Residential Lettings and Property Management
Southsea Branch
02392 293300
North End Branch
02392 658044
Southsea Branch
02392 293300
North End Branch
02392 658044
As property management and lettings experts we can offer advice to Landlords on a wide range of topics from how to maximise rental income to targeting your property to specific groups of tenants we use all of our knowledge and experience to give you the best advice available.
Portsmouth and Southsea has a vibrant lettings market and we at Tenant Network are at the forefront of what's happening. Whether you own a large family house, apartment or student property we can fulfil all your requirements and find the right tenants for you.
When you first contact Tenant Network one of our helpful members of staff will organise a free no obligation market appraisal with you. One of our lettings consultants will meet you at the property you are proposing to let and advise you on the type of tenants that would be interested in renting your property based on size style and location. The lettings consultant will also give you ideas on property staging and ways to improve the appeal of your home to prospective tenants and also give you an accurate rent evaluation in line with current market conditions.
Our aim is to make your property realize the maximum rental yield whilst renting to the best possible tenants. We deal with three main categories of tenants, corporate/company lets, professionals and students.
Any company that uses us to house there employees would normally expect a well presented, fully furnished property, we could advise you on appraisal whether any corporate contacts are actively seeking property at that time. The company will pay all bills and rent and be signed on a company letting agreement.
The professional market in the area is very strong with lots of large companies employing staff from all over the country local firms include BAE systems, IBM, Vosper's, and Pall Europe. We always have a large database of applicants actively seeking property in the area.
Finally we cater for the Student market which takes up a substantial portion of the lettings sector with over 20,0000 students currently studying in Portsmouth University. Due to our office location on Elm Grove we have literally thousands of Students registering their details with us so if you're interested in getting into this lucrative market or already own student properties Tenant Network is the Landlords No1 choice for Student rentals in the area.
Below are some areas which will need to be considered before renting your property:
Tenant Network can organise any maintenance work required at very competitive prices please call one of members of staff for a free quote on any area of your property rental. We also offer ongoing contracts for general household cleaning and gardening.
If renting out a mortgaged property that is not buy to let you will need to obtain written consent from your lender. If the property is leasehold the terms of the lease will need to be checked and you may need to obtain written consent from the freeholder.
If you already have buildings and contents insurance in place you will need to check that the policy covers you for letting the property. Otherwise the policies may become invalid in the event of a claim. We are an appointed agent for Homelet Insurance. Who specialise in landlord insurance polices. Please visit our insurance page and follow the link for a free quote on various different insurance products.
Income Tax - UK Resident & Non-Resident Landlords - Income tax is payable on rental income irrespective of where you live. Landlords must declare this income on a Self-Assessment Tax Return and if one is not issued automatically he or she has a legal responsibility to notify the Inland Revenue of any liability. As the Inland Revenue assesses your income individually, properties that are jointly owned require returns to be completed by each legal owner. There is a requirement under Self-Assessment to keep adequate records to ensure that the calculations included in the return are accurate.
Non-Resident Landlords (Landlords whose usual place of abode is outside the UK) - The legislation regulating Non-Resident Landlords and their agents differ significantly from Landlords residing in the UK.
Tenant Network as the rent receiving agent, has a statutory obligation to deduct basic rate tax on the net income and make payments to the Inland Revenue quarterly. However, you can apply to the Inland Revenue to "self-assess" your own tax.
The property should be cleaned to a high standard and all personal effects removed from the premises. All cupboards should be emptied and cleaned, along with the key areas such as kitchens and bathrooms. Carpets should be cleaned or replaced if heavily soiled. If the property is furnished then all bed linen/ towels should be washed and any soft furnishings should be cleaned by an upholstery specialist.
All Gardens/ land that form part of the tenancy should be clean tidy and presentable. Grass should be mowed and any shrubs or bushes need to cut back and maintained any tools should be provided for the tenants to maintain the gardens throughout the course of there tenancy.
When deciding on decor for a property rental, it's always best to choose light neutral colours for paintwork. We do not recommend wallpaper as its much easier and cheaper to paint over walls and the end of a tenancy rather than wallpaper. If choosing carpets a hard wearing type which will not show stains and soiling is the best choice, wood laminate flooring is always a good option for some of the high traffic areas within the property.
If a property is furnished then furniture should be of good quality and comply with fire regulations (covered in legislation section). It's best to provide the essential items e.g. sofas, beds, wardrobes kitchen appliances and leave enough space for tenants to add extra items if they choose to. Landlords need to bear in mind that they will be responsible for the upkeep of any furniture which forms part of the tenancy.
Its good practice to give tenants all the information they need when moving into the property as many small problems can be avoided simply by supplying information. The key things that need to be included are utility meter locations, appliance manuals, waste disposal days, and any other information which will aid the tenants in having a hassle free move.?
Tenant Network are the independent property management and residential lettings specialists in Portsmouth and Southsea. If you have any further questions regarding our Property Management Service or you are looking to rent a property please contact us on 02392 293300 or 02392 658044.