Landlords

Landlords FAQs

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How much are your finder's fees?

£125 subject to a minimum of 1 weeks rent / £250 for the full property... and you save more as we don't charge VAT

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What does your tenant finding service consist of?

• Market appraisal
• Marketing and advertising on all major portals
• Arrange and accompany viewings
• Negotiate rent and agree terms of letting
• Obtain Guarantor forms & tenant particular forms
• Collect and forward on the security deposit
• Prepare any relevant pre-tenancy Housing Act 1996 Notices applicable only prior to the commencement of the tenancy
• Draft AST
• No Let – No Fee

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Why are your fees so competitive?

We have been in property lettings since 1987 and we are experienced, professional and efficient at what we do. We have centralised administration and typical of the modern world today the majority of our enquiries are from the web. According to Rightmove, 92% of tenants start their search on the net. Therefore, we don't need expensive fancy offices with window displays in every town, so our operating costs are lower... and we pass these savings on to you.

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Do you offer a No Let - No Fee?

Yes, you only pay when we fill your property.

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Why do you not charge VAT?

Unlike most agents, the deposit is paid directly to the landlord. We don't collect it, bank it then forward it on, meaning you save 20% on top of our already low fees

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Will you erect a To Let board

We think this is very important and it's free in our service. Even though around 90% of enquiries are web based it's very important not to forget about where the other 10% of business comes from.

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How can I trust my property in your hands?

• All our staff are CRB checked.
• All our staff are fully trained.
• We are a profitable company with a banking relationship with Coutts. We can supply industry references upon request.
• All our lettings are using an Assured Shorthold Tenancy from the National Landlords Association of which we are members. All of our documentation has been checked and approved by Council.

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Do I need to provide contents insurance?

You should consider providing contents insurance should your tenant not have theirs in place. In addition you should ensure your policy includes landlord's public liability insurance.

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How long are contracts for?

Contracts are usually six to twelve months but the choice is yours.

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How and when are rents paid?

As you prefer, typically it's monthly in advance by standing order.

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Is the tenants deposit their first month's rent?

No, they must still pay your rent in advance as per the contract in addition to their deposit which you must register in a government approved scheme within 10 days of receipt.

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Is there any compliance that must be obtained prior to you letting my property?

Absolutely, you must have the following up to date certificates.

• Portable Appliance Testing certificate
• Gas safe certificate
• Electrical certificate
• Energy performance certificates
• Furniture, bedding and soft furnishings have the correct labels attached

And where applicable your property must be licensed as an HMO - House in Multiple Occupation.

If you are unsure of your legal obligations as a landlord the local council will survey the property and advise you of what is required. We feel it is best to seek the council's opinion directly as they ultimately interpret the law and decide on a local basis what they will and will not accept.

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Why don't you offer property management?

If your property is in good condition then there should be little need for anything other than very occasional contact with your tenants. If, for example, you have an annual rental income of £20,000, you will not need to give away up to £2,000 in fees for the sake of a few phone calls.

There are plenty of reputable companies that operate nationwide and for a small fixed monthly fee of around £30 will cover pretty much every repair and are there at the other end of the phone 24/7. Your tenants are able to call them directly instead of you... and they don't want 10% of your rent.

	Boiler Breakdown	Plumbing & Radiators	Burst & frozen pipes	Blocked Drains	Roofs & Leaks	Electrics	Locks	Keys	Windows	Vermin
British Gas	✓	✓	✓	✓		✓
Npower	✓	✓	✓	✓		✓
AA					✓		✓	✓	✓
Total Landlord Insurance	✓	✓		✓		✓	✓	✓	✓	✓

And if you do prefer to outsource your inventories, check-ins and check-outs, we can provide details of national organisations that specialise in this field.

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What utilities is the tenant responsible for?

Typically, the tenants are responsible for all utilities and the bills should be put in their names.

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What contracts and paperwork do you use?

We use standard off-the-shelf Assured Shorthold Tenancies from the National Landlords Association and our own standard paperwork that has been checked and approved by the council. We are happy to provide you with copies to read over and we kindly ask that if you would like anything added you simply tell us at the outset before the documentation is given to the tenants to sign.

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Can you ensure I will achieve the maximum market rent?

We will always do our best and ask that you don't focus solely on a weekly or monthly basis but that you look at the bigger picture and think on an annual basis to maximise your income.

It is often better to get your properties filled 100% of the time at a slightly more competitive rent than 90% of the time at a higher rent. You will make more profit and the property will not be unoccupied and vulnerable.

Consider the eight and a quarter rule:

Each month equates to 8.25% of your annual rent. If for example you want £1000 pcm for your property but don't fill it in month one you've lost 8.25% rent. If you don't fill it until after two months that's 16.5% lost.

To recoup this loss and break even over the year, you would need to charge a tenant 16½% more for the remaining ten months, which would be £1165pcm making it even more difficult to rent.

So remember by allowing us to market your property at a competitive rent you will maximise your annual income and minimize voids.

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Can I multi-Agent?

Yes you can, but may we suggest that to ensure you obtain the most competitive fees on the market you allow us a window of one month to try and fill it first.

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What is the cost of 0333 number that you use?

03 numbers are non geographic telephone numbers that were announced by the UK communications regulator. Unlike 08 numbers, 03 numbers cost the same to call as geographic landline numbers (starting 01 and 02), even from a mobile phone. They are also included as part of inclusive call minutes and discount schemes from all major mobile phone and landline operators.

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When can I call you?

We value your custom and appreciate it is no longer a 9-5 world. We welcome calls outside of office hours.

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Where We Advertise

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We advertise on all the most popular property portals and dozens of property websites to ensure our properties are seen by millions of potential buyers each month. More than 90% of home searchers use the internet when searching for a new homes and the vast majority will use the following sites which we advertise on:

Rightmove.co.uk is the most visited property site in the UK. In January 2011 it became the 8th busiest site in the UK according to Hitwise which was one ahead of BBC news (9th) and considerably higher than competitors Zoopla (98th) and findaproperty.com (125th). Of the top 4 UK property portals 82% of viewed pages are from Rightmove which indicated how it dominates the home search market. Its popularity is continuing to grow and in 2010 it generated 18.6 million enquiries from home buyers.
Unique Monthly Visitors (Dec 2010): 2,350,000*

Zoopla.co.uk is the new kid on the block having only started in 2008 but it has grown rapidly by buying a number of established property sites such as propertyfinder.com in 2009. Its visitor numbers continue to grow helped by a big TV campaign and it continues to invest in new features for home buyers and sellers such as home value estimates and a property archive of homes previously advertised for sale or rent since 2000. 51% of Zoopla’s visitors do not use Rightmove.
Unique Monthly Visitors (Dec 2010): 1,034,000*

FindaProperty.co.uk is owned by the The Digital Property Group (TDPG) who also own primelocation.com, new homes website findanewhome.com, and property search engine globrix.com. Primelocation was established back in 1997 and has a relatively loyal following. 80% of home buyers who visit FindaProperty and Primelocation do not visit Rightmove – this shows the importance of having your estate agent list your property on each one of the top 4 property portals.
Unique Monthly Visitors (Dec 2010): 852,000*

Primelocation.com was started in 2001 by a group of over 200 independent estate agents across the UK. They target the middle and high end market and their visitors tend to be more affluent home buyers looking for prime property. 42% of their visitors have a deposit of 50% or more and many are in the later stages of the home buying process (i.e. few are first time buyers).
Unique Monthly Visitors (Dec 2010): 656,000*

These 4 sites generate the vast majority of our buyer enquiries and as many home searchers stay loyal to just one of these 4 property portals sites it is important that your estate agent advertises your home on all of them. Our properties are also shown on the websites below which also have a substantial number of daily searches from home buyers.

Other Websites We Advertise On

We also advertise on the following websites which receive fewer property searches each month than the big 4 above but a significant amount of renters do use them to search for property. It is therefore very worthwhile having your property advertised on them.

Globrix.com, Nestoria.co.uk, HomesandProperty.co.uk, Home.co.uk and FindaNewHome.com are dedicated property websites that receive the most amount of potential home renters visit then. UpMyStreet.com provides information on local areas including such things as homes for sale, house prices, education levels and crime rates. They receive a lot of visits from home renters researching a local area they are thinking of moving to. The remaining companies displayed are well known brands that use the technology of the main property portals to display home listings in their property sections.