Service charges are charges that are levied by landlords or freeholders for costs they incur in relation to the maintenance, upkeep or insurance of a property or for providing any services. These may include costs for a managing agent. Details of what can be charged will be set out in the lease so check what is rightfully claimed. Examples of these are cleaning or maintenance of common parts, improvements, gardening, heating, maintaining any services such as lighting or lifts, insurance, security etc. The landlord or freeholder is not obliged to provide any services other than what is provided for within the lease and the leaseholder is not obliged to pay for any services being claimed that are not provided for in the lease.

When you buy a leasehold property, usually a flat, you have to pay ground rent for the land the property is standing on. It’s usually paid annually or every 6 months with any service charges due.

In a freehold - you own the land and the building completely. In a leasehold - you own just a right to live in the property for the duration of the lease, at the end of which you own nothing so if you buy a leasehold flat you buy the right to live there but you don’t actually own the property. Generally being a freeholder is more desirable. Freeholders can have responsibilities in the deeds if there are other leaseholders present e.g. where you own a building but sell the flats individually to different owners who each get a leasehold of their own flat. Leaseholders in a block with several properties often choose to buy the freehold between them, giving them each a share of the freehold and more control over the management of the property. Share of freehold means that when you buy the lease on a flat, it comes with a share of ownership of the building. ‘Commonhold’ ownership is a new system allowing you to own your flat outright in the same way as a freeholder owns a house so there is no landlord to pay. At the same time you will have a share in the common areas of the building including the roof, walls, stairs and hallway - and be partly responsible with the other commonholders for the upkeep of those areas. The idea is that a commonhold association is set up to manage the communal areas of the building and flat owners who don’t want to get involved in the extra work can appoint a managing agent. The price of a commonhold flat could well be higher than a leasehold one, but any difference is likely to be small. This would come from the fact that leaseholds dwindle over the years and so the nearer they get to the end, the less they are worth. Commonholds are open-ended.

Once the property has been surveyed, your formal mortgage offer received and your solicitor has made all the relevant legal checks, you will then be ready to exchange contracts, sign your mortgage deed and then complete your purchase which is when all money transactions are completed. This is usually between 2-4 weeks after exchange but can be on the same day or at any time as agreed between the parties. All that’s left to sort out now is the moving date.

The next step is to get a survey done and your mortgage company will want to arrange a valuation survey to check that they are willing to lend on the property you want to buy and that you are not applying to borrow more than the property is worth. There are three main types of survey available: a valuation survey - which covers valuation only, a homebuyers report – which includes basic info about the fabric of the property and any superficial defects and problems, and lastly a full structural survey – an in-depth report on the property’s construction, condition, any defects and problems. What you choose will depend on the nature of the property you are buying – you never know what problems exist so check what is best for you.

You need to be able to act quickly to secure the property you’ve found which is why it’s important that you sort your finances out as early as possible so you know exactly what your budget is. You are then ready to make an offer and once this is agreed in principle, you can then get the ball rolling on the purchase. The next step is to obtain your written mortgage offer (mortgage offers are often agreed verbally before you find a property) and then instruct a solicitor to deal with all the legal aspects of the purchase.

When you know how much you can afford you can then decide on location, how much space you need and can afford, what kind of layout will work for you and any other specifics relevant to your needs. Make a list of what’s important, what’s nice to have and start from there. If you’re buying to let, choose an area that has a stable rental market and has good access to amenities, transport etc. Make a list of areas, postcodes or even streets that appeal to you and make the time to look around and research the area to familiarise yourself with what it’s like and what’s going on. Ask yourself all the relevant questions – do you need schools nearby, shops, nightlife, buses, tubes or trains, do you need parking, do you travel by car a lot and need easy motorway access? Work out what’s most important for you and go from there.

It’s a good idea to work out how much you can realistically afford before you get serious with your search, that way you can be sure of what your budget is and you won’t get disappointed falling in love with a property that you can’t afford. Also it enables you to provide specific instructions to your agent which will help enormously with your search. Starting with your net monthly income work out what all your realistic outgoings are and what you have left over is your ‘disposable income’. Ideally you will need to have a 10% deposit but some developers offer deals as low as 5% with additional benefits like paid legal expenses, stamp duty or cash back. With this information, your mortgage advisor will be able to quickly work out what you can afford with examples of what the monthly repayments would be on different types of mortgage deals. Be realistic about what you can afford so you don’t run into trouble early on with your repayments.

If you invest in property and you keep up your mortgage payments on it, it is unlikely that you will loose out, in fact there is a good chance you will make a considerable capital gain over time. Remember, property investment is for the mid to long term and not short term so don’t have unrealistic expectations. This is providing of course that you buy a property free from any structural defects, that any other factors affecting property values remain positive and that you keep the property well maintained and properly insured. Buy in a location where there is steady demand for renting and the property should pay for itself. The biggest risk for private landlords is poor management on their part and bad tenants which can lead to serious cash flow problems if the rent isn't paid on time, the property is damaged or you get into a dispute with a tenant. You can be held responsible if you do not comply with the law, particularly on safety issues or tenant harassment.

You can but your property is always better let out than left empty even if it’s not earning you as much as you’d like. It will cost several thousand pounds a year to leave the property empty - in lost rental income, council tax, additional insurance and security charges, and general maintenance. There is also an increased risk of squatters or vandals so let it if you can.

Most tenants will leave with adequate notice but if yours won't you must not under any circumstances try to evict or force the tenant into leaving. You have to apply via the court to get possession of your property back.

You can end the tenancy at any time after 6 months, provided any fixed term you agreed has ended and you have given a full 2 months' notice using a Section 21 Notice. You need to give your tenant 2 months written notice that you want your property back. You can seek to end the tenancy at any time if your contact has been breached on certain and specific ‘grounds’ as set out in the legislation. These include rent arrears, anti-social behavior and any damage caused by the tenant.

Whilst other tenancy agreements exist, most people renting have an Assured Shorthold Tenancy Agreement which usually lasts for a minimum of 6 months. You can agree to a set term e.g. 6 or 12 months, or you can leave the term open ended. Once the initial 6 month period ends you have the option of renewing for another fixed term or allowing the tenancy to run-on on a periodic basis, this being the rent period - monthly or weekly. The tenancy then becomes a Periodic Tenancy.

There is a lot to learn about letting property and whilst it’s perfectly possible for you to let and manage your own property you may prefer to use the services of an experienced letting agent. It may be advisable to use an agent until you are confident about doing it yourself or if you live a long way from your property and will find it hard to manage. It’s not always best to rely on friends or family to manage your property and could be asking for trouble. Letting a property is a considerable responsibility which only a committed landlord or experienced letting agent should take on. Don't do-it-yourself purely because an agent will not accept your property if it does not meet the basic letting regulations. You are taking big risks if you let a property which does not meet the basic requirements.

It is against the law to forcibly evict or to harass a tenant to leave i.e. cutting off services or threatening them. To evict a tenant you need to gain a court order for possession. If you don’t you are then liable for criminal prosecution and/or a claim for damages by the tenant.

If you are worried about the prospective tenant’s ability to pay the rent then it is a good idea to take a guarantee from a third party. You should still do all the relevant checks on the guarantor as you would with the tenant.

Most tenants prefer unfurnished properties as they tend to have their own furniture and white goods, and prefer to create a home in their own style. Short term corporate lets are very different requiring a property to be fully furnished and fully equipped, but the longer term residential rental market is more common. If you are furnishing or part-furnishing, there is not a huge difference in the monthly rent but this option might be more attractive to some tenants. You don’t need to furnish with expensive furniture just decent good quality furniture that meets the relevant regulations.

Ensure your property is clean, in good decor and well maintained so it gives a good impression when prospective tenants view it. That includes any garden too. Don’t leave rubbish or old furniture lying around, clear it up. Also:

• Reduce the rent: if you can't let your property at the price you want, then try reducing the rent
• Be less picky: for example, if you've asked for non-smokers or no pets then re-consider this. A good local cleaning company should be able to get rid of any smells quite easily and relatively cheaply. It’s infinitely better to have a property rented to a smoker or pet owner, than to have it empty earning no income.
• Furnish or part-furnish the property: this doesn’t need to be expensive furniture but should be in good condition and meet all fire regulations. It’s not a guarantee that the place will attract tenants but consider this if you’re getting calls rejecting the property because it's unfurnished.

If you have a mortgage or are going to let a leasehold flat, you need to check to see if you need permission from your mortgage company, freeholder or landlord before letting. If consent is not obtained, this could have serious consequences, including the lender or landlord taking possession proceedings against you. Your mortgage company may impose conditions for letting which you should comply with.

There are the obvious financial gains from becoming a landlord and many private landlords do it to provide a second income. Make sure you are suited to being a landlord because not everyone is. It can be stressful if you don’t vet and choose your tenants properly and you might find yourself out of pocket trying to evict a bad tenant who’s not been paying the rent. Financial gains can be good and total returns (income + capital gains) have been as high as 25% in recent years but the property market goes up and down in cycles.

You have a number of obligations as follows:

• Repairing covenants: under the Landlord and Tenant Act 1985, the landlord must look after the structure and exterior of the property and the installations for the supply of services (gas, electricity, water, sanitation and heating). The landlord should also look after the roof of the property, drains and gutters.
• Gas safety: under the Gas Safety Regulations a landlord must have any gas equipment at a property inspected annually by a CORGI registered plumber and provide a copy of the gas safety certificate to the tenant.
• Furniture, electrical equipment and general product regulations: these regulations require furniture to be fire-resistant, and all electrical equipment and other items in the property to be safe.
• Covenant of quiet enjoyment: tenants should be able to live without any interference. The landlord cannot enter the property without the tenant's consent (except in an emergency), should keep the property in a proper condition, and should not do anything or allow anyone else to do anything which would affect the tenant's rights e.g. cutting off any utility services to force a tenant to leave.
• Insurance: the landlord has an obligation to insure the property building but tenants are responsible for insuring their own possessions.

Here are some of the most common obligations as a tenant:

• Repairs: the tenant is responsible for the condition of the interior of the property and for keeping it clean and well looked after. If you want to redecorate because you’d prefer a different colour scheme, you may be restricted in the tenancy agreement from doing this so get permission in writing from your landlord first. You will normally need to redecorate the property leaving it in its original condition when you leave. You must pay for anything that is broken or damaged in the property during the tenancy and your landlord can deduct the cost of this from the holding deposit if you do not repair or replace.
• Outgoings: unless the tenancy agreement specifically says otherwise, you are responsible for paying all the outgoings for the property including gas, electricity, water, council tax or other taxes etc. If you sign up for other services like telephone, broadband, SKY/ digital TV etc, you are responsible for payment of those services. If there are any accounts that the landlord has agreed to pay, this will be stated clearly on the tenancy agreement.
• Use of the property: you must only use the property for residential purposes and not for commercial or other business purposes otherwise you will be in breach of your tenancy and may put the landlord in breach of planning regulations. Only you and any other tenants named on the tenancy agreement can live in the property. You must not sublet any part of the property to another person or you will be in breach of your tenancy agreement. The landlord will want to prevent a tenant from letting anyone else live at the property as he will only want tenants whom he has checked and approved living there.
• Access: your landlord has a right to visit and inspect the property from time to time to ensure its being kept in good condition or to do any repairs and must give adequate notice of a visit. It is usual for a landlord to retain a set of keys to the property however they should not be used without your consent, except in an emergency.

Apart from the obvious things like condition, cleanliness and whether the space works for you, here are some additional points to consider:

• Kitchen - Is the kitchen big enough to accommodate a small dining table and chairs? This is a good idea if there is only one reception room/ lounge and turns the kitchen into a kitchen-diner.
• Bedroom size – how many bedrooms do you need? If the smallest bedroom is smaller than 6' 6" in any direction then it's not really a bedroom as you need to be able to get a single bed into a bedroom so you could use a small room as a study, baby’s room or store room. Think about what your needs are, what furniture you have and how it will all fit in.
• Bathroom - Is there a fitted shower? A bathroom is a lot more practical if there is a shower as well as a bath or shower inside a bath particularly for sharers.
• Gas appliances - Make sure any gas appliances work including any central heating and that there is a current CORGI Gas Safety Certificate in place for any gas appliances including hob, oven, GCH or gas fire.
• Furniture – If you don’t have any, ask if furniture is available. If part-furnished, check the condition of any furniture present and if you are bringing all your furniture make sure you can get it in so check door sizes.

Renting a property has never been easier and we can help make your move trouble free. It is important to match the right tenant with the right property ensuring you can afford the rent. If you are interested in renting one of our properties you need to be ready to provide references and a deposit which can be done online to secure a property. We offer a tenant referencing service which includes taking full references on your behalf and making credit checks for all the prospective tenants on the tenancy agreement. We need to ensure that you will be responsible and reliable tenants that will look after the property being rented and pay your rent on time. The checks we make include but are not limited to the following checks and only original documents will be accepted:

• Credit Checks: it is standard practice for us to carry out a credit check on every tenant.
• Employer's References: reference should include details of annual salary, position held within the company and terms of employment – the reference must be supplied on headed paper.
• Previous Landlord/ Letting Agent References: where appropriate we require a reference from your previous landlord or letting agent confirming you rented with them, length of rental, what type of tenant you were and if you paid your rent on time.
• Payslips: we require your last 3 months payslips (minimum).
• Bank Statements: we require your last 3 months payslips (minimum).
• Self Employed: accountant reference confirming turnover and net profit, period they have acted for you and if they feel you are in a financial position to meet the rental payments.
• Character Reference: supplied by a qualified professional person i.e. doctor or accountant, or other professional who has known you for at least 2 years. Ensure any headed paper confirms their qualification with full address and contact telephone numbers.
• Guarantors: where a guarantor is required we will need the same references on that person as stated above excluding the character reference. In addition they will need to sign a deed of guarantee.

We process the tenancy application on your behalf, prepare the tenancy agreement and /or inventory, liaise with the landlord and check you into the property. Tenant referencing fees are payable for this service plus a fee per additional tenant (for additional credit reference checks). Please contact us for further details.

A Home Information Packs (or HIP) is a set of documents provided by the seller to the buyer that provides important compulsory and optional information about the property such as: HIP index, new property information questionnaire, Energy Performance Certificate (EPC), sale statement, evidence of title, standard searches and copy of lease (if leasehold). It is a legal requirement to have a HIP and a property cannot be sold without one -from 6 April 2009 must be available from the first day your property is marketed. The seller is responsible for the cost which can vary so shop around.

First you need to find out what you property is worth so you need to get an accurate valuation and instruct a good agent to list your property for sale. After tidying and sprucing up your property, it’s ready for viewing and once you’ve found a buyer, you should have a written confirmation of the offer being made from your agent. Serious buyers are those who have a clear idea of what they want, have a mortgage offer in principal and deposit and are ready to get the ball rolling. You then need to agree what’s included in the sale (any extras, furniture, curtains etc) and what’s not, agree dates for the buyers survey to take place and agree potential dates for exchange and completion. You should have a solicitor instructed by now who will deal with all the legal aspects of the sale - dealing with preliminary enquiries, drafting the contract, dealing with the HIP, and collating all the legal documents like title deeds, copy lease, planning consents, building regulations and if leasehold, any service charge accounts etc. Once all the legal documentation is in order, you will be ready to exchange contracts and the deposit usually 10% will be paid to your solicitor. A date will be set for completion, usually within 2 to 4 weeks of exchange although this can be simultaneous with exchange and completion on the same day. Completion is when all money transactions are completed with the balance of the purchase monies being transferred over to your solicitor when officially your property is now sold.

It’s hard to see the space we live in objectively when it comes to selling so it’s really important to remember that first impressions count. Look at your home through the eyes of a potential buyer and make a list of what needs doing in each room. Also:
- Clear out any unwanted rubbish or clutter and put any excess furniture or belongings it into storage if necessary. The more space you create through de-cluttering and clearing out, the better impression a buyer will get. Remember buyers want to imagine themselves living there with their furniture in place so make space.
- Clear up any outside space and tidy the garden – mow the lawn, trim any bushes or shrubs and pull up the weeds. Buyers will be put off by a messy garden or dirty path.
- Now’s the time to do a few runs to the recycling centre to get rid of stuff you’ve been meaning to throw out for ages.
- Redecorate or renew where necessary and don’t think buyers won’t notice marks on walls here and there because they will. A bright colour scheme may have been perfect for you but it might not suit everyone so keep things as neutral as possible. A quick coat of paint can work wonders.
- Keep your house as clean and bright as possible - open curtains or blinds and air rooms out.
- Remember, buyers make their minds up about a property in the first 60 seconds of walking in the front door so spending a little time and money upfront on making it saleable will get you a better price and help you sell more quickly.

When you list with just one agent (sole agent) you will pay a lower commission fee when you sell than if you list with several (multiple agents). A good agent who markets your property effectively and proactively should be able to get the sale you’re looking for thus saving you money.

No, you don’t have to, but a surprising number of enquiries come from buyers who have seen a 'for sale' sign while looking around an area they like so they work in your favour.