A professional Service for Landlords
The first step is to arrange a free valuation. This will involve a representative of Montgomery Lettings and Management visiting your property to assess its rental value and its letting potential. At this point we will also advise you of any work that needs to be done prior to Letting, the approximate time scales involved, and the type of tenant the property is likely to attract. We will also make you aware of the four Statutory Requirements that a Landlord is bound to follow by law. This visit will enable us to show you all the services that we can offer you, and answer all and any questions you may have.
The marketing of your property is free of charge and will include prominent local advertising, insertion onto our website, erecting a 'To Let' board at the property (where permissible), accompanying all viewings and keeping you informed of all feedback, and our progress. You will be notified once we have taken a reservation fee from a prospective tenant.
We believe that the success of a tenancy relies heavily on the quality of the referencing. In view of this we have searched to provide what we believe is the best possible system of referencing available. This is undertaken by a specialist referencing company on our behalf, and covers employment, previous Landlords, past and current financial history, and electoral role registration. We are usually informed of these results within 48 hours. Should an application be unsuccessful, this limits the time that the property is off the market to the absolute minimum.
Our standard form of Agreement is an Assured Shorthold Tenancy. In most cases this will be for an initial period of six months, and unless otherwise instructed, will continue on a month to month basis until terminated by either party. Please be aware that we would need a minimum of two months notice to terminate an Assured Shorthold Tenancy Agreement, and one months notice is required by the Tenant.
- Property Management Visits
These are carried out periodically, usually every half year. A report is made on the visual condition of the property and a copy is sent to the Landlord.
With the ever increasing use of computers and the internet, this medium has recently become a more major part of our marketing strategy. Our newly devised website will be actively marketing your property to a worldwide audience.
This is a detailed description of the property, everything in it and it's condition at the commencement of the Tenancy. We will prepare or update an Inventory and agree this with the tenant at the beginning of the Tenancy. We will also take a photographic Inventory using digital imaging.
At the commencement of a Tenancy, liability for services passes to the Tenant, as does the responsibility for notifying the service providers. The Data Protection Act forbids the service providers from dealing with us as Third Parties, however we always send a fax to all service providers notifying them of the new tenants details and the meter readings.
We would normally collect a dilapidation deposit equal to one and a half months rent, unless otherwise negotiated with yourself. This money is then held by us, as Landlords Agent, until the end of the Tenancy.
At the end of the Tenancy, we will inspect the property and prepare a Dilapidation report, a copy of which will be sent to you. On your instruction, we will then organise for the remedial works to be carried out, and where appropriate, the costs to be deducted from the Tenants dilapidation deposit.
Rent will be paid to you as soon as we are in possession of cleared funds. Rent due dates will vary depending on the date that the Tenant moves into the property, and payment will usually reach your bank by BACS transfer within ten days of receipt net of our fees. You will be sent a statement once the transaction has been processed via our fully computerised accounting system.
We will deal with any maintenance that arises and act upon it based upon your instructions. Normal practice is that we will authorise works up to a value of £100 without further instruction from yourselves and deduct payment from your next statement. In cases of emergency, we have a 24hour emergency contact, and under these circumstances we would take whatever measures necessary to contain the situation.
- Furnished or Unfurnished?
It doesn't matter! Your property will be letable on either basis without any adverse legal implications. If your property is furnished, you will be liable to repair or replace any item that breaks down. All soft furnishings will also have to be compliant with Furniture and Furnishings (Fire Safety and Amendment) Regulations 1994.
Under the Electrical Equipment (Safety) Regulations 1994 and the Gas Safety (Installation and Use) Regulations 1994 all electrical appliances and all gas appliances MUST be checked by professional tradesmen and all items marked with the date and time of testing to comply with the government regulations. We are happy to organise for these checks to be carried out by fully qualified engineers on your behalf. Failure to comply with the regulations can result in prosecution. All appliances should have instruction books left at the property.
You should make certain that your property and it's contents are adequately insured and that you have informed your insurance company of your intention to let, as many household polocies do not cover let properties.
Income from UK property is subject to UK Income Tax at the prevailing rate. If you, as the Landlord are resident overseas, the Inland Revenue has the power to hold the Agent liable for tax on the income that the Landlord receives. Therefore you must inform us if at any point you become resident abroad. |
