Property Bay Wales - Landlord Services
Property Bay Wales Lettings offers a professional service to both landlords and tenants alike. They provide a range of competitive and professional services including a residential lettings agency and a social lettings agency. Their role is to manage properties on behalf of landlords and all properties are of a good standard.
Property Bay Wales - Letting and Management Services
Property Bay Wales can provide a competitive and professional Residential Management Service based on a flat fee then a monthly commission in addition.
In order for us to let and manage a property there are a few requirements which need to be met;
- Suitable Building and Contents Insurance
- Gas Safety Regulations
- Electrical Equipment Regulations
- The Furniture and Furnishings (Fire Safety Regulations 1988 - as amended 1993)
- Proof of Ownership & ID
We ask that properties to be accredited or to reach the standard of accreditation in order to promote and maintain good standards throughout all of the properties we manage. If your property is not currently accredited please contact us or the Private Rented Accreditation Scheme directly.
What are the Fees?
There are set fees for specific services and a commission is taken from rents received before we transfer them to your account on a monthly basis via BACS. More information regarding this can be found on the website or talking to our staff directly.
Residential Letting Agency
This is the standard residential letting package for clients, with some of the benefits including professional management service, tenancy referencing, rent and legal insurance for 6 months and regular management visits. Removing all the hassle of managing your own properties.
Some Landlords wish to manage their own properties but often experience difficulties finding suitable tenants. Property Bay Wales is able to provide a Tenant Finder Service. This service is for a one off fee and includes advertising your property, tenancy and referencing checks and a Tenancy Pack for you and your tenant.
Social Letting Agency
This part of the Agency is available to those with an immediate housing need who may normally not have access to the Private Rented Sector. We provide support and additional control measures (Bond certificates, regular visits, pre-tenancy training etc) to make their tenancies sustainable.
How much Rent can I expect?
The rental value of the property is dependant on various factors - size, location and condition of the property. We will however market your property at a realistic and competitive rate in order to minimise the loss of income by ensuring the property is quickly re-let. The rent may also have to reflect the level of Local Housing Allowance, which can vary as obviously you do not want to prices yourself out of the market.
We have excellent relations with Neath Port Talbot County Borough Council's Housing Benefit Section and our staff are comprehensively trained to assist tenants and clients alike with housing benefit and other similiar matters.
Rental and Legal Insurance
We will provide this free for the first 6 months (depending upon the insurance firms criteria) or if you have any current sitting tenants our broker maybe able to help you find a better deal.
Contact Property Bay Wales
King Edward House
110 London Road
Tel: 01639 686886
Tax and The Landlord
Income Tax is payable on the profit made by letting your property and is considered as un-earned income by the Inland Revenue. As a rule of thumb, the profit is the money made from the let after deducting what is known as 'Allowable Expenses'.
For more details on this, please visit HM Revenue and Customs Website.
Non Resident Landlords
If you live outside of the UK you still have to pay income tax on any rents paid. The non resident landlord scheme requires us to deduct the basic rate of tax from rents we receive on your behalf. You can apply to HMRC to receive your rent without any tax deductions (form NRL1) if you are successful we can then pay your rent gross. However, you are still liable to disclose your income and pay any tax accordingly.
Useful Links Neath Port Talbot County Borough Council Private Rented Accreditation Scheme
National Landlord Association
Residential Landlord Association
Tenancy Deposit Protection
The Rent Officer and Local Housing Allowances - A Guide for Landlords
Neath Port Talbot County Borough Council Private Rented Accreditation Scheme