Can the landlord or tenant give Notice during the tenancy?
Not during the fixed term of an Assured Shorthold Tenancy, the most widely used form of tenancy, unless by mutual consentt. After the fixed term, the tenancy can roll on, on a statutory periodic, i.e. monthly basis and the tenant may give one month’s notice and the landlord two months.
Since April 2007, all deposits (for rent up to £25,000 per annum) taken by landlords and agents for assured shorthold tenancies in England and Wales have to be protected by an authorised tenancy deposit scheme. Whites has joined the Tenancy Deposit Scheme for Regulated Agents (TDSRA) managed by the Dispute Service. This scheme is supported by the Royal Institution of Chartered Surveyors (RICS), the National Association of Residential Letting Agents (ARLA) and the National Association of Estate Agents (NAEA). What happens to the deposit?
What happens if the tenant has caused damage to the house or contents?
At the end of the tenancy and after checking the Inventory of Fixtures and Fittings and Schedule of Condition during our final inspection, we must account to the tenant with the deposit. Negotiations for any necessary deductions can prove troublesome and we do our utmost to achieve a fair settlement for both parties. Tenants must leave the property as clean and as tidy as when they moved in and be prepared to pay for any damage or breakages that have occurred. Landlords should also realise that however good and careful a tenant might be, some deterioration in decoration and general condition is inevitable over a period of time. It constitutes fair wear and tear, which must be taken into account. Where possible, after consultation with the landlord, we make the appropriate deduction from the deposit, returning the balance to the tenant within a reasonable period of time. It is worth mentioning that the cleaner and more attractively presented a landlord leaves a property, the easier it is for us to ensure it is returned in the same state at the end of the tenancy. I have a sizeable garden, should I employ a gardener? Gardens can cause problems as many tenants are disinterested in gardening, particularly when it is not their own. The standard agreement makes the tenant liable for keeping the garden neat and free from weeds. However, if the garden is large or at all ‘complicated’ or has hedges and shrubs which require careful pruning, we recommend that gardening help is provided on a regular basis. We can as Managing Agents, pay the gardener and would hope that the rent set would help to cover this expense.
I am thinking of buying a property to rent out. I understand that I can use an interest-only mortgage and claim the full costs of the mortgage against the rental income I will receive. Is this correct?
01722 336 422 Yes. Where a mortgage is taken out to purchase a property which is to be let, the interest element of the mortgage can be deducted from the rental income in calculating the taxable profits. However, you do not need to take out an interest only mortgage to be able to get this deduction. You could, for example, take out a repayment mortgage but, in this case, only the interest element of the mortgage payments can be deducted. 5
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