LANDLORDS
Services
Letting Only (Non Managed)
Having appointed LAB ESTATES as Agent upon signing this Agreement, the Agent will provide the following services:
- Value the Property in terms of expected rental income and advise the Landlord on all relevant/related matters and any action required to make the Property suitable for letting.
- Promote the Property to identify a suitable tenant.
- Arrange accompanied viewings for prospective tenants
- Obtain references and/or a credit report of prospective tenant/s for approval. Including right to rent checks
- Draw up the standard form of Tenancy Agreement and service any statutory notices.
- Collect first month’s rent and security deposit which is equal to five weeks rent unless otherwise agreed with the landlord or agent.
- On receipt of initial rent payment, deduct fees and forward balance of money to Landlord via BACS transfer unless otherwise agreed, within 7 working days.
- Advise Utility Companies (gas, electricity and water), local Council authority of the new tenants at the commencement of the tenancy. This service will only be provided when the Landlord has provided the Agent with access to the meters.
- Provide tenant with details to pay rents direct to the Landlord’s account.
- Provide the Tenant/s with access to the property including all necessary access codes, keys, fobs and car parking fobs if required.
- To erect a ‘To Let’ board outside the property where considered appropriate by LAB ESTATES unless otherwise instructed by the Landlord.
- Contact both Tenant/s and Landlord to arrange extension of tenancy agreement. Where ever possible (unless the Landlord has previously notified the Agent in writing that they do not wish to renew), the tenancy will be renewed or extended to the same tenant originally introduced by the Agent.
- To provide Energy Performance Certificate for the Property at a cost of £75.00. The EU Directive on the Energy Performance of Buildings 2002/92/EC requires that a calculation of the energy performance of almost all buildings be acquired. An Energy Performance Certificate provides an environmental impact (CO2) rating for any residential dwelling, and must be made available when a building is constructed, sold, or rented.
Letting & Management
In addition to the above, the following services will also be included:
- Carry our quarterly inspections at the Property and advise the Landlord on the state and condition of the Property.
- Liaise between Tenant/s and Landlord in all matters relating to the property throughout the term of the Tenancy.
- Contact both Tenant/s and Landlord to arrange extension of tenancy agreement. Where ever possible (unless the Landlord has previously notified the Agent in writing that they do not wish to renew), the tenancy will be renewed or extended to the same tenant originally introduced by the Agent.
- At the end of the Tenancy arrange collection of all keys and entry fobs, check the inventory and prepare, if appropriate, a schedule of dilapidations for agreement between the Landlord and the Tenant/s.
- Return the security deposit to the Tenant/s less any deductions in accordance with the Deposit Protection Service.
- Demand rents and forward such, less our fees to the Landlord on the working day it is received. Payments will be via direct bank transfer, unless otherwise stated by the Landlord, and a detailed rent statement will be forwarded to the Landlord.
- Carry out the duties of the Managing Agent in regard to any repairs and statutory obligation on the Landlords behalf.
- Making payments on behalf of the Landlord from rents received for costs in managing the property.
- Co-ordination of repair or maintenance including arranging for tradesmen to attend the Property and obtaining estimates where necessary, supervising works and settling accounts from rents received.
- Maintenance of Gas and Electrical Safety records in accordance with current legislation throughout the term of the tenancy.
- Set up a monthly standing order, payable by the tenant/s direct to LAB ESTATES
FEE’s
- Letting only – 50% of the PCM rent – (Minimum fee £500)
- Letting and Management – 10 % of each month’s rent.
- Provide a photographic fully conditioned inventory and schedule of condition of the property’s contents – from £65.00 depending on size of property & furnishing type.
- Gas Safety Certificate (if applicable) – £90.00
- Provide an amended photographic fully conditioned inventory and schedule of condition of the property’s contents – £50.00 + VAT
- Energy Performance Certificate – £75.00
- Check Out for Non Managed Tenancies – from £50 depending on size & furnishing type
Fee’s/prices are inclusive of vat.
Property sourcing
- We can assist in finding landlords their first or next investment property. This service is ideal for landlords based abroad.