Landlord's Guide

Landlord's Guide

Richard Butler Estate Agents Ltd has established itself as one of the leading estate agencies in the Ross on Wye area. Our offices are situated at strategic locations to provide us with a sound base from which to serve the community. As well as sales and financial services, we specialise in lettings & management.

Our residential lettings department has been established over a number of years. The department believes in offering a quality service unmatched by other agents. Our services are designed to put the landlord first and to ensure the successful management of your property.

We have experienced staff and provide a professional service with honesty and integrity at a competitive price. We believe that good communication with landlord and tenant is vital to the smooth running of the properties that we manage.

Tenants

Finding the right tenant for a property is fundamental. We start by establishing criteria for the sort of person you wish to occupy your property. We then match this to prospective tenants who will be referenced. We use 'Homelet' to provide comprehensive tenant referencing for all our Landlords and only after we receive satisfactory references will we then proceed with a tenancy.

Rent

When we initially assess a property we indicate what we believe to be a realistic rent which is based on present market conditions. This is of course negotiable and something that can be discussed in more detail.

Deposits

We request a deposit for all tenancies. For private tenants, the deposit is equal to 5 weeks rent. Deposits are registered and held with the Deposit Protection Service and help ensure the tenant looks after the property and as a safeguard against unpaid rent. It is refundable at the end of a tenancy, only after the tenant has vacated the property, providing the property and their account are in an acceptable condition.

Legislation

All rental properties are subject to legislation including Gas Safety Certificates, Energy Performance Certificates and Legionella Checks. These are all things we can arrange on your behalf. Please ask if you require further information.

Inventory

A detailed inventory of the property will be compiled prior to the tenant moving in. The inventory will also include meter readings which are then passed on to the appropriate utility companies.

Rental Insurance

We provide a 12 month rental insurance policy for all new tenancies with the option for the Landlord to renew at cost after this period. This covers unpaid rent and legal costs should you need to evict your tenant.

Inspections

We conduct periodic inspections of all tenanted properties. These inspections serve numerous purposes and allow us to visit the tenant to ensure they are taking care of the property. We also check for signs that something may be wrong with the property. If anything needs attention, we will inform the Landlord as soon as possible, helping to reduce the risk of the problem escalating and the potential cost increasing.

Landlord Costs

Landlord Costs – Managed Service

60% of first month’s rent (incl VAT) – minimum of £300 (incl VAT)

Plus a fee of £300 (incl VAT) - this is for the comprehensive referencing of all tenants including fraud checks and a 12 month rent guarantee (with a 1 month excess) including legal costs. More detailed information can be found in the Rent Guarantee section of this pack.

Commission of 14.4% on monthly rent (incl VAT)

This includes:

  • Advertising Property and finding tenant
  • Referencing tenants
  • Rent Protection for 12 months (this can then be continued for £215 per year (incl VAT)) You will have a Rent Recovery Plus policy through Homelet and will be noted as having an ‘interest in’ the policy
  • Preparing tenancy agreement
  • Preparing Inventory of property
  • Taking meter readings and informing utility companies when tenant moves in
  • Arranging Gas Safety Certificate if required (extra charge for engineers cost)
  • Collecting first month’s rental payment
  • Collecting deposit and registering with Deposit Protection Service
  • Holding deposit under Deposit Protection Service
  • Issuing Termination Notices as required
  • Arrange all repairs as necessary – we will always contact you to discuss before any work takes place
  • ·
  • Checking inventory on vacation of property and arbitrating between tenants and landlord in the event of any dispute arising and if a mutual agreement cannot be reached then referring to DPS and providing evidence required.
  • Taking meter readings and informing utility companies when tenant vacates
  • Act as first point of contact with tenant during period of tenancy
  • Deal with any problems that arise during tenancy
  • Collect subsequent rents and issue overdue letters if required
  • Periodic visits to check the property and providing report to Landlord.
  • Serving notices to the tenant when and if required
  • Implementing annual rent increases when due, and if appropriate.

Landlord Costs - Unmanaged Service

90% of first month’s rent (incl VAT) – minimum of £400 (incl VAT)

Plus a fee of £300 (incl vat) - this is for the comprehensive referencing of all tenants including fraud checks and a 12 month rent guarantee (with a 1 month excess) including legal costs. More detailed information can be found in the Rent Guarantee section of this pack.

This includes:

  • Advertising Property and finding tenant
  • Referencing tenants
  • Rent Protection for 12 months (this can then be continued for £215 (incl vat) per year) You will have a Rent Recovery Plus policy through Homelet and will be noted as having an ‘interest in’ the policy
  • Preparing tenancy agreement
  • Preparing Inventory of property
  • Taking meter readings and informing utility companies when tenant moves in and out.
  • Arranging Gas Safety Certificate if required (extra charge – engineers cost)
  • Collecting first month’s rental payment
  • Collecting deposit and registering with Deposit Protection Service
  • Holding deposit under Deposit Protection Service
  • Issuing Termination Notices as required

Please note that we would not have contact with either the Landlord or Tenant during the period of the tenancy.

If the Landlord wishes to find their own tenant, we can carry out all of the above for 60% of the first months rent (incl VAT) with a minimum cost of £300 (incl vat), plus fee of £300 (incl VAT) for referencing and rent guarantee.

Any letters or phone calls requested by the Landlord £30 (incl VAT)

Holding Deposit under Deposit Protection Service

If landlord holding deposit we require proof of scheme and will not be involved in the move out procedure.

We can advise Landlords on scheme information

If we are registering the deposit on behalf of the landlord the landlord will need to check the property at the end of the tenancy and either authorise us to return the deposit to the tenant or advise us of any issues within 7 days of the end of the tenancy. In the event of a dispute the Landlord will need to provide evidence etc, please see the DPS Website for more information regarding this: www.depositprotectionservice.co.uk