Here at Horizon, we understand the importance of choosing the right tenants for your property. As well as this, we know that it is exceedingly important to ensure that tenants are pleased with the standard of the property they are leasing.
For landlords who don’t have the time or desire to manage their properties, we are here to provide them with a great lettings management service. Horizon’s lettings agents offer a full management service across the Teesside area, with our lettings team all working out of our flagship Branch in Middlesbrough Town Centre. Our three letting directors are all landlords with mixed portfolios so they fully understand what service a landlord would desire from start to finish.
Our one aim is to provide a hands-off property management service to all of our clients and being local to the area ensures that we know our market extremely well. Our friendly and skilled staff continuously go above and beyond to ensure that it is an easy process for you, when it comes to lettings management.
Horizon has operated as a property management company for several years and already has a vast array of reputable and trusted contractors that we have used on hundreds of jobs, in the Teesside area. We have furnished and unfurnished properties available to rent on our site as well as student housing for Teesside University, we have experienced it all and we know exactly how to help you!
Guide for Landlords
Before your property can be let, there are some steps you will need to complete beforehand. This is the preparation process. We will provide you with a list of steps you should take, below:
General condition of the property:
It is very important to ensure all aspects of your property are safe for your tenants. This included electrics, central heating, gas plumbing, hot water systems and waste. If there are any issues with the condition of these factors, the repairs and maintenance are down to the landlord to resolve. As well as this, it is ideal that the interior decor of the property is light, plain and neutral and in good condition.
Furnishing:
You can let your property either be furnished or unfurnished. This may be affected depending on the local market conditions and property type. However, you must ensure the property has good quality light fittings, flooring and curtains.
Personal items and storage:
All personal and sentimental items should be removed from the property to ensure they don’t become damaged or lost. Leaving your personal belongings in the property while letting is at your own risk. You also need to ensure all shelf space and cupboards are left clear for the tenants' use.
Outdoor area:
If your property has access to outdoor space it should be left tidy, neat and rubbish free. If your outdoor space contains a lawn it must be cut. Once you are letting your property, tenants should be maintaining your garden, providing they are left with the right equipment. If this is something the tenant can’t do you may want to consider a gardener.
Cleaning:
When letting the property, it must be in clean condition. Once the tenant is letting the property, it is their responsibility to maintain this condition. At the end of the tenancy, the tenant must leave the property in similar conditions as to how it was originally.
What to tell the tenant:
It is a good idea to provide the tenant with information about the property such as how to operate the water, central heating, washing machine, etc.
Keys:
You must provide each tenant with a set of keys for the property, so some keys may need to be cut.
At Horizon we are used to all of this, if it is new to you, we are here to help you through the process!
Landlord Fees Overview
Income tax:
Rental income is charged to income tax at your marginal rate. Income tax rates are now up to 45%, meaning you should aim for a lower rate and personal bands of tax are used in full.
Interest relief:
A lot of expenses incurred while letting your property allow for tax purposes. You can also deduct the cost by purchasing replacement furniture when calcul;ating your taxable profit.
Capital gains tax:
Residential investment property sales are typically charged to Capital Gain Tax (CGT) at 18% or 28%. Each individual is entitled to an annual exemption which is £12,300 (2021).
Inheritance tax:
Inheritance Tax is charged on assets when your estate is at 40% over the nil rate band, which is currently £325,000. This is not in pace with the increase in property prices, meaning many people find that these bills are on the high side.
Teesside Rental Market
£506 pcm is the average rental property price in Teesside.
The total amount of properties for rent in Teesside is currently 777 (28/06/21)
There are more properties to rent with 2 bedrooms than any other amount of bedrooms.
There are more houses to rent than flats or rooms.
With this in mind, could it be time to rent your Teesside property?
What Happens Next?
Simple, contact us to get started. Horizon has a great experience when it comes to Letting Management, as we have been a property management company for several years. With a mixture of property types and unfurnished or furnished properties, we know exactly how to deal with every outcome. As well as this, we are local to the Teesside area meaning we know our market extremely well.
If you are interested in letting your property in Teesside or the surrounding area, we have experienced it all and we know exactly how to help you. Take a look at our Landlord Fees Schedule or Contact us directly here!
