Option 1 – Full Management

This service is offered at a charge of 10% + VAT of any rent received (subject to a minimum monthly fee of £60). An additional administration charge of £300 is payable at the start of each new tenancy.  VAT is applicable.

Option 2 – Find A Tenant Only

This service is offered at a charge equivalent to one month’s rent. Due to the complexities of deposits, we recommend the full management service.

Notices

If it becomes necessary to serve a possession notice, we reserve the right to charge a nominal fee of £50 + VAT.

Deposit

There is an annual charge of £15 (+ VAT) for holding the deposit and relevant compliance issues.

IMPORTANT

Due to the complexities of the tenancy deposit protection and the legal safety requirements, we will not draft a tenancy agreement to commence until five days after receipt of all the required paperwork and keys.

This includes:-

1. Landlord’s Gas Safety Record – and confirmation that all repairs have been undertaken.
2. Periodic Electrical Inspection Report (including any PAT testing) – and confirmation that all repairs have been undertaken.
3. Energy Performance Certificate
4. Legionella Risk Assessment
5. Confirmation of Management Instructions
6. Relevant Instruction Manuals

The five days then allow us to prepare for the tenancy properly and avoid future problems which should benefit you as the landlord to have a trouble free tenancy.

Energy Performance Certificate  (EPC)

From 1^st April 2020, landlords must ensure the Energy Performance Certificates for their properties meet a new standard. This is for new and existing tenancies. Currently the minimum EPC rating of an E is required to be able to Let your property. You can check your EPC here: https://www.gov.uk/find-energy-certificate

Furniture and Furnishings (Fire Safety) Regulations 1988

Following amendments made to this act in March 1993, any furniture included in accommodation must meet all fire resistance requirements.  Due to the liability and regulations involved, we DO NOT manage furnished properties.

Electrical Safety

As of June 2020, new regulations require landlords to have the electrical installations in their properties inspected and tested by a qualified ad competent person at an interval of at least five years.

Gas Safety Certificate

Under the Housing Deregulation Act 2015, all landlords of assured shorthold tenancies on properties where there is gas, must provide their tenants with a valid gas safety record before a tenancy begins. The safety certificate must be carried out by a gas safe engineer

Smoke and Carbon Monoxide Alarm

This regulation came into effect in October 2022, and all landlords must ensure that at least one smoke alarm is provided on each floor, ensure an carbon monoxide alarm is equipped in any room used as a living room which contains a fixed combustion appliance (excluding gas cookers) and ensure that all alarms are repaired or replaced once informed and found that they are faulty.

INSTRUCTION BOOKS MUST BE SUPPLIED

The penalty for non-compliance of the above regulations is a maximum fine of £5,000 and/or 6 months imprisonment!

We can provide you with a choice of two different options:-

Option 1 – Full Management
This relieves the landlord from dealing with the tenant as Antony Richards Property Services will be the tenant’s only point of contact.  If there are any problems with the property or rental payment, a representative from this office will deal with the matter and report accordingly.

Option 2 – Finders Only
We will provide the exact same service as the full management package up to the tenant signing contracts and taking possession of the property.  At this point, the tenant will be informed of your details and instructed to deal directly with yourself.  A copy of the signed tenancy agreement and inventory will be forwarded to you.  The deposit will continue to be held in our clients’ account under the protection of The Dispute Service.
Whether you are intending to take advantage of our ‘full management’ service or just looking to utilise our ‘finders only’ service, this guide will emphasize our commitment to providing a professional letting service and to making your role as a landlord easier.

Bespoke

We are conscious that some landlords may have their own preferences for the management of their property.  We are happy to discuss any alternatives.

1.            Have you informed your lender?
2.           Have you checked your lease?
3.           Have you arranged sufficient insurance cover?
4.           Have you made arrangements for your mail to be forwarded to you?
5.           If you are going overseas, have you completed a ‘NRL1’ form obtainable from the Inland Revenue?
6.           Have you notified the council tax, gas, electric, water and telephone companies of your departure?
7.           Have you left the house clean and tidy including a thorough clean of kitchen units and ovens?
8.           Have you left the garden in an easily manageable state?
9.           Have you left three sets of keys?
10.        Have you left all necessary instructions and manuals/instruction books for the appliances remaining?
11.         Have you left adequate details with Antony Richards Property Services for you to be contacted?
12.         Have you forwarded the relevant gas and electrical certificates, and also chimney sweeping certificate as applicable?
13.         Have you completed the management instructions form with your property’s details?

Valuation

A free valuation can be arranged whereby one of our staff will call to evaluate your property and provide a rental valuation based upon its location, condition, heating and current market demands.  We will be able to offer advice on current legislature and be able to answer any queries you may have with the rental procedure.

At this point, we can discuss potential tenants and whether you wish to accept pets, children, smokers, etc.

Advertising and Marketing

Recent experience has shown that our own website antonyrichards.co.uk is our main source of potential tenants.  It is not unusual to receive enquiries within an hour of properties being uploaded.  In addition, we advertise on the national property websites OnTheMarket and Zoopla. All properties are advertised in our prominent town centre office windows, and we also keep a selective list of suitable potential tenants. We also advertise properties on our social media channels: Facebook and Instagram.

Tenant Selection

We employ the services of an external referencing company who will obtain suitable references as well as undertaking credit checks.  Once approved, by the referencing company, rent protection is available.

Rent Protection

Once approved by the referencing company, rent protection is available to be purchased by the landlord.  This allows the landlord to claim unpaid rent should the tenant become one month in arrears.  Additionally the landlords’ legal expenses will be covered if seeking possession of the property.  Twelve months rent protection is available at a variable cost depending on the monthly rent but will not exceed £150.

Tenancy Agreements

Once a tenant has been selected, an appropriate tenancy agreement will be drawn up. This will incorporate any necessary legal documentation and we are able to personalise the contract to suit your property if you have specific clauses that you wish to be included. Our tenancy agreements are reviewed regularly and approved by the Office of Fair Trading.

Schedule of Condition and Inventory

Before your tenant moves in, we will prepare a comprehensive and detailed Schedule of Condition and inventory of fixtures/fittings within your property, including photographic evidence.  This document is vital to both you and your tenant, and is essential in settling any differences of opinion that may occur at the beginning, during or at the end of the tenancy.

Collection of Deposits

We will take a monetary bond from the tenant (limited to 5 weeks rent).  This will be retained and used in case of arrears, non-payment of services and any losses or damage caused to the property by the tenant at the end of the tenancy.  The deposit belongs to the tenant.  The deposit has to be protected under a Government approved scheme. We are regulated by The Dispute Service and therefore allowed to hold deposits.  At the end of the tenancy, any deductions must be agreed with the tenant.  In the event that no agreement is reached, the matter is referred to an Independent Case Examiner (ICE) employed by The Dispute Service.

The ICE will not attend the property and so evidence and records are essential. Whilst yet to be tested, we believe our extensive record of condition will provide conclusive evidence.

Collection of Rent

Rent monies are monitored closely and a tenant will be contacted immediately if any arrears arise. Normally, a friendly telephone call or a more specific letter can easily rectify this.

Inspections

During a tenancy, we will periodically inspect the property internally (approximately every five to six months). Following these inspections, a written report will be forwarded to you. These can prove essential in monitoring the tenant and they can also prove to be an ideal opportunity for the tenant to bring any maintenance problems to our attention.

Note: Due to safety measures, we do not inspect attics or lofts.

Unfurnished properties are the most popular rentals, so all furniture and white goods must be removed.

Occasionally we will manage furnished properties or properties where white goods are integrated and appropriate to leave in situ. If this is the case, each appliance should be ‘hard-wired’ or subject to a’ portable appliance test’ (PAT). You will be expected to maintain and/or replace any ‘integral’ appliance. If the appliance fails the test, it must be removed.

INSTRUCTION BOOKS MUST BE SUPPLIED prior to occupancy.

Tenants are expected to maintain lawned areas but we are unable to enforce maintenance of shrubs or flowerbeds to the high standard some landlords require.

You will be required to provide us with three full sets of keys for your property.

One set of keys to be held by Antony Richards Property Services.

The landlord is legally required to ensure that the heating and hot water system is maintained.

Tenants are becoming increasingly discerning with regard to heating and even the type of heating. It is now very difficult to let a property without heating. It is strongly recommended that the property does have some source of heat (preferably economic to run).

Maintenance of hot water and heating is the single most cause of complaints/referrals from tenants.  Often this is ‘out of hours’ leading to an increased call-out charge from plumbers/heating engineers.

Many standard house insurance policies do not cover letting so you should always make sure that your property and any contents are adequately insured and fully covered.

We cannot be held responsible for any difficulties arising as a result of failure to do this.  Rent protection is available.

We can advise on the best way to offer a property for sale and refer you to independent financial advice.

We have a good relationship with most of the estate agents in Penwith and would happy to work with any agent you chose. If a sale is agreed to an existing tenant, our fee will be a one per cent commission (+ VAT) of the sale price.

Problems can occur during a tenancy which may not necessarily be the fault of the tenant but due to general wear and tear.

We recommend that provision be made regarding maintenance. When a maintenance problem is reported to us, if the cost of the repair is below £200 we will authorise the repairs.

If the cost is going to exceed this amount, we will report it to you so that you can choose whether you wish us to arrange the repair (with any costs being deducted from your next month’s rent) or to arrange it yourself. Such repairs must be carried out without undue delay.

Rent is collected normally per calendar month and is forwarded to you less our fees. We must allow seven days to allow cheques to clear before making payment.

This can be via electronic transfer direct to your bank account (our preferred method) or by cheque.

All money collected on your behalf is paid into a clients’ account.

Please note that we cannot be held responsible for any charges incurred due to late payment of rental monies. Any minimal interest accrued is retained.

Any income received from a rental property is deemed to be a taxable one. Payment of income tax for a UK resident is the landlord’s responsibility and it will be up to you to file any tax returns or claims. Legislation provides for a range of landlord’s expenses that can be offset against the rental income. Some examples of these expenses are listed below, but this list is not exhaustive and professional advice should always be sought to guarantee that the full potential of the expenses are realised.

• Insurance premiums still paid on the property, e.g. buildings/contents policies
• Maintenance and repair costs of works carried out during a tenancy
• Mortgage interest payments
• Agents’ fees
• Utility bills (if still paid by the landlord)If you are to reside outside the UK then your tax liabilities differ. Under the Taxes Management Act 1970 and the relevant 1996 amendments, where a landlord resides abroad and receives income from a rented property, the tax liability can be made to rest upon the party responsible for collection of the rent.

Under the FICO regulations, we as collectors of your rent must deduct tax from your rent each month and pay this to the Inland Revenue each quarter. Unfortunately this has to be carried out regardless of whether or not you are actually taxable on the income. However, you are able to apply for an ‘exemption certificate’ from the Inland Revenue which waives us, as the rent collectors, from any liability. If this exemption is granted, we will pay any appropriate rent payments to you without any tax deductions.
To assist you in completing your tax returns, we will obviously provide you with regular rental statements detailing all deductions made and all payments made to you.

Upon vacating the property, you should request a ‘closing account’ from your telephone company and have the line disconnected.

The onus is therefore upon the tenant to re-connect the line in their name if they then wish to use the telephone.

It is not obligatory to provide a television aerial in your property.

However, most tenants will require an aerial. Most properties have television aerials and if you as landlord supply an aerial, you will be expected to maintain it and, if necessary, upgrade it.

A tenant will normally be responsible for all utility bills, i.e. council tax, water rates, gas and electric.

We will take meter readings and advise the utilities upon each change of tenant.

Condensation is another of our major causes of tenants’ complaints.

Please ensure all windows can be opened and closed to allow your property to be ventilated and therefore reduce the likelihood of condensation.