Guide to Letting Your Property

During your valuation appointment, we will inspect your property and provide an accurate and researched market appraisal to ensure a realistic rental price. Keeping your property in optimum condition always pays dividends.

Porters possess vast experience, knowledge and enthusiasm that is entirely at your disposal. If you have any questions about refurbishing your rental property, this is the ideal time to talk to us.

From one bedroom flats to six bedroom houses, we have an excellent track record in helping you maximise your rental potential.

We will also provide guidance and advice on mandatory requirements and Laws in Wales to let your property. During our valuation appointment, we will also photograph the property and record the property details in preparation for marketing.

To begin the process of renting your property through Porters we will check all mandatory and regulatory certificates and requirements are in order and ensure anything missing is brought to your attention. We can make arrangements on your behalf for any work to be carried out should you wish, or you can arrange the work yourself.

A To Let board will be placed in a prominent position at your property and we will use our advertising portals, marketing knowledge and social media channels to draw the attention of suitable Contract Holders.

Accompanied viewing appointments will be conducted, including evenings at agreed times. If no suitable applications are received following the viewings, we will arrange further appointments until a suitable applicant is found.

Once you have decided which application you wish to proceed with, we will arrange for in-depth referencing checks to be conducted on all applicants, (including Guarantors if required) by a third-party referencing company.

This process usually takes between 4-10 days. We will communicate with the applicant and the referencing company regularly, to ensure a quick turnaround is achieved. This prevents any delays in you receiving your first rental payment.

As soon as references are passed and you have confirmed the application online, a Contract start date will be arranged that suits you and your new Contract Holder.

We will create an Occupation Contract and Written Statement for you as the Landlord, your Contract Holder and a Guarantor if required, to be electronically signed by all parties. This is sent by email 48 hours prior to the Contract start date and must be signed before keys can be released.

We will conduct a Check-In Report including over 40 images, to ensure the condition of the property is accurately recorded. The extensive report is created digitally and contains on average, 60+ pages. Your Contract Holder has 7 days to amend, add to, sign and approve the report before it is digitally locked. This is one of the most important documents for a Landlord, in readiness for when your Contract Holder vacates.

The Contract Holder is responsible for the payment of all utilities at the property during their Contract and they will have been advised of their obligation to make arrangements to pay.

The deposit will be registered with The Tenancy Deposit Scheme (TDS) at no cost to you. If you have chosen our Finder Only or Let and Rent Collection service, the property is your responsibility to manage from this point onwards. Your contact details will be passed onto your Contract Holders. You will need to register the deposit if you are using the Finder Only service and provide your Contract Holder with proof of this. To manage your property, you must be registered and licensed with Rent Smart Wales.

Throughout your Contract under the Fully Managed service, Porters will be the first point of contact for your Contract Holders for maintenance issues, rent and any day to day problems. We will of course liaise with you, as and when needed. All mandatory certificates will be managed and renewed when due, with your authorisation. We will also carry out routine property visits as well as collecting interim self assessment property reports on your behalf.

You will receive an email from our deposit management system called The Depositary. This system tracks the stages of your deposit in the run up to and after your Contract Holder has vacated the property.

Within 48 hours of keys being returned (where possible) a Check Out report will be completed and compared to the original Check In report. We will be comparing the two reports for differences, damage or change, with fair wear and tear taken into consideration.

We will contact you with any suggested deductions (where necessary) or if the property is in a good enough condition for a full refund, a cost breakdown of every issue will be listed for the Contract Holder to rectify them or pay compensation. You can either agree, partially agree or disagree, if an agreement cannot be made between you and the Contract Holder, a dispute will be raised with The TDS whom your deposit is registered with. Please see your Contract for full information on this.

A Check-Out report can be provided to any independent Landlords at their cost. Further details on all additional services available can be found here.

When we receive Notice from your Contract Holder of their intentions to end their Contract, we will inform you of this with a suggested market value for re-advertising your property.

Once we receive your confirmation to proceed, we will make arrangements to market the property as soon as possible. We do this to ensure you have a prompt turnaround of Contract Holders and therefore reduce the loss of income between Contracts.

Legislation requires that any Landlord or Agent who takes a deposit from a Contract Holder for an Occupation Contract must safeguard it in an approved tenancy deposit scheme. Porters are a member of the Tenancy Deposit Scheme, which is administered by The Dispute Service Ltd. For all Standard Occupation Contracts where we hold the deposit, it will be protected by this scheme. Please visit The Dispute Service for more information.

As a Landlord, you must ensure that all upholstered furniture, soft furnishings, beds, mattresses, pillows, cushions, headboards, loose and stretch covers for furniture and seat pads supplied to a property as part of a letting must comply with these regulations.

Exempted items are: curtains, carpets, bed linen, duvets, period and antique furniture manufactured before 1950.

All furniture purchased new since 1st March 1990 should comply – if it does it will have a safety label attached to it at the point of sale. If in doubt, the items should be removed.

For more information, you can download a copy of the regulations here.

There are many financial issues which should be considered when letting property.

Income generated from letting property in the UK is liable to UK tax, whether the Landlord lives in the UK or not. Rental income must be declared to HMRC using a Self-Assessment tax return. All agents are required by Law to submit a list of paid Landlords to HMRC annually.

HM Revenue & Customs (HMRC) assesses income individually, so a tax return must be completed by each legal owner of the property. Income tax is payable on the profit generated by letting your property. However, certain allowable expenses can be deducted to minimise your liability.

If you do not live in the UK, Porters are required by law to deduct Basic Rate Tax from rent received and pay this to HMRC, unless we have authorisation from HMRC to pay rent to you without deducting tax.

If your usual place of abode is outside the UK, you will need to apply to HMRC under the Non-Resident Landlord Scheme to receive your rent from us without deduction of tax. The appropriate form can be downloaded from HMRC.

Individuals have a usual place of abode outside the UK if they usually live abroad. Individuals who leave the UK for over 6 months also have a usual place of abode outside the UK, even though their absence may be temporary and their local HMRC office continues to treat them as a resident for tax purposes following their departure.

If your property is owned in joint names, you will both need to apply for approval to receive rent with no tax deducted. Once approval is granted by HMRC, we will be entitled to pay over rental income to you without deducting tax.

Property Alert is a free property monitoring service to prevent the risk of fraud to a registered property that could be at risk. You can create an account by following the link here.

The Renting Homes (Wales) Act 2016 changed the way all Landlords in Wales rent their properties in December 2022. All Landlords using our services were advised on the significant changes being introduced with any required certifications or installations arranged, in advance, to ensure a hassle-free transition.

For more information and frequently asked questions regarding Rent Smart Wales, please follow this link.