Letting a Property

Presentation!

Professional marketing and presentation is the key for selling or letting any property. We are renowned for our up to date marketing techniques. Our innovative and creative methods ensure that your property gets the maximum exposure which helps to sell or let your property quickly. This is done in a variety of ways:

City Quays Website

Your property will be advertised on our user-friendly and up-to-date website. Our website is directly linked with our computerised database to maximise efficiency.

Auto emailing

We utilise the latest computerised system. Our advanced technology matches tenants with properties as they come on. It then automatically emails the property details to all active applicants. This is done as soon as we receive your instruction.

Branded Car

Our fleet of branded BMW Mini's create name awareness and attract more prospective Tenants and Buyers for your properties. Our branded cars act as our mobile advertising medium being seen all over the Docklands, meaning your property will very quickly become hot stuff!

The Letting Guide

Having an empty property can be stressful. In order to maximise the return on your investment you need to act fast to find a reliable tenant who will pay the best price. Here are some key steps to reaching this goal, it really is as easy as 1, 2, 3!

Step 1: Accurate valuation

Our experienced agents conduct dozens of valuations every week giving us unrivalled knowledge of property values in your area. This is why we consistently achieve the asking price (in many cases over the asking price) across all our clients' properties.

Call us on 0207 231 2957 or complete the valuation request form.

Step 2: Choosing an agent

When choosing a lettings Agent consider their opening hours, when they will be available to conduct viewings and what kind of marketing your property will receive. These are critical to obtaining the maximum price for your property. Choosing an agent that specialises in the same area as your property will benefit your property.

Step 3: Maximum exposure

When you instruct City Quays to market your property you will automatically benefit from our unrivalled, comprehensive marketing package. This includes our professional colour photography shots of your property that are live on our website within hours of receiving the go-ahead from you. Included in your property particulars are local information, location maps, aerial views and a printable colour brochures. Your property will also be advertised across all major property web portals and social networks to receive maximum exposure.

Step 4: Safety regulations

As a landlord, you're obliged to ensure that your property complies with all the necessary regulations covering the safety of gas appliances, electrical installations and any furnishings supplied for the tenancy. We can advise you on this and arrange the necessary inspections. These will include EPC certificates, Gas Safety records and Land registry documents.

Step 5: Viewings

To maximise viewing opportunities, ensure your agent is open during evenings and weekends. 40% of our viewings are carried out during evenings and weekends. Our offices are open 9:30am to 7pm Monday to Friday and 10am to 3pm Saturdays.

Step 6: Finding a suitable tenant

Once a suitable tenant has been found, we will apply for references on your behalf. If the tenant proves to be acceptable, we then proceed to the next stage. We have thousands of high calibre private and corporate tenants and we work with some of the world's most admired corporations, finding homes for their key personnel.

Step 7: Property Management

Many tenants, especially corporate tenants, prefer to rent managed properties. Instructing City Quays to manage your property guarantees round-the-clock care for both your property and your tenant. After finding you a tenant, we take care of both them and you throughout the tenancy, including everything from collecting rent and handling all administration to assistance with more complex issues.

Step 8: Rental paperwork

Tenancy agreement

To ensure a smooth running tenancy operates it is essential to have a professional agreement in place. We will draw up the relevant paperwork based on years of experience, ensuring all the necessary documents are signed by both parties.

Check in and Inventory

We will instruct a Check in clerk to move each client into their new property and a report of the condition will be provided to both landlord and tenant.

Prior to commencement of the tenancy, Landlords can instruct us to arrange an inventory to be conducted. This is a full itemised report of the contents and condition of the property and will be supplied to both landlord and tenant.

Step 9: Rent and deposit

City Quays will collect the rent on your behalf and a deposit from the tenant, this will be transferred to the landlord to register with a deposit protection scheme, in line with recent legislation.

Step 10: Landlord Pack!

We will send you your landlord pack that will include all necessary documents such as your copy of the tenancy agreement, Your check-in report, and your tenant's details.

For details on the letting costs and charges, download our terms and conditions of business for landlords.

Property Management

Tailor-made Property Management offering you peace of mind

At City Quays we believe that maintaining the long term value on your rental investment is just as important as getting a good tenant for your property. We also know how time-consuming it can be to be a full-time Landlord dealing with tenants' telephones calls and resulting work. City Quays offers a management service which deals with any maintenance issues that may arise. We also keep an eye on your property to ensure it's kept in its best condition, so you don't have to! We offer a number of management packages and can even tailor the packages to suit your requirements.

A Standard Management Package offers: marketing of your property, finding a suitable tenant, obtaining references, collecting the rent throughout the duration of the Tenancy and dealing with the renewal at the end of the Tenancy.

For details on the letting costs and charges, download our terms and conditions of business for landlords.

What's included?

• Arrange regular rental payments made on the client's behalf, including any necessary tax deductions. Dedicated telephone and email contact for tenants.
• Transfer utilities and arrange settlement of final accounts.
• Arrange annual gas safety checks.
• Carry out periodic inspections of the property and report on its general condition.
• Settlement of regular outgoings such as Ground Rent, Service Charges, Maintenance Charges, with your agreement.
• Arrange any cleaning and garden maintenance necessary to put the property in order before or after the Tenancy.
• Arrange all repairs and maintenance to the property.
• Arrange an independent inventory and schedule of your property.
• Provide a key holding service.
• Arrange to re-negotiate a further rental period or end a Tenancy.
• Manage the check-out and deposit negotiation process.

Inventories

An inventory is an essential part of any Tenancy. This is a full itemised report on the interior condition of the property for both Landlord and Tenant, recording faithfully the condition of furniture and fittings in the property, and the general decorative order. The inventory will also highlight the overall condition of any outside areas such as gardens. All inventories are carried out by our market-leading profession team, Invenhomes.

This document is then used at the end of a Tenancy to validate whether a tenant is entitled to a full or partial return of a deposit. Without an accurate inventory, you would have no evidence to prove that a property that you have let has been neglected or abused in any way, and therefore would have no legal recourse to withhold monies lodged as a deposit.

The Tenancy Deposit Scheme

Under new legislation introduced on 6th April 2007, all deposits taken from tenants against possible damage to a property or non-payment of rent must now be covered by a Tenancy Deposit Protection Scheme. This applies to Assured Shorthold Tenancies only.

Our offices are members of a Tenancy Deposit Protection Scheme, which means that in the event that there is an unresolved issue over the allocation of a deposit, it can be referred to the scheme for an independent third party adjudication, which will provide a resolution fair to the Landlord and Tenant.

Safety regulations

There are a number of regulations and obligations on a Landlord with regard to Gas Safety, Electrical Equipment and Fire Safety. It is important that as a Landlord you take these responsibilities seriously, and we can advise you on all these regulations to ensure that you have peace of mind when you let your property:

Gas Safety

It is the Landlords responsibility to comply with the Gas Safety (Installation & Use) Regulations 1988, which states that a Landlord must arrange a Gas safety Inspection at the property to be carried out by a CORGI registered engineer prior to the commencement of the Tenancy and supply the Tenant with a certificate with a valid certificate. As part of our management service we organise this on your behalf.

The Electrical Equipment (Safety) regulations 1994

City Quays strongly recommend you have all electric and electrical equipment checked before the commencement of the Tenancy and regularly thereafter, especially if you know there could be a fault. As your managing agent we would ensure that your property complies with all the relevant regulations and can arrange on your behalf an Electrical Safety Test, should you wish us to.

The Furniture and Furnishings (Fire) (Safety) Regulations 1988 as amended

Amongst other things, this Act requires that all furniture in the property (whether originally provided or added during the Tenancy) has a clear label to ensure that it is fire resistant, and it is the Landlords responsibility of ensuring that this is so. If you have any doubts regarding specifics of exactly what is required from Landlords, and the type of furniture required to comply to this, please refer to your local Trading Standards Office.

Are you an overseas landlord?

Under the Finance Act 1995, any Landlord considered a non-resident for tax purposes has to pay United Kingdom Income Tax. City Quays are obliged by law to deduct tax from rental monies received unless we receive an 'Exemption Certificate' from the Inland Revenue. Whilst it is the Landlord's responsibility to obtain the 'Exemption Certificate', we can advise you on how to go about applying for it.

Tailor-Made Options

We offer a range of Management Services and can tailor it to your requirements. For more information on what we can offer you, please contact a member of our property management team.

Other Letting Services

As well as this, we offer property improvement services at City Quays. We can take away the hassle of furnishing a property whether it is for the purposes of renting out or selling. We understand how important it is to maximise rental, and minimise the amount of time your property remains vacant. Offering a variety of services and catering for many budgets, there is bound to be something suited to absolutely everybody!

Property Nurse

Our very own Property Nurse Charlene can have a rundown property repaired and renovated in practically no time, ready for tenants to move in within just two weeks of receiving your instruction. All furnishings used are selected suited to the expectations of tenants in the current market and are all compliant with current letting regulations.

A Perfect Photo Opportunity

We can also stage rooms for letting purposes. This service is extremely popular, particularly with Landlords requiring an affordable turnkey service. We make over the room with bedding, decorations and artwork and take professional photos to present the property in the best possible light for viewing purposes. Our services start from £35 for a room. We handle small makeovers to complete refurbs. Simply call 0207 231 2957 for more information on how City Quays can assist you.

Capital Gains Guide

The service we provide - valuations

For a fixed fee of £99.00, we will do a desk top valuation using our market leading industry valuation tools, provide you with an indepth report illustrating sold figures in chart form and statistical information regarding your area.

You will get a valuation letter from one of our trained valuers backed up by a Rightmove report showing sold prices and a home track report which all RICS (royal institute ) valuers use. We aim to provide all our valuations within 72 hours, delivered in a pdf by email.

How we do it

For a fixed fee of £99.00, our professional valuations team will carry out a desk top valuation using the leading valuation tools in the industry, and provide you with an in-depth report. illustrating sold figures in chart form and statistical information regarding your area.

You will get a valuation letter from one of our trained valuers backed up by a Rightmove report showing sold prices and a home track report which all RICS (royal institute ) valuers use. We aim to provide all our valuations within 72 hours, delivered in a pdf by email.

Contact us

For valuations before the Capital Gains Tax reform, please complete the form here or contact us on 020 7231 2957.

Property owners that are Non UK residence or Expats need to act now to avoid Capital Gains Tax

The New Legislation

Here at City Quays we want to help all those that will be affected by the new changes to capital gains tax. This new legislation will largely affect expat and non UK residence property owners starting from early April 2015 onwards.

The new capital gains tax, which will be implemented very soon, states that all overseas persons that own a residential property in the UK will now be taxed on any gains made from the sale of that property. The new law will also include all residential property that is rented out. This change will scare a lot of investors but once you understand how it works it is not all bad, there are ways around it and also we can help to ease the pain a little, all is explained below.

This will affect many foreign investors and UK expats who have property in this country, including those who were hoping to sell this property before returning home. Now all of these people will need to pay capital gains tax, however, there is good news, being that any gains are calculated only from the value of that property on April 6 2015. This change in the Law will only apply to future increases in value and not previous growth.

Private Residence Relief (PPR)

Relief means that anybody living in the UK who sold their principal private residence is exempt from paying capital gains tax. Meaning that if you are a UK expat holding residential property you might be able to get around this by continuing to hold the property until returning to the UK, then living in it and selling it claiming exemption from capital gains tax because it is, or was, your main home.

Before this new legislation it was required that this PPR property was the owner's only principal residence in the whole of the world and not just in the UK, this meant that the owner had to be a UK resident. However the good news is that this is all set to change with this new legislation, with this new law to get PPR relief, the owner (non UK resident) of a UK property needs now only show that they have spent at least 90 days in the property for each year, for it to be considered their PPR. Also the 90 days can even be split between husband and wife. The PPR property now only has to be their main residence in the UK and the rest of the world.

All of this applies to properties held in individual names. Those properties are subject to UK inheritance tax at 40 per cent. Due to this a lot of foreign domiciled individuals normally obtain UK properties through companies which would allow them to avoid this 40 per cent charge. However, this is now less attractive with the introduction of the annual tax on enveloped dwellings (ATED) charge imposed on the company each year. As a consequence trusts are now increasingly used by foreign domiciles to hold UK property. In many cases a trust will qualify for the exemption from the new capital gains tax charge where PPR can be claimed.

Non UK residence and expats who have been outside the country for five years can sell their property between now and April 6 this year without incurring capital gains tax. After this date capital gains tax will apply unless they live in the property for at least 90 days for each year thereafter. Obviously this will prevent the property from being rented out other than for short periods. Or they wait until they return to the UK, live in the property and then sell which would provide partial PPR relief.

Alternative Options

Another option for foreign investors and expats who are foreign domiciled might be to sell the property to a trust now. This would trigger a stamp duty land tax (SDLT) charge but would not cause a capital gains tax problem. The trust would qualify for PPR if a beneficiary met the 90-day test for each year of ownership by the trust. Or the property could be transferred to a Qualifying Non UK Pension Scheme (QNUPS).

A QNUPS is a multi-member pension scheme which should fall outside the general charge to capital gains tax when it is introduced next April. It is also outside the scope of all the ATED charges. And the property should also be outside the scope of UK inheritance tax. It is likely to be particularly useful where property is rented out and PPR will thus not apply.