Guide to letting your property with Paradigm

Contents Private sector leasing

2

Why choose Paradigm?

3

Preparing your property

5

Legal, safety and financial considerations

7

A step-by-step guide to letting your property

10

Landlord’s checklist

12

Contact details

13

GUIDE TO LETTING YOUR PROPERTY 1

Private sector leasing Paradigm offers landlords a comprehensive management service for their properties. A flexible lease term of between two and three years, with the security of guaranteed rent and payment throughout void periods, give landlords peace of mind.  Our staff are devoted housing professionals who provide landlords a comprehensive, dedicated lettings service, all free of management charges.   This guide is aimed at landlords who are new to Paradigm’s private rental scheme and provides a useful source of reference for our existing landlords. It explains our offer in detail and the steps you will follow when letting your property with Paradigm.  If you have any questions or would like to discuss your individual requirements please contact us on 0300 303 0113 or [email protected]

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Why choose Paradigm? More and more landlords are choosing Paradigm to let and manage their property. We offer them the benefit of a complete property management solution, whether they own one property or a portfolio, and whether they live right next door or on the other side of the world. Here are just some of the reasons why landlords choose us:

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guaranteed rental payments - we guarantee to pay you rent each month for the term of your lease *

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long leases - your lease will usually be for a period of two or three years

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regular visits to your property - we will carry out regular property inspections and make sure your property is being well looked after

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no void periods - even if your property isn’t occupied, you will continue to receive your rent *

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financial security - it may be possible to offer you the opportunity to renew your lease, so you can continue to feel financially secure

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experienced and dedicated team – you will be given a single contact number to make it easy for you to call and speak directly to a member of our trained, professional team

commission-free lettings and management service - we will find tenants for your property, arrange viewings and provide a full management service

full vacant possession at the end of the lease - we guarantee to return your property to you, with full vacant possession *

* subject to the condition of your lease

GUIDE TO LETTING YOUR PROPERTY 3

Here’s what some of our customers have to say: “ I have many properties with Paradigm and I am really happy with the service that they have provided me over the years. All the staff are extremely efficient and helpful and seem to really care about their customer and always go that extra mile to help.”

Vincent, London “ It has been a pleasure working with Paradigm over the past eight years. Their staff, at all times, act in a professional and courteous manner and are very accommodating. When leasing properties to Paradigm we are always assured that they are fair with their rent offers, timescale for renting the property, and paying rent in full and on time. Upon the expiry of a lease they are more than happy to negotiate new terms.”

Avon Estates (London) Limited “ We have been with Paradigm for at least ten years and have found the staff we deal with most helpful. We have always had the reassurance of knowing that between us we can sort out problems together. We have never had any problems with payments and any discrepancies have been quickly dealt with amicably. The best for us is knowing that this is a two-way operation and problems with repairs have always been discussed and fairly distributed.”

Carol, London

Preparing your property Many landlords who can’t face the prospect of finding a tenant, sorting out an electrician or collecting monthly rental payments, choose to hand over the responsibility to a dedicated team, like Paradigm. We find suitable tenants and manage the property for you, at no extra cost. Before we lease your property, we will check to make sure it meets the needs of your future tenants. It will need: � to be good quality, self-contained accommodation

� a working lift for flats on the third floor or higher *

� to be located in North London, West London, � gas central heating or electric storage heaters throughout Hertfordshire and Berkshire, Slough and Watford � to be structurally sound � the kitchen and bathroom to be in good condition

� neat and neutral decoration � a bathroom with bath (subject to property-type)

� bedroom sizes that conform to local authority standards

� durable linoleum floor-coverings in the kitchen and bathroom

� a separate living room * � loft insulation

� well-maintained shared areas (if applicable) � sufficient ventilation

� a self-closing fire door to the kitchen * � a fire risk assessment for communal areas *

� front access if it is a flat above a shop * � smoke alarms, carbon monoxide detectors and heat sensors *

All properties must have a fully working, checked and certified cooker, fridge and freezer, and appropriate floorings, nets and curtains. Some properties may need furniture. Please contact us for full details. * subject to survey GUIDE TO LETTING YOUR PROPERTY 5

Legal, safety and financial considerations Permissions When letting a property it is important that you have all the necessary permissions to proceed and that you inform any third parties who may have an interest in you doing so. Proof of ownership We will need a copy of the Land Registry entry dated in the last three months or a TR1 form confirming your ownership of the property. We also need colour copies of identification (e.g. passport or driving licence) for the property owner(s) named on the Land Registry entry. Your superior landlord If your property is owned on a leasehold or share-of-freehold basis, we will need consent from the head lease and/or management company, to confirm your property can be leased to Paradigm. You should always check and make sure the terms of any superior lease are followed. Your property finance provider If you have a mortgage or other loan on the property you want to let, you must advise your property finance provider of your intention and ask for written consent before any tenancy begins. 6 PARADIGM HOUSING

Your insurance provider You must make sure you maintain full buildings insurance cover throughout the term of the lease. We also recommend you maintain sufficient contents insurance cover to protect your fixtures, fittings, furnishings (if appropriate) and electrical items at all times. This is the landlord’s sole responsibility.

Safety regulations By law, landlords are required to follow strict safety regulations to protect tenants from avoidable hazards. Gas safety The Gas Safety (Installation and Use) Regulations 1998 stipulate that all gas appliances must be inspected annually by a Gas Safe Register - registered engineer. A valid Gas Safety record must be issued each time and updated every twelve months. The current certificate must have been issued within the last six weeks and must be an original (not a copy). To find a Gas Safe registered engineer in your area, you can contact the Gas Safe Register on

0800 408 5500, or visit their website at www.gassaferegister.co.uk Electrical safety The Electrical Equipment (Safety) Regulations 1994 require that electrical equipment, including wiring, is safe. An electrical test certificate must be issued by the electricity board or a NICEIC registered electrician. This certificate must have been issued in the last six weeks, be an original (not a copy), and must be valid for a minimum period of three years. To find an NICEIC registered electrician in your area, you can contact the NICEIC on 0870 013 0382, or visit their website at www.niceic.org.uk Energy performance It has been a legal requirement, since 1 October 2008, for all landlords to have a valid energy performance certificate (EPC) for their property before it can be let. The EPC gives your house an A-G rating on energy efficiency and suggests ways to improve your rating. Your property will need to have a “D” rating or above. A valid EPC will last for 10 years and can be used for multiple tenancies within that period. For information on how to arrange an EPC and how much they cost visit www.energy-performance-certificate.org.uk Although the law does not make specific provision for the following, Paradigm also requires other practical precautions to be taken by landlords before the start of any new tenancy. GUIDE TO LETTING YOUR PROPERTY 7

Smoke detectors Smoke detectors should be installed in all hall and landing areas on each floor of the property and, if not mains operated, should be sealed lithium units. Carbon monoxide detector A carbon monoxide detector must also be fitted as per manufacturer’s instructions. These should be mains operated or sealed lithium units. Internal glass doors All internal glass doors must be fitted with safety glass that conforms to British Standard BS6206. Maintenance service contract We would also recommend you take out a maintenance service contract to ensure your boiler and heating system is fully covered in case of a break down.

Finances Rent payments We will give you an idea of the expected rent for your property at our first visit. The final rent figure will then be confirmed in your offer letter. Rental payments are paid monthly in advance. All payments are processed through the bank automatic clearing service (BACS) beginning on the first date of the tenancy.

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No management charges There are no management charges during your lease. There will also be no charge when leases are renewed. There are a variety of costs that are the landlord’s responsibility. These costs will vary depending on the size, age and location of your property. Recharges If we have carried out any repairs on your behalf, we will deduct the cost of the work including an administration charge from your monthly rent. We will send you a letter notifying you of any deductions from your rent before payments are made. Utilities The tenant will be responsible for the payment of water rates, gas, electricity and council tax. Service charges and ground rent As the owner, you will be responsible for paying service charges and ground rent. If the service charge includes payment for heating and hot water, you will be liable for this payment unless the freeholder can invoice the tenant separately Taxation As the property owner you will need to pay tax on any rental income received. However,

almost all expenditures related to a rental property are deductible from rental income before calculating any profit. Our team can offer general advice about this, but we recommend you speak to your accountant for more detail. If you are a non-UK resident you must provide us with confirmation that you have notified HM Revenue and Customs (HMRC) of your circumstances. Otherwise, we will have to deduct the tax from your rent payments and pass it onto the HMRC. More information for overseas landlords can be found at www.hmrc.gov.uk/cnr/nr_landlords.htm

Feedback We aim to provide an excellent service for our landlords. If you think we are doing something wrong, let us know. We want to learn from our mistakes and improve. We have a simple, open and useful feedback procedure for concerns about service delivery. Any disputes regarding negotiations, defects, disrepairs or compensation at the end or renewal of the lease, will be dealt with directly and promptly by our team.

Dealing with us Equality and diversity Equality and diversity are integral to all our activities and to every aspect of the work we do. We aim to respond to the wide social diversity within the communities in which we operate and ensure that we fully reflect this in our policies and procedures and through the dayto-day delivery of services. We will treat everyone with respect and value their differences. We do this by providing excellent customer service, in which everyone’s quality of life is considered of great importance.

GUIDE TO LETTING YOUR PROPERTY 9

A step-by-step guide to letting your property Here is what you need to do if you are thinking of becoming a landlord with Paradigm. Contact us

Offer letter

1

Final inspection

3

2

Property inspection

Collect keys

5

4

Prepare to let

Pay your rent

7

6

Sign contract

9

8

Find a tenant

10

Manage property

Contact us on 0300 303 0113 Call us to discuss your needs, how our scheme works and whether it is suitable for you.

Property inspection We will arrange to meet you at your property for a free inspection. During this inspection we will answer any of your questions, take you through our property requirements, assess if any work needs to be completed and let you know the rental figure we would expect for the duration of your lease. Your offer letter After the property visit, we will write to you making you a formal offer and outlining the work which needs to be completed before your property can receive tenants.

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Preparing to let your property To go ahead with the letting all you need do is complete the work we have outlined in your offer letter and send us some necessary documentation (see the landlord checklist). Final property inspection Once all necessary work has been completed we will visit your property for a final inspection. Signing the contract After passing the final inspection and receiving all the necessary documentation, we will send you the contract outlining all the letting details, which you need to sign and return to us. Collecting the keys Once the final inspection has taken place, we will arrange to meet you at the property to collect the keys. We will need three sets of keys to all external doors and a set of keys for all window locks. We advise you keep a spare set of window keys. Finding a suitable tenant We will advise the local authority that your property is ready-to-let and start viewings on your property immediately. As soon as a tenant is found, you will be informed. Paying your rent Your lease should be signed and will start on the date the tenancy begins. It is also from this date that we will start your guaranteed monthly rental payments. All rental payments are paid monthly in advance. When the lease is due to end we will alter your payments to monthly in arrears. Managing your property Our property management service guarantees we will visit your property regularly to carry out an inspection and make sure it is being well looked after and well maintained.

GUIDE TO LETTING YOUR PROPERTY 11

Landord’s checklist This handy checklist tells you everything you need to provide before we can start your lease. proof of ownership (land registry document – dated within the last three months or a TR1 form) confirmation of your identity (such as passport or driving licence) original copy of a current electrical periodic inspection safety report (issued in the last six weeks) original copy of the Gas Safe registered landlord gas safety certificate (issued in the last six weeks) an energy performance certificate – Grade D or above maintenance service contract for heating system and hot water breakdown cover building insurance certificate three sets of keys to all internal and external doors a set of window lock keys approval certificate issued by HMRC if you are a non-UK resident landlord You should also ensure that the property is in a condition that an incoming tenant can reasonably expect and all the work identified in your offer letter has been completed. For more information on any of the items mentioned above, see pages 8 and 9 or contact us on 0300 303 0113.

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Contact details Paradigm is an established and progressive housing association and are committed to offering you a trouble-free letting and management service for you and your property.

Paradigm Housing Group has been involved in social housing since 1999 and provides a wide range of housing and support services throughout the South, East Midlands and West London.

For more information contact us today.

The Group has a turnover of £74.8 million (2011/12) with total assets of approximately £916 million (2011/12). Our 440 staff currently manage more than 12,000 homes and we aim to build and acquire around 500 affordable, well-designed, good quality homes for rent and sale over the next year.

 0300 303 0113  [email protected]  www.paradigmhousing.co.uk/landlords

 Paradigm Housing Group 1 Glory Park Avenue Wooburn Green Buckinghamshire HP10 0DF

Paradigm is more than just a housing provider, it provides a range of care and support services to just under 25,000 people. Our stock portfolio contains a diverse mix of tenures including; affordable rent, shared-ownership, key worker housing, foyer accommodation, supported housing, private sale and private rental.

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Tel: 0300 303 0113 Email: [email protected] Web: www.paradigmhousing.co.uk/landlords Paradigm Housing Group provides services to Paradigm Homes, Paradigm Commercial and Paradigm Maintenance and is a not-for-profit housing association registered in England. Industrial and Provident Societies Act 1965, number 28844R. Registered Provider number L4215. Registered office: 1 Glory Park Avenue, Wooburn Green, Buckinghamshire, HP10 0DF. Ref: GLP/5-01/2013