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What we’re often asked about letting and renting in the UK
Although the UK has a bigger percentage of homeowners than any other European country, many still prefer the flexibility of renting. People on short-term work contracts don’t always want long-term property commitments, and others choose to move around while buying a more distant residence for use later.
Naturally, renting also has snags. We’ve all heard tales of rogue landlords, incomplete agreements and poor maintenance. It’s why Petermans’ letting process is as rigorous as it is comprehensive.
Below are some of the questions we’re often asked about letting. If you need to know anything else, please don’t hesitate to ask.
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I’ve been asked to pay a deposit. What’s it for?
A deposit is paid to a landlord or agent at the time you sign a Tenancy agreement, and only repaid to you after you leave: it’s the landlords guarantee that you will abide by the terms of the agreement. If those terms are breached (for example, if you damage the fabric of the building) the landlord can deduct any costs necessary from your deposit before you finally reclaim it.
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As well as rent, what other financial responsibilities will I have?
Broadly, you’d have similar commitments to a homeowner. Electricity, gas, water, telephones and your TV licence are billed as usual, along with Council Tax. But maintenance is usually the agent or landlord’s responsibility, and included in the rent.
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What’s the difference between fully furnished, part furnished and unfurnished?
Fully furnished property generally contains everything you’d need for daily living, other than cutlery, crockery and linen. Part furnished implies complete with kitchen appliances and some items of furnishing, while unfurnished lets contain nothing but basic kitchen appliances.
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Can I decorate rented property?
In most cases, yes. But check with your landlord or agent first: there might be restrictions on which colours or materials you can use.
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Who do I contact if something goes wrong?
Call the landlord or agent as soon as you can. Most reputable managers have contracts with service providers who know your building and will attend to it at a convenient time.
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If I let my property, will I be liable for tax?
Yes, any clear profit you make on a let is taxable. Petermans employ a qualified accountant who would be happy to advise you.
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Who do I speak to at Petermans about letting?
Call Janet Green or Howard Peterman in our Edgware office on 020 8958 5040, or Anna Lees or Raymond Douglas in Herne Hill on 020 7733 5454. For any enquiries about day-to-day maintenance and management, call Karen Antoniou on 020 7733 5454.
Finally, Petermans’ standard landlord agreement contains a comprehensive guide to letting property. A copy is available from any of our offices.
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