Letting Management FAQs

Quantum has been involved in letting management in York for some time, and we understand not everyone has the knowledge our team’s gathered over the years. To make life easier for both our landlords and our tenants, we’ve put together this new article with some of your most common questions.

However you approach it, we hope this roundup helps to demystify the letting process!

Since Scotland and Northern Ireland have slightly different procedures, these questions only apply to tenancies in England.

Landlord FAQS

bedroom with desk and chair

With 60% of the UK’s net wealth coming from property, being a landlord is a popular choice for UK citizens. These FAQs will help you understand what’s expected of landlords in England.

What is the most popular tenancy called?

The most popular tenancy nowadays is known as an assured shorthold tenancy. These run for a fixed term of at least six months. After this fixed term ends the tenancy automatically becomes a periodic tenancy, which the tenant pays for on a month-to-month basis.

You can learn more about tenancies in our guide to the subject.

What do landlords pay taxes on?

A landlord may need to report their income on a Self Assessment tax return, based on how much they earn from their property.

· If you make £1,000 or less from your property in a year, you don’t need to pay tax on that income.
· If you make between £1,000 and £2,500 a year from property rental, you should contact HMRC.
· If you make between £2,500 and £9,999 a year after allowable expenses (like insurance, utilities and accountant’s fees) or £10,000 before these expenses, you’ll need to mention it on your tax return.

How much should I charge for a deposit, and what do I do with it?

For new and renewed tenancies, landlords in England can charge no more than five weeks’ rent. If the annual rent is £50,000 or more, they can charge six weeks’ rent. Once a landlord receives a tenant’s deposit, they must place it in a government-approved scheme within 30 days.

Landlords have several other responsibilities, which you can learn about
Wondering here.

What does a managed let service offer?

A managed let offers several advantages. These include professional support, rent collection, property inspections, and post-tenancy negotiations (if the property is left untidy, for example.) You can learn more about our managed service here.

Should my property be let furnished or unfurnished?

This depends on the area you are letting in. If you’re letting in a student area with plenty of furnished lets—for example—an unfurnished let will be difficult to populate unless you offer something extra. We’ve weighed up the benefits of furnished and unfurnished properties in this article.

What do I need to do when buying a property with a live-in tenant?

We recommend contacting a legal lettings specialist to make sure you’re following the right procedures. You should talk to the tenant about their plans, and avoid putting them under pressure to make a particular choice. We at Quantum can put you in touch with the right legal professional.

What area of York should I buy a property in?

York has several great regions that are popular with different groups (like students or young professionals). To help you make an informed decision, we’ve written a series of location guides on the York area. You can see the complete range on our Letting Guides page.

Tenant FAQs

students around a table

Renting is a very popular option for home hunters in the UK at the moment. Use our tenant FAQs to better understand what you need to rent in the UK.

How much does it cost to rent in York?

The average rent for a two-bedroom house in York is £1,019 pcm, while an average flat costs £1,191 pcm. This average may vary across different areas of York. The median rent across York’s different areas is £776 pcm.
Homes with two bedrooms are the most popular property type in York, though flats continue to grow in popularity as well.

What information do I have to provide to landlords?

Typically, landlords require proof of identity and employment. They will also require the address and contact details of your previous landlord, as well as a credit check. This process may be known as referencing.

Can the landlord enter the property?

Yes, but they must give you 24 hours’ notice in writing before doing so. They must also visit the property at a reasonable time, e.g. during the day, rather than in the middle of the night. A landlord can enter your home without permission in emergencies; examples include fire, flooding, extreme structural damage or suspected criminal activity.

What happens to my deposit?

A landlord or letting agent is bound by law to place it in a government-approved scheme. In England, there are three different schemes to choose from. If you move out of a property, you will get your deposit back within ten working days.

What do I do if repairs are needed?

Wear and tear happens in every property; if you aren’t being especially careless, it shouldn’t be a problem. Contact your landlord or letting agent as soon as you notice a problem with the building or a specific item. If it’s an appliance or electrical item, you should have it repaired as soon as possible.

What insurance do I need?

Your personal belongings are your responsibility, and we recommend insuring them. Contents insurance should cover the loss of these items. A landlord or letting agent may suggest an insurance provider to you, but you’re under no obligation to take out insurance with the people they suggest.

Can my landlord increase the rent?

Yes, but they are bound by certain rules. A landlord must agree the increase with you before it comes into effect, and they must wait until the initial fixed term has come to an end. If you’re renting under a periodic tenancy, a landlord can only increase the rent once a year. Quantum can support you if there are any concerns or disagreements.

Letting (or renting) a property can be an intimidating prospect. However, we at Quantum are here to help make it as stress-free as possible.

Quantum is a family-run business, and one of York’s biggest independent estate agents. We work hard to provide useful information to the landlords in the area; want to learn more about becoming a landlord, or how to keep your tenants happy?
Wondering what responsibilities you might have as a landlord, or what tenancies are available in the UK?
We’re on hand to help.

If you’re coming to York as a tenant, we have plenty for you as well.
Want a guide to renting for beginners, or what happens if a landlord sells your home?
If you’ve come to York to study, why not check out our student guide to York, or how to find the perfect student flats? If you think you’ll be here for a while, our renter’s journey through York could be just what you’re looking for.

If you’d like to speak to us in person instead, we can’t wait to hear from you. Call us today on 01904 631631, or visit our Contact Us page for additional options.

Landlord Location Guide: South Bank

Buying a property to let (or moving to a new area) is always a big decision to make. To help you better understand what York has to offer, we’ve produced a series of location guides that break down York’s amenities. We have plenty of experience in selling and letting property, and we’re known as a […]

York Market Insights: Summer 2019 Edition

Thinking of buying, renting or letting in York? A mix of news stories, as well as people’s general feelings across the country, strongly influences the UK property market. As such, some people refer to it as a “sentiment-led” property market. To help you make an informed choice about York properties, we’ve brought together key news […]

Properties for Sale

View all our properties for sale in York & the surrounding area. Use filters to specify search location, radius, property value and more.

Properties for Rent

View all our houses and flats to let in York & the surrounding area. Our viewings include Sundays, so you’ll find your new place fast.

Own a property?

Whether you’re looking to sell your house in York or want to let out your property, our experienced team can help.