We are a family run property management
company specialising in lettings since 1996.
Our aim is to find professional and quality
tenants for your property.
The Market Place offers a comprehensive management or tenant find service which is outlined below:
||Tenant Find Service
|Marketing to find a suitable tenant
|Obtaining tenant credit checks, referencing & identity
|Preparation of tenancy agreement
|Full inventory including pictures
|Collection of first rental payment
|Transfer of utilities
|Lodging of deposit
||Tenant Find - Further Fee
|Arranging of quotes, repairs & maintenance
|Access to vetted contractors
|Manage check out process
|Deposit negotiation & submission
Tenants expect a service in return for the rent they pay and prefer a property to be managed by a
professional. Offering 20+ years of experience, our staff are on hand to help. We have become a
market leader in terms of lets agreed and much of our business comes from recommendations. We
currently manage hundreds of properties on a daily basis so let the experts manage your property.
CLIENT MONEY PROTECTION & CODES OF PRACTICE
The Market place is a member of the national approved letting scheme, the property ombudsman
scheme and is registered as a safe agent. Being a member of these industry bodies insures landlords
and tenants the highest level of service.
Gas safety certificate
In accordance with the gas safety regulations 1998, every gas appliance and all gas pipework will need
to be certified as safe by a certified gas safe engineer. Inspections must be completed before move in
and be carried out annually thereafter.
Any property built after 1992 should be fitted with mains operated smoke detectors and alarms on
each floor under building regulations. It is now a legal requirement to install a smoke alarm on every
floor of a rental property. The inventory will record whether smoke alarms are present on move in.
CARBON MONOXIDE ALARMS
A carbon monoxide alarm must be installed in any room with a solid fuel installation (E.G. wood
burning stove). This should also be tested to ensure they are in good working order at the start of every
The electrical equipment regulations 1994 state that anything electrical within the property, or anything
that you supply as part the fixtures and fittings should be up to current electrical safety standards and
safe to use.
FURNITURE & FURNISHINGS
Furniture manufactured today must have a safety label stating it meets the furniture and furnishings
(fire) (safety) regulations 1988. It is a good idea to check that sofas, beds, bedheads, cushions, pillows
and furniture covers still have the relevant safety tag attached. Furniture manufactured prior to 1950
is exempt but it is best practice to remove vintage, antique or sentimental items from your property.
YOUR LEGAL REQUIREMENTS
ENERGY PERFORMANCE CERTIFICATE (EPC)
It is a legal requirement to have a valid EPC when marketing your property and a copy must be made
available to prospective tenants free of charge. The Market Place can arrange this for you and they are
valid for up to ten years. From the 1st of April 2018, all rented properties must have a minimum energy
performance rating of E or above.
CONSENT TO LET
Please remember to obtain permission to rent
the property from any co-owners(s) as well as
permission from any mortgage provider or
freeholder, if applicable. Ensure all property
owners are named as "the landlord" on the
TAX ON RENTAL INCOME
All rental income arising from property in the UK
is subject to tax. UK residents can usually
complete a HMRC self-assessment tax return to
declare this income. Overseas landlords have to
be taxed at source. We recommend taking
professional tax advice to ensure you are
maximizing your allowances.
As a landlord you must have buildings and
contents insurance in place at all times and
these should be specific to a rental property.
Even if your property is not furnished, it is still
worth considering having contents insurance as
some offer public liability cover, replacement
locks and potentially the cost of rehousing
tenants in the event of a fire or flood.
Unfurnished properties that contain white goods
such as a washing machine or fridge are still
worth insuring under a policy specific to a rental
property since the cost of repair/replacement
can be considerable.
LANDLORD FEES, CONTRACT
A tenancy agreement is the contract between a
landlord and tenant. Our reviewed agreement
has a direct impact on your ability to make a
claim on the tenant’s deposit and hold them
liable for rent. We will customise the contract
based on your requirements and requests.
The deposit is usually equivalent to one month’s
rent but this can be altered to your requirements.
We are legally required to register a deposit for
an assured shorthold tenancy every time a
tenancy agreement is signed. Failure to do so
entitles the tenant to make a claim against the
landlord and the penalty for non-compliance is
up to three times the deposit value. Landlords
and letting agents who take a deposit in England
must protect it within 30 days of receiving the
money from the tenant.
AT THE START OF THE TENANCY
CLEANING, INVENTORY & CHECK IN
Tenants expect a property to be professionally cleaned at the outset, therefore this requires the tenant
to return the property cleaned to the same standard at the end of the tenancy. An inventory will serve
as a record of the condition of the property at the outset and will be used to re-asses the condition at
the end of the tenancy. Wear and tear is to be expected during the course of the tenancy. The inventory
also records meter readings (when accessible).
It is normally the tenant’s responsibility to pay
utilities, council tax and TV licence. However,
you can adjust these if you want to include some
bills in the monthly rental amount. Utilities are
separate to ground rent, service charges,
buildings and contents insurance which remain
the landlord’s responsibility to pay.
Tenants are entitled to change utility supplier
during their tenancy.
AT THE END OF THE TENANCY
The check-out inspection should consist of high quality photos and a detailed room by room
description of the condition of the property. This dated report will be evidence of the cleanliness of the
property at the end of the tenancy which is critical if a landlord subsequently makes a claim against the
At the end of the tenancy the tenant is required to request the return of the deposit. The landlord must
inform the tenant of any proposed deductions. If there is a dispute on proposed deductions, then the
amount in dispute is transferred to the deposit scheme being used and their alternative dispute
resolution service will determine the outcome. This is an evidence based process decided by an
impartial qualified adjudicator. Remember that wear and tear will occur especially if a tenant has been
in occupation for a number of years. A landlord must also inform the tenant of any proposed
deductions for dilapidations and damages, but cannot claim for betterment. Landlords cannot use the
tenants deposit as a redecorating budget to improve the property condition, only to restore it to the
same condition as the start of the tenancy, save for fair wear and tear. Discussing deposit deductions
can be the most difficult part of being a landlord. Clients using our managed service benefit from The
Market Place conducting all deposit negotiations and evidence submissions on their behalf in the
event of a dispute.