For Landlords

For Landlords

Landlords feel confident in leaving their properties in the hands of Japan Homes. We have a good track record in our tenants returning property to you in it’s original condition.

If you have residential property in North, West or Central London, you may be thinking to let or re-let it. We can look after;

  • your rental payments/accounts
  • day-to-day management,
  • emergencies,
  • refurbishment needs,
  • re-letting

We can pay your rent via the BACs system (bank to bank Electronic payments), avoiding the danger of lost or delayed cheques.

If you are thinking of purchasing investment property to let in London, talk to us first, before buying. We have more than 25 years experience, specialising in letting mainly to Japanese business people, diplomats, professionals and their families, a group which tends to have quite specific requirements on the property they are looking for. We can guide you on the best areas, type of property as well as furnishing and decoration.

GUIDELINES

OPTIONS:
As a prospective landlord you are offered two options: either our standard services (see “OPTION A” below) or full management (see “OPTION B” below). However, if you are reside outside the UK only “OPTION B” is available.

ABOUT TAX:
The income earned from a property let in the UK is taxable, whether or not the Landlord lives in the UK.

Overseas Landlord
If the Landlord resides outside the UK or in the Channel Islands or Isle of Mann, for more than 6 months of the year, the Agent becomes liable for tax on the rent income. Therefore, if you live overseas, income tax at the standard rate will be deducted from gross rental payments unless an exemption certificate is received from HM Revenue and Custom. (Please contact us for more details)

EXCERPTS FROM OUR TERMS & CONDITIONS

OPTION A: Introduction of Tenant (12% including VAT on gross annual rent)

This includes the following:

  • Introduction of a suitable Tenant.
  • Preparation of both sets of agreements (one for the Landlord and one for the Tenant).
  • Obtaining references as required.
  • Checking of the property prior to tenancy being taken up.
  • Arranging the transfer of utilities, i.e. Gas and Electricity to new Tenant and checking final accounts raised at the commencement and termination of the tenancy.
  • Collection and accounting of rent as required.
  • Up-to-date statements of account as required.
  • Negotiation for the renewal of tenancy.

OPTION B: Full Management (18% including VAT on gross annual rent)

This includes the following:
All of the services set out in OPTION A above.

  • Inspections of the property on request.
  • Day-to-day management of the property, dealing with repairs to a maximum cost (EXCEPT IN EMERGENCIES) of £360.00 (inclusive VAT) at our discretion.
  • Dealing with emergencies at our discretion even above the £360.00 (inclusive VAT) limit.

Other fees
The charge for preparation of a Tenancy Agreement to the Landlord is £120.00 including VAT and for preparation of any renewal/extension document is £72.00 including VAT

The administration charge for registration of the Deposit on behalf of the Landlord in accordance with the Housing Act 2004 is £30.00 including VAT. The same charge is applicable for re-registration of the Deposit upon any renewal/extension of the tenancy.

GENERAL POINTS:
We provide the following information for your convenience :

a) INSURANCE
It is the Landlord’s responsibility to insure the building and contents.

b) UTILITIES
All utilities, i.e. gas, electricity and telephone, should be available and working.

c) CONSENT TO SUBLET
It is the Landlord’s responsibility to obtain written consent to let from his/her mortgage company and head lessor, where necessary, PRIOR to the commencement of the tenancy (and prior to each renewal of tenancy).

d) HEALTH & SAFETY REGULATIONS
(i) Furniture – according to regulations introduced early 1994, new lets must comply with standards laid down in the Furniture (Fire) and (Safety) regulations 1988. It is an offence to let property with furniture which does not meet these criteria, for example, that the furniture should not burst into flames if set alight.

(ii) Gas – Under the new Health and Safety Regulations effective from October 1994, all gas appliances in all rented properties must, as a legal obligation, undergo an annual service and safety check by a British Gas or CORGI registered installer and you should keep a record (certificate) which should be available upon request by the tenant.

iii) Energy Performance Certificate - By law as from 1st October 2008, all rental properties with a new tenancy in England and Wales will be required to have an Energy Performance Certificate (EPC)

e) DEPOSIT
Japan Homes will hold a deposit equal to one month’s rent against any damages or dilapidation.

e) TAX
If the Landlord is resident abroad, Japan Homes as managing agents of the property are liable for income tax on the rental income. Therefore, unless Japan Homes receives from HM Revenue and Custom an exemption certificate in respect of tax due, Japan Homes will be obliged to retain an amount equal to the standard income tax rate at the time, of the Landlord’s gross rental. Should the Landlord not have an accountant acting on his/her behalf, Japan Homes can arrange for their accountant to deal with this matter for a separate charge.

f) MAIL
It is the Landlord’s responsibility to arrange for the redirection of his/her mail. We cannot guarantee that the tenant will forward your mail to us regularly.