Answering all your Questions as Landlords
Bristol and Surrounding Area
Landlord FAQ's
Becoming a Landlord
I am thinking of buying an investment property, can you advise me on the best types and locations?
We would be delighted to discuss this with you, areas and types of property can vary over time so please call or e-mail so we can arrange to discuss the various alternatives.
What is the Tenancy Deposit Scheme?
All Landlords are now required by law to register deposits with a deposit scheme. The registration of the deposit must be made within a certain timescale and any proposed deductions at the end of the tenancy must be agreed with the tenant, again within a certain timeframe. The main implication is that an inventory must be extremely detailed as must any activities during the tenancy, including the check-out. There are 3 Deposit schemes which can be considered.
What legal requirements are there in order to let my property?
If your property has Gas Central Heating, a Landlord Gas Safety Test must be obtained, this has to be done every year.
What testing and certificates are needed in order to let my property?
If there is Gas in the building a carbon monoxide detector must be installed and tested yearly. An EPC is required, this is an Energy Performance Certificate and last for 10 years. All furniture must comply with the Furniture and Furnishings (Fire) (Safety) Regulations 1988. There must be a fire detection system in the property and this must be tested on the date;a new tenancy commences.
Do I need to inform my insurance company that I am renting out my property?
Yes, you should do this, or if your property is an apartment you should inform the management company to make sure the insurer has been informed.
What is a HMO?
A house of multiple occupation is defined as any property that has members of a different family living together and sharing facilities. The rules can be quite complex and many HMOs are not subject to any legislation or licensing, but some are and it is important to know what to do and when. Please get in touch for more information regarding the latest legislation.
Working with Digs Letting and Management
Who carries out maintenance on the managed properties?
Digs’ dedicated property managers will organise any maintenance on the properties Digs manages. All of our independent contractors have been employed by Abode for numerous years and are trustworthy and reliable. For any large jobs a minimum of 2 quotes will be obtained.
Does Digs only Let and Manage properties?
Digs can do a Viewings Only, Let Only or a Fully Managed Service, we will always try and accommodate a Landlord’s particular requirements.
If managed how often is my property inspected?
Inspections occur every quarter and a letter/report or e-mail will be sent to you after each visit. We specifically look for issues that may affect the structure of the building or faster than reasonable wear and tear on the property.
How often is our website updated?
www.bristoldigs.co.uk is updated daily with new properties. Everyone who registers on our website gets text and email notifications when new properties come on the market. We also advertise on various property portals and spend a lot of resources ensuring we are well placed on various search engines.
Do you offer a rental guarantee?
We can offer a rental guarantee service, although we find our strict referencing criteria means that this is not often requested by our Landlords. Please contact us for further information.
Tenants, Money & Management
Do I need to inform utility companies?
We will inform Bristol City Council Tax Department of the change of occupants along with your student numbers to enable them to issue a council tax student exemption certificate. If we do not have your student number please let us have it straight away to avoid receiving demands for council tax payment. If at a later date you receive a payment request from Bristol City Council it is your responsibility to contact them. Tenants are responsible for informing other companies of change of occupants, such as utility companies, TV licensing authority, broadband and phone providers. Digs will take meter readings the day you move into the property and are available on request from Digs 7 days after the date you move in. In due course the utility provider will send a bill direct to the property and it is then your responsibility to contact the utility company and provide your details. Failure to set up an account will mean Digs are permitted to provide the utility company with the name/e-mail address/phone number of the tenant/tenants on request and reserve the right to charge for this service.
How much money should I withhold from the rent to put towards maintaining my property?
This very much depends on the initial condition of the property. Ignoring the structure of the building we advise that you should budget for 5% of the monthly rent to to put towards maintenance items over the period of a year. A few examples might be: redecoration, carpet replacement, boiler breakdowns, white goods breaking over time.
How long does it take to find tenants?
As a rough guide we advise a time scale of 4-6 weeks from marketing the property until the tenants move in. This can be far less depending on the type of property and the rental level.
When do I receive rental into my bank account?
If your property is a Let Only we would transfer funds to you within 5 working days of move-in.
If your property is managed your funds would clear your account on the 15th of each month for the month in question.
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