We have a database of major companies, re-location agents and military contacts. These are regularly circularised and contacted with new instructions. We operate a mailing list for any other applicants who are looking on their own behalf and individual details emailed or posted as required. We use local press and do, of course, have details of our properties available in both of our offices (in Chorleywood and Amersham) for any applicants making personal visits. Our state-of-the-art website is continuously updated on a live basis and all properties are also advertised through the Rightmove portal.

We make every effort to find the most suitable tenants for your property.  Once we have identified a suitable potential tenant, you may or may not wish to meet them before reaching a decision.  Whatever your preference, we deal with the referencing process.  Currently, we use Rightmove to reference all applicants and guarantors.  As part of the referencing process, and with due regard to the Immigration Act, we do also take details of passports (and visas, if applicable).

Our Set-up Fees are £480.00 including VAT per tenancy and include referencing for up to four signatories (ID checks, Right-to-Rent checks, AML and Sanction checks, financial credit checks) in addition to contract negotiation (amending and agreeing terms) and arranging the signing of the Tenancy Agreement.

A security deposit equivalent to five weeks’ rent (or six weeks’ rent if the total rent equates to more than £50,000 per annum) is taken from the tenant prior to the tenancy commencing. This is the maximum amount that is permitted under the Tenant Fees Act 2019). In accordance with the current legislation, where an Assured Shorthold Tenancy is created, this deposit must be protected under one of two types of Statutory Tenancy Deposit Protection (TDP) schemes – a single Custodial scheme or one of two Insurance-Based schemes. We at Binks use the DPS (Deposit Protection Scheme).

Where a Non-Housing Act Tenancy is created (i.e. to a Company or a letting where the rent exceeds £100,000 per annum) the deposit monies, in accordance with Propertymark Regulations, are held by us as Stakeholders in a Client Deposit account.

Where we manage a property, at the end of the tenancy, we will arrange for the Check-Out by the Inventory Clerks at the Landlord’s cost. We will endeavour to reach an agreement between the Landlord and tenant as to any monetary claim for dilapidations.

Where we are not instructed to manage, we can also arrange a Check Out or indeed Inventory/Check In if required, at the Landlord’s cost.

It is strongly recommended, for the protection of your property, that you have a detailed Inventory of the Contents and a Schedule of Condition prepared by a suitably experienced Inventory Clerk.

At the commencement of the tenancy, the Inventory should be checked with the tenant and a copy given to the tenant for future reference. A copy of this document is also held at our Head Office and one copy is given to the Landlord. At the end of the tenancy, the tenant will be checked out of the property against the original Inventory. The cost of any damage or missing items not due to fair wear and tear may be deducted from the deposit after an agreement has been reached by both parties. If we act as Managing Agents, we require that an independent professional Inventory Clerk is used for this purpose.

It is good practice that the property is handed over to the tenant in very clean and tidy order at the commencement of the tenancy.  Since standards vary from one person to another, we recommend employing a professional firm of cleaners to deal with this. They should, as necessary, dust, wipe down surfaces, clean windows, oven, hob and extractor, shampoo carpets and clean curtains etc. and an estimate can be obtained in advance.   If a property is handed over in a clean condition, then the expectation can be that it is handed back in the same condition as at the hand-over.

Before letting your property, it is essential to ensure that it is in good repair. All machines and appliances should be in good working order. During a tenancy, the Landlord is responsible for all repairs to the property and contents (except for damage caused by the tenant’s neglect or misuse). Any necessary maintenance should therefore be carried out promptly, both to comply with both contractual and statutory obligations and to maintain the capital value of the property.

If we act as Managing Agents, we will arrange for workmen to carry out any necessary repairs, the cost of which is then deducted from the Landlord’s rental income. If a Landlord has his own preferred contractor, we will endeavor to use that person first. Otherwise, we will use one of our trusted contractors. For this purpose, we shall, during the period of our management, retain a float of £200.00, or such other amount as may be agreed with the client. We deem to have your authority to deal with repairs of a minor or emergency nature (up to the value of £200 on any single item) and to discharge accounts on your behalf. Should any major work be required, we will obtain estimates on your behalf and consult you before proceeding. If there are substantial refurbishment works necessary or desired to be carried out to a management property, we reserve the right to make an additional charge to supervise those works on the client’s behalf. This would be agreed with the client in advance.

It is a legal requirement for a landlord to provide an Energy Performance Certificate (EPC) before marketing a self-contained residential property in the UK.  This must be available for any applicant to view from the commencement of marketing and a copy must be provided to the tenant before they sign the Tenancy Agreement.  It is possible that the property will already have a valid EPC (if the property is newly built or has been recently purchased or offered for sale) and that being the case, the current EPC can be used.  At the present time, the EPC will be valid for 10 years.  In order to facilitate early marketing, we can arrange for the preparation of the EPC.  The cost of an EPC is £90.00 including VAT.

With effect from 1 April 2018 (for existing tenancies from 1 April 2020), it has been a requirement for any properties offered in the private rented sector to have a minimum energy performance rating of E on an Energy Performance Certificate (EPC).  It is unlawful to rent a property that does not meet the requirement for a minimum E rating, unless there is an applicable exemption.

The government has announced plans to raise the minimum EPC rating for rental properties to C by 2030.

The law governing residential lettings in the UK has gone through (and continues to go through) very substantial change over the course of the last decade. There is now a plethora of statutes and regulations that cover this sector, and it is vital that these are fully adhered to and not just perceived as “Red Tape”. Failure to comply fully can leave a landlord at risk of being liable for very heavy fines or even being unable to regain possession of their property and the end of a tenancy.

Some of the most important regulations currently in force are set out below and any landlord should make themselves familiar with them. They should also be aware that new regulations are added to the statute book on a regular basis.

Gas Safety (Installation and Use) Regulations 1998
Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020:
Fire Regulations and Precautions
The Furniture and Furnishings (Fire) (Safety) (Amendment) Regulations 1993
The Energy Efficiency (Private Rented Property) (England and Wales)

This list is by no means inclusive and we, as your managing agent, can (and will) provide further information and answer any questions that you may have.

The Immigration Act 2014 introduced the concept of ‘Right to Rent’ to the private rented sector. This Act requires that Landlords and Agents check the immigration status of their prospective tenants at the outset of the tenancy.  This legislation came into force on 1 February 2016 for all landlords in England.

Where a property is occupied, the tenant is liable for this tax which is based on the value of the property and assumes two adults per household. If the property is vacant, there can be a residual liability on the Property Owner.

It is essential that meter readings are taken and that all accounts for utilities including gas water and electricity and are transferred into the tenant’s name at the start of the tenancy. At the end of the tenancy meter readings should be taken and the bills should be transferred back into the Landlord’s name unless new tenants are ready to move in. A forwarding address must be obtained from the tenant and supplied with the meter readings to the services above so that final bills can be sent directly to the tenant. Provided that an independent Inventory Clerk is appointed to carry out the Check-In and Check-Out, meter readings and forwarding addresses are taken by the Clerk and noted on the relevant reports.

All other outgoings in respect of the property including service charges, road charges, etc. are the responsibility of the Landlord.

If necessary, you should seek the approval of the Freeholder before proceeding with letting any leasehold property. Some head leases will impose conditions relating to the occupancy of the property. We should be made aware of these prior to the drafting of any Tenancy Agreement as it may be necessary to incorporate these in our documentation.

If your property is mortgaged, your building society or bank may well require you to seek their approval before renting the property. In some cases, this can result in a reassessment of the repayments. Mortgagees often also require a fee and copy of the Tenancy Agreement.

The Landlord must maintain the insurance of the property and, as far as possible, of the contents belonging to him, and must inform the insurance company that he intends to let. It is recommended that all items of considerable or sentimental value should be removed
before letting.

Your rental profit is liable for tax at the same rate as any other income received, whether or not you are resident in the United Kingdom.

If you are resident in the UK when declaring this income to the Inland Revenue you may make an application to have any allowances taken into account against the tax liability, e.g., agent’s fees, costs of necessary repairs etc. For this purpose, it is advisable that you retain receipts for any expenditure. We do not deal with clients’ tax affairs and should you require advice on the tax liability arising from rental income we can recommend a firm of accountants.

If you are resident abroad for more than six months in the year it will be necessary for you to apply to the Inland Revenue’s Financial Intermediaries and Claims Office (FICO) for approval to receive your rental income with no tax deducted. Provided that your tax affairs in the U.K. are up to date, such approval should normally be a formality. Once it has been obtained then the rent can be paid to you on a gross basis. You will still be obliged to make your annual returns to the Inland Revenue and, as such, we strongly recommend that you employ an Accountant or Tax Advisor to agree your assessment each year.

If such approval is not forthcoming, then it is mandatory for the Managing Agent (or whoever collects the rent in the UK) to deduct tax at the standard rate at source and to make quarterly returns to the Inland Revenue. In these circumstances we reserve the right to make additional charges to the Landlord to cover the administrative costs of making these returns. If no Managing Agent is instructed and payments are made directly to you, then the tenant will be obliged to make such deduction before the rent is forwarded.

We generally use a standard form of Assured Shorthold Tenancy Agreement that is substantially based upon a document that has been drafted by the Association of Residential Letting Agents (ARLA). This has been specifically designed to conform with all current legislation and was updated in 2019. It ensures that the contract is fair to both parties but also provides maximum security for the Landlord. This Agreement will create a personal and binding contract between the landlord and tenant. It should, however, be noted that any new statutes subsequently passed by the government could, in certain circumstance, vary and override contractual terms that have been agreed.

Assured Shorthold Tenancies were created under the Housing Act 1988 to encourage owners of property to enter the residential letting market by making it easier for Landlords to reclaim their property at the end of the tenancy. We recommend the use of this style of Tenancy Agreement in nearly all circumstances except that of a company let or where the rent exceeds £100,000 per annum when assured tenancies do not apply. In that event, the standard form of Tenancy Agreement is used, and its terms are legally binding for both parties.

Tenancies are usually granted for an initial term of one year, sometimes with a break clause after seven months. Upon the expiry of the term, the tenancy will automatically become a Statutory Periodic Tenancy unless it is formally renewed or is determined by service of a notice under Section 21 of the Housing Act 1988. Towards the end of the contractual term we will liaise with both the Landlord and Tenant to negotiate terms for any continuation of occupation by the Tenant. Unless we are specifically instructed to do so, we do not, as a matter of course, serve a Section 21 Notice. Should the Landlord require possession of the property at the end of term certain, we must be instructed to serve notice in a timely manner. This notice will need to be served at least two months in advance of the expiry date.