Frequently Asked Questions
What area of London does Marybow Property cover?
Primarily, we let and manage an array of beautiful flats and houses in London zones 1 and 2. Please enquire directly to info@marybowproperty.com.
How much will it cost me to let my property?
In accordance with the Consumer Rights Act 2015, our fees are publicly available here.
What’s the difference between letting and having a managed service?
Letting means a tenant-finding service only while a managed service means we will take away the hassle of looking after the property and the tenants. The key difference is that we are your 24/7 contact for your tenants at all times. Relevant blog post here.
How much does it cost to have my property managed?
Do I need to tell my mortgage company of my intention?
Yes, you need to declare that you are intending to rent a property and you need permission in writing. Depending on the lender, they can give you a 1- to 2-year permission or will ask you to switch to a buy-to-let mortgage.
Do I have the right to enter my property while it is being rented out?
As a landlord, you have primary rights of entry but these are statutory-regulated according to the Housing Act 1988; for example, you need to give at least 24 hours’ notice to the tenant. However, rights of entry are rather more complex than just paying a visit and we are happy to advise you on this matter.
Do I need to attend viewings?
No, there is no need to attend viewings as we always accompany prospective tenants.
What do I need to provide for the property, i.e. furniture/equipment, etc?
It is absolutely fine to let out a property without furniture if it is marketed as ‘unfurnished’. If, on the other hand, the property is going to be marketed as ‘furnished’, then tenants would expect as a minimum a bed, side table, wardrobe, chest of drawers, dining table set, coffee table and sofa . We are happy to give guidance when we first visit your property for a free valuation.
How is the inventory managed?
If you have not specifically declined an inventory, we engage independent and highly experienced inventory clerks.
When would I expect to receive my rent each month?
This depends on what day the rent clears but we aim to disburse between 3-5 working days.
What happens if the tenant damages the property?
This is extremely rare for us as our tenants are very responsible. But should damage occur, we carry out a thorough check-in and check-out report so we can compare the state of the property. At the end of the tenancy, we draw up a dilapidations report. We will then take care to negotiate on your behalf a mutually agreeable solution to have any damage remedied. In the unlikely event that we fail to adjudicate this successfully, we will hand the matter over to the Deposit Protection Service, who offers a free, evidence-based Alternative Dispute Resolution service.
What happens if something needs repairing that is not the fault of the tenant?
If the service we provide you with includes management, we will be authorised to send contractors to your property for maintenance and repairs purposes. The cost will normally be paid from your next month’s rent.
What happens if the tenant doesn’t pay the rent?
If non-payment does happen, we will be on it from the day after the rent is due. We take extreme care to respect the relationship we have with tenants and to discover the problem. We have a solid procedure in place and can advise further should this happen.
Will I have to pay tax on my rental income?
Yes. If you are a UK resident, you must register for self-assessment and declare income tax to the HMRC. If you are an overseas landlord, we are happy to advise you on how to register as a Non-Resident Landlord.
Do you cover commercial lets?
Our focus is currently on residential properties only.
Will you help me furnish an empty property?
Certainly. As we offer a refurbishment service, we have excellent relationships with various suppliers.
Will you help me spruce up the property?
Yes. We have completed numerous redecoration and refurbishment projects for our clients. Please let us know your requirements.
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Lia and her team are trustworthy, efficient, cost conscious and extremely responsive. I would highly recommend anyone looking to rent, sell, buy in London. Her knowledge of the London property market is unparalleled.
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