Landlord's Guide

LANDLORD’S GUIDE

Richard Butler Estate Agents Ltd

Richard Butler Estate Agents Ltd is an established estate agency operating in Ross-on-Wye and surrounding areas. We provide residential sales, lettings, and property management services.

Our lettings department is built on professionalism, transparency, and clear communication between landlord, tenant, and agent to ensure effective property management.

1. TENANT SOURCING & REFERENCING

We establish landlord requirements for suitable tenants and match applicants accordingly.

All prospective tenants are subject to comprehensive referencing, which may include:

  • Credit and affordability checks
  • Employment and income verification
  • Landlord referencing
  • Fraud prevention checks
  • Right to Rent checks
  • Sanctions and AML screening

Referencing is carried out via an independent referencing provider.

A tenancy will only proceed once satisfactory referencing has been completed.

2. RENTAL VALUATION

We will advise on a market-based rental figure using current local demand and comparable properties. This figure is a guide and may be adjusted based on market response.

3. HOLDING DEPOSITS

Where a holding deposit is taken, it will be handled in accordance with the Tenant Fees Act 2019.

The holding deposit may be retained only in the following circumstances:

  • The applicant withdraws from the proposed tenancy
  • The applicant provides false or misleading information that materially affects their suitability
  • The applicant fails a Right to Rent check
  • The applicant fails to take reasonable steps to enter into the tenancy within the agreed deadline

Where the tenancy proceeds, the holding deposit will be credited toward the first month’s rent upon signing of the tenancy agreement and commencement of the tenancy.

4. TENANCY DEPOSITS

A tenancy deposit equivalent to five weeks’ rent is required for all tenancies.

Deposits are protected within a government-approved tenancy deposit protection scheme (currently the Deposit Protection Service – DPS).

The deposit is held as security against:

  • Damage to the property
  • Unpaid rent
  • Breach of tenancy obligations

Deposits are normally refundable at the end of the tenancy, subject to the property being returned in an acceptable condition and all obligations being met.

5. LEGAL COMPLIANCE

All rental properties must comply with relevant legislation, including but not limited to:

  • Gas Safety Regulations
  • Electrical Safety Standards (EICR)
  • Energy Performance Certificate (EPC) requirements
  • Legionella risk awareness

We can arrange compliance certification on behalf of landlords where required (contractor costs apply).

6. INVENTORY & CHECK-IN

A detailed inventory and schedule of condition will be prepared prior to the start of each tenancy. This will include meter readings and photographic evidence where appropriate.

The inventory forms the basis for end-of-tenancy deposit assessment.

7. PROPERTY MANAGEMENT

Where a property is fully managed, we will:

  • Carry out regular inspections
  • Report maintenance issues promptly
  • Coordinate repairs (with landlord approval where required)
  • Handle tenant communication
  • Manage rent collection and arrears
  • Support end-of-tenancy processes

Inspection reports will be provided to the landlord after each visit.

8. RENT COLLECTION & ARREARS

Rent is collected monthly in advance.

Where rent becomes overdue, we may charge interest at 3% above the Bank of England base rate once rent is more than 14 days overdue, in line with permitted payment rules under the Tenant Fees Act 2019.

9. INSURANCE & RENT PROTECTION (WHERE APPLICABLE)

Where included in the managed service, rent protection and legal expenses insurance may be provided for an initial fixed period (typically 12 months), subject to insurer terms and renewal conditions.

Renewal costs will be advised prior to expiry.

10. FEES & SERVICES

FULLY MANAGED SERVICE

  • 60% of first month’s rent (incl. VAT) – minimum £300 (incl. VAT)
  • 14.4% (incl. VAT) monthly management fee

Includes:

  • Marketing and tenant sourcing
  • Full referencing and Right to Rent checks
  • Tenancy agreement preparation
  • Inventory and check-in report
  • Deposit protection administration
  • Holding deposit handling
  • Rent collection and arrears management
  • Maintenance coordination
  • Property inspections
  • End-of-tenancy check-out support

LET-ONLY SERVICE

  • 90% of first month’s rent (incl. VAT) – minimum £400 (incl. VAT)
  • £120 (incl. VAT) referencing and administration fee

Includes:

  • Marketing and tenant sourcing
  • Tenant referencing and Right to Rent checks
  • Tenancy agreement preparation
  • Inventory preparation
  • Deposit collection and registration
  • Initial rent collection

LANDLORD-INTRODUCED TENANT

Where the landlord sources their own tenant:

  • 60% of first month’s rent (incl. VAT) – minimum £300 (incl. VAT)
  • £120 (incl. VAT) referencing fee

11. ADDITIONAL PERMITTED PAYMENTS

Where applicable under legislation:

  • Variation, assignment or novation of tenancy: up to £50 (incl. VAT) or reasonable costs if higher
  • Late rent interest: 3% above Bank of England base rate (where rent is overdue by more than 14 days)
  • Lost keys / security devices: actual reasonable cost of replacement

12. SELF-MANAGED TENANCIES

Where a landlord selects a non-managed service:

  • The landlord is responsible for day-to-day management
  • The agent will not handle ongoing maintenance or tenancy communications unless agreed separately

13. DEPOSIT HANDLING (NON-MANAGED)

Where the landlord manages the deposit, they must provide proof of compliance with a government-approved tenancy deposit scheme.

Where the agent administers the deposit:

  • It will be registered in a government-approved scheme
  • The landlord must authorise any deductions at tenancy end
  • Disputes will be referred to the scheme’s adjudication service

14. CLIENT MONEY PROTECTION & REDRESS

We hold Client Money Protection through Propertymark.

We are also members of a government-approved redress scheme.

Details are available upon request or via our website.