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Tel: 0151 648 5522

Q.

Should I let my property furnished or unfurnished?

A.

As a general rule the majority of rental property nowadays is let unfurnished. We have found that most landlords on the Wirral and in Liverpool would generally be expected to provided carpets, usually cooking facilities and sometimes kitchen white goods. Any electrical appliances in the property must be in good working order. It must be remembered that the more goods you provide in a property the higher the chance of faults occuring for which you will liable. Most tenants, especially families have their own furniture and when their furniture is in place they often remain as tenants for many years. The exception to this is high end professional lets to singles and couples who often are more mobile, prefering to pay a premium for the convenience of not having to use a removal van every time they change location.

Q.

Who insures the property and contents?

A.

As a landlord you should insure the building (most areas of Wirral and Liverpool have fairly low insurance bandings) and the in case of a furnished property the contents as well. Most landlord specific policies include an element of public liability insurance which we feel is essential. Most mortgage lenders of buy to let property will require insurance to be in place as part of their terms and conditions. If you do not have insurance in place or your insurance is due for renewal we can recommended a specialist landlord insurance provider who provides high level of cover at prices that are hard to beat.

Q.

Who pays the utility bills

A.

Tenants are responsible for gas, electricity, water, council tax, telephone and tv licence costs. Wirral and Liverpool councils are well aware of this arangement and are quite used to transfering requests to new tenant when they move in. Also it is the tenants policy to ensure that they make arrangements to pay these bills we will always given them written confirmation of this. It is fairly common for landlords of leasehold properties to be responsible for paying monthly service charges as these contain elements of building insurance and usually public liability.

Q.

Who is responsible for maintaining the property

A.

The bulk of this responsibility lies with the property owner or their appointed agent. It is a requirement that the property is kept in a safe and habitable condition. Any plumbing, electrical, heating, roofing or structural problems need to be dealt with by the property owner or agent. It is not however the landlords responsibility to redecorate a room that is otherwise satisfactory if the tenant does not like the colour of the walls, to install double glazing in a house with single glazing or repair deliberate damage caused to the property by the current tenant.

Q.

How much will it cost me in repairs each year for my property?

A.

There is no easy answer to this question! The best way to estimate this is to think about your own prime residence, ie. the house that you live in, and then work out how many times each year you need to instruct someone to perform repair work for you. If your property is in good condition then there are likely to be less ongoing problems than in an older property which has had little attention for many years. Although this repair and maintenance work is very frustrating and may feel like 'dead money' it is essential that you account for these costs on an ongoing basis (rather than just waiting to pick up the monopoly card which states 'make general repairs to all your properties now' and wondering why nobody told you about it!)

Q.

I used to live in the house that I now plan to rent out. Do I need to tell my mortgage company about this.

A.

Yes. If you do not inform your lender and they discover that you are renting out your property they may decide to recall the mortgage. Once you have informed them there is a possibility that they may alter your mortgage rate and ask to see a specific landlord insurance policy. If your costs increase as a result of this then it is worth considering switching to an interest only mortgage. If you require specific mortgage advice we would be pleased to put you in touch with a specialist buy to let mortgage broker.

Q.

I am thinking about buying a property to rent out, which areas should I be looking in?

A.

We would be more than happy to help you source property for investment and can recommend specific areas of high tenant demand. If this is something you would like more information about then please call us on 0151 648 5522 for details.

Q.

Why should I choose Five Estates?

A.

here are many reason listed on the 'why choose five estates' page of this website, but in a nutshell we feel that the experience we have aquired as 'hands on' landlords in the Wirral and Liverpool area gives us a very strong foundation with which we can promote your property and allow you to be 'hands off'. We will do our best for you, your property and your tenants.