LETTING

LANDLORDS
Welcome to our totally independent, comprehensive letting service, designed especially for you. Here, we aim to reduce rental gaps and find you suitable tenants within three weeks. Having found your tenant, our professional team will obtain all necessary references and documentation, with a view to Agreement signing and 'move in' as soon as mutually acceptable between Landlord and Tenant.
 

FEES - FULLY MANAGED

For the distant landlord or those not wishing to become involved in their property management, we offer a full management service, which includes:

• Advise of the achievable monthly rental
• Preparing colour details and adding to our property availability list
• Advertise on the internet
• Advertise in local and /or appropriate newspapers.
• Advertise in our window display
• Find suitable tenants to match your criteria
• Take up full references with a recognised reference agency – this includes over 25 different checks
• A six-month rent guarantee – this can be increased to a 12-month policy at an additional cost.
• Draw up Shorthold Tenancy Agreement
• Advise utilities of change of occupancy.
• Arrange and action the moving in of your tenant.
•  Preparation of inventory and schedule of condition
• Collection of rent.  Payment direct to you or into appropriate bank account less any fees or expenses incurred relating to that period.
• A monthly statement issued showing rents collected and invoices paid on your behalf. 
• Regular inspections and reports to ensure your property is in good condition and your criteria are being adhered to. 
• 24/7 call out to deal with any repairs and problems that may occur from time to time.

 

For the above services we charge:	25% +VAT Of first months rent.
Monthly management fee:	12 ½ % + VAT of the monthly rents collected thereafter.
Contract renewal for existing tenants if required.	£50.00 + VAT

Landlords having multiple properties registered with U Seek Property will receive discounted rates.

A separate charge will be made, in the unlikely event of court attendance in connection with rent arrears or re-possession of the property.

FEES - LET ONLY

Upon receipt of your formal instructions to let your property, our service will include:

• Advise of rents achievable
• Preparing details and adding to our property availability list
• Advertise on the internet
• Advertised in local and/or appropriate newspapers
• Find suitable tenants to match your criteria
• Take up references with a recognised reference agency which includes over 25 checks
• Free rent guarantee with every successful applicant – this can be upgraded to a 12 month policy at an additional cost if so required.
• Draw up Shorthold Tenancy Agreement
• Advised utilities of change of occupant
• Arrange and Action the moving in of your tenant.

For all the above we charge a one off setting up fee of:	60% + VAT of first months rent *
Subject to a minimum charge of £300.00 + VAT	£50.00 + VAT

Additional if requested

Paper based Inventory and Schedule of Condition	£50.00 + VAT
Updating the inventory at Change Over	£20.00 + VAT

                        

Should you require photos with this service please contact us for a quotation.

Financial Management

For those landlords who do not wish to receive all the above quoted services but do require us:

To collect the rents and pay them to a nominated bank account and issue monthly statements and annual rent statements we charge our one off fee as quoted above and in addition to this:                                                                             

5% + VAT  Of the monthly rents collected thereafter

          
                                                                                            

LANDLORDS INFORMATION

1. Check if you require the consent on any third party for the letting of your property. For example the bank or building society to whom the property may be mortgaged, or your landlord, should the property be leasehold.

2. Rental Income is classed as unearned income and is therefore taxable; there are some expenses that are treated as tax-deductible i.e. professional fees associated with the letting of your property, maintenance repairs and interest elements on your mortgage repayments. For further information please contact your local Inland Revenue Office.

3. Since 1996 Landlords who are not resident in the U.K have been required to pay basic rate of income tax from rental payments received. Only if, as a non-resident Landlord you are able to produce a notice from the Inland Revenue authorising gross payment, can we your agents make payment without tax deduction.

4. Landlords Buildings Insurance (including property owner’s liability) is mandatory, and serious consideration should be given to other insurances. There are five main categories to consider: Contents Cover (including Landlords liability), Limited Contents Cover-for unfurnished properties (including Landlords liability), Legal Expenses, Rent Guarantee (including Legal Expenses) and Emergency Assistance.

5. Agents and Landlords who let property throughout England should be fully aware of the nationwide introduction of mandatory licensing of houses in multiple occupation (HMO) which came into force on 6 April 2006.

As from the above date, properties with three or more floors and 5 or more tenants belonging to 2 or more families, will require a licence to be granted by the local authority. In practice, this mainly means bedsits and student houses. To grant the licence the authority must be satisfied that:

· The proposed licence holder, the landlord or managing agent, are ‘fit and proper’ people

· Properties and tenancies are managed satisfactorily

· The accommodation meets all minimum standards such as sufficient number of toilets, kitchens, basins and bathrooms for the number of residents.

Not holding the required operators licence is a criminal offence and carries significant penalties with landlords and letting agents facing fines of up to £20,000, a criminal record and potentially, rent repayment orders.

For further information or a quotation form please contact U-Seek Property.