This is our inclusive Service, which provides for the marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we then go ahead and prepare the tenancy agreement, and if required an inventory. The Tenant will then be checked in against the inventory.
During the tenancy we carry out periodic inspection visits. Should these bring to light any maintenance issues, we will (within the confines of our Management Agreement) arrange or recommend any necessary repairs.
Collecting and processing of rental payments is also an important part of our Full Management Service. Rental balances will be credited automatically to the Landlord’s nominated bank account.
Towards the end of the tenancy, we liaise with the Tenant, with a view to renewing the tenancy agreement, or arranging to check them out and re-advertising the property to let.
This Service is suitable for Landlords who are not residing locally, or would rather not deal with the Tenants directly, preferring all aspects to be handled by an Agent.
Our Letting Only Services includes marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we then go ahead and prepare the tenancy agreement, and if required an inventory.
Following this, the first month’s rent and usually a tenancy deposit is collected and credited to the Landlord less our agreed fee. Managing the tenancy, including the maintenance and rent collection, will then be the responsibility of the Landlord.
Letting agencies operate a model similar to budget airlines knowing that landlords focus on % of management fee, rather than the real cost of letting.
To this end, just like booking with a budget Airline, you'll find that you get lots of 'extra's' along the way.
This in our view, leads to most letting agents having a model that has conflicting interests with a landlord. This is probably quite controversial, so let me explain.
A landlord wants a tenant to remain long term. This removes voids (lost rent), repairs (refurb/clear out on changeover), tenant find fees.
Because the market for rentals is so competitive, fewer tenants are now moving. Letting agents make money from churn. i.e. - it is in their interests for tenants to move in / out regularly.
Agents on the other hand make barely any money on low management commission - they do make lots of money on voids! (see the conflict) - Here's how;
- Tenant find fee charged to the landlord
- Application fees charged per tenant & guarantor applying
- Refurb costs - which they can often earn 'hidden' kick backs
- EPC commission
- Check in fees
- Move out fees
- Inventory and condition report charges
- Issue new AST's
- Periodic Inspection Fees
- Lodging / Claiming back deposit
There is a whole raft of issues above which conflict with a landlord wanting to get the best tenant. If an agent charges £300 for 2 applicants and a guarantor to apply for a house, how many applicants will you get? The value is in getting a good, reliable long-term tenant. Not all agents charge the above fees – but it is important that a landlord knows what he is signing up to.
As appointed introducers for several insurance companies we are able to offer a range of insurance policies for landlords, including the following -
- Buildings Insurance
- Contents Insurance
- Rent guarantee
- Legal Expenses
Contact us for further details.
The above is a brief summary of landlords' responsibilities and of the laws surrounding tenanted property. We hope that you find it useful. If there are any aspects of which you are unsure, please ask us. We look forward to being of assistance to you in the letting and management of your property. If you wish you can print this page by using your browser Print option.