Landlord Information

Our Service to Landlords

We like to be up front and open about our fees, as well believe we offer the best priced service around.  We have no add on costs unlike most letting agents.

Our Fees

Our tenant find only one off fee is 50% of the first months rent, or a minimum of £200.

For a full management service our charges are based on commission of the rent received.  Our commission rate ranges from 8.5% to 12.5% depending on the number of your properties we manage.

The one off set up fee of £120 per property covers the creation of the agreements, advertising your property, tenant vetting,  inventory and any other work involved.  Tenancy renewals are charged at £36.  That’s it.  No other costs incurred by you from us.  Many agents have their contractors add an amount to the invoice for maintenance works, or additional charges are made for routine home visits, inventories and day to day running.  We don’t.  You know what you are being charged from the start.  We feel it’s the best way to create a working relationship with our landlords which brings about loyalty on both sides.

On receipt of your formal instruction to let your property we will provide the following as part of our Full Management Service:

Marketing

The preparation of the property details including colour photographs for inclusion in our newspaper advertisements, internet marketing and property availability lists. Details will be circulated to suitable applicants already registered with us.

To Let Boards

We will supply and erect a ‘To Let’ board at the property unless instructed otherwise as this provides excellent advertising of your property as part of our overall marketing strategy.

Viewings

We will undertake accompanied viewings of your property, unless instructed otherwise, and will advise you as soon as we receive a formal tenancy application.

Tenant Selection

Normally we will obtain a minimum of three references which would include employer, Bank, former landlord and character appropriate to the circumstances of the applicant. In some cases we may require a Guarantor who would be required to provide suitable references also.

Form of Tenancy

We undertake the preparation and execution of tenancy documentation which in most cases would be an Assured Shorthold on an initial term of six months. Any variation to this would be agreed with the landlord before signature.

Collection and Payment of Rents

We collect rent monthly in advance and pay monies due to a Landlord directly into their bank account by the end of each month. A monthly statement outlining rent payable, commission charges and any expenses incurred during the month will be posted or emailed to the landlord.

Deposits

Whilst circumstances may require a different value deposit our normal policy is to charge a sum equal to the monthly rent plus £100 and all deposits are registered with and held by The Deposit Protection Service. The deposit is payable to meet the cost of any rent arrears at the end of a tenancy or any dilapidations with the exception of fair wear and tear.

Inventory

We will compile an inventory of your property to the best of our ability but you may wish to prepare your own or use the services of an independent inventory clerk. You should be aware that any disputed charge against the deposit paid by the tenant may be settled by arbitration and the inventory will form a crucial part of the evidence and should be in both written and photographic form.

Utilities

We take all meter readings, where possible, at the beginning and end of each tenancy and notify the relevant authorities for gas, electricity, council tax and water of readings and tenant details.

Inspections

We will inspect your property after three months and thereafter at six monthly intervals unless we have any concerns in which case the frequency of the visits is increased. We will notify you of our findings after each inspection together with any recommendations.

Repairs and Maintenance

In the absence of any instruction to the contrary we will deal with any items of repair or maintenance expected to cost up to £100 which will be charged against your income. You will be consulted on any greater costs, except in cases of emergency.

End of Tenancy

We will advise you at the earliest opportunity when we know that a tenancy is to end and unless we are instructed otherwise we will commence marketing immediately.

Check Out

On vacation by a tenant we will undertake an inspection of the property and any dilapidations agreed with the tenant will be rectified and charged to the deposit. We will notify the landlord of our findings and of any dispute with the tenant or of any works that we consider are the responsibility of the Landlord.

Return of Deposit

If agreement has been reached with the tenant we will arrange for repayment of the deposit in full or in part as appropriate but in the event of a dispute we can act for the landlord at arbitration if required.

Whilst the items listed above form part of our Full Management Service we at TLC The Letting Company recognise the different needs of Landlords so we are happy to provide Let Only and Rent Collection as an alternative when required. Please contact TLC to discuss your requirements.

Thelettingcompany.co is a website owned and managed by Richard Gibbs trading as The Letting Company and our VAT number is 876269571.
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