We offer a comprehensive management service for overseas Landlords with properties being inspected on a regular basis, Landlords being kept fully informed of the condition of the property, when maintenance is required, the market conditions on changeover of tenancies and in fact every single detail to how the U.K. landlord might be informed.
Terms of each tenancy can be agreed either in writing, or by telephone, or in fact by e-mail and the contract can be e-mailed to the respective client before the tenancy commences. We usually ask for a U.K. resident to have Power of Attorney to sign the contract on behalf of the overseas client, this can be carried out by their Solicitor, Accountant, close family friend or indeed by ourselves with written confirmation.
It is essential that each overseas Landlord who is overseas in excess of 6 months of any one year registers with the Inland Revenue Non Residents Landlord Scheme. Otherwise we are legally required to withhold 22% of the net income and to forward to the Inland Revenue on a quarterly basis.
Details of a UK bank account are required in order that rental payments can be made on a monthly basis.
Where a Landlord is overseas we generally like to agree an amount of money to be held in our clients’ account to cover general maintenance payments, above this level contact to be made with clients overseas.
Woking: 01483 773773