Protection for Landlords

The Premier Rent Guarantee Scheme

In keeping with our commitment to providing our landlords with the best possible service, we at Michael Wood Homes are enhancing our product range stillfurther with the introduction of the The Premier Rent Guarantee Scheme, provided by HomeLet, the leading provider of specialist solutions to the letting industry.

The scheme provides peace of mind for landlords by combining the most comprehensive Tenant Assessment available in the market, with a 12 month Rent Guarantee Policy designed to protect your income should the tenant fall into arrears, and Legal Expenses cover to pursue vacant possession of your property, should this become necessary.

Features of the scheme include:

• Cover available for all types of tenants including self employed students and companies.
• No upper limit on rental.
• Full tenant assessment including employer's and previous landlord's references where appropriate.
• Credit history and voters roll check.
• 6 Month lead time from assessment to tenancy start date for students.
• Rent Guarantee covers up to 6 months rental payments.
• No excess on rent guarantee.
• Legal expenses cover for eviction up yo £50,000 following non payment of rent.
• No excess on legal expenses.
• Renewals available for a further 12 months (subject to conditions).

Remember: Even the best of tenants can have a change of circumstances during their tenancies that may lead to a default in the rental payments.

As a responsible letting agent, Michael Wood Homes strongly recommends that you protect yourself from this risk by taking advantage of what the Premier Rent Guarantee Scheme has to offer.

General Information

Furnished or Unfurnished: This is always a big decision for any landlord to make. Unfurnished is most popular as this minimizes your risks considerably. Should you decide to leave furniture in the property please ensure that all items meet the current regulations. Mail: It is strongly advised that you contact the Post Office to make arrangements to have your mail redirected to your new address from the date you vacate the property.

Income Tax

All income is taxable and is the Landlords responsibility to declare their income to the Inland Revenue and pay any tax that may be due. If you intend to live abroad, we are obliged by law to deduct the current rate of tax from you at source which you may be entitled to reclaim from the Inland Revenue. You can however apply to the Inland Revenue to have your rent paid to you without any tax deductions by obtaining a tax approval number (form NRL1). We do strongly recommend you seek advise from a qualified accountant on taxation as we accept no liability for any advise given to you by one of our representatives.

Gas safety certificate

All gas appliances in the property require a current gas certificate, which has to be issued by a CORGI registered contractor. Should you wish us to arrange for a gas safety certificate inspection to be carried on your behalf we shall be pleased to do so. Buildings & Contents Insurance: Having your property insured is essential. Most building insurance policies however are normally only valid when the policyholder occupies the property. As an introducer of HomeLet products we can offer you a competitive, comprehensive buildings insurance policy, which will cover the Landlord even though the property has a tenant residing in it. Further information on this and other Home Let products is available upon request. Renewing Your Contract: Approximately 10 weeks before the end of your contract we will write to you and offer you a new contract or give you the option to have your property returned to you.