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MANAGEMENT SERVICES TO SUIT YOU


SERVICE PLAN 1 – FIND A TENANT

 

This level of service includes :-

Taking marketing particulars and photographs of the property

Marketing the property via our website and national property portals as well as contacting existing potential tenants on our extensive data base

Carry out accompanied viewings

Agreeing the let with yourself and completing all the necessary paperwork with the tenant

Carry out our in-house referencing ( which includes a credit check, employment and previous landlord references

Hold and protect the deposit with an approved government scheme (See additional charges)

Creating a bespoke tenancy and inventory for the property (See additional charges)

As part of the inventory process we meet with the tenant at the property on the move in day to collect the first rent payment, go through all paperwork and take meter readings

Inform the utility companies that the tenants are responsible for the property from the tenancy start date and close down the previous accounts

 

The cost for this service is £300 inc. vat (£250.00 plus vat) for properties valued up to £650.00 per calendar month and for properties with a rental amount in excess of this our fee is £420 inc. vat (£350 plus vat)

 

SERVICE PLAN 2 - PART MANAGEMENT

 

This level of service includes:-

All services listed above as part of service plan 1

Monthly rent collection

Submitting a monthly statement of account to the landlord

Transfer of the balance of the monthly rent into the landlord’s account

 

The cost for this service is 9% inc. vat (7.5% plus vat) per month from rental receipts

 

SERVICE PLAN 3 - FULL MANAGEMENT

 

This level of service includes:-

All services listed above as part of service plan 1 and 2

One mid-tenancy inspection of the property every six months.

Liaising with the tenant and the landlord to deal with all aspects of the running of the property including maintenance, repairs and the organisation of the necessary trades people.

The cost for this service is 10.8% inc. vat (9% plus vat) per month from rental receipts.

 

GENERAL INFORMATION

 

INITIAL RESPONSIBILITIES

 

If the property is subject to a mortgage or other charge or leasehold the landlord must notify the lessor or the mortgagee that it is his/her intention to let the property.

The landlord must notify the agent of any details that may affect the tenancy such as any covenants, restrictions or enforcements on the property.

The landlord must continue to pay all hire purchase agreements, mortgages, insurance premiums, ground rents, service charges and other such charges relating to the property. Rent is a quoted figure based on a per calendar month basis and includes maintenance, ground rents and service charges. The tenant is responsible for, electricity, gas, council tax, telephone charges, water and sewage charges ( where applicable).

Furnishings must comply with the match, cigarette and ignitability test of the Furniture and Furnishing (fire Safety) Regulations 1988 (amended 2010). It is the landlord’s responsibility for compliance.

The landlord must insure the building and any contents as required, which should cover malicious damage to the property by the tenant. The insurer must be notified of the intention to let the property and the nature of the let.

It is the landlord’s responsibility to ensure the property has a valid Gas Safety Certificate under the Gas Safety ( installation and use ) regulations 1998 along with a working smoke alarm/carbon monoxide alarm as per The Smoke and Carbon Monoxide Alarm (England) Regulations 2015. This can be organised by the landlord or we are happy to help.

An Electrical Safety Certificate is recommended to cover the landlords civil duty of care under the Electrical Equipment ( Safety) regulations 1994. We are happy to help organise this.

 

TENANCY AGREEMENTS

Our tenancies are set up as an Assured Short Hold Agreement and tailored to ensure the security and smooth running of our landlord’s properties. Although they are comprehensive a landlord can tailor specific items to their needs if required and normally run in 6 or 12 month terms.

 

INVENTORIES

A full inventory of contents, fixtures and fittings will be made before the tenancy begins. These include some photographic detail and a log of all keys and utility readings. As an inventory is such an important document we ensure that its accuracy and scope leaves no question as to the condition of the property.

 

MAINTENANCE AND REPAIRS

When we manage a property and maintenance is required we will always liaise with the landlord

before the commencement of any works. We make sure that a landlord has no surprises about costs or works that have been carried out. Payments for agreed works are automatically deducted from the next monthly statement making the process easy for our landlords. A landlord can use their own trade’s people or we have reliable, tried and tested professionals that can cover every eventuality.

 

TERMINATION OF OUR SERVICES

The length of the tenancy agreement binds the landlord to the service they have instructed Paris Lettings to perform. To terminate our services three month’s written notice is required prior to the expiration of the tenancy. This is so that appropriate notices can be served on the tenant(s) so that the property can be returned to the landlord with vacant possession. At no point can the landlord opt to retain a tenant while at the same time terminating the contract they have with Paris Lettings (with the exception of Service Plan 1).

 

RENT / FEES

All of our tenants pay their rent to us on the 3rd of each month and we pay all of our landlords by bank transfer within 5-7 days of this payment being received. Our management fees are automatically deducted on a monthly basis and a statement is e mailed accordingly so that you have a full record of all transactions. In the instance of a new let it is unlikely that a tenant will always move in on the 3rd of a month so the rents are paid pro rate to our system and a payment to the landlord is paid immediately at this point, less any initial costs such as tenancy agreements.

 

RENT GUARANTEE

We can give advice on rent guarantee products that are available so that in the unlikely event that arrears occur then our landlords are covered. Often we get asked about what happens if a tenant does not pay their rent, thankfully due to the diligence we take with our referencing and how discerning we are we have not found this to be a problem in over 20 years.

 

REFERENCING

Our referencing is carried out in house to ensure not only the validity of the information but also the speed of the service. The process involves credit checking the applicants through  as well as obtaining landlord references and a record of their current and previous employment details. We use industry standard criteria with specific earning to rent ratios, all of which ensures that we have chosen the right tenant for your property.

 

DEPOSIT PROTECTION

Since April 2007 it has been a statutory requirement for landlords to register a deposit with a government approved organisation. We use the Deposit Protection Service and operate both the custodial and insured schemes and make sure our landlords are full protected and abreast of all the up to date changes regarding this legislation.

 

OVERSEAS LANDLORDS

An increasing number of landlords are now non UK resident and the same exacting standards of service are delivered wherever you are in the world. Also importantly we make sure you are aware of your HMRC obligations and make the whole process easy to understand. Part of this includes a requirement is for us to submit an annual return on your behalf.

 

 

INVENTORY / CHECK IN / CHECK OUT COSTS

 

PROPERTY SIZE

UNFURNISHED

FURNISHED

1 BEDROOM

£78 inc. vat (£65 plus vat)

£102 inc. vat (£85 plus vat)

2 BEDROOM

£102 inc. vat (£85 plus vat)

£144 inc. vat (£120 plus vat)

3 BEDROOM

£120 inc. vat (£100 plus vat)

£192 inc. vat (£160 plus vat)

4 BEDROOM

£138 inc. vat (£115 plus vat)

£228 inc. vat (£190 plus vat)

5 BEDROOM

£156 inc. vat (£130 plus vat)

£264 inc. vat (£220 plus vat)

6 BEDROOM

£174 inc. vat (£145 plus vat)

£300 inc. vat (£250 plus vat)

 

Please note : The rates and prices quoted in these details are correct at the time of publication and form part of a promotional offer for 1st January 2017 to 1st August 2017. Contractual terms are confirmed in writing upon a formal instruction being given and tailored to each client individually.