My services
Letting-only – a one-off, fixed fee of £595
My letting-only service includes the marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective tenant. This proving satisfactory, I then go ahead and prepare the tenancy agreement and, if required, an inventory.
Following this, the first month's rent and usually a tenancy deposit is collected and credited to the landlord less the agreed fee. Managing the tenancy, including the maintenance and rent collection, will then be the responsibility of the landlord.
Full management – a one-off fee of £450+ just 10% per month
This is my inclusive service, which provides for the marketing of the property and carrying out viewings, leading to the introduction and comprehensive vetting of a prospective tenant by a professional referencing company. This proving satisfactory, I then go ahead and prepare the tenancy agreement, and arrange for a professional inventory to be drawn up. The tenant will then be checked in against the inventory.
During the tenancy I carry out periodic inspection visits. Should these bring to light any maintenance issues I will (within the confines of our management agreement) arrange or recommend any necessary repairs.
Collecting and processing of rental payments is also an important part of my full management service. Rental balances will be credited automatically to the landlord's nominated bank account.
Towards the end of the tenancy, I liaise with the tenant with a view to renewing the tenancy agreement, or arranging to check them out and re-advertising the property to let.
This service is suitable for landlords who are not residing locally, or would rather not deal with the tenants directly, preferring all aspects to be handled by an agent.
Inventory, schedule of condition, check in, and check out
Letting agents deal with each of these operations in a variety of confusing ways. Here at Hereford Lettings I'm aware that it can be perceived to be non-independent and perhaps favour the landlord if I prepare the inventory and schedule of condition report. So, to ensure impartiality, and to avoid unwanted delays in returning deposits, I employ an independent specialist in this field to do this for me.
Professional inventory and schedule of condition
The inventory compilation is free for landlords who choose full management. I believe it is in their best interest to have this compiled to protect their investment. This means that at the start of each let, a definitive description of the condition of their property and its contents is available. For landlords who want to manage the property themselves I can arrange this for an extra fee determined by the property type and size.
The check in process
This is carried out by the professional inventory company and is included in my management fee. This is the time when the tenant has the opportunity to ensure that they have input in protecting their security deposit by agreeing to the contents of the inventory. Not all agents offer a full check-in, but I believe this is essential to prevent any end of tenancy disputes.
The check-out process
It is the time when the condition of the property is assessed against the original inventory report and the landlord and tenant come to an agreement on returning the deposit and/or making reasonable deductions from it. Currently the charges are £80.00 for one to three bed properties and £95.00 for four or more bed properties.