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Landlords

 

Renting your property out through us

We would be delighted to market your property for rental with a view to finding a suitable tenant for you.

 

To ensure your property gets the best possible response from potential Tenants who are looking to find a new home we will offer the same quality of photographs (where possible) as we do for the properties we market for sale plus, unusually for the rental market, we will use a detailed floorplan with measurements and a furniture layout.

 

We want to let your property quickly but we also want to try to get you the best possible Tenant we can as we want you to keep coming back to us each time you need to find a Tenant for that property or any other properties you have.

 

Once we’ve found you a Tenant we need to put them through the referencing process, should they pass you, as the Landlord, will get 12 month’s legal cover at no charge which enables you to evict the Tenant should they stop paying the rent. It does not cover you for any lost rent however we can arrange (via our referencing provider Homelet) for a policy suitable for you to cover this.

 

Our referencing provider Homelet also has many other insurance products that could be of interest such as Landlord’s insurance.

 

Service Packages

 

‘Let Only’: We will market the property, find you a Tenant and then once they’ve passed the referencing process we will sort all the paperwork out for you and your Tenant (Inventory, Tenancy Agreement etc). Once we’ve moved the Tenant in for you as well as registering and protecting their deposit, we will pass everything across to you to liaise with your new Tenant directly.

75% plus VAT of the first month’s rent

 

‘Fully Managed’ (our most popular service): We will do everything mentioned above but be on hand to take control of any issues that arise during the tenancy for you and your Tenant whether it be during our normal office hours or 24 hours a day, 7 days a week for any emergencies. We will let you know of any issues and take your instructions before proceeding with any works. You will also get detailed monthly statements that you can use for your tax returns plus we will carry out quarterly inspections on your behalf to ensure all is well for you, your property and your Tenant in the first year then half yearly thereafter.

 

£225.00 plus VAT: Marketing the property, finding a Tenant as well as preparing and executing the Tenancy Agreement

 

12% plus VAT of the monthly rental figure: Monthly management charge once the tenancy is set up

 

£50.00 plus VAT: Cost per additional property inspection requested by the Landlord (in excess of the included quarterly property visits in the first year or half yearly thereafter).

 

£10.00 plus VAT: Per copy of a monthly management statement (originals are included within the standard monthly management charge)

 

£100.00 plus VAT: Per year-end reconciliation of the rent paid throughout the year when monthly statements have already been issued.

 

£50.00 plus VAT: If we are required to retain tax for overseas Landlords, this will be charged per quarter (no interest paid on monies retained for tax purposes).

 

£25.00 plus VAT: Annual administration charge if the Landlord would like us to provide returns to the Inland Revenue.

 

£250.00 plus VAT: Year-end reconciliation, in line with the Government's Land and Property Tax Return form - Please Note: This is different to a copy of 12 month’s of statements previously issued to a Landlord which is why there is a difference in cost. (receipts, invoices and other documentation will be required from the Landlord before this exercise can be undertaken so for further information please ask a director of the company).

 

£300.00 plus VAT: To terminate our ‘fully managed’ service (minimum period of six months from the start of each new tenancy, after which can be terminated by giving two month's written notice to be submitted on the day of the month that the tenancy started). The termination of this service shall mean the instance were the Landlord is looking to have the rent paid directly to him and dispense with our services after the end of the initial term and/or notice can be arranged.

 

Fees applicable for all services


Deposit
£40.00 plus VAT: Tenant’s Deposit Protection via ‘my|deposits’ who are one of the three Government authorised tenancy deposit protection schemes.

 

£100.00 plus VAT: Our Tenancy Agreements are set up with the appropriate text for a Tenant’s deposit to be held by the company and protected by ‘my|deposits’. In view of this, should the Landlord not wish to use ‘my|deposits’ there will be a need for the text throughout the Tenancy Agreement to be changed to the required text for any of the other two Government authorised tenancy deposit protection schemes.

 

Inventory (Text and Photographic)

• 1 Bedroom Property: £100.00 plus VAT
• 2 Bedroom Property: £125.00 plus VAT
• 3 Bedroom Property: £150.00 plus VAT
• 4 Bedroom Property: £175.00 plus VAT
• 5 Bedroom Property: £200.00 plus VAT

 

 

Withdrawal of acceptance of an offer
If an offer from a Tenant has been accepted by a Landlord and the Landlord then decides to withdraw from the deal and not to proceed to completion or to possession, the Landlord will become liable for the following costs:

Tenant’s Referencing Fees: £90.00 plus VAT per person over the age of 18 that intends to live at property
Tenant’s Administration Fees: £120.00 plus VAT
Landlord’s Administration/Set-Up Fees: £225.00 plus VAT
Landlord’s Inventory Fees: This depends on the size of the property, a breakdown of the costs are above.

 

Tenancy Agreement alterations, updates or additions (not discussed prior to the preparation of the Tenancy Agreement)
£25.00 plus VAT

 

Tenancy Renewals (after initial fixed period)
£185.00 plus VAT: If a Tenant and Landlord do not wish for the tenancy to automatically become a statutory period tenancy (month by month) then a new Tenancy Agreement can be prepared with a new fixed term with the Tenant’s deposit re-registered and protected

 

Sale of Property
0.85% plus VAT (subject to a minimum fee of £1,150 plus VAT): If the Tenant agrees to purchase the property during the Tenancy then our standard sales commission applies. We will negotiate and progress the sale to completion for you and operate on a no sale-no fee basis therefore our fees are only payable on completion.

 

Service of Notice
£50.00 plus VAT: If the Landlord wishes to give notice to the Tenant, we will arrange on his behalf, to service of the most appropriate form of possession notice on the Tenant to require vacant possession of the Property. (10 weeks written warning to the company of intent to end the Tenancy either at the end of the fixed Term, or any extension thereof, or according to the Tenancy Agreement.

 

Deposit Disputes
£100.00 plus VAT: To prepare paperwork when a dispute is raised at the end of a tenancy and handled either by the ADR (alternative dispute resolution service) of a deposit company or the courts.

 

EPC (Energy Performance Certificate)
£100.00 plus VAT

 

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