Landlord Guide…..

The key to successfully letting your property is choosing the right agent. We provide a comprehensive Letting & Management service and always strive to keep landlords aware of all relevant legislations, changes in the law and current regulations appropriate to our industry.

Whether you are looking for a tenant find service or will be leaving the country and require a fully managed package our years of experience and knowledge in the industry will give you the peace of mind that your property is in safe hands with an ARLA property mark registered team who will always have your best interests in mind.

Demand for well-presented rental properties in the general Reading area is always high. The selection of suitable tenants is crucial, with strict referencing and right to rent checks we will do all we can to make sure the right people move in to your property. With much tighter controls now in place to protect all parties we submit deposits to the DPS for protection during the tenancy period. We would strongly recommend that all landlords have a professional inventory taken prior to the tenancy commencement to insure the properties high standard is maintained.

We hope that the above will give you an indication of the services we provide however, we are extremely flexible in our approach and are aware that different landlords will have different needs therefore if you have any additional requirements, we will be only too happy to build these into a lettings package specifically for you.

Let only service

Letting accommodation provides a real alternative to selling property, and often proves a sound long-term investment for many people. Before arranging a let, it is necessary to have a clear understanding of the legal requirements of a tenancy, and the implications of the Housing Act 1988, as amended in 1996 and 2004; and other relevant legislation.  It is therefore essential to seek expert advice and guidance before letting your property to avoid possible pitfalls later.  Our Let Only service is designed to find a Tenant for Landlords who have arranged their own management of the property, but require professional supervision whilst locating Tenants and setting up the legal aspects of the Tenancy. 

Our let only service encompasses the following

  • Advice as to the rent attainable for your property and how to maximise this income, including utilising our market knowledge on presentation, furnishing and potential areas requiring attention; enabling you to achieve the highest possible returns
  • All marketing and advertising tools to attract suitable Tenants including property listings on Zoopla.co.uk, OnTheMarket.com and the nation’s favourite property website rightmove.co.uk. Also, in-house advertising to coincide with our own interactive website landmarkestateagents.co.uk; including digital photographs, floor plans and interactive maps where available.
  • Accompanying all prospective Tenants on viewings.
  • Interviewing and thorough referencing of all Tenants.
  • Collection of the first month’s rent payable in advance, along with the equivalent of five weeks rent as security deposit.
  • Deposit registration within our approved and recognised Government backed schemes.
  • Arranging future rental payments direct to you via standing order mandate.
  • The preparation of an inventory of your property before Tenants occupy. Optional service - see the ‘inventories’ section for applicable charges.

NB Where we have organised the inventory, we will arrange for the transfer of services such as gas, electricity, water and Council tax where applicable. It should be noted that while we make every effort to ensure a smooth transfer of accounts, it remains the legal responsibility of the Landlord and the Tenant(s) to advise the respective authorities.

Let & rent collection

Under this service, we offer all the features and benefits of the Let Only service. In addition to this, our Let & Rent Collection service includes:

  • Collection of rent on a monthly basis and transferring net funds accordingly.  Payment will be made directly to your nominated bank account.
  • Each month you will receive a full detailed statement showing all income and any expenditure.
  • We will also arrange for the re-letting of the property to the same or new Tenants on the Landlord’s behalf at the end of the initial agreement period.

Full management

Our Full Management service is a complete management and administration service for Landlords who do not wish to deal directly with Tenants, or who may be unable to monitor a tenancy due to residing overseas or other commitments.

In addition to our Let Only service and Let & Rent Collection service: -

  • We will assemble our own comprehensive management file on behalf of the Landlord, covering all aspects of the property administration including insurance, tax, utilities, service charges, any other rates or taxes, Landlord’s tradesmen, and emergency contact details whether at home or abroad.
  • We will undertake all day to day liaison with the Tenant and Landlord to ensure smooth running of your property, including regular visits. These ‘inspectional’ visits generally usually occur every four months. After each visit, we will submit a written report on our findings.
  • As standard, when appointed in this capacity, the Landlord undertakes to allow Landmark Estate Agents to carry out any repairs costing up to £100.00 + VAT. However, we will endeavour to agree non-emergency repairs with the Landlord before we allow a contractor to carry out any work required. In the event of an emergency situation all work may be authorised. We have established a good working relationship with many local contractors to allow us to provide a cost efficient and professional service to our Landlords. 

Our Full Management service offers the Landlord complete peace of mind with minimum involvement throughout the letting period.

 

 

Landlord Charges

Let only service - 8% (9.6 % inclusive VAT)

Let/Rental collection service - 10% (12% inclusive VAT)

Fully managed service - 12% (14.4% inclusive VAT)

Tenancy set up fee – let and rent collection or full management - £252.00

Tenancy set up fee – let only - £180.00

Guarantor - £60.00

Rent guarantee insurance for additional tenant - £121.00

Upgrade to ‘zero excess’ insurance policy - £48.00

Preparation of tenancy agreements - £108.00

Registering deposit monies - £54.00

Legionella risk assessment - £72.00

Inventory - Dependent on size of property

Check-outs - Dependent on size of property

Tenancy renewals - fully managed and rental collection - £60.00

Tenancy renewals - let only - 50% of original fee

Property visits - let only and rental collection - £60 let only - £54 rental collection

Attendance at Court - £72.00 per hour

Non-resident landlord income return to HMRC - £30.00

Non-resident landlord tax retention and completion for HMRC - £30.00 per quarter

Major works fee - £180.00

 

All fees are including V.A.T unless otherwise specified.

Landmark Sales & Lettings Ltd are members of The Property Ombudsman and subscribe to the Code of Practice for Lettings Agents.

NFoPP Client Money Protection Scheme ref: C0127397