management Service
Letting only service
This service is suitable for experienced
landlords who wish to collect the rent and
manage their property themselves. This service
is only recommended for landlords who have
the necessary knowledge of the Housing
Act, the Gas, Electrical and Fire Regulations
and who have the necessary experience to
effectively manage their property.
The letting only service includes:
• Advising on the likely rental income
• Marketing the Property
• Conducting viewings with prospective
tenants
• Applying for appropriate references
• Negotiating the terms of the tenancy
between landlord and tenant and drawing
up the tenancy agreement
• Collecting the first month’s rent and security
deposit (the deposit must be held within an
approved scheme)
• Arranging an inventory and schedule of
condition prior to the commencement of the
tenancy if required
• Registering the deposit with The Tenancy
Deposit Scheme
Rent collection service
This service is available on the same basis as
our Letting Only Service but for landlords who
require the service of someone to collect rent,
chase arrears and pay bills. In this instance
our fees are payable as a percentage of rent
collected rather than as a single up front
payment.
Full management service
We offer a comprehensive management service
suitable for landlords who prefer not to have
the responsibility of dealing with day to day
issues. This service is strongly recommended
for overseas landlords, clients who are new to
letting a property or landlords who prefer not to
deal with day to day management.
In addition to the Letting and Rent Collection
Services, the Full Management Service
includes:
• Arranging an Energy Performance Certificate
(EPC) where required, a Periodic Inspection
Report for an Electrical Installation, and a
Portable Appliance Test (PAT)
• Arranging utility providers’ meter readings
and advising of the transfer of service
contracts to the tenant at the start of each
tenancy
• Arranging a Landlord’s Gas Safety
Inspection to be carried out annually during
the tenancy and for a Certificate to be
provided
• Carrying out interim visits to check on the
general condition of the property
• Coordinating repair or maintenance
including arranging for contractors to attend
the property, obtaining estimates where
necessary and settling accounts from rents
received

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Property management
It is essential that your property manager is experienced and knowledgeable about
property to ensure that money is not wasted on unnecessary repairs or outgoings and
the return on your investment is protected.
Property maintenance
Our property manager deals with any
maintenance issues on our fully managed
properties, and arranges essential repairs and
payments to contractors.
Our main concern is to ensure that the
property is maintained, on your behalf, in good
condition. We will also advise on improvements
that may be required.
Unless you have preferred contractors, Drivers
& Norris use contractors who have proven their
reliability and good workmanship. We have built
relationships with reliable contractors to ensure
prompt service at a reasonable cost.
Accounting
The accounts team at Drivers & Norris try to
ensure that rent is paid on the due date and
passed on to you as quickly as possible.
Statements of rental income and expenditure
are prepared every month to provide you with
full information for yourself and your tax advisor.
The tenant pays rent directly to Drivers & Norris
and commission is collected on the basis
agreed in the tenancy agreement.
Interim inspections
Drivers & Norris carry out regular routine visits
to the property during the term of the tenancy. If
we are providing a full management service, we
will send reports to you.
Extending or terminating the tenancy
Many tenants extend their tenancy on an
annual basis. Drivers & Norris will negotiate a
rental increase on the landlord’s behalf (when
applicable) and draw up an Addendum for the
new term. If notice is not served on the tenant,
the tenancy automatically continues on a
statutory periodic basis.
Taxation of rental income
Overseas landlords are responsible for obtaining their own exemption certificate and
the appropriate forms should be submitted as early as possible as they take several
weeks to process.
UK resident landlords
If you are a landlord resident in the UK, your net
income from your investment property is subject
to income tax. The level of tax depends on your
other income. If you are already a higher rate
taxpayer, tax will be payable at the higher rate.
The normal method of reporting your taxable
assets to the Inland Revenue is a Self-
Assessment Tax Return form. We strongly
advise that you take independent advice from a
tax specialist.
Non-resident landlords
The Non-Resident Landlord (NRL) scheme is for
taxing the UK rental income of persons whose
“usual place of abode” is outside the UK. If you
are treated as a “non-resident landlord” you still
have to pay UK income tax on rental income
from your UK property.
Unless a landlord can provide Drivers & Norris
with a current Inland Revenue Exemption
Certificate, the law requires us to deduct basic
rate tax from rents received and for us to
account to the Inland Revenue on a quarterly
basis. Any landlord named on the tenancy
agreement, when living overseas, requires a
separate Exemption Certificate. Drivers & Norris
are registered with the Non- Resident Landlord
Scheme and know the requirements of the
scheme.
For both UK and Non-Resident Landlords,
Drivers & Norris are obliged to inform HMRC of
the gross rental received. Details on taxation
are correct at the time of printing. Further
information for non resident landlords and
exemption application forms are available at
Drivers & Norris offices or The Inland Revenue,
St John’s House, Unit 406, Merton Road,
Liverpool L75 1BB.
www.hmrc.gov.uk
Tel: 0151 472 6208

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Safety regulations
The following information is intended only as a guide for landlords and should not
constitute a detailed interpretation of the complete regulations.
Whilst the Regulations might appear onerous,
they are designed to ensure the safety of the
property and its tenants. Landlords should
note that there are heavy penalties for noncompliance
with these Regulations.
Gas Safety (installation and use) regulations
1998
These cover all gas appliances, flues, meters
and associated pipe work and require landlords
to arrange an inspection, carried out by a
‘GasSafe’ registered engineer, to check all gas
installations. Once the engineer is satisfied
that the installations fulfil all requirements, a
Landlords Gas Safety Certificate will be issued,
a copy of which must be held by us and
given to the tenant before they move in. This
certificate must be renewed annually.
Drivers & Norris normally arrange the initial
inspection and, where the Full Management
Service is required, annual inspections
thereafter. It is advisable to arrange the
inspection before a tenant is found, to avoid
delaying the start of the tenancy. Breach of
this regulation can result in heavy fines or even
imprisonment.
Landlords are also responsible for ensuring that
either the operating instructions are shown on
the appliance or that an instruction booklet is
supplied.
Furniture and furnishings (fire) (safety)
regulations 1988 (amended 1989 and 1993)
This Act covers all upholstery and upholstered
furniture supplied by the landlord in a rented
property, including beds, curtains, pillows,
headboards, mattresses, cushions, sofa beds,
futons etc. New compliant furniture will always
carry the correct safety label.
The electrical equipment safety
regulations 1994
These regulations apply to all persons who
let accommodation containing electrical
equipment. The electrical installation at a
property and any electrical appliance should
be safe and regularly checked. Remedial
work should only be carried out by a qualified
electrical engineer.
The landlord is also responsible for ensuring
that either the operating instructions are shown
on the appliance or that an instruction booklet
is supplied.
Drivers & Norris hold full details about all
Regulations and landlords, if in doubt, are
advised to seek further guidance from us.
Failure to comply with these Regulations
may constitute a criminal offence under the
Consumer Protection Act 1987.
Carbon monoxide detectors and smoke
Alarms
From October 1st 2015 regulations required
Landlord’s to install both smoke alarms and
carbon monoxide detectors in all rented
residential accommodation and Government
guidelines advise both landlords and tenants
check and test the alarms regularly, ideally
monthly. The landlord or their agent must check
the smoke alarm on the first day of the tenancy
Energy performance certificates
Energy Performance Certificates (EPC) have
been introduced to help improve the energy
efficiency of buildings. The EPC is required by
law when a property is offered for sale or rent. It
gives home owners and tenants information on
the energy efficiency of the property.
Part of the EPC is a recommendation report
which will list the potential rating that your home
could achieve if you made changes. The report
lists improvements that you could carry out and
how this would change the energy and carbon
emission rating of the property.
You do not have to act on the recommendations
contained in the report however, in the fullness
of time, tenants may reject homes which are
energy inefficient.
Landlords will need to
provide an EPC to
prospective tenants the
first time you let or when
you re-let your property.
The EPC is valid for 10
years.

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A small selection of property let and managed
by Drivers & Norris

Get in touch:
020 7607 5001
info@drivers.co.uk
Commercial
Residential
Sales
Lettings
Auctions
Management
How we work
Our sales team use their local knowledge,
experience and technology to stay ahead on
who’s looking, what’s selling & what homes
are achieving locally.
We listen carefully to what’s needed, then
gently walk clients through the buying & selling
process, ensuring great results for happy
customers every time. Behind the scenes
a full-service Team is in support.
What makes us differen
Drivers &Norris has given
inside-tracking on buying
in North London since 18
As an Independent Estat
success is built on meeti
and offering a range of p
services unrivalled locally
the perfect choice when
selling or renting in the a
Where to find us
Our offices are conveniently located
on the Holloway Road near the tube
station. We’re open Mondays through
Saturdays from 9 ‘til late.
Pop in for a chat with one of our
helpful Team, call us or visit our
website for up-to-the-minute
inspiration.
407–409 Holloway Road,
London N7 6HP
drivers.co.uk
020 7607 5001
< Highgate
Archway
Upper
Holloway Odeon
Cinema
Tufnell Park Road
Tufnell
Park
< Camden Parkhurst Road
Waitrose
Holloway
Road
Arsenal
Seven Sisters Road Finsbury Park >
Holloway Road Highbury & Islington >
Tollington Road
Drayton
Park
Highbury
Fields
Where to
Our office
on the Ho
station. W
Saturdays
Pop in for
helpful Te
website fo
Drivers &
407–409 H
drivers.co