If you currently own or intend to purchase residential property for rental in North/East London areas, you should consider engaging our property management service. You'll find it both professional and cost-effective. As we are specialists, we know how to manage property for optimum performance, whilst ensuring smooth running tenancies, and compliance with the various landlord/tenant laws. Maximise the return on your investment - contact us now. If you own or intend purchasing residential property for rental in any other area, please go to our UK Network page.
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Our Services include:
Visiting you at your property, and providing a rental valuation and any other advice which you may require about letting your property.
Advising you on compliance with the various safety regulations.
Locating suitable tenants. Your property will be advertised if necessary, however we have excellent contacts with various company and other establishment personnel departments, and furthermore usually have tenants waiting.
Accompanying tenant applicants to view the property.
Obtaining and evaluating references and credit checks.
Preparing a suitable tenancy agreement and arranging signature by the tenant.
Collecting and holding as stakeholders a deposit (bond) from the tenant.
Preparing an inventory and schedule of condition.
Checking the tenant into the property and agreeing the inventory.
Supervising the transfer of gas, electricity and council tax accounts into the tenant's name.
Receiving rental payments monthly in advance, and paying you promptly, together with a detailed statement from our computerised management systems.
If required paying regular outgoings for you from rental payments.
Inspecting the property periodically, and reporting any problems to you.
Arranging any necessary repairs or maintenance, first liaising with you in the case of larger works.
Keeping in touch with the tenant on a routine basis, and arranging renewals of the agreement as necessary.
Checking tenants out as required, reletting and continuing the process with the minimum of vacant periods to ensure that you receive the optimum return from your property.
We maintain a flexible attitude, and are generally able to adapt our service to meet our client's individual circumstances and needs, for example by providing a part only service, or alternatively by taking on additional tasks and duties.
Our Fees
Our initial letting and advertising charge is just 7% inclusive rent guarentee insurance,"subject terms and conditions" and our ongoing management commission is only 8% of monthly rental payments. We make an admin charge of One week of the rent for each renewal of an existing agreement. There is also NO VAT to pay giving you even greater RETURN ON YOUR INVESTMENT.
There are no other standard fees or charges. No up front charges - nothing to pay until a tenant moves in and starts paying rent.
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Guide for Landlords
Before a property can be let, there are several matters which the owner will need to deal with to ensure that the tenancy runs smoothly, and also that he/she complies with the law. For brief details of a subject click on a blue link below, or scroll down the page. If you require further advice or assistance with any matter, please do not hesitate to contact us:
Mortgage
If your property is mortgaged, you should obtain your mortgagee's
written consent to the letting. They may require additional clauses
in the tenancy agreement of which you must inform us.
Leaseholds
If you are a leaseholder, you should check the terms of your lease,
and obtain the necessary written consent before letting.
Sub-Lettings
If you are a tenant yourself, you will require your landlord's consent.
Insurance
You should ensure that you are suitably covered for letting under
both your buildings and contents insurance. Failure to inform your
insurers may invalidate your policies. We can provide information on Landlord's
Legal Protection, and Landlord's Contents insurance if required.
Bills and Regular Outgoings
We recommend that you arrange for regular outgoings e.g. mortgage,
service charges, maintenance contracts etc. to be paid by standing
order or direct debit. However, where we are Managing the property,
by prior written agreement we may make payment of certain bills
on your behalf, provided such bills are received in your name at
our office, and that sufficient funds are held to your credit.
Council Tax
Council tax is the responsibility of the occupier. You should inform
your local collection office that you are leaving the property.
During vacant periods the charge reverts to the owner. When unoccupied
but furnished, the charge is 50% of the normal rate. When unoccupied
and 'substantially' unfurnished, there is no charge for the first
six months, and thereafter a charge of 50% of the normal rate.
The Inventory
It is most important that an inventory of contents and schedule
of condition be prepared, in order to avoid misunderstanding or
dispute at the end of a tenancy. Without such safeguards, it will
be impossible for the landlord to prove any loss, damage, or significant
deterioration of the property or contents. In order to provide a
complete service to the landlord, we will if requested arrange for
a member of staff to prepare an inventory and schedule of condition,
at a cost to be quoted.
Income Tax
When the landlord is resident in the UK, it is entirely his responsibility
to inform the Inland Revenue of rental income received, and to pay
any tax due. However, where the landlord is resident outside the
UK during a tenancy, under new rules effective from 6 April 1996,
unless an exemption certificate is held, we as landlord's agents
are obliged to retain and forward to the Inland Revenue on a quarterly
basis, an amount equal to the basic rate of income tax from rental
received, less certain expenses. An application form for exemption
from such deductions is available from this Agency, and further
information may be obtained from the Inland Revenue.
Important Safety Regulations
The following safety requirements are the responsibility of the
owner (the landlord), and where we are to manage the property, they
are also ours as agents. Therefore to protect all interests we ensure
full compliance with the appropriate regulations, at the owner's
expense.
Appliances and Equipment
Under the Gas Safety (Installation and Use) Regulations 1994 (amended
1996) and some other regulations, all gas appliances in tenanted
premises must be checked for safety at intervals of not more than
12 months, by a CORGI registered gas engineer, and a safety certificate
issued. Records must be kept of the dates of inspections, of defects
identified, and of any remedial action taken.
Electrical Appliances and Equipment
Under the Electrical Equipment (Safety) Regulations 1994, the Plugs
& Sockets etc. (Safety) Regulations 1994 and some other regulations,
electrical installations and equipment in tenanted premises must
be safe. Although (unlike gas) no safety certificate is legally
required, and therefore it may be adequate to perform a visual check
of electrical equipment, fittings and leads, it is recommended that
a qualified electrician be engaged for this purpose.
Furniture and Furnishings
The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (amended
1989, 1993 & 1996) provide that specified items supplied in the
course of letting property must meet minimum fire resistant standards.
The regulations apply to all upholstered furniture, and beds, headboards
and mattresses, sofa-beds, futons and other convertibles, nursery
furniture, garden furniture suitable for use in a dwelling, scatter
cushions, pillows, and non-original covers for furniture. They do
not apply to antique furniture or furniture made before 1950, bed
clothes including duvets, loose covers for mattresses, pillowcases,
curtains, carpets or sleeping bags. Therefore all relevant items
as above must be checked for compliance, and non-compliant items
removed from the premises. In practice, most (but not all) items
which comply must have a suitable permanent label attached. Items
purchased since 1.3.90 from a reputable supplier are also likely
to comply.
General Product Safety
The General Product Safety Regulations 1994 specify that any product
supplied in the course of a commercial activity must be safe. In
the case of letting, this would include both the structure of the
building and its contents. Recommended action is to check for obvious
danger signs - leaning walls, broken glass, sharp edges etc., and
also to leave operating manuals or other written instructions about
high risk items, such as hot surfaces, electric lawnmowers, etc.
for the tenant.
Preparing the property for letting
We have found from experience that a good relationship with tenants
is the key to a smooth-running tenancy. As Property Managers the
relationship part is our job, but it is important that the tenants
should feel comfortable in their temporary home, and that they are
receiving value for their money. This is your job. Our policy of
offering a service of quality and care therefore extends to our
tenant applicants too, and we are pleased to recommend properties
to rent which conform to certain minimum standards. Quality properties
attract quality tenants.
General Conditions
Electrical, gas, plumbing, waste, central heating and hot water
systems must be safe, sound and in good working order. Repairs and
maintenance are at the landlord's expense unless misuse can be established.
Appliances
Similarly, appliances such as washing machine, fridge freezer, cooker,
dishwasher etc. should be in usable condition. Repairs and maintenance
are at the landlord's expense unless misuse can be established.
Decorations
Interior decorations should be in good condition, and preferably
plain, light and neutral.
Furnishings
It is recommended that you leave only minimum furnishings, and these
should be of reasonable quality. It is preferable that items to
be left are in the property during viewings. If you are letting
unfurnished, we recommend that the property contains carpets, curtains,
and a cooker.
Personal Items and ornaments
Personal possessions, ornaments, pictures, books etc. should be
removed from the premises, especially those of real or sentimental
value. Some items may be boxed, sealed and stored in the loft at
the owner's risk. All cupboards and shelf space should be left clear
for the tenant's own use.
Gardens
Gardens should be left neat, tidy and rubbish-free, with any lawns
cut. Tenants are required to maintain the gardens to a reasonable
standard, provided they are left the necessary tools. However, few
tenants are experienced gardeners, and if you value your garden,
or if it is particularly large, you may wish us to arrange maintenance
visits by our regular gardener.
Cleaning
At the commencement of a tenancy the property must be in a thoroughly
clean condition, and at the end of each tenancy it is the tenant's
responsibility to leave the property in similar condition. Where
they fail to do so, cleaning should be arranged at their expense.
Mail Forwarding
We recommend that you make use of the Post Office redirection service.
Application forms are available at their counters, and the cost
is minimal. It is not the tenant's responsibility to forward mail.
Information for the tenant
It is helpful if you leave information for the tenant on operating
the central heating and hot water system, washing machine and alarm
system, and the day refuse is collected etc.
Keys
You should provide one set of keys for each tenant. Where we are
Managing we will arrange to have duplicates cut as required.