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Is rental income subject to tax?
Income received from renting any property is subject to tax. With a fully managed letting service, Let’s Live will provide an account summary for your reference.
We strongly recommend that you take advice from your accountant in regards to all tax matters.
Do you offer free lettings valuations?
Yes, we provide free valuations.
Our valuation service is based on our lettings knowledge of the current market conditions in and around Birmingham . We will not over value your home just to get your instructions, because if we overprice your property it will take much longer to let and if it takes just one month to let because it is overpriced it could take you over a year to recover the income you lost in that time. For this reason our valuations are honest and achievable.
Do you offer a Let only service?
We offer, a tailor-made lettings solution, which provides flexibility to accommodate your changing portfolio and requirements and allowing you the freedom to have as much or as little involvement with the day to day as you wish. If you want us to market your property and source suitable tenants only, we’d love to help.
I work full time, can I view a property at the weekend?
Here at Let’s Live, we understand how busy both prospective tenants and landlords are and we work around the normal working day, so you don’t have to.
Unlike most lettings agents, we offer assisted viewings both evenings and weekends, including Sundays.
Do you offer fully managed services?
We provide a fully managed service for landlords who want very little day to day involvement with their property and their tenants. Your dedicated account team will manage the whole process of renting your property for you including rent collection, maintenance and tenant liaison.
How can I reserve a property?
To reserve a rental property, applicants are required to complete an online application form and pay a lettings administration fee of £225 + VAT; in total this makes £270 for one application or £255 + VAT = £306 for 2 applicants. For each additional applicant or guarantor it is £30+vat = £36.
We accept cheque, cash or internet transfer. If you wish to pay by internet transfer, please email us here.
Who looks after my deposit?
Lets Live are a Member of The Deposit Protection Service (DPS) (an authorised Tenancy Deposit Protection Scheme) where the deposit is registered and held against any damages to the property.
Legislation arrived in the Housing Act in 2004. For Assured Shortholds (with rents below £25,000 per annum, £2083 pcm) created after 6th April 2007 it is a requirement under the Act that landlords protect the tenant’s deposit in an authorised Tenancy Deposit Protection Scheme.
At the end of the Tenancy a final check out inspection will be carried out on all Fully managed properties by ourselves. If it is agreed that there are no damages or cleaning issues, then the deposit will be returned to the Tenants in full. However any damages to the property will be rectified using the Tenants deposit. If a dispute should arise, Lets Live will provide the paper work to DPS for arbitration. Their decision is final.
Download a Tenant’s Guide to The Deposit Protection Scheme here
Do I need to insure my property if I choose to rent it out?
As landlord you are still responsible for the building and accordingly the buildings insurance. It is advised that you inform your insurance company of your intentions to let.
The Landlord is responsible for items left and Let’s Live recommend that you have accidental and malicious damage cover, with your contents insurance. Tenant’s personal items will be covered by their own insurance.
How do I provide I.D.?
It is a legal requirement, we check and confirm all applicants identification. To do this, we require photo ID from all applicants.
Please can you scan and email either a passport [just the main photo page] OR driving licence [front and back] or if you could scan or take a high quality photograph, for example using a smartphone with a decent camera to take a close up photo will suffice. Alternatively they can be brought to the office.