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Lettings Direct - Letting Agents, Property Management Specialists and Buy to Let Experts.

Fully Managed Service

Fully Managed Service

Our complete Lettings service - designed for the busy Landlord

Free Valuation

Free Valuation

Landlords - free, no obligation valuation of your property

Landlord Insurance

Landlord Insurance

More information on all types of Landlord Insurance

Letting Agent Southampton - Lettings Direct
Property Maintenance

Property Maintenance

Approved Contractors for all maintenance work

Price Promise

Price Promise

Competitive prices - guanranteed!

On-going Property Costs...

What Costs Will you Incur Once the Property has Been Purchased?...

Ok, so you've bought your first property, now what kind of ongoing property costs are you likely to incur throughout the year.

Unfortunately, the Tenant doesn't pay everything, so we have to budget for the following costs over the course of the year:

Property Maintenance with Lettings Direct 1)  Maintenance...

There will always be maintenance costs of some sort with all properties, whether it’s exterior, interior or just general repairs and replacement to white goods or furnishings. Generally speaking, Landlords are responsible for maintenance, wear & tear and ensuring the property is in a lettable condition.

2)  Service Charges...

Usually only applicable with leasehold properties where fees are payable to the block management company for the up-keep of the communal areas.

3)  Ground Rent...

Again, usually only payable with leasehold properties and this is the annual fee payable to the freeholder of the property.

On Going Property Costs 4)  Insurance...

If you have a leasehold property, often, the buildings are insured by the freeholder or block Management Company, however if your property is freehold, then buildings insurance is essential. We also advise Landlords to also take out contents insurance, although not a legal requirement, it does often include public liability, which is favourable when renting.

5)  Utility Charges...

Whilst Tenants will usually pay the utilities, Landlords are responsible for utilities charges when the property is empty. If the property is leasehold, sometimes the water rates are charged as part of the management fees - so worth bearing this in mind!

6)  Council Tax...

Again, usually paid by the Tenants; however this is the Landlords responsibility when the property is empty. If the property is unfurnished, then in most cases the council will issue exemption certificates for up to 6 months in a rolling year.

7)  Lettings Costs...

If you use a Letting Agent, then the Lettings Costs need to be considered - this will vary from Agent to Agent, but generally there will be charges for managing the property as well as find a tenant, registering the deposit and ancillary costs such as inventories and check-outs etc.

Energy Performance Certificates with Lettings Direct 8)  Gas Safety Inspection...

If you have gas in the property, then you will need an annual Landlords Gas Safety Inspection - prices vary, but range from £60 - £80 - this is a legal requirement for all properties with gas.

9)  EPC - Energy Performance Certificates...

A legal requirement for properties that are either on the market for sale or rental, but an EPC lasts for 10 years, costs vary but usually around £69.00

10)  Licensing...

Dependant on the type of property, but often HMO properties do need a license to operate and usually a fee is payable to the local council for this. Landlords should note that it is a criminal offence to operate a HMO property without the correct license. In many areas, this also includes Student Houses.