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The Galleries Mortgage Shop is a trading name of Gordon Lamb (Washington) Ltd, registered in England at 51/52 The Galleries, Washington Centre, Washington, Tyne and Wear, NE38 7SD (number 02574067), (VAT Registration Number 569534988).Gordon Lamb (Washington) Ltd is an appointed representative of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 435779) for mortgage and non investment insurance advice. The Financial Conduct Authority does not regulate some forms of Buy to Let.
Details submitted through our website are confidential. Any information will be used solely for the purposes of providing background information when contacting you to arrange an appointment / advice.
Gordon Lamb Residential Lettings offer a range of letting and management services to meet your individual needs whether you are a private homeowner, an investment landlord or a corporate property company.
We have compiled some information below which every landlord needs to consider when letting a property. The best advice however is to have our qualified and experienced expert come and visit you to discuss all areas in more detail.
Contact our office in The Galleries, Washington on 0191 419 2020
Consent to Let
If you have a mortgage we advise you obtain a letter of consent from your mortgage lender. If your property is leasehold you may require written consent from your landlord prior to sub-letting.
The Tenancy Deposit Scheme introduced in 2007 requires by law that any deposit taken is held in a Government backed scheme. Gordon Lamb Ltd will arrange this and details provided to the tenant. If a landlord wishes to make other arrangements we would require full details of the scheme being used.
Electrical Safety Regulations
A new part of the Building Regulations, Part P Electrical Safety came into force on 1 January 2005, which requires electrical works to be carried out by a qualified/competent electrician.
Implementation of the Housing Act 2004 has taken Part P Electrical Safety of the Building Regulations a stage further and Counsel’s Opinion confirms that to avoid prosecution should a tenant sustain injury, all properties to be let require a Portable Appliance Test (PAT) and a Fixed Wiring Test (FWT).
We advise that you obtain both a PAT and FWT for your property prior to the commencement of a tenancy
End of Tenancy
Where we manage the property, we will assist in setting any damages. However, as part of the Tenancy Deposit Scheme we will require both yours and the tenant’s express consent before we can disburse the deposit monies.
If there is no dispute we will keep any amounts agreed as deductions where expenditure has been incurred on behalf of the landlord or repay the whole or the balance of the Deposit according to the conditions of the Tenancy Agreement with the landlord and the tenant. Payment of the Deposit will be made within 15 working days of written consent from both parties.
Energy Performance Certificates (EPC)
From October 2008 landlords of residential rented property are required to provide all new tenants with an Energy Performance Certificate.
The EPC must be made available free of charge by a landlord to a prospective tenant prior to the commencement date of a tenancy.
Furniture & Furnishings Safety Regulations
Landlords need to comply with the Furniture and Furnishings (Fire) (Safety) (Amendment) Regulations 1993, which sets levels of the resistance for domestic upholstered furniture and furnishings. Any furniture within any part of the property must comply. It is an offence to breach these regulations and we suggest you obtain a comprehensive guide, including details of labels indicating compliance, from your local Trading Standards Office.
Gas Safety Regulations
The Gas Safety (Installation and Use) Regulations 1998 compel landlords to ensure all gas equipment is safety-checked annually by qualified persons, to keep records of work carried out on the appliances, and to obtain a Gas Safety Report (GSR).
The GSR must be available for a tenant at the commencement of a tenancy.
It is essential that you have the correct insurance when letting your property. Specific landlord insurance is generally required to ensure the property is insured correctly.
Gordon Lamb can provide a quotation for both landlords and tenants.
Inventories and Schedule of Condition
We strongly suggest having an inventory and schedule of condition prepared at the start of a tenancy. When managing a property we will ensure this is carried out thoroughly and check the property accordingly at the end of a tenancy.
The landlord accepts responsibility for all general repairs to the property, including all items supplied.
A tenants’ liability is for any damage to furnishings, decoration or items supplied over and above general wear and tear. On a managed service we will investigate any reported faults at a property and if it comes under the landlords responsibilities, estimates will be obtained and discussed with you for approval.
The Self Assessment system applies to all tax payers whether a UK or Overseas Resident. Landlords residing overseas may apply to the Inland Revenue for an approval number, which authorizes us to pay rent without the deduction of tax. However, where no approval number is available we are legally bound to deduct tax at the basic rate.
Landlords residing in the UK are responsible for their own tax affairs.
An Assured Short Term Tenancy Agreement will be drawn up meeting up-to-date legislation so that your property is protected and can be legally repossessed. Tailored clauses can be inserted to meet your own requirements, terms are usually 6 or 12 months. We would advice that a landlord have the agreement checked by their own legal advisor.
An independent referencing company will be employed to obtain confidential references prior to the start of all tenancies. These will include employer, previous landlord references and full credit checks.
Should the tenant fall behind with the rent, we will automatically adopt our arrears procedure and if we become aware of any other breaches of the Tenancy Agreement you will be informed accordingly.
We will visit the property every three months to ensure the property is been looked after appropriately. A report will be compiled along with any comments from the tenant.
Water Act 2003
The Water Act allows tenants renting a property for longer than six months to apply for a water meter without permission from a landlord.
Application fee (up to two adults sharing) is half month's rent plus vat with a minimum of £250 plus vat per property. An additional application fee of £50 plus vat per person is required in excess of two adults. If a guarantor is needed there will be an extra fee of £50 plus vat.
Initial monies consist of (all inital monies to be paid in cash):
Optional extras (if agreed)
Fees and commissions become payable where a tenant is introduced by Gordon Lamb Ltd whether or not the landlord proceeds with us as an agent. Should the landlord withdraw from a prospective tenancy where satisfactory references have been sought and legal documents prepared, the minimum fee will become payable.
This website is intended for people over 18 years of age who are resident in the UK only. The website and the information contained therein should not be regarded as an offer or solicitation to conduct business in any jurisdiction other than the UK. These pages provide generic information about various aspects of financial services advice that we provide. We hope they are helpful to you but they do not on their own add up to recommendations and we cannot take responsibility for anything you do in reliance on them without further discussion with us. Please do not make a decision based upon the information contained within these pages alone. Contact us for further advice to enable you to make an informed decision based upon your individual circumstances.’
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