FAQs for Landlords

If you have a property and are thinking of letting your property, please contact us. We will be happy to talk through what to expect when letting, the different levels of service we offer, our fees and what we do to help you prepare and protect your property. Here are the most popular questions we get asked.


What service do you offer?

We offer free rental valuations, internet and newspaper advertising, accompanied viewings, financial references, rent collection, monthly statements, rent guarantee, ARLA approved tenancy agreements, tenancy deposit protection with The Dispute Service, professional inventories, check-in, check-outs, regular property visits, routine maintenance, ad hoc maintenance and repairs, emergency call outs, tenancy renewals.  We offer a bespoke service tailored to your needs.   Please contact us to find out how we can help you.


How do I get a Buy-to-Let Mortgage?

If you are considering buying a property to let and wish to obtain mortgage advice, you may be interested in the link to ARLA mortgages below. Once you know what price range you are interested in, please contact us and we would be happy to assist you find a good rental property.

arla_mortgages


What fees can I expect to pay?

Our fees are all inclusive, so you will not be surprised with extra agency fees for additional visits or fees added to contractors' invoices.

Our fees for our full management service are 18% (inclusive of VAT) of the gross rent, reduced to 15% (inclusive of VAT) for sole agency.   This covers the following:-

· advertising costs in the Chronicle and Courier

· advertising costs on the internet

· finding a tenant

· taking up financial references

· dealing with your closing accounts (water, gas etc.)

· demanding the rent

· providing you with a monthly rental statement

· inspecting the property quarterly and providing a report, and

· dealing with any problems/maintenance issues that arise throughout the tenancy.

· checking out at the end of the tenancy (surcharge of £12% inclusive of VAT of one month's rent subject to a minimum of £180).

 

Our 'letting and rent collection' service, our fees are 12% (inclusive of VAT) of the gross rent and cover:-

· advertising costs in the Chronicle and/or Courier

· advertising costs on the internet

· finding a tenant

· taking up financial references

· demanding the rent, and

· providing you with a monthly rental statement

· checking out at the end of the tenancy (surcharge of £12% inclusive of VAT of one month's rent subject to a minimum of £180).



I would like to manage the property myself but what are your charges for finding a tenant for me?

Our Finders fees are 90% of one month's rent (inclusive of VAT) for sole agency and include:-

· advertising costs in the Chronicle and Courier

· advertising costs on the internet

· finding a tenant

· taking up financial references.


I have managed the property but would like you to check-out the tenant at the end.  Can you do this?

Yes, as long as there was a check-in at the beginning with a professionally compiled inventory.  Our fees for unmanaged properties are:

Studio : £200.00
1 BED : £240.00
2 BED : £270.00
3 BED : £300.00
4 BED : £340.00
5 BED : £370.00
6 BED : £price on application
This includes providing a check list to tenant, full inventory report, photographic evidence, meter readings, refunding monies held, terminating deposit protection.  In the event that either party wishes to make a TDS submission, we will compile the necessary documentation for a charge of £120 inclusive of VAT per hour.  This typically takes 2-3 hours.

Are there any other fees that I need to consider?

The above fees do not cover drawing up the tenancy agreement which would cost £90 inclusive of VAT or for compiling the inventory. The cost of the inventory (which is a one off cost) will depend on the size of the house:

Studio: £160.00
1 BED : £180.00
2 BED : £180.00 - 260.00
3 BED : £220.00 - 300.00
4 BED : £260.00 - 360.00
5 BED : £360.00 - 450.00
6 BED : £450.00 - 600.00

What fees does the tenant pay for?


The tenant pays for the check-in against the inventory and an additional £90 plus VAT for the check-out.

Do I need to insure my property?

Yes, you must advise your insurer of your intentions to let your property. It is advisable to obtain insurance that covers you for accidental and malicious damage caused by the tenant.  You should also insure minimum contents if you are leaving white goods, carpets and curtains.


I already have a mortgage on the property, do I need to inform my lender that I am going to let?


Yes, you must always seek permission from your lender prior to letting.  They may require extra clauses in the tenancy agreement and their charges may apply.

I live abroad, do you offer a comprehensive service for overseas Landlords?

A large number of our Landlords are overseas and we are used to handling every part of the let. The cost of this is included in our full management service. For individual overseas Landlords obtain approval from the Centre for Non Residents to receive income gross of tax. We will be happy to send you the relevant paperwork, or you can click on the link: http://www.hmrc.gov.uk/cnr/nrl1.pdf. If an overseas company owns the property, another form will be required.


I am going away, can you look after my property for me?

Yes, if you are going away but do not wish to let your property, we do offer a caretaking service.  The cost of this will depend on your requirements and starts from £144 inclusive of VAT per calendar month.