FAQ
FAQ
Frequently Asked Questions
How much will it cost me to let my property?
This depends on how much support you need. At Novum Properties we offer three main services: Fully Managed, Rent Collection and Let Only.
How do I know what rent to charge?
Contact us for a free valuation. We’re experts in the market so we can advise you the price you can achieve on your property.
Do I need an Inventory?
We strongly advise our Landlords to carry out a full inventory for each tenancy. the purpose of checking an inventory is to establish damages which can only be done if descriptions and conditioning remarks are sufficiently detailed at the commencement of the tenancy and then at the end of the term.
Under the terms of the tenancy agreement the tenant is required to return the property (and contents) at the end of tenancy in the same condition as they were at the commencement, fair wear and tear accepted. It is almost impossible to ascertain whether damage was caused during a tenancy without a proper inventory signed by all relevant parties.
If instructed we will arrange a professional inventory and check in on your behalf, the cost of which is borne by the Landlord.
Why should I use a letting agent?
Choosing the Fully Managed service allows you to completely relax. You do not have to worry about the let and you can avoid having to deal with issues like rent arrears or maintenance problems.
How do I receive my rent from my agent?
If you chose a Fully Managed service or the Rent Collection one, we will collect the rent via Standing Order from the tenant and will then transfer the money to your account (minus our commission and any repairs expenses if applicable). Also you will receive a statement every month.
I want to let my property. Do I need to tell my mortgage lender?
If you’ve got a mortgage, it is normal for the lender to require notification of any proposed letting and you should seek their initial consent. You should also advise your insurance company of the proposal to let as this could either invalidate the insurance altogether or increase the premium.