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Why Let Your Property ?
Many people let their properties purely as an investment, however, it may become necessary to do so because you may be moving away, either from the area or leaving the country. Renting your property means that you retain an interest in the property market, particularly in poor market conditions when you may not be able to sell. Being away from your property for long periods of time can leave it open to all sorts of dangers, including vandalism, squatters or just general disrepair.
What Type Of Property?
We rent out properties from small flats to large houses and student accommodation, both furnished and unfurnished, but those which attract the most demand from quality tenants will be those which are in good decorative order and in convenient locations with good communication links.
How Much Rent Will I Receive?
We will visit your property and advise you on the likely amount of rent you will receive and any suggestions we may have which will enhance finding a tenant.
What Happens Next?
Your property will be added to our list of available rental properties and prospective tenants. We do not, of course, divulge addresses at this early stage. Having found a prospective tenant we will proceed to take up references, usually Bank, Employer, and, if applicable, an existing landlord reference. On receipt of satisfactory replies to these references we will draw up the agreement of an assured shorthold tenancy.
In the case of furnished property, an inventory of contents and condition will be prepared for which a charge is made.The tenants will receive a copy of this to check and agree once they have moved in and a signed copy will be retained on our files. In the case of unfurnished property, a schedule of condition will be drawn up in order to ensure that the property at the end of the tenancy is left in a similar condition to that at the beginning of the period, always allowing for reasonable wear and tear. During the period of the tenancy, we will inspect the property from time to time to ensure that all is well.
Payment Of Rent?
All the rents are paid monthly in advance. On receipt of the rent we allow 14 working days for the cheque to clear and we will then deduct our charges and forward payment to the landlord directly into their account.
What Happens At The End Of The Tenancy?
At least two months prior to the end of the six month period, notice will be given to the tenant, irrespective of whether the tenancy is likely to be renewed or not. Nearer to the date of the end of the tenancy, we will then arrange for the tenants to leave or renew the tenancy, whichever has been agreed. At the commencement of the tenancy the tenant will pay a deposit of a sum equal to one month's rent, which will be held in our Clients' Account until the end of the tenancy and will then only be returned to the tenant on satisfactory vacation of the property, including proof of all bills being paid.
Services ?
The services to the property, gas, water, electricity and telephone, will all be placed in the tenants' name and they will be responsible for the payment of all accounts. You must ensure that all these utilities are informed that you will be vacating the premises, although in the case of British Telecom the tenant will also need to contact them in order to place the telephone in their name.
Finance ?
If your property is the subject of a mortgage, you must obtain permission from the mortgagee to let the property, and we suggest that this is done at an early stage in order to avoid unnecessary delay .
Insurance ?
The landlord is responsible for insuring the building and contents. The tenant is responsible for insuring their own possessions brought into the property.
Our Charges ?
Our fee structure is twofold.
A. Should the landlord wish us to manage the property from the beginning of the tenancy through to the tenants leaving, then we will charge 12% of the gross monthly rent. The landlords will be charged a fee of £75 to cover the collecting and checking of references and the drawing up of the Agreement. The tenant will be charge a referencing fee (which is non refundable and is per applicant) of £65.00 and an administration fee of £58.75 inclusive of vat, per person.
B. We also have an "Introduction only" fee, which is £200 or half the first months rent,whichever is the higher figure. On this basis, we will then introduce the tenant, set up the Agreement, and then pass responsibility to the Landlord. Inventories are extra.
We have tried to cover most points in this website, however, if you have any queries or require any further information, please do not hesitate to contact us. We are here to help and advise you and our experienced staff are just a phone call away.
All lettings subject to status and references.
We offer two levels of REFERENCING.
We currently undertake references using a company called Homelet.
1. Financial profile. This provides a credit rating and checks for undisclosed County Court Judgements and other detrimental credit history. This guarantees the rent for the first six months and is offered at no extra cost to the landlord.
2. Premier Rent Guarantee. This is a renewable twelve month guarantee policy available for an extra charge.
For full details about our lettings and management service, please click to download the following PDF Documents:
Fully Managed Property Agreement
Tenant Introduction Only Agreement