Landlords

Assisting both new and experienced landlords alike

All data from averaging our sales and letting figures for 2015

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Two options to suit your needs

Fees To Landlords

Introduction Only

The fee is 60% of the first month’s rent plus vat subject to a minimum fee of £720 including vat. For example, if the monthly rental is £1000, you will pay a fee of £720 including vat. We must make it clear that if the amount achieved is higher or lower than the example, then our fee will correspondingly be higher or lower. This fee is payable when the tenancy is agreed and will be deducted from the monies received from the tenants.

Includes:

• Agree the market rent and find a tenant in accordance with the landlord guidelines
• Carry out accompanied viewings (as appropriate)
• Market the property and advertise on relevant portals
• Erect board outside property in accordance with Town and Country Planning 1990
• Collect and remit initial months’ rent and deposit received
• Provide tenant with method of payment
• Prepare tenancy agreement and prescribed information
• Deduct any pre-tenancy invoices

Optional Additional Service

Check-in form, handover keys, take meter readings & contact utilities	£78 including vat
Written Inventory compiled and signed off by lead tenant	£180 including vat
Protect the security deposit with a Government authorised scheme	£50 including vat
Prepare submission to DPS deposit dispute	£144 including vat
Check out inspection, take meter readings & contact utilities	£180 including vat

 

Fully Managed       

The fee for our services will be 25% of the first month’s rent plus vat subject to a minimum of £360 including vat plus 12% + vat of each month’s rent for the duration of the tenancy.

For example, if the monthly rental is £1000, you will pay a fee of £360 including vat plus £144 including monthly vat. We must make it clear that if the amount achieved is higher or lower than the example, then our fee will correspondingly be higher or lower where applicable.

The fee is payable when the tenancy is agreed and will be deducted from the monies received from the tenants. Every subsequent let will be charged at a fixed fee of £360 including vat and then monthly management fee there after. Obtaining estimates and supervision of major works carried out over £240 including vat: £28.80 including vat of total bill.

 

Includes:

• Agree the market rent and find a tenant in accordance with the landlord guidelines
• Provide guidance on compliance with statutory provisions and letting consent
• Market the property and advertise on relevant portals and carry out accompanied viewings
• Erect board outside property in accordance with Town and Country Planning 1990
• Advise on non-resident tax status and HMRC (if relevant)
• Collect and remit initial months’ rent and log deposit received with authorised scheme
• Pursue non-payment of rent and provide advice on rent arrears actions
• Deduct commission and other works
• Advise all relevant utility providers of changes
• Prepare written inventory and carry out check out inspection
• Undertake a minimum of two inspections per annum and notify landlord of the outcome
• Arrange repairs and instruct Edward’s maintenance team or landlord’s contractors if provided.
• Hold keys throughout the tenancy term
• Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy
• To remit and balance the financial return to HMRC quarterly and respond to any specific query relating to the return from the landlord or HMRC
• Rent review as and when appropriate

Optional Additional Service

• Prepare submission to DPS deposit dispute                                £144 including vat

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A few of the regulatory requirements and possible fines for noncompliance are…

• Tenancy Deposit – noncompliance of legislation means that you can be fined a hefty 3 times the deposit amount.
• Furniture & Regulations – noncompliance of legislation means could mean a £5,000 fine and/or six months imprisonment.
• Right to Rent checks & Immigration checks – You can be fined up to £3,000 for renting your property to someone who isn’t allowed to rent property in England.
• Landlord’s Right of Entry – It is in fact illegal for a landlord or agent to enter the property without permission from the tenant. Ultimately, a landlord has no right of entry unless the tenant grants them access or the landlord is given permission by the courts.
• How to Rent guide – It is part of the new legislation, which means you won’t be able to repossess your property without providing your tenant with the booklet. It should not be taken lightly.
• Rent Increase – If you try and increase rent unfairly the tenant can refuse and defer it to the Rent Assessment Panel
• General Upkeep & Repairs – The Landlord and Tenant Act 1985 sets out the rights and responsibilities of both landlord and tenant. If not dealt with in a certain way and in a certain time frame you may relinquish your right to be able to serve your tenants notice.
• Legionella Assessment – Do you know what legionella is… don’t worry we do and we’ll deal with it via our fully managed rental service.
• Prescribed Information – noncompliance of legislation means you forfeit your right to be able to serve a notice, i.e you will not be able to get your tenants out when you want.
• Smoke and Carbon Monoxide Alarm Regulations – Responsibility for the enforcement of the legislation lies with the relevant local housing authority, and breaches of the guidance can be punished by a fine of up to £5000.
• Electrical Saftey – noncompliance of legislation constitute a criminal offence under the Consumer Protection Act 1987 that carries a maximum penalty on summary conviction of a £5000 fine and/or six months imprisonment.
• Gas safety Certs – Failure to comply with these regulations may lead to prosecution and/or imprisonment with fines up to £25,000.

These are only a few of the pitfalls in residential lettings. We are informed so that you don’t have to be so sign up to our Fully Managed package today.