At Sandfords, we pride ourselves on our exceptional experience and expertise in lettings and sales. We take care of searching for and securing an appropriate tenant, managing the property, and strive to provide effortless landlord services in central London and north west London.
Your property is important to us. We take the time to get to know you, your requirements and aim to exceed expectations.
Our experienced and professional consultants have intricate knowledge of the lettings market and can skillfully manage and promote your property.
Through our 30+ years, we have built an excellent track record for attracting trustworthy tenants to our premium lettings portfolio.
Ensure you have an appropriate mortgage or permission from your lender in place. Obtain the freeholder's consent to sub-let. Check your tax obligations as a landlord and instruct us to help you.
We can ensure that you comply with all of these:
We can assist you to make sure that your property is fit and ready to be let:
You must ensure that any furniture supplied has the required fire safety labels and is fire resistant. You can find further information on product safety. You must ensure the water supply is in working order and carry out a risk assessment to assess the risk from exposure to Legionella.
To let your property and collect the rent, we charge a fee of 12% of the rent for whole term of the tenancy including any extension or renewal. To include managemnet of the property, our fees are 18% of rent for the whole term of the tenancy including any extension or renewal.
Even if you own just one buy-to-let property, this has to be treated as a property business. You are required to declare your income and expenditure on your tax return, and so you may have to hire the services of an accountant to prepare your accounts for you. If you run your business as a limited company, you may also have to submit accounts to Companies House. Depending on the complexity of the work you can expect to pay anything from around £200 to over £1,000.
If you’re buying property investment, or you have tenant problems and need to go to court, you may have to hire a solicitor to assist you.
If you’re using a mortgage to buy your property investment, it can pay to speak to a mortgage broker. They can scour the market for you in order to find the most appropriate product and a lender that will agree on the mortgage you need. Many mortgage brokers charge a fee for their services, ranging from £250 to 1% of the loan amount. If you have taken out a mortgage to buy your property then your mortgage is likely to be one of your biggest expenses.
Any surplus earnings from your buy-to-let property are subject to tax at your marginal rate.
You can deduct certain allowable expenses from any rental income you receive. These expenses include property repairs and maintenance, professional fees, and buildings insurance premiums.
New rules for tax relief on mortgage interest payments came into force in April 2017 and these restrict the tax relief you can claim on these interest payments. From April 2020, only basic rate tax relief will be available.
While buildings insurance is not a mandatory requirement for landlords (unless you have a mortgage, in which case your lender may insist on this), it’s recommended that you protect your property against damage or destruction by taking out suitable buildings insurance.
One of your major expenses as a landlord will be repairs and maintenance to the property. This can range from redecorating between tenancies to repairs to the structure of the property. There may be other maintenance costs: for example, the installation of a new boiler.
We are transparent about our fees for landlord services in north west London and central London. Get to know what you will be paying for.
We are experts in the lettings market. Our guide shares the key information you need to know when letting your property.