The Estate Agent

Choose a Monmouth letting agent that is registered with one of the following:

• * The Association of Residential Letting Agents (ARLA)
• The National Approved Letting Scheme (NALS)
• The National Association of Estate Agents (NAEA)
• The Royal Institution of Chartered Surveyors (RICS)
• The UK Association of Letting Agents (UKALA)
• Ombudsman for Estate Agents (OEA)

Get a good contract which will be the Tenancy Agreement. Think about any restrictions you wish to place on the tenant and the use of your property.

Try not to be too tough - if you exclude smokers, pets, students, small children and short term lets, you will narrow the market for your property considerably.

Ask for a rent that is realistic and affordable to your potential tenants. The big difference in profit at the end of the year will be dependent upon how long the property stood empty - reduce the voids!

Energy Performance Certificates (EPC)

Energy Performance Certificates, or EPCs, have been available since October 1st 2008 to outline the energy efficiency rating and the environmental impact rating of a property.

The rating offered by the EPC will range from A to G, where A is very efficient and G is very inefficient, with the typical rating for a home being either D or E. These simple ratings will allow potential tenants to compare homes of interest to gain an insight into the difference in potential running costs.

Advice for Landlords

• Commission your EPC now: an EPC will have a shelf life of 10 years so if you have a high turnover of tenants, don’t wait until the current ones are about to leave - commission your EPC now to save time and hassle further down the line
• Use an accredited DEA: ensure you use an accredited Domestic Energy Assessor (DEA) - details can be found at www.epcregister.com
• Be prepared: before the DEA arrives make sure you have all the information they will require, ready - date of when the property was built, info on whether the property has been extended or double glazed, whether walls have been insulated etc - a full checklist can be found at www.communities.gov.uk/epbd
• Follow the recommendations: take time to review the recommendations in your EPC - if your property has received a relatively poor rating (F or G) then take steps to improve its energy efficiency such as cavity wall insulation
• Get help: There are Government schemes available which will allow landlords to work with tenants to improve the EPC rating of their property.
• Get advice: if you’re not sure on what changes will provide the greatest energy savings contact the Energy Savings Trust who will be able to give you impartial advice - www.energysavingtrust.org.uk

For more information on Energy Performance Certificates click here  and view the Government released booklet that helps to explain EPC’s in even greater detail.