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Leases lay down details of the rent and the deposit tenants must provide to cover damages. They also commit the landlord to keeping the property in good repair, while tenants are liable to pay the rent throughout the period of the tenancy. Managing your second home on a day-to-day basis may involve more responsibility and hassle than you are prepared to take on, particularly if you live some distance from the property. Letting agents can do the work for you, finding tenants, checking references and advising you how much rent to charge. When setting the rent, they will take into account the property’s size, location and the current state of the market.SEO specialist

Agents can also hold tenants’ deposits and handle the inventory of the property’s contents and condition. This can prevent endless arguments at the end of the tenancy. You are likely to be charged about 10 per cent of the rent by the agent for finding tenants. They will probably add on another 5 per cent for handling administrative chores and keeping an eye on the property, although this can rise to 7.5 per cent in London. However, some insurers, such as Axa, will include cover for damage caused by tenants for an extra charge. Potential landlords always fear they’ll be landed with tenants from hell who will damage their property and ignore the tenancy agreement.

But the good news is that you can set all your letting expenses against tax, which is particularly advantageous for higher-rate taxpayers. seo services Most big estate agents, such as Savills and Countrywide, also act as letting agents. Arla has its own code of conduct and arbitration, while all members must have worked as agents for at least two years before they are allowed to join. If you have a complaint about your agent ­ for example, if the rent has not been passed on to you ­ you can take it up with Arla.

The landlord must have adequate cover for the property and everything inside it, while tenants are responsible for insuring their own possessions in case of burglary, fire or theft. Many insurers offer competitive schemes but, which-ever you decide on, look at contracts carefully. Some insurers refuse to pay out for theft if the property is unoccupied for over 30 consecutive days. You are also responsible for any damage done by the tenants or anyone else visiting the property, as these are not covered by standard policies. The good news is that, if this happens, eviction is easier today than in the past,There is no longer any need for a formal court hearing; a county court judge can decide the case in chambers.