Information for landlords
If you
currently own or intend to purchase residential property for rental
in Middlesex or South Hertfordshire, you should consider engaging
our property management service. You'll find it both professional
and cost-effective. As we are specialists, we know how to manage
property for optimum performance, whilst ensuring smooth running
tenancies, and compliance with the various landlord/tenant laws.
Maximise the return on your investment - contact us
now.
- Visiting you at your property, and providing a rental
valuation and any other advice which you may require about
letting your property.
- Advising you on compliance with the various safety
regulations.
- Locating suitable tenants. Your property will be advertised if
necessary, however we have excellent contacts with various
company and other establishment personnel departments, and
furthermore usually have tenants waiting.
- Accompanying tenant applicants to view the property.
- Obtaining and evaluating references and credit checks.
- Preparing a suitable tenancy agreement and arranging signature
by the tenant.
- Collecting and holding as stakeholders a deposit (bond) from
the tenant.
- Preparing an inventory and schedule of condition.
- Checking the tenant into the property and agreeing the
inventory.
- Supervising the transfer of gas, electricity and council tax
accounts into the tenant's name.
- Receiving rental payments monthly in advance, and paying you
promptly, together with a detailed statement from our
computerised management systems.
- If required paying regular outgoings for you from rental
payments.
- Inspecting the property periodically, and reporting any
problems to you.
- Arranging any necessary repairs or maintenance, first liaising
with you in the case of larger works.
- Keeping in touch with the tenant on a routine basis, and
arranging renewals of the agreement as necessary.
- Checking tenants out as required, reletting and continuing the
process with the minimum of vacant periods to ensure that you
receive the optimum return from your property.
We maintain a flexible
attitude, and are generally able to adapt our service to meet our
client's individual circumstances and needs, for example by
providing a part only service, or alternatively by taking on
additional tasks and duties.
Our fees are simple and very straight forward. We charge a flat fee of 8% of each month's rent and that's it. Unlike other agents, we have no fees for finding you a tenant or for carrying out basic reference checks with employers and banks. There are no other standard fees or charges. No up front charges with nothing to pay until a tenant moves in and starts paying rent.
We do however make a small admin charge of £35 for each renewal of an existing agreement. This covers producing and arranging for contracts to be renewed.
Full reference checks on tenants, via an independent agency, can be made for a small additional fee, as well as taking all reasonable precautions to ensure your rent is paid on time and your property is kept in the condition you would like. More information is shown
further down this page - to learn more now, click here.
Before a property can be let, there
are several matters which the owner will need to deal with to ensure
that the tenancy runs smoothly, and also that he/she complies with
the law. For brief details of a subject click on a blue link below,
or scroll down the page. If you require further advice or assistance
with any matter, please do not hesitate to contact us:
Mortgage
If your property is mortgaged, you should obtain your mortgagee's
written consent to the letting. They may require additional clauses
in the tenancy agreement of which you must inform us.
Leaseholds
If you are a leaseholder, you should check the terms of your lease,
and obtain the necessary written consent before letting.
Sub-letting
If you are a tenant yourself, you will require your landlord's
consent.
Insurance
You should ensure that you are suitably covered for letting under
both your buildings and contents insurance. Failure to inform your
insurers may invalidate your policies. We can advise on Landlord's
Legal Protection, and Landlord's Contents insurance if required.
Bills and regular outgoings
We recommend that you arrange for regular outgoings e.g. mortgage,
service charges, maintenance contracts etc. to be paid by standing
order or direct debit. However, where we are Managing the property,
by prior written agreement we may make payment of certain bills on
your behalf, provided such bills are received in your name at our
office, and that sufficient funds are held to your credit.
Council tax
Council tax is the responsibility of the occupier. You should inform
your local collection office that you are leaving the property.
During vacant periods the charge reverts to the owner. When
unoccupied but furnished, the charge is 50% of the normal rate. When
unoccupied and 'substantially' unfurnished, there is no charge for
the first six months, and thereafter a charge of 50% of the normal
rate.
The inventory
It is most important that an inventory of contents and schedule of
condition be prepared, in order to avoid misunderstanding or dispute
at the end of a tenancy. Without such safeguards, it will be
impossible for the landlord to prove any loss, damage, or
significant deterioration of the property or contents. In order to
provide a complete service to the landlord, we will if requested
arrange for a member of staff to prepare an inventory and schedule
of condition, at a cost to be quoted.
Income tax
When the landlord is resident in the UK, it is entirely his
responsibility to inform the Inland Revenue of rental income
received, and to pay any tax due. However, where the landlord is
resident outside the UK during a tenancy, under new rules effective
from 6 April 1996, unless an exemption certificate is held, we as
landlord's agents are obliged to retain and forward to the Inland
Revenue on a quarterly basis, an amount equal to the basic rate of
income tax from rental received, less certain expenses. An
application form for exemption from such deductions is available
from this Agency, and further information may be obtained from the
Inland Revenue.
The following safety requirements are the responsibility of the
owner (the landlord), and where we are to manage the property, they
are also ours as agents. Therefore to protect all interests we
ensure full compliance with the appropriate regulations, at the
owner's expense.
Gas Appliances & Equipment
Under the Gas Safety (Installation and Use) Regulations 1994
(amended 1996) and some other regulations, all gas appliances in
tenanted premises must be checked for safety at intervals of not
more than 12 months, by a CORGI registered gas engineer, and a
safety certificate issued. Records must be kept of the dates of
inspections, of defects identified, and of any remedial action
taken.
Electrical Appliances & Equipment
Under the Electrical Equipment (Safety) Regulations 1994, the Plugs
& Sockets etc. (Safety) Regulations 1994 and some other
regulations, electrical installations and equipment in tenanted
premises must be safe. Although (unlike gas) no safety certificate
is legally required, and therefore it may be adequate to perform a
visual check of electrical equipment, fittings and leads, it is
recommended that a qualified electrician be engaged for this
purpose.
Furniture & Furnishings
The Furniture and Furnishings (Fire) (Safety) Regulations 1988
(amended 1989, 1993 & 1996) provide that specified items
supplied in the course of letting property must meet minimum fire
resistant standards. The regulations apply to all upholstered
furniture, and beds, headboards and mattresses, sofa-beds, futons
and other convertibles, nursery furniture, garden furniture suitable
for use in a dwelling, scatter cushions, pillows, and non-original
covers for furniture. They do not apply to antique furniture or
furniture made before 1950, bed clothes including duvets, loose
covers for mattresses, pillowcases, curtains, carpets or sleeping
bags. Therefore all relevant items as above must be checked for
compliance, and non-compliant items removed from the premises. In
practice, most (but not all) items which comply must have a suitable
permanent label attached. Items purchased since 1.3.90 from a
reputable supplier are also likely to comply.
General Product Safety
The General Product Safety Regulations 1994 specify that any product
supplied in the course of a commercial activity must be safe. In the
case of letting, this would include both the structure of the
building and its contents. Recommended action is to check for
obvious danger signs - leaning walls, broken glass, sharp edges
etc., and also to leave operating manuals or other written
instructions about high risk items, such as hot surfaces, electric
lawnmowers, etc. for the tenant.
We have found from experience that a good relationship with tenants
is the key to a smooth-running tenancy. As Property Managers the
relationship part is our job, but it is important that the tenants
should feel comfortable in their temporary home, and that they are
receiving value for their money. This is your job. Our policy of
offering a service of quality and care therefore extends to our
tenant applicants too, and we are pleased to recommend properties to
rent which conform to certain minimum standards. Quality properties
attract quality tenants.
General condition
Electrical, gas, plumbing, waste, central heating and hot water
systems must be safe, sound and in good working order. Repairs and
maintenance are at the landlord's expense unless misuse can be
established.
Appliances
Similarly, appliances such as washing machine, fridge freezer,
cooker, dishwasher etc. should be in usable condition. Repairs and
maintenance are at the landlord's expense unless misuse can be
established.
Decorations
Interior decorations should be in good condition, and preferably
plain, light and neutral.
Furnishings
It is recommended that you leave only minimum furnishings, and these
should be of reasonable quality. It is preferable that items to be
left are in the property during viewings. If you are letting
unfurnished, we recommend that the property contains carpets,
curtains, and a cooker.
Personal items, ornaments etc
Personal possessions, ornaments, pictures, books etc. should be
removed from the premises, especially those of real or sentimental
value. Some items may be boxed, sealed and stored in the loft at the
owner's risk. All cupboards and shelf space should be left clear for
the tenant's own use.
Gardens
Gardens should be left neat, tidy and rubbish-free, with any lawns
cut. Tenants are required to maintain the gardens to a reasonable
standard, provided they are left the necessary tools. However, few
tenants are experienced gardeners, and if you value your garden, or
if it is particularly large, you may wish us to arrange maintenance
visits by our regular gardener.
Cleaning
At the commencement of a tenancy the property must be in a
thoroughly clean condition, and at the end of each tenancy it is the
tenant's responsibility to leave the property in similar condition.
Where they fail to do so, cleaning should be arranged at their
expense.
Mail forwarding
We recommend that you make use of the Post Office redirection
service. Application forms are available at their counters, and the
cost is minimal. It is not the tenant's responsibility to forward
mail.
Information for the tenant
It is helpful if you leave information for the tenant on operating
the central heating and hot water system, washing machine and alarm
system, and the day refuse is collected etc.
Keys
You should provide one set of keys for each tenant. Where we are
Managing we will arrange to have duplicates cut as required.
References:
Successful tenant selection is not about choosing the kind of tenant you would prefer – it is about selecting the tenant who is most likely to respect your property, pay your rent on time & behave well towards their neighbours. It is also about being prepared to turn down tenants and leave the property vacant for a brief period if you are unable to get the right tenant.
Professional tenant referencing agencies have a great deal of experience in discovering the truth and have ways of checking up on what is
and what isn’t right. Indeed, the prospect of having information professionally verified might be sufficient to deter a dishonest tenant who would otherwise lie in order to rent a property.
We offer the following referencing services - a Full Reference report or a basic Credit Check for individuals and a Company Reference for corporate tenants.
Option 1: FULL REFERENCE our recommended referencing for all individual tenants. Every comprehensive reference report has the benefit of the following:
- CREDIT HISTORY CHECK
- PREVIOUS MANAGING AGENT or LANDLORDS REFERENCE
- EMPLOYMENT (or any other financial) REFERENCE
- OUR EXCLUSIVE TENANT DATABASE CHECK
If your tenant successfully passes our referencing checks we you can have our Rental Guarantee Insurance to cover you if the tenant defaults on the rental payments.
The cost of a Full Reference is £65.00
Option 2: CREDIT CHECK a basic credit check is a fast and effective way of checking out an individual tenant’s previous credit history, but should not be used on it’s own to assess their suitability as a tenant.
The credit history check will automatically check the applicant’s previous addresses, and will locate any credit agreement defaults, CCJ’s or bankruptcies found at any of the addresses located. The credit history search also checks to see if the applicant has ‘forgotten’ to provide us with any previous addresses.
If your tenant successfully passes our credit checks we cannot offer Rental Guarantee Insurance unless you also provide us with satisfactory proof of income and a satisfactory previous landlords reference (if applicable).
The cost of a Basic Credit Check is £45.00
Option 3: COMPANY REFERENCE to be used when a Tenancy agreement is being drawn up in a Company’s name and not an individual’s name.
A full analysis of balance sheet and profit and loss assessing the financial stability of the company is carried out on each reference. Details of Directors and Shareholders are also analysed giving an ‘all round’ opinion of the suitability of the company to discharge their rental liabilities.
If your corporate tenant successfully passes our Company referencing checks you can have our Rental Guarantee Insurance to cover you if the tenant defaults on the rental payments.
The cost of a Company Reference is £70.00
IF YOU WOULD LIKE OHPM TO REFERENCE YOUR TENANTS PLEASE LET US KNOW AND WE WILL COMPLETE ONE OF OUR REFERENCING APPLICATION FORMS FOR YOU.
Landlord contact form
If you are interested in discussing the options further please do
contact us or, better still for us, fill in our form below which
collects all the information we need. We'll then contact you
to discuss your requirements - naturally without any obligation.
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