This service is designed for landlords who do not wish to deal with the day-to-day on-going management of their property. Simply hand over the keys to us and we will do the rest. Our aim is to maximise your rental income and to minimise any rental voids during the year. The managed service includes all the benefits of the let only service plus more:
Before the tenant moves in we produce an inventory report, listing any items in the property, visible defects supported by photos. This is usually sufficient when it comes to carrying out the move out procedure too.
Rent Collection & Arrears Control
Rent is paid to us each month by the tenant, from which we deduct our fees, along with any costs incurred on the property and pay the balance directly to you by BACS. You will also be emailed a statement every month detailing income and expenditure. Care in getting the right tenant from the start minimises problems in the event that arrears start to accumulate, we have a set procedure to recover them. Initially this involves phone calls, followed by letters, texts and home visits if required. This does minimise arrears, however, in the rare event payment issues remain unresolved, we can advise on further steps such as the appointment of solicitors, possession by court proceedings etc.
Regular Property Inspections
For managed properties we usually carry out an initial inspection after approximately eight weeks to check the tenant has moved in alright and is keeping the property as agreed. Following this initial visit, we will generally schedule inspections approximately every four months. After each inspection you will receive a report highlighting general condition and listing any problems noted.
We have an excellent team of experienced local contractors who are well equipped to deal with any property maintenance related issues. Most of our contractors have worked with us for many years, any issues reported to us by tenants are dealt with swiftly and efficiently. We are happy to work with your preferences on property maintenance. For example, some landlords want to know about every little thing that goes wrong at their property, whilst others just want us to get on with it. Tell us your preference and we’ll go by your
instructions. If you have your own contractors that you’d prefer us to use, that is also fine. Just give us their details and we will add them to our system.
Moving out Procedure
For our managed properties we also complete a full move out procedure. This involves meeting the tenant at the end of the tenancy and thoroughly checking the property. Any discrepancies with the original inventory or any substandard cleaning will be highlighted and dealt with accordingly from deposit. This can be the most unpleasant and difficult part of renting a property and this is where our experience is invaluable.
Our professional service fees
Our typical charge for the Managed service is 10% of the monthly rent but you Lettings manager will discuss this with you.
You have the option to take out a Rent Guarantee insurance to protect your rental income and legal costs, should issues occur with the tenant in the future at the cost of 3.5% of the monthly rent. Please click here for more information.
- Tenant reference – £30 per tenant (These are compulsory if taking out the rent Guarantee insurance)
- Gas Safe certificates – £60 per appliance
- Energy performance certificate (Valid for 10 years) – £70
- Electrical Condition Inspection report (Valid for 5 Years) – £140.00
- Inventory – £100 Before the tenant moves in we produce an inventory report, listing any items in the property, visible defects supported by photos.
- Landlord’s Building & Contents Insurance – A quote can be requested.