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Published: 25 February 2025

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Are you thinking of buying a property as an investment to let out, or perhaps maybe an ‘accidental landlord’. Renting out property comes with many hazards, responsibilities, issues and challenges.

With this I mind we have put together some helpful information, tips and advice.

Should I rent my property out ?

There are many reasons why people decide to rent out their property. The most basic reason is financial. Perhaps an investment for years to come to top up a pension, capital growth, or it could just be a short-term move, while they are living somewhere else for work or family reason. The rental income covers mortgage payments and maybe gives an extra source of income. It could be to begin a business, and build a portfolio of rental properties.

How do I rent out my property?

You can either choose to manage the rental yourself or ask a letting agent to manage the administration and management of the property. You will also need to decide how to offer your property, furnished or unfurnished ( as most are ).

Check You Are Allowed To Rent Out Your Property - Talk to your mortgage lender

Before you begin renting out a property, you need to check you can ! You’ll likely need to move to a buy-to-let mortgage if you have a residential mortgage. Your buildings insurance may be invalid too, or your leasehold agreement ( if not Freehold ) could prohibit you from renting your home. Make sure you check all of this out.

Landlord licensing

Licensing schemes for landlords are in operation in some areas of the UK. These are designed to improve the standards of property management. There are a few types of licensing scheme, for example :

• Mandatory licensing – it is illegal to let out a HMO in England without a license
• Selective licensing – some local councils will ask all landlords in its area to apply for a licence, or to take a ‘fit and proper person’ test

Check with your local council if they operate a licensing scheme. A license will cost a small annual fee.

How much rent will my property achieve ?

Knowing what rent to charge will depend on a number of factors, the size of the property, the facilities it has access to, and the rental price of similar properties to name but a few. Setting your rent too high will make your property less attractive.. Setting it too low could make it more difficult to choose a good tenant. By seeking expert advice from a knowledgeable agent, you can set a rental price that maximizes your return while attracting the right tenants.

Tax and national insurance

Rental income counts as taxable income. Income tax is calculated on the profit you make as a landlord, so you will need to deduct any expenses first. The amount of income tax or National Insurance you pay will depend on the tax band you are in, your other sources of income and if the property is owned, jointly by you or a company

What are the legal responsibilities for landlords?

It is a legal requirement for landlords to conduct regular gas safety and electrical checks on their properties. The Gas Safety Certificate check should be conducted annually by a gas safe registered engineer. It is an inspection and test of all the gas appliances and systems in a property.

The Electrical Safety Regulations require a check of the electrical installations in rental properties every five years. The check should be conducted by a member of the qualified and competent person scheme. Landlords must provide copies of the gas and electrical safety certificates to their tenants.

• Property hazard assessments
• Smoke and carbon monoxide detectors to comply with fire safety regulations.
• Legionella assessments
• Energy Performance Certificate (EPC): The property must have a valid EPC with a minimum rating of 'E.'

Fire safety regulations

Landlords should ensure that a range of fire safety measures are in place in their property. This includes installing smoke alarms on every floor and a carbon monoxide alarm in every room with a solid fuel burning appliance.

Right to rent checks

Right to rent checks are mandatory for landlords and letting agents. Landlords must ensure that before a tenancy can begin, they have proved that a tenant is in the UK legally, and has the right to rent a residential property. Landlords are liable for significant fines if checks are not made, or tenancies commence with tenants who fail the checks. 

Starting The Tenancy

A tenancy agreement will be needed, and to be signed by you and the tenant. This is something Acres can do for you. Make sure it is tailored to your requirements. For example, if you want your tenants to maintain the garden or not smoke on the premises, you need to include these as clauses. But anything you include must be legal. Most tenancies fall under an Assured Shorthold Tenancy (AST), which allows tenants to rent your property for a fixed period, usually six months to a year.

Ensure all repairs have been completed before your tenant moves in. Leave instructions for appliances, plus any helpful information.

A complete inventory will be needed– photos taken or videos of your property and any items included. Your tenant should sign the inventory to confirm that everything it lists is present and in the stated condition.

Your tenant must be provided with certain documents, including the energy performance certificate, gas safety certificate, Electrical Installation Condition Report (EICR) and a copy of the government’s How to Rent guide. You must also protect your tenant’s security deposit in a government-approved scheme. This security deposit will be released back to the tenant at the end of the tenancy, provided that it’s not needed to cover the cost of damages they have caused to the property.

Protecting your tenant’s deposit

Landlords have a legal obligation to protect the deposit of their tenants, and return the deposit to tenants at the end of the tenancy, minus any reductions or costs. Here at Acres we of course  will do this for you, you can never ask the tenant to do it. Landlords must use a government-backed tenancy deposit scheme, even if the deposit is paid by a third party such as a parent or friend of the tenant.

Landlord insurance

Landlords do not have to take out specialist contents and buildings insurance for their rental properties, but it is highly recommended that they do. Standard insurance policies will not cover landlords for issues such as tenants not paying rent or causing damage to the property. Landlord or ‘buy to let’ insurance will include extras such as public liability cover, loss of rent, emergency cover and legal expenses. Premiums could be higher depending on the tenants you are renting to.

During The Tenancy

Landlords are responsible for most repairs and maintenance in a rental home. This includes the electrical wiring, plumbing and sanitation, heating and hot water, and the external structure of the building.

If renting out the property without an agent, you must be ready to attend to any tenant issues. It is worth having a list of reliable tradespeople to call on or taking out breakdown insurance to cover you for household emergencies.

Periodic inspections of the property should be carried out to ensure that the tenant complies with the terms of the tenancy agreement. However, you must give 24 hours’ written notice before visiting the property – your tenants may refuse entry if they wish.

What rights do landlords have to take back possession of their property?

Currently a number of options are available to landlords if they need to gain possession of their property, although the recent change of government has meant proposed sweeping changes, which also should be taken into consideration, and obtaining your property back my become significantly harder.

The primary method of eviction of a tenant in an assured shorthold tenancy is through a Section 8 or a Section 21 notice. A Court order can be obtained to claim possession if the occupiers of the property have no rights to occupy; the landlord can agree with the tenant to surrender the property, or prove that the property has been abandoned by the tenant or occupier.

Balance Your Time And Costs

It is possible to rent out your property yourself, and being a DIY landlord allows you to save on letting agency costs. However, being a landlord is challenging and time-consuming, especially if you fit in with a full-time job. Using a trusted letting agent will ensure that you have great tenants, earn the maximum rent and that any emergency and routine maintenance jobs are carried out promptly.

What does a letting agent do for a landlord?

Put simply, a letting agent arranges everything on behalf of the landlord. The agent gives the landlord peace of mind when it comes to dealing with the property and the tenants on your behalf.

Letting agents offer expertise and knowledge in a range of areas. It’s our job to know everything about being compliant with the law, understanding the current market when it comes to agreeing on rental income and knowing how to best advertise your home to prospective new tenants.

Of course we do charge a commission, but you can’t put a price on sleeping soundly – or the knowledge that your tenants are sleeping soundly in your property.

Of course, we do charge a commission, but you can’t put a price on peace of mind – knowing that your property is being professionally managed and your tenants are well-cared for. With a letting agent handling everything, you can rest easy, confident that your property is in good hands.

You must comply with the law on discrimination when choosing the best tenant for your home. Discrimination against anyone based on protected characteristics, including age, race, religion, disability and sexual orientation is against the law. You can find more information on the gov.uk website this will help you understand your responsibilities.

The Benefits of Using Acres Lettings

1.            Time-Saving

We handle all aspects of the rental process, including advertising, tenant screening, and property management.

2.            Expertise

Acres understand the local rental market, all legal obligations, and how to price your property competitively.

3.            Access to Marketing Channels

We of course advertise on Rightmove and On the Market, social media and our excellent web site increasing visibility to all potential tenants.

4.            Tenant Screening

We will conduct comprehensive background checks to minimize the risk of problematic tenants.

5.            Legal Compliance

Acres ensure you meet all your legal requirements, such as drafting tenancy agreements and deposit protection.

6.            Property Management Services

We of course offer full management services, taking care of maintenance, rent collection, and tenant communication.

7.            Dispute Resolution

We will if needed mediate disputes between landlords and tenants, ensuring issues are resolved professionally.

8.            Peace of Mind

By trusting us with the management of your property, you can relax knowing we’ll handle everything with care, reducing your stress and providing you with a seamless, worry-free rental experience.

Costs and options of a Lettings Agent : Click here to see our fees.

• Tenant-Find Only.
• Tenant find and rent collection.
• Full Management.
• Additional Fees.

Using a letting agent is especially beneficial for landlords who are new to renting, live far from the property, or have limited time to manage it themselves.

For further information, help, and of course to book a valuation please contact our Lettings Manager Annabelle Reynolds on 312 4997   This email address is being protected from spambots. You need JavaScript enabled to view it.  

Alternativly, are you thinking of selling your property and want to check how much your home is worth? You can get an Instant Valuation here.

 If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:

Four Oaks                              0121 323 3088

Sutton Coldfield                  0121 321 2101

Walmley                                 0121 313 2888

Great Barr                             0121 358 6222

Lettings                                  0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale. 

Nigel & Jayne  Deekes – Acres Partners

Acres; proud to be family owned, managed, run and to have been serving the North Birmingham community for 33 years.

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Published: 22 February 2025

Hits: 162

Taking out a mortgage is likely to be the biggest financial commitment you’ll ever make, and so you'll want to find the best deal you can. The good news is there’s plenty you can do to improve your chances of getting your mortgage application accepted – follow our top 10 tips to help you get the mortgage you want

If you’re thinking about how to get a mortgage, you should be aware of the factors that affect your eligibility. These include: your credit score, length of time in current job, current debts, whether you’re self-employed and of course the size of your deposit.

Follow our top 10 tips below to find out how to get the mortgage you want.

1. Your credit score matters

Before applying for a mortgage, get a copy of your credit report which is held by credit reference agencies such as Experian or Equifax. This will allow you to see what lenders see when they review your application.

If your credit rating isn’t looking that great, there are lots of simple things you can do which can give your score a boost. For example, check you are on the electoral roll and close down credit card accounts which you no longer use.

2. The starting point is your own sums

Sit down and work out your budget before applying for a mortgage. You will need to be sure you can borrow enough to cover the purchase of the property and that you’ll have enough spare to cover all the associated costs and fees. 

Monthly mortgage repayments will depend on how much you want to borrow (and over how long) and the interest rate charged. 

3. You’ll be better off in the same job

Lisa Brown of Acres Financial Services said; “ Most lenders will want to see that you’ve been with your employer for some time before they’ll give you a mortgage, so if you’re thinking of switching jobs, it’s a good idea to hang on until you’ve got your mortgage in place. Many lenders like to see you have been in your existing job for at least three to six months.”

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4. Debts don’t help

If you’re submitting a mortgage application, the last thing any prospective lender is going to want to see is that you owe a load of cash on credit cards or you’ve got outstanding loans.

Claire Allen of Acres Financial Services said " Before you apply for a mortgage, try to reduce any debts you have – this will help demonstrate that you manage your money responsibly. It will also mean you will potentially be able to borrow more when it comes to a lender’s affordability calculations. "

5. You’ll need proof of income

Mortgage lenders will want to see proof of how much you earn, so you’ll probably need a P60 form which you get every year from your employer and shows a summary of your pay and how much tax has been deducted.

You’re also likely to be asked for three months’ worth of bank statements and payslips so the lender can look at both how much you have coming in as well as your outgoings.

6… or accounts if you’re self-employed

Getting a mortgage when you’re self-employed can be more tricky, especially if you’ve only recently decided to go it alone. Lenders want proof of income and so they’ll usually ask to see SA302 forms relating to the current / recent years from HMRC, or your full trading accounts. 

7. The bigger the deposit the better

The more you can save up to put down as a deposit, the bigger the choice of mortgages that will be available to you. Lenders reserve their best rates for those with hefty deposits, so you’ll also benefit from lower monthly payments because you’ll have qualified for a better deal.

8. Buying with someone else can be easier

If you are struggling to building up a decent deposit on your own, you might want to think about buying with someone else. This could boost your chances of securing a decent mortgage, particularly if they’ve got an excellent credit history and a higher income than you. But remember that this is a big commitment, so you’ll need to sit down and work out with the other person what would happen if one of you wanted to move in future.

9. You shouldn’t chop and change your application

Once you’ve started your mortgage application, don’t mess around with it and start changing figures as it could hold up your property purchase.

10. It can pay to get help

If you’re struggling to find the right mortgage deal, or you don’t know what you’d be eligible for or how much you can borrow, it is always a good move to have the help of a mortgage broker. They can research the market for you and help you through the application process so you don’t have to go it alone.

Here at Acres we offer a comprehensive mortgage service giving  independent financial advice, with access to the whole of market / high street lenders, often with exclusive deals. For further help please call any of our offices detailed below, or click to the link above.

Your home may be repossessed if you do not keep up repayments on your mortgage

Want to check how much your home is worth? You can get an Instant Valuation here.

If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:

Four Oaks                              0121 323 3088

Sutton Coldfield                  0121 321 2101

Walmley                                 0121 313 2888

Great Barr                             0121 358 6222

Lettings                                  0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale. 

Nigel & Jayne  Deekes – Acres Partners

Information provided by 

https://www.moneysupermarket.com/mortgages/first-time-buyers/top-ten-tips/

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Published: 18 February 2025

Hits: 344

Dreaming of a move, perhaps you’re looking for a larger family home, downsizing or perhaps looking for something a little different ?

Selling your home is a huge and emotional decision, it can be daunting. Understanding the process of selling will really help ease any stress. In this guide, we outline the steps you’ll need to go through, helping you to prepare for each stage, and potentailly speeding up the process.

Find out the estimated value of your home

One of the first things you can do is get an online estimated value of your property. Enter your postcode into our Instant Valuation here. to gain an approximation.  Our online valuation tool is based on powerful market data, although values do vary depending on the style of house, and variety of properties in your road.

Much better - Arrange a physical property valuation  

An in-person valuation allows Acres to see your property and to get a feel for the space, presentation, improvements made helping us to understand its features so as to highlight them to potential buyers, when ready. Nothing beats having Acres come to your home to have a comprehensive  look around thus giving an accurate property valuation.

Check your mortgage documents

You’ll also want to know how much you can borrow with a mortgage. Contact your current lender, if needed,  to check  your options with your current mortgage, as well as any potential redemption fees. You may be charged a fee if you’re ending your current mortgage early, so need to factor that into your budget. If you have a ‘portable’ mortgage product, you may be able to transfer your current mortgage to a new property, and top it up. It is always worth taking independent whole of market advice, here at Acres we are delighted to be able this service for you, please ask for details or click here to use our extensive mortgage, fees, stamp duty and other calculators

Choose the right estate agent

Choose an agent you feel you can trust to guide you through this process. Hopefully this will be Acres, we would be thrilled act for you.

Don’t choose an agent on fees alone. This is the sale of your biggest asset and you need to have an agent you feel confident in, has a proven sales record in your road / area and have you a rapport with. Their approach, market strength, depth of knowledge market exposure and methods should be just as important.  Acres will of course provide a proactive sales strategy, realistic asking price, and extensive, high calibre marketing. Please contact your local office to arrange a No obligation, Free Valuation  

Prepare your home

Getting your home ready for viewings is one of the most important things you can do, helping to create a sense of space and a blank canvas to help your buyer imagine themselves living there. The better your home looks, the more appealing it will be. First impressions count, it is amazing how many purchasing decisions are made within the first minute or two of a viewing commencing. Location is key, schooling, transport, and the general feel of the area.

Decluttering inside is hugely effective, so make sure it’s looking great for both the photos, and if possible viewings. Many buyers work from home, so it could be worth setting up an office or children’s play room, if space allows. Light, airy and spacious is the look buyers are after, And gardens are a big draw so a good tidy up and you’ll be onto a winner. 

Decide when to put your home on the market

Springtime is the best time for marketing your home. Between late January and June, the housing market bursts into action as buyers start looking for somewhere new.

The next best time is autumn, between September and October, as people hope to get settled into a new place in time before Christmas, and ready for the ever important school pacemnet offers in the new year.

The quietest times of the year for the housing market are in the summer, from July to August, when people are on holiday, or before Christmas, from November to December.

Set the right asking price

Once you’ve ready to market you need to decide the asking price. We will of course advise, and guide however if you feel it right to perhaps try a little higher to give some “ wiggle “ room, we will happy to try this for you perhaps for the first few weeks to test the market.

Nigel Deekes partner of Acres comments “ there is a fine line between a price that will generate interest, and one that won’t. “It’s all about footfall. Price your property too high and you won’t generate the necessary viewings. Reducing later on may send the wrong message to buyers  “

Energy Performance Certificate (EPC)

You legally need an Energy Performance Certificate (EPC). Your EPC provides information about your property’s energy use. If you don’t have a current certificate, for a small charge we can provide this for you.

How long will it take to sell my property and move ?

Once you’re on the market, the first few weeks are the most crucial time for your home to go under offer.

‘That first four to six weeks of marketing a property is so important,  says Chris Harvey manager of Acres Four Oaks ‘Your property is fresh on the market and it’s the best time to capture the maximum interest.’ Featured property listing on Rightmove, provided by Acres for all New Instruction means your property will top of the listing page for the first 7 day, BOOM ! Statistics show this can treble response compared to a “ normal “ listing.   

The whole process of selling a home, from the moment it’s first listed to the moment you hand over the keys to your buyer takes around 26 weeks on average.

However, selling a home is dependent on many factors and the process can be quicker, or of course take longer.

Find a solicitor

Getting a solicitor to act for you is as important as picking your agent. Once you have accepted an offer, they will administer the sale, and onwards purchase. Acres are able to offer referrals to excellent local solicitors at competitive fees, on a No Sale No Fee basis.

It’s never too early in the process to instruct your solicitor. You can ask them to prepare the contract, and if there is a managing agent, make sure they have the Seller’s Leasehold Information Pack ready, so everything is in place when you find a buyer.  Your solicitor is going to need some information from you – everything from title deeds and building control certificates for any work you’ve had done, to leasehold documents and boiler service history, so it’s a good idea to start digging them out. You will also be asked fill out forms about the property and what you're planning to include from it in the sale.

Offers received

It's an amazing feeling when the offers start coming in. So how do you know which one to accept ? We will advise if the offer is good, and take your instruction on and negotiate as needed with your buyers. We will check the chain, finance of the buyers, and seek to find how quickly the buyer is likely to be able to complete the purchase, particularly if you're in a hurry to sell.

Remember, you don’t have to accept the first offer you receive. If you receive more than one offer, we will seek the best buyer, at the best price and in the best position for you to help you make an informed decision.

Accepting an offer

When you get an offer, it doesn’t mean that the sale is finalised. Acres expert contract “ chasers “ will liase with you, both yours, and your buyers solicitors, surveyors and other parties to keep your sale on track. Be as flexible as you can about timings, and as efficient as you can about producing any requested paperwork. If needed we will arrange further reports and advice on the contacts of any of these. Once the joy of going under offer subsides, you may find yourself in the dreaded property chain.

This is the part when the surveys start happening and the solicitors get busy with all of the relevant searches they need to conduct on your property.

This phase can take anything between 8 to 18 weeks, depending on the complexity of the chain and the properties involved.

Delays in the conveyancing process are one of the biggest hold-ups in the buying-and-selling-a-home experience. 

Exchanging contracts

Once all parties are agreed there will be ‘Exchange of Contracts’, meaning that both parties are legally bound to the sale. Exchange of Contracts is the last stage of the legal process after which you cannot pull out (without losing your deposit and any legal costs you may have incurred).

At the point of contracts being exchanged, usually a 10% deposit from your buyer will be paid into your solicitor's account. The date agreed for completion is then fixed in the contract.

Between exchange and completion, you’ll be sent a statement showing the costs, the solicitor’s charges and the mortgage monies that are being repaid. If you are making an onward purchase at the same time, you may need to send a balancing payment.

Preparing to move out

The move will take a lot of preparation, and one of the advantages of having time between exchange and completion is that you can finalise your moving arrangements. This means you can do things like cancelling your home insurance in time for the move, and make sure you’ve read your meters. Sometimes there can be a very short time ( even the same day ) between exchange of contracts and completion ( moving day ) and so early preparation if this were the case will be needed

Completion and moving day

On completion day, the money for the sale of your home will be transferred from the buyer’s solicitor to your solicitor. You’ll need to remove all of your possessions from the property, apart from any items you’ve agreed to sell to your buyer, as they will be eagerly collecting the keys from Acres, or yourself dependant on the arrangements already made.

Once the cash has landed with your solicitor (it's usually done by CHAPS which can take a couple of hours), they’ll telephone you to confirm the completion and authorise key release.

Tax when selling property

If you’re selling a property that’s been your main home since you bought it, you shouldn’t  have to pay capital gains tax.

However, if you’ve previously rented out the property, capital gains tax may apply and will be calculated based on the amount of time it wasn’t your main home.

If you’re selling so you can buy a new home, you’ll also need to factor in stamp duty calculator here

What are the costs of moving home ?

Acres fees will vary dependant your properties value, and sometimes other factors, however rest assured they will always be highly competitive, and comprehensive, on a No Sale No Fee basis, in other words you only pay us a fee when you move ! That shows our confidence in being able to find a buyer for you.

• Next up it will be your conveyancing / solicitors
• Then your removal costs
• Mortgaging fees
• The costs for any other expenses, such as the EPC or survey
• Stamp duty – Use Acres calculator here
• This of course is not a full list as there may be other costs for your particular sale but these are the main costs

Are you thinking of selling your property and want to check how much your home is worth? You can get an Instant Valuation here.

If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:

Four Oaks                              0121 323 3088

Sutton Coldfield                  0121 321 2101

Walmley                                 0121 313 2888

Great Barr                             0121 358 6222

Lettings                                  0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale. 

Nigel & Jayne  Deekes – Acres Partners

Acres; proud to be family owned, managed, run and to have been serving the North Birmingham community for 33 years.

Details

Published: 16 February 2025

Hits: 183

Well what a year 2024 was !

The general election, a change of government, and the big Autumn budget. We of course saw a lowering of interest rates ( with more expected to follow ) and indeed an increase in confidence, activity and of course sales.

We are very pleased to report that the New Year, and reduced interest rates from lenders has helped bring buyers back into the market. Indeed, January, February and March were very strong with an excellent 80% more buyers being registered, leading to substantially more viewings being undertaken and most importantly, sales agreed.

With this in mind, as we approach the tail end of the winter, if you are thinking of marketing your property then doing so in March & April is a great idea, getting ahead of the rush of properties traditionally coming on to the market in April / the Spring - of course Easter is early this year as well.

If you would like to discuss your potential sale further, or are ready to market your property then of course we would be delighted to hear from you once more, either now, or in the coming weeks / months.

We very much hope we can be of assistance if you are still thinking of a move.

Should you have decided to put a move on hold for a while longer then as and when the time is right please give us a call, or drop us an email as we would be delighted to hear from you.

Want to check how much your home is worth? You can get an Instant Valuation here.

 If you would like to discuss selling your home, please get in touch with us This email address is being protected from spambots. You need JavaScript enabled to view it. or call any of our busy, helpful teams/offices:

Four Oaks                              0121 323 3088

Sutton Coldfield                     0121 321 2101

Walmley                                 0121 313 2888

Great Barr                             0121 358 6222

Lettings                                  0121 312 4997

Thank you for reading this article, and your interest in Acres and our property for sale. 

Nigel & Jayne  Deekes – Acres Partners