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Landlord

Information/Guidelines

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Millbank Property Management | Letting Agent Milton Keynes

Important Information For Landlords

View our detailed list of FAQs, which highlights all of the important information for landlords within Milton Keynes and the surrounding areas.

  • How do I know if my property is ready to let?
    Your property will be deemed ready to let when the following conditions have been met (where applicable). Your property will be deemed ready to let when the following conditions have been met Ensure the property is in a good state of repair, clean and tidy Provide a valid Energy Performance Certificate before marketing. We can arrange if required subject to additional payment. Click here for landlord full property management fees. Provide a valid Landlord Gas Safe Certificate (if applicable). We can arrange if required subject to additional payment. Click here for landlord full property management fees. One smoke alarm for each floor of the property. A carbon monoxide detector must be present in any room with solid fuel heating (e.g. coal fires) If your property has a "Buy to Let" mortgage or is mortgage free consent is not required. If you don't have a "Buy to Let" mortgage you will require written consent from your mortgage lender to let your property. contact your lender directly for more information It is recommended the carpets/floorings are in good condition, clean and pleasing on the eye. Windows should have some curtains, nets or blinds. Any fabric furniture needs fire safety labels otherwise it cannot stay or be stored at the property All appliances left must be "safe to use", clean and working efficiently. All instruction manuals must be left to ensure safe use by the tenant Provide one full set of property keys to the tenant, extra front door keys for any other adult tenants and a full set of keys for Millbank If the utilities are on a card/key meter, please provide the appropriate card/key All rubbish and personal effects to be removed from the property Lawnmower and garden tools to be left along with to ensure the tenant can be legally responsible to attend to the garden(s) Details of any part of the property not included in the tenancy (e.g. loft, garage etc) Signed Agent/Landlord Agreement giving us the authority to act for you
  • Should I Let my Property Furnished or Unfurnished?
    As a minimum, we would recommend providing a cooker, fridge/freezer, washing machine, carpets, window coverings and light fittings. All other furnishings are at your discretion.
  • What happens when we find a tenant?
    We will contact you once any tenant has made an offer to rent your property and upon your instruction we will process the application with our referencing company to check their suitability
  • Referencing:
    Once a tenant has been agreed they will undergo a strict referencing procedure comprising of: Financial credit check Current employment reference Previous employment reference (if applicable) Current or previous landlord reference Upon a successful tenancy application with your consent, we can purchase on your behalf a landlord legal expenses/rent guarantee policy via FLS Tenant Referencing the company we use to reference tenants introduced by us. Having a landlord legal expenses/rent guarantee policy in place will give you peace of mind knowing if the tenant defaults on paying their rent the policy will pay the rent and also pay for evection/legal costs through the county court until vacant possession is obtained.
  • Rent Collection/Payment Date:
    We pay you monthly pro-rata on the agreed completion date (taking into consideration any bank holidays, weekends and bank transfer times) minus our management fee directly into your bank account. An official rent statement is posted and/or emailed to landlord confirming payment has been made and fees have been deducted.
  • Tenancy Agreement:
    The agreement will be an Assured Shorthold Tenancy Agreement for a minimum term of six (6) months or more. Tenants and landlords are expected to adhere rigidly to the terms and conditions of the tenancy agreement without exception. Millbank’s agreement will include such clauses as “non-smoking” and “pets clause” and in certain circumstances can be amended to suit any mortgage lender required clauses.
  • Property Inventory/Schedule of Condition:
    We will arrange a professional inventory/schedule of condition (subject to additional payment) prior to the beginning of your tenancy start date. The inventory lists items, fixtures & fittings in the property and the schedule of the condition part describes the condition of the items, fixtures & fittings. Internal/external back up photos is taken to accompany the inventory. From completion, the tenant has seven (7) days to check through it and make any comments. A property inventory is required as essential evidence in proving any damage or similar claim against the tenant’s deposit at the end of the tenancy.
  • As a Landlord what other responsibilities do I have?
    EPC: By law, you will have to have an EPC before you can legally market the property. The EPC will last for up to 10 years and is then renewable. We can arrange an EPC for you if required, subject to additional payment. Landlord Gas Safe Certificate: By law, if your property is served by gas, you must have a valid landlord’s gas safety certificate. The gas safe certificate will last for twelve (12) months and will be renewable every 12 months while a tenant is still living at your home, we can arrange this for you if you wish. Electrical Certificates: Currently these are not mandatory but some corporate tenant clients do require them. We can arrange any electrical testing. There are 2 tests – PIR (Periodic Inspection Report) which tests the installation and wiring. PAT Test (Portable Appliance Test) which test all portable appliances. We can arrange for a qualified electrician to provide a quotation and further details on testing with the latest regulations considered. Furniture: The Furniture Fire Safety Regulations 1988 states that furniture must comply with all regulations and carry the BS7177 symbol. This includes all furniture, beds, mattresses, playpens etc. To be safe we recommend removing all furniture which does not carry the British Standard symbol.
  • Do I need to inform my Mortgage Company?
    If your property is subject to a mortgage or a leasehold property you must seek permission from your mortgage lender and/or your freeholder prior to letting your property. If this is done in advance it is not usually refused. You may also need to seek permission from any other interested parties. This may include any organisation that you pay ground rent to. If you have any mortgage arrears you must make us aware as we cannot rent out your home until any arrears are paid up to date. If the property is mortgage free permission is not required.
  • Government Tenancy Deposit Scheme:
    Millbank will act as "stakeholder" in the retention of the tenant's security deposit which will be registered/protected with Mydeposits. Deposits taken are: Security Deposit equivalent to six (6) weeks rent (with no pets). Security Deposit equivalent to two (2) month's rent (with pets subject to the landlord's consent).
  • Utilities (Electricity, Gas, Water and Council Tax):"
    From completion, the tenant is responsible for the electricity, gas and water charges at the property. Meter readings are taken and confirmed in writing to the current energy supplier and Anglian Water. The tenant is responsible for the council tax charges at the property. It is the landlord’s responsibility to cancel their own utility accounts.
  • Landlord Maintenance:
    Any items within the property that forms part of the tenancy agreement fall within the landlord's responsibility. This includes all appliances and furnishings etc. The landlord is responsible to keep the structure and exterior of the property in repair, the installations in the property for the supply of the gas, electricity and sanitation in repair and working order. The landlord has a further responsibility to keep the installations for heating water and heating the premises in repair and working order. The landlord is not expected to repair any items that a tenant has broken due to negligence (being careless) or misuse, or if the tenant has not kept the property in a “tenant like manner”. We have a large local contractor database whereby we can arrange any maintenance work as required. Excluded from the Landlord's Maintenance Pest control including bird, bee, wasp nests and rodents; Blockage of main drains, kitchen sink, bathroom sink, toilet and bath due to foreign objects, fat/grease, sanitary towels, facial/bacteria wipes and any other non-dissolvable objects the tenant will pay the full cost of any repairs including any plumber/drainage engineer call-out charges.
  • What about Garden/Landscaping Maintenance:
    Tenants are responsible for gardens/landscaping at the property. Unlike the sales market, big gardens can be turn off for many tenants. We have arranged tenancies that include gardening services as part of the overall tenancy package. If the property does have lawns/landscaping areas to maintain it is recommended that a lawnmower and garden tools are provided as part of the inventory
  • Building and Contents Insurance:
    You need to notify your insurance company and/or estate management company your property is being let. Failure to notify your insurance company and/or estate management company your property is being let may invalidate any claim. Your buildings insurance policy must be a landlord buildings insurance policy not a standard homeowner buildings insurance policy. For rental properties, standard homeowner buildings insurance policies are null and void. The tenants are responsible to insure their own personal belongings.
  • What if the Tenant does not pay their Rent?
    Millbank will take every step to ensure the tenant is suitable for your property. Unfortunately, on rare occasions, problems do occur and rent may be delayed. Until monies are received we are unable to pay you. In this event, we will contact the tenant and pursue recovery. In most cases, non-payment is due to an oversight on behalf of the tenant and is rectified immediately. On very rare occasions it is due to other financial difficulties. We strongly advise all landlords have in place a legal expenses/rent guarantee policy. Reason for the policy if the tenant defaults on paying the rent the policy will cover the rent and also pay for evection/legal costs through the county court until vacant possession is obtained.
  • Assignment and Subletting:
    The tenant is not allowed to assign the tenancy to another party/company or sublet or grant any concession or licence to use the property or any part of the property. An assignment, subletting, concession, or licence, whether by operation of law or otherwise will be null and void. Assignment/subletting of any kind the tenant will be served the Section 21 Notice requiring possession for breach of contract.
  • Property Inspections:
    Property inspections are done approximately every four (4) months. Notice of property inspections are confirmed in writing giving the tenant ample notice of inspection date/time. A formal report is given to both the landlord and tenant confirming the condition and presentation at the time of the inspection.
  • Smoking/E-Cigarettes/Vaping:
    Smoking of any kind including e-cigarettes and vaping is strictly prohibited inside the property. All smokers must smoke outside.
  • Pets:
    Unless agreed in writing tenants are not allowed to keep pets inside/about the property.
  • Decorating:
    Unless agreed in writing internal/external redecoration is not permitted.
  • Picture Frames/Shelving/Curtain Poles/Curtain Rails:
    Unless agreed in writing erecting picture frames/shelving/curtain poles/curtain rails is not permitted.
  • Window Cleaning:
    Tenants are responsible for keeping the windows/framework clean inside/outside during the term of their tenancy.
  • Post/Mail:
    We recommend you redirect your mail before from the tenancy completion date. Royal Mail normally requires seven (7) days to set-up a postal re-direction service.

01908 317044 (Office)
07811 044439 (Mobile)
info.millbankprop@btinternet.com

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