lettings - YOUhome

LETTINGS
t i m e
i s
m o n e y ,
Y O U R
m o n e y
A Guide to Residential Letting
What you need to know and
how we can help YOU.
LETTINGS
t i m e
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m o n e y ,
Y O U R
m o n e y
Contents
Our Business
3
Our people
4
Our systems and technology
4
Our locations
5
Finding your tenant
6
A promise
7
YOU home
®
9
letting services
How it works
10
Landlord information
12
Safety regulations
13
Frequently asked questions
14
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LETTINGS
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Our business
At YO U home , we understand the BUSINESS of letting.
®
If you are a first time landlord, portfolio investor or
have developments to let, you’ll understand what’s
important to you and your business and it stands to
reason that you want support from a like-minded
company.
YOU home
We’re completely transparent about our business,
the way we work and what we charge you. Our fees
are extremely competitive, and are listed here for
you. At YO U home , what you see is what you get.
®
As a landlord, you’ll understand the importance
of minimising the periods your property
remains empty. Every day is a cost to you, which
is why we’ve created a letting and management
service geared entirely around maximising your
revenue.
Letting Division is based on THREE
fundamental principles -
1
2
3
®
Quick tenant find - Ultimately, you
want your properties let fast - after all,
time is money. We can market your
property within minutes of instruction,
and reference tenants within 24 hours.
Eg. For a property listed at £850 per month,
you would lose £395 every 2 weeks it
remains unlet. It is therefore vital not only
to bring your property to the market quickly
but, even more so, to assess its rental value
realistically from the outset. £815 per month
today is the same as £850 in two weeks‘ time.
Exemplary customer service - You
want a knowledgeable agent who thinks
just like you, for you - understanding every
aspect of the marketplace.
Highly efficient administration - You
want every aspect of your relationship with
your agent to be professional and efficient
- time spent chasing your agent is time and
money wasted.
The quicker you find a tenant, the more money
you’ll make.
We’ve invested heavily in key areas to ensure we
achieve fast lets for our clients -
“
•superior advertising, locally and on the internet,
•the most knowledgeable and experienced staff in
the industry,
•state of the art IT systems and website,
•highly efficient office procedures,
•a superb, modern Bournemouth town centre
branch,
•a London office.
We’re completely transparent
about our business, the way we
work and what we charge you.
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”
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LETTINGS
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Our people
To provide exemplary customer service, you need exemplary staff.
YOU home
recruits only the best people the
industry has to offer - not typical ‘estate agents’,
but people with a focus on exceptional standards,
transparency, and a customer-driven ethos to
the business of letting. In addition, our staff are
highly knowledgeable professionals and excellent
communicators who have many years experience.
Combine this with our innovative YO U Q technology,
and it’s plain to see that we know more about your
local market than any other agent.
®
Above all though, our people are friendly, and helpful.
You can expect always, to be dealt with personally
and courteously by your property manager.
Nothing is too much trouble.
Our systems and technology
office systems have been honed to perfection - a result of many
years’ industry experience and cutting-edge IT.
YOU home
®
YOU Q is our own revolutionary technology - a
We are the only letting agent to provide such
detailed market analysis for our customers.
system which gives us an unparalleled insight
and knowledge of your local property
market. If we KNOW more, we are much better
placed to advise you, our client, on rental value,
average yields, marketing strategies, competition,
and portfolio diversity.
Our in-house office procedures are tailored to
ensure the rental and management of your asset is
administered efficiently. We have mechanisms in
place to ensure that each step is dealt with promptly,
for example, initial advertising, collection and
payment of rent and tenancy renewals/changeovers.
“
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Nothing is to much trouble.
”
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LETTINGS
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Our locations
A state-of-the-art branch in central Bournemouth and a strategically positioned
London Office ensure we will leave no stone unturned when looking for
your tenant. Local families, young professionals, foreign students and London
executives; we can find them - quickly.
London Office
63 Jermyn Street,
London SW1Y 6LX
LONDON
Bournemouth & Poole Office
101 Old Christchurch Road,
Bournemouth BH1 1EP
BOURNEMOUTH
& POOLE
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LETTINGS
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Finding your tenant
Attracting tenants - and attracting them quickly - is vital.
Our superior advertising and marketing efforts
will ensure this. We cast our net farther and wider
than other agents to find you that perfect tenant - fast.
Your property will be visible to prospective tenants
on these platforms, within a few hours of instruction,
ensuring a rapid response. Adverts appear 24/7
until let - we get enquiries for you around the clock
and you won’t pay us a penny unless we successfully
let your property.
•Full page advertisements in local property
newspapers
•Instant text messaging and emailing of your
property details to tenants, within seconds of
instruction
•A highly distinctive ‘To Let’ sign board
•Daily distribution of property lists to local tenants
•Feature your property on our plasma screen
window displays
•Telemarketing to our existing tenant database
•Advertisement on our highly acclaimed website
youhome.co.uk
•Escorted viewings to your property
•Links with major national companies bringing staff
to the area
•Exposure of your property to affluent tenants via
our London office
•Extensive coverage of your property on the
following major property portal websites Rightmove
Propertyfinder
Prime location
Globrix
Southernpropertyfinder
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Finding your tenant
Our work doesn’t stop at finding a prospective tenant.
In addition to our extensive marketing, the service
includes •Stringent tenant referencing procedure
•Additional referencing of guarantors if required
•Production of Assured Shorthold Tenancy
Agreement
•Issue tenant with relevant legal notices
•Set up standing order for rent
•Sign up tenant
•Collect deposit bond and first month’s rent
•Check tenant in to property
•Prepare a detailed inventory / condition schedule
(charged extra)
•Prepare statement and remit funds to you
•Report to you at all key stages
•Mobile and office contact number for your
personal letting agent
A promise
Ultimately, we shall always endeavour to uphold our three core principles Quick tenant find, exemplary customer service, and highly
efficient administration.
‘Whether you ask us to find a tenant for a single property, or entrust us with the management of an
entire portfolio, I personally reassure you that your investment will be handled with the utmost care,
exemplary dedication, and in a professional, efficient manner. You will always find us friendly and
approachable, respectful and courteous in all dealings’.
Andrew Webb, Head of Letting
YOU home
®
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LETTINGS
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@
We find tenants fast.
Our superior advertising and marketing will ensure
this. We cast our net farther and wider than other
agents to find you that perfect tenant - FAST.
LETTINGS
B O U R N E M O U T H
•
P O O L E
•
L O N D O N
Bournemouth & Poole Office: 101 Old Christchurch Road, Bournemouth BH1 1EP
London Office: 63 Jermyn Street, London SW1Y 6LX
01202 544500
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LETTINGS
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Y O U R
®
m o n e y
letting services
Tenant find service
- equivalent to half of
1 month’s rent (min. £495)
Rent collection service
- 7% of monthly rent
For landlords who want to handle all tenant
queries and maintenance issues themselves.
Speed is key. By implementing all the
advertising strategies and administration
procedures listed previously, we give
your property the best possible chance of
finding a tenant quickly.
We will implement our efficient office systems to
ensure prompt payment of rent, chasing of unpaid
rent, and fast transfer to you. The service includes •Prompt rent collection
•Prompt chasing of unpaid rent
•Transfer of rent directly to your bank account
•Monthly statement
•Legal/eviction notices served
•Report to you at all key stages
•Mobile and office contact number for your
personal letting agent
Included FREE OF CHARGE for ‘Tenant
Find’ Landlords is a comprehensive suite of
Property Management Information to assist
you in taking care of your own property.
Including •Professional Inventory Services for
inspections and check outs
•Landlord insurance services
•Local maintenance contractors
•Legal documents
•Administration forms and procedures
•Rent arrears procedures and example
letters
•Tenancy deposit scheme options
Full Property Management service - 10% of monthly rent
For landlords who want to have every aspect
of their asset managed by professionals.
In addition to everything in our rent collection
service, the following is included •Regular inspection visits to your property
•Organisation and management of all maintenance
issues
•Settling of tradesmen accounts on your behalf
•Tenant deposit bond held by us under a deposit
protection scheme
•Transfer of occupancy details to all utility
companies
•Deduction of non resident landlord tax if required
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LETTINGS
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How it works
Landlord Enquiry
Here’s how we let your property
from marketing through to renewal
of tenancy agreement.
Market Appraisal
Marketing
•On our website youhome.co.uk
•Listings on major portals
•Text messaging and emailing
to potential tenants
•TO LET board
•Extensive advertising in local
newspapers and magazines
•Feature on our prominent plasma
displays at the Bournemouth town
centre office.
•Telemarketing to existing tenants
Enquiries and viewings
Offers / Agree Terms
No renewal
Large database of potential tenants
References collected and
agreements signed
Property Preparation
Arrange cleaning
Arrange safety certificates
Arrange inventory/schedule of condition
Tenant moves in
Rent collected
Regular property inspections
Client liaison
Repairs reported
TO LET
End of tenancy agreement
Tenancy renewal and
agreements signed
Highly distinctive TO LET boards
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LETTINGS
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Ideal tenant
or ideally
avoided?
Let us be the judge of that.
Prior to granting a tenancy for your
property, we will carry out stringent
references on your prospective
tenant, with 25 separate checks in
total. These include a credit check,
employers reference, and previous
landlord reference.
If they don’t pass the test, we
won’t recommend them to YOU.
LETTINGS
B O U R N E M O U T H
•
P O O L E
•
L O N D O N
Bournemouth & Poole Office: 101 Old Christchurch Road, Bournemouth BH1 1EP
London Office: 63 Jermyn Street, London SW1Y 6LX
01202 544500
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Landlord information
Rent guarantee insurance
Even the best tenants can fall on hard times, owing
to redundancy, illness, divorce etc. The payment
of rent can be guaranteed with a simple insurance
policy, which will pay out if your tenant can’t. This
can be used in conjunction with a legal expenses
insurance which will pay your expenses should you
have to take legal action to remove tenants.
Consents
When letting your property for the first time, you
should check with your mortgage lender, insurance
company and the terms of your lease (if there is one)
that you are permitted to let your property.
Tax
Income received from renting any property is
subject to tax. Expenses incurred can be set against
this liability. We strongly recommend that you take
advice from your accountant.
Other Landlord Insurance
As landlord, you are still responsible for the building
and accordingly for insurance of the buildings. We
can supply details of both buildings and contents
insurance specifically designed for Landlords.
Non Resident Landlords
If you live overseas, we have a duty to deduct tax
from your rental income and submit a return to
HMRC. You can obtain an exemption certificate
which will entitle you to receive your rent gross. We
must hold a copy of this certificate.
All insurance recommended by YO U home is
provided by leading Landlord insurance companies.
®
Inventories
An inventory, or schedule of condition, is a report
on the contents and state of your property. We will
prepare this report prior to letting, to be agreed and
signed by your tenant. At the end of the tenancy,
we will re-inspect the property with the original
inventory to guide us as to whether there have been
any dilapidations. Any discrepancies, save fair wear
and tear, will be cost-estimated and then deducted
from the tenants’ deposit.
Utilities
Generally, utilities such as gas, water and electric
and Council Tax are the responsibility of your tenant.
We will normally arrange for the transfer if we are
managing your property (except BT).
Keys
We would normally require three sets of keys for
each property. Should any further keys need cutting,
this will be charged to the landlord.
Furnishings
If any furniture is left in a property, then you as
landlord have a duty to ensure it is maintained and
(for electrical/ mechanical equipment) repaired
should it become faulty, provided of course this is
not the result of negligence or malicious damage
by the tenant. Any soft furnishings (chairs, beds,
mattresses, sofas etc.) which are left in the property
must comply with The Fire and Furnishings
Regulations and a label clearly stating this to be the
case should be attached. If not, then the furnishings
must be removed from the property. They cannot be
stored at the rented address.
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Preparation of property
As a general rule, your property should be
clean, tidy, and modern. As a minimum, even for
unfurnished properties, it is advisable to include
curtains/blinds and kitchen white goods. You should
leave any appliance operation manuals and any
details that will ensure the safety of the tenants.
Energy Performance Certificates
It is now a legal requirement that any property that is
marketed ‘to let’ must have an Energy Performance
Certificate. We will be happy to arrange this for you.
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Safety regulations
Gas
It is a legal requirement that every gas appliance
and gas central heating system must be inspected
annually. They must meet strict conditions and a
safety certificate must be issued. (This certificate or
copy of it must be kept with our files). You can ask
British Gas (who charge per item inspected) or a
private gas engineer (some of whom have a flat rate,
regardless of the number of appliances). We can
arrange for the safety inspection to be carried out for
you by our local gas engineer. Once the inspection
has been completed, we will keep a record of the
date for the succeeding renewal. A safety certificate
must be issued every twelve months. Central
heating systems do break down. Unfortunately, it
seems always to happen at the most inconvenient of
times, such as a Bank Holiday or while you are away.
The cost of repair can be substantial and there is
often little option but to have the work done. For this
reason, we recommend a service contract. British
Gas offers such a policy, which serves the majority of
systems very well and they also allow you to spread
the cost and to pay by monthly instalments.
Smoke Alarms
It is our recommendation that all properties should
be fitted with at least two smoke alarms. While this
is not a legal requirement, failure to take adequate
precautions (such as fitting smoke alarms) could lead
to a landlord being prosecuted if something were
to happen. Smoke alarms are inexpensive and are
easily fitted. They can and do save lives.
Once installed, these devices must be checked on
a regular basis. If your property has gas appliances,
then you may wish to consider the installation of
carbon monoxide alarms (these detect the build up
of dangerous gases). These units cost a little more
than smoke alarms but again do serve a very useful
purpose.
Remember: for an inspection
to be complete, the piping must
also have been inspected and the
person conducting the inspection
MUST be CORGI-registered.
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Frequently asked questions
do I know how
Q How
Q
much rent I’ll receive?
representative will visit your
A Apropertyhome
A
and, armed with extensive knowledge
How do prospective tenants
visit my property?
We accompany all tenants to your property
and offer a chauffeured viewing service to
ensure no prospective tenant will miss out on
seeing it. We always hold the keys and never
release them for viewings.
Q
A
Who will look after my
property rental?
If your property is managed by us, you will
be looked after by a property manager who
will know your property and your tenant
inside out. You will be given office and mobile
contacts, along with personal e-mail for your
property manager.
Q
A
How do I know if my
tenants will be suitable?
Prior to granting a tenancy for your property,
we will undertake stringent reference
checking on your prospective tenant,
including a credit check, employers’ reference
and, where appropriate, previous landlord
references. If they don’t pass the test, we
won’t recommend them to you.
Q
A
What kind of contracts
do you use?
All tenants sign an Assured Shorthold Tenancy
Agreement which is for a minimum of 6 or 12
months. Longer tenancies can be created with
your agreement.
Q
A
Can I guarantee
my rent?
Yes. There is insurance available through us
which will guarantee payment of your rent
even if the tenant doesn’t pay, for whatever
reason. You can also insure against the cost
of legal expenses, should you need to evict a
tenant through the Courts.
YOU
®
of the local market will provide you with a
considered estimate of how much rent can be
achieved. We use such indicators as current
levels of tenant demand, the supply of similar
property or competitive product, proximity to
local amenities and condition of the property.
can I make sure
Q How
my property rents quickly?
best properties always let first! If it’s clean
A The
and tidy, inside and out, in good decorative
order and has modern fixtures and fittings,
you’ll stand a very good chance. If you can
create a WOW factor, such as a designer
kitchen or bathroom, then so much the better.
Q
A
What if my property
doesn’t attract any interest?
There will always be a reason. It may be the
price, the area, condition or even neighbouring
properties. We will closely monitor the responses
we are given by prospective tenants and will
advise you accordingly on a regular basis.
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Frequently asked questions
Q
A
What deposits do you
take from the tenants?
We collect a security deposit equivalent to 1
months rent plus £100. This is in addition to
the first month’s rent.
Q
A
Should I furnish
my property?
Furnishing your property will not necessarily
increase your rent but may be attractive to
certain tenants. If you can be flexible and
are able to offer your property on either
a furnished or an unfurnished basis, then
ultimately you will attract a wider range of
tenants. Please note that it is usual practice
to include kitchen white goods, even in
unfurnished properties. As a general rule,
furnished properties will include adequate
comfortable seating in living areas, table and
chairs for dining areas, beds and wardrobes,
(the capacity of which will depend on the
bedroom size), dinner and cutlery sets,
sufficient kitchen utensils to prepare a meal,
bowls, saucepans, knife set, kettle, condiment
set, waste bin, ironing board and iron, vacuum
cleaner, mop and bucket and basic garden tools.
Q
A
Q
A
Q
A
What happens if my
tenant has a problem?
If we manage your property, then we will take
care of everything for you. Your tenants will
know to call us, not you, if they have an issue
with anything. It may be something that we can
swiftly resolve, such as an accounting query. If
not, we will report to you for further instruction.
Q
A
What if there is
an emergency?
Tenants have access to a 24hr emergency
repair service.
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How do you deal with
maintenance issues?
There are three ways in which we can deal
with maintenance of your property. Firstly,
we can report all maintenance issues to you
for further instruction. Alternatively, we
could agree with you to proceed with any
maintenance issue without contacting you
on every occasion, provided the estimate is
below an agreed value. Any invoice will then
be paid out from rental income held by us,
on your behalf. Thirdly, you could provide
us with a ‘float’, which we will use as and
when an issue arises. The float would then be
topped up, once an invoice has been paid,
from the next rent received.
What happens at the
end of the tenancy?
Our office systems automatically notify your
tenants that their agreement is coming to an
end. This gives us plenty of time to either relet the property and minimise any void period or
to re-sign the existing tenant on a new contract.
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Frequently asked questions
Q
A
Q
A
Q
A
Q
A
Q
A
is
Q What
an HMO?
Housing Act 2004 has widened the
A The
definition of ‘House in Multiple Occupation’
What if I want my
property back?
We serve your tenants legal notices at key
stages so as to ensure that you can claim legal
possession of your property at the end of their
tenancy.
(HMO). In general, all rented accommodation
occupied by two or more households will
qualify as an HMO. A ‘shared house’ will no
longer be deemed a single household. There
are a few exemptions, such as student halls
of residents managed by the university or
buildings owned by public bodies. Details
of these exemptions can be obtained from
the Council. People living in the same house
are only classed as a ‘household’, if they are
co-habiting couples, blood-related families
or other qualifying relationships, such as
foster families, carers and domestic staff. The
Act also introduced a Mandatory Licensing
Scheme for high risk HMO’s. Properties
covered by the Mandatory Licensing Scheme
are rented properties which have 3 or more
storeys AND there are 5 or more people living
in the property, as 2 or more households.
There MUST also be shared amenities, such
as a bathroom, toilet or cooking facilities.
All HMO’s, even those which do not fall
under licensing, will need to comply with
The Management of Houses in Multiple
Occupation (England) Regulations 2006. These
set out minimum management standards for all
HMO’s. HMO’s are also expected to provide
a suitable number and type of amenities
and facilities, adequate for the number of
occupants. One important requirement is that
there should be satisfactory fire precautions
and means of escape.
What are my responsibilities
for the tenants safety?
Every property must have a valid gas safety
certificate. All furnishings must comply with
fire safety regulations. It is the landlords
responsibility to warrant that all electrical items
are in safe working order. Please see ‘Landlord
Information’ for more details.
Am I responsible
for insurance?
You are responsible for the buildings insurance
of your property and it is prudent to insure
the contents, particularly if you are letting the
property on a furnished basis.
When do I get
my rent?
Your rent, less any charges, will be credited
directly to your bank account, within 10 days
of receipt by us. You will receive a statement of
account each month detailing all transactions.
What if the tenants
don’t pay?
We have robust chasing procedures for rent
arrears, should rent payments be delayed for
any reason. In any event, we will communicate
any late rental to you in order for you to
budget accordingly. Should a tenant be
consistently late or fall further behind, then
we will take instructions from you regarding
commencement of eviction proceedings.
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Frequently asked questions
Q
A
am I kept
Q How
informed?
communication with the people looking
A Good
after your asset is essential. You will be kept
What is classed as
‘fair wear and tear’?
‘Wear and tear’ might be when a room needs
repainting or a four year old sofa no longer
looks as new as it once was. Remember that
this is ‘wear and tear’ - not ‘worn out’. It’s
important to remember that if a landlord
applies a deduction to the bond for ‘wear’, a
Judge knows that the Taxman has given you
a 10% allowance. Effectively, Landlord has
already received payment for ‘wear’ by not
paying more tax!
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informed of all key stages to the letting and
management of your property either by phone,
text, email, or letter. In addition, at YO U home ,
you will be supplied with office, mobile,
and e-mail contact details for your property
manager.
®
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Landlord’s perfect
business partner
YO U home
Lettings understand the business of letting property and your
requirements as a landlord.
Our superior marketing, cutting edge IT solutions, experienced staff and fast
efficient administration coupled with a flexible range of letting options, means we
can work to achieve the best possible property management for YOU.
®
LETTINGS
B O U R N E M O U T H
•
P O O L E
•
L O N D O N
Bournemouth & Poole Office: 101 Old Christchurch Road, Bournemouth BH1 1EP
London Office: 63 Jermyn Street, London SW1Y 6LX
01202 544500
youhome.co.uk
YOU
LETTINGS
B O U R N E M O U T H
•
P O O L E
•
L O N D O N
Bournemouth & Poole Office: 101 Old Christchurch Road, Bournemouth BH1 1EP
London Office: 63 Jermyn Street, London SW1Y 6LX
01202 544500
youhome.co.uk