ONE STOP ESTATES

  Letting & Management Services & Fees 

 

 

     

FIND TENANT 

Once we find a suitable tenant we carry out the following:

 

References & Credit Checks are taken which may include: work, bank statements, landlord, guarantor, County Court Judgement searches.  At our best endeavour, we will verify the references and you may choose to do also.

 

Right to Rent Checks are carried out on all tenants to confirm residential status (passport, visa).

 

Tenancy Agreement (A.S.T) is prepared for a period of 12 months. We may sign the tenancy agreement for and on behalf of the landlord.

 

How to Rent Checklist – is forward to the tenants, along with the following certificates: Energy Performance (EPC); Electrical (EICR); Gas Safety (GSC). We can arrange these for you upon request.

 

Deposit of 5 weeks rent is collected as deposit, against the cost of any damages and/or unpaid rent. The deposit will be protected with the Deposit Protection Service (DPS).  The tenant also pays one months’ rent in advance.

 

FULL MANAGEMENT 

The above plus the following:

 

Inventory of the property is taken, including photographs. Cost £180 (inc.vat)

 

Utilities are transferred into the tenants name (Gas, Electric, Water and Council Tax).

 

Property Inspections are carried out throughout the tenancy you will be notified of any irregularities or maintenance issues.

 

Maintenance & Repairs are arranged, at the landlord’s expense, using trusted trades-persons. Permission is always sought if an expense is to exceed £200 (a contingency sum for this amount is required).

 

Rent Collection -rents are collected monthly, in advance, and then transferred to your bank account within 3 working days of funds being cleared by our bank. Statements are sent monthly.

 

Guaranteed Rent: We will guarantee the rent for the first 6 months of the initial tenancy. Terms & Conditions:  (a) The landlord complies with all Landlord Responsibilities. (b) We have first option to recover any unpaid rent, during the 6 month period, from the deposit.

 

Check-outs are carried out end of the tenancy - any costs for damages and/or unpaid rent will be deducted from the deposit and forwarded to the landlord (subject to the terms and conditions of the deposit scheme).

 

Renewals - we will contact you at least 2 months before the tenancy expires to discuss renewing the tenancy and any rent increase.

 

Indemnity - Whether we are the managing agent or just placing the tenant, we cannot be held responsible for any of the following: (a) Breach of tenancy by the tenant(s) including default of rent.  (b) Error or omissions in the inventory preparation. (c) Damage to the property during a tenancy or any time the property is vacant. (d) Bills or debts incurred against the property.

 

Cancellation of Management - a two month written notice is required by either party to terminate the management services. Fees are non-refundable and any guaranteed rent agreement becomes void from the end date of the notice.

 

Landlord Responsibilities (a) maintain the property in good order and continuing to do so throughout the entire tenancy. (b) Continue to pay mortgages & loans in respect of the property. The landlord is responsible for any legal costs in the event of being unable to recover the rent from the tenant and/or Possession notices and court fees.

 

Commissions (Commission example based on a monthly rent of £1,000 x 12 = £12,000 x  8.4%  (inc.vat) = £1,008)

All fees are payable, in advance as soon as the tenancy agreement is signed and the first rent has been paid.

  Place Tenant Only - 7% of the first years rent  (8.4%inc.vat)

  Full Management – 10% of the annual rent. (12% inc. vat)