The full management service includes:
- Advising as to the likely rental income.
- Advertising and generally marketing the Property.
- Interviewing prospective tenants and taking up references. Where necessary, additional security would be requested by means of a guarantor.
- Preparing the Tenancy Agreement necessary for the Landlord to gain protection of the relevant Rent and Housing Acts, and renewing the Agreement where necessary at the end of the Term.
- Taking a deposit from the tenant* to be held by the Agent until the end of the tenancy when the Property and contents have been checked for damage.
- Collecting the rent and paying over to the Landlord (normally sent within 15 days of collection) less any fees or expenses due or incurred for the period. Payments will be made by direct bank transfer and a rent statement will be forwarded to the Landlord.
- Arranging with service companies (principally electricity gas & water) advising them of the transfer of service contracts to the tenant at the beginning and end of each tenancy where applicable.
- Regular inspections of the Property are carried out. Responsibility for and management of empty property is not normally included, and will only be carried out by special arrangement.
- Coordination of repair or maintenance including arranging for tradesmen to attend the property and obtaining estimates where necessary, supervising works and settling accounts from rents received.
- Making payments on behalf of the Landlord from rents received for costs in managing the property.
- Carrying out a full property inspection and inventory check at the end of the tenancy and dealing with matters relating to unfair wear and tear before releasing the tenants deposit.
- Standard Management Fee charges are 10% of rental income.
Additional items and other expenses will be charged according to the scale of fees defined below.
NOT INCLUDED IN FEES:-
- We highly recommend that a full Inventory, preferably with photographic documentation be carried out. If you wish us to carry out this service a £60.00 fee (excluding VAT) will be payable. We recommend this for every new tenancy, although we are often able to offer renewal inventories at a lower rate.
- If you require our funding for any services then a 15% surcharge will be applicable
- Major costs i.e roofs, central heating systems can be organised at your request, however, payment in full will be required immediately upon completion of the work
- We can use whichever trade supplier you wish but have a tried and trusted team of external contractors available if you prefer
Although the aim is to take every care in managing the Property, the Agent cannot accept responsibility for the non-payment of rent, damage or other default by tenants, or any associated legal costs incurred in their collection. An insurance policy is recommended for this eventuality.
* Please note that all bonds collected have to registered with a Tenancy Deposit Scheme; we are registered with MyDeposits and, unless informed otherwise, will use the Insurance Based Scheme to registered bonds, the cost of which is currently £13.00 (excluding VAT) per deposit registration.