our guide to letting your property

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1 our guide to letting your property 1

letting your property Our landlord information pack outlines the comprehensive and professional service provided by Monks Estate and Letting Agents.

2 letting your property Our landlord information pack outlines the comprehensive and professional service provided by Monks Estate and Letting Agents. We currently manage on behalf of our clients a wide range of properties throughout Shropshire from our offices in the County Town of Shrewsbury and the popular Market Town of Wem. We have a dedicated, professional team who have experience and comprehensive knowledge of the lettings procedure who will ensure the correct Tenants are found for your property. We will assist both Tenants and Landlords to ensure a quality service is received. Monks are members of the three most influential organisations in the Lettings industry and you can be assured that our staff are up to date with current legislation and are fully qualified to deal with any matters which may arise. As a member of the Royal Institution of Chartered Surveyors we are bound by the Institution s Code of Conduct which requires the holding of Professional Indemnity Insurance and the professional auditing of clients accounts. contact me for your valuation, market appraisal and lettings advice Judy Bourne Sales & Lettings Manager judy.bourne@monks.co.uk Judy 2

the letting process Rental Valuation Visit Marketing of the Property Monks offer a free, no obligation appraisal which will include: Viewing the property Advice on achievable rental value Advice on

3 the letting process Rental Valuation Visit Marketing of the Property Monks offer a free, no obligation appraisal which will include: Viewing the property Advice on achievable rental value Advice on an Assured Shorthold Tenancy Advice on Landlord and Tenant obligations Marketing Strategy Service offered and fee structure Prepare property details including room measurements, internal and external photographs. Internet advertising including Monks website, Rightmove, Zoopla, Find a Property.Com, Prime Location and Globix Inclusion within Monks advertisement in Shrewsbury Chronicle Marketing within both Monks Shrewsbury and Wem Offices Distinctive `To Let Board Accompanied Viewing Service with regular feedback Tenant Applications All prospective Tenants over the age of 18 are required to complete an application form Credit and identity checks are carried out along with employment, character and previous Landlord s references being obtained. Recommendations are then made to the Landlord for approval and instructions Jo contact me if you have any questions regarding the lettings procedure Jo Woollam Assistant Manager jo.woollam@monks.co.uk 3

4 Tenancy Agreement Once prospective Tenants have been accepted we shall then draw up an Assured Shorthold Tenancy, which was introduced by the Housing Act 1988 and subsequently amended by the Housing Act Under the terms of this agreement the Landlord is entitled to a vacant property at the end of the term. It is not possible for either party to give notice prior to the end of the fixed term, except in certain circumstances such as non-payment of rent. After the fixed period, if the Landlord requires possession, notice of at least two months must be given. The Tenancy can also be brought to an end after the fixed period by the Tenant providing one months notice. At the end of the fixed period if the Landlord does not give notice the Tenant may remain in the property. Thereafter the notice requirements for either party remain the same. If both parties are in agreement the Tenancy may continue indefinitely referred to as a periodic Tenancy. The Landlord remains responsible for the Buildings Insurance in respect of the property and is responsible for checking against any restrictions for letting if the property is subject to a mortgage or finance. We would also recommend that the Landlord insures contents such as carpets, curtains and appliances. It is the Tenants responsibility to ensure their contents. Once the Tenancy Agreement has been signed the Tenant is responsible for the payment of all Utility Bills in respect of the property including Council Tax. Monks will contact the relevant Utility Companies to inform them of the change of occupant so that all Utility bills can be transferred into the Tenant s name with effect from the date of the Tenancy Agreement. At this time all meter readings will be passed onto the relevant companies. Abi contact me to arrange your viewings and discuss applications Abi Boersma Lettings Negotiator abi.boersma@monks.co.uk 4

Inventory A full inventory and schedule of condition of the property will be prepared by a Professional Inventory provider prior to occupation of the incoming Tenants.

Photographic evidence will be taken of the interior of the property along with the condition of the garden and this will be included within the Inventory.

5 Inventory A full inventory and schedule of condition of the property will be prepared by a Professional Inventory provider prior to occupation of the incoming Tenants. This will be signed by the Tenants at their Check-in appointment which confirms their acceptance. Photographic evidence will be taken of the interior of the property along with the condition of the garden and this will be included within the Inventory. Commencement of Tenancy At the check-in appointment the Tenant is required, prior to occupation to 1. Sign the Tenancy Agreement 2. Sign the Inventory and Schedule of Condition and sign to confirm they have read and understood the Tenants Information Pack. 3. Pay one month s rent in advance 4. Pay a deposit of at least one and a half month s rent (this can be negotiable to suit Landlord s requirements) which is then secured with the Deposit Protection Scheme. 5. The monies due are taken in clear funds or bankers draft. On receipt of the above the keys are handed over and the Tenant may make arrangements for occupation of the property. contact me to discuss your inspection visits and maintenance issues Jodie Hillage Property Management Coordinator jodie.hillage@monks.co.uk Jodie 5

6 Services Monks offer two services to suit Landlords individual needs and specifications a full management service and a let only service. However, we are happy to discuss specific details to enable us to adapt our services to meet your requirements. Let only service This let only service is appropriate where the Landlord wishes to deal direct with the property and Tenant once in occupation. Market the property as outlined above Assess prospective Tenants Carry out credit and identity checks Take up references Provide overview and recommendation following referencing to the Landlord for approval and instruction Prepare the Tenancy Agreement Prepare the Inventory and Schedule of Condition Prepare a Standing Order in favour of the Landlord for monthly rental payments Register the deposit within the Deposit Protection Service in line with government legislation Notify the relevant Utility Companies Check-in appointment with Tenant Pass on Landlord s contact details to the Tenant Once the Tenant is in occupation, the Landlord will deal with any queries, requests, rent arrears, maintenance and repairs. Monks will keep both Landlord and Tenant contact details on file in the event of an emergency. Marie contact me with any queries regarding deposits Marie Brooks Lettings Negotiator marie.brooks@monks.co.uk 6

7 Full management service This full management service includes all of that within with let only with the preparing the Standing Order and passing on the Landlords contact details to the Tenants. Once the Tenant is in occupation we will: Collect the monthly rent, generally via Standing Order, deduct our agreed monthly management fee plus VAT at the prevailing rate and transfer the balance to the Landlords bank account. No interest is paid on client account monies. Provide a monthly statement detailing the above Register the deposit within the Deposit Protection Service, in line with government legislation Carry out an initial inspection within the first three months of occupation and thereafter every six months. An inspection report will be sent to you following these visits detailing any concerns or maintenance issues which may arise. Arrange Landlord s Annual Gas Safety Certificate. Liaise with Utility Companies throughout the Tenancy. Conduct annual rent reviews if appropriate. Deal with any maintenance issues which arise at inspections or by notification as and when they occur. Arrange for quotations to be obtained for necessary issues and the works overseen if required. Where possible these costs will be deducted from rents received, if this is not possible due to the nature of the works required, invoices will be directed to the Landlord for settlement. In emergencies, such as a gas leak or burst water pipe, prior authority may not always be obtainable or indeed quotations acquired. Monks has access to reputable and reliable local tradesmen who we are happy to recommend or Landlords may wish to nominate their preferred contractors. Check-out the Tenant at the end of the Tenancy. Arrange quotations for any works required following surrender of the Tenancy Liaise with Tenant with regard to any deductions due from the Deposit. Liaise with the Deposit Protection Service should there be a deposit dispute. Anne Marie 7

Tenancy Renewal If the Landlord wishes to terminate the Tenancy at the expiry date then the appropriate notices will be served by Monks on behalf of the Landlord.

8 Tenancy Renewal If the Landlord wishes to terminate the Tenancy at the expiry date then the appropriate notices will be served by Monks on behalf of the Landlord. If the Tenant serves notice to terminate the Tenancy, the appropriate arrangements will be made and instructions sought from the Landlord with regard to remarketing the property. Rent Arrears and Possession Monks will endeavour to obtain any rent arrears should they arise and if it becomes necessary serve Notice to Quit, advise and assist with court proceedings. Any fees incurred will remain the responsibility of the Landlord. End of Tenancy Once either party has served notice arrangements will be made to carry out a check-out inspection using the original Inventory and Schedule of Condition. Any repairs, replacements or cleaning required will be noted and where appropriate costs incurred with be negotiated by Monks with the Tenant and if in the case of any dispute liaison with the Deposit Protection Service. Once Monks and the Landlord are satisfied that all is in order the balance of the deposit will be released to the Tenant. Meter readings will be taken and Utility Companies advised. Forwarding address for the outgoing Tenant will be recorded in the event of any further communication being necessary. contact me on a Saturday with any queries Rebecca Administrator rebecca.gittins@monks.co.uk Rebecca 8

In the event that agreement relating to deductions cannot be reached through Monks in the usual way between the Landlord and Tenant at the end of the Tenancy, then The Deposit Protection Service will

9 In the event that agreement relating to deductions cannot be reached through Monks in the usual way between the Landlord and Tenant at the end of the Tenancy, then The Deposit Protection Service will provide resolution and a final decision. Monks will provide the relevant documentary evidence to support the Landlord s position including Check-In Report, Inventory and Schedule of Condition, Check-Out Report and digital photographic evidence taken at both the start and end of the Tenancy. Termination of Management Agreement The Management Contract with Monks can be terminated by either party upon giving one month s written notice of intention. However, in the event that a Landlord decides to terminate the Management contract with Monks within the first 12 months, a lump sum termination fee will be charged, which will be equivalent to a total of one month s rent, net of any fees already paid. In the event that the agreement is terminated by the Landlord prior to occupation but where costs have been incurred such as preparation of the Tenancy Agreement or Inventory and Schedule of Condition, a fee may be charged based on costs incurred. Sa ra h Patricia 9

10 general information Contact Details Carpets and Flooring Decoration Electrical Safety It is important that we have on file your current contact details. Please advise Monks if these change. Plain, neutral colours are generally recommended for all types of flooring. It is important that the property is kept in good decorative order both inside and out as this enhances the property and assists whilst securing a Tenant as well as maximising the rental income. Neutral colours throughout are recommended and painted walls will be easier to `touch up in between Tenancies. The wiring installation of the property must be safe. Monks therefore recommend that an Electrical Certificate is obtained by a qualified Electrician prior to the rental of the property. Gas Safety Under the Gas Safety (Installations and Use) Regulations 1998 all Landlords are required to provide a copy of the Landlords Gas Safety Certificate to any new Tenant when they move into the property and to ensure that this updated annually and a renewed copy of the Landlords Gas Safety Certificate is forwarded to the Tenant within 28 days. Monks are happy to arrange this on behalf of Landlords for our managed properties. Furniture Under the Furniture and Furnishings (Fire) (Safety) Regulations 1988 (Amended 1989 and 1993) a Landlord cannot let a property with non-complying furniture. All such types of furniture covered by the regulations must be resistant to fire from a lighted match and carry a display label indicating that it passes the ignitability test. If a Landlord intends to rent a furnished property it is therefore essential that such furniture comply with the regulations. Carpets and curtains are excluded from these regulations. 10

11 Gardens Information Wear and Tear This is an area that can often lead to disagreement between the Landlord and Tenant. Unfortunately many Tenants do not have either the interest or the inclination to properly tend to the garden of the property they are renting. Under the terms of the Tenancy Agreement Tenants are required to maintain the garden. However, if the garden is particularly large or detailed in terms of its requirements it may Be advisable to arrange for a gardener. The cost of this may be added to the rent and the Tenancy Agreement amended accordingly It is advisable to provide Tenants with information sheets regarding such matters as refuse collection day, location of the stopcock, local bus service, schools and amenities that will assist the Tenant during their occupation. If appliances are provided it is essential that all appropriate paperwork be left at the property including operating manuals, service records and guarantees. It is important to note that when letting a property general wear and tear will be inevitable especially where there is a regular turnover of Tenants. Regular re-decorating and touching up will obviously keep the property in a marketable condition. Pets Void Periods It is the Landlords discretion as to whether the property is suitable for pets. Monks do not accept any liability for the property whilst empty and therefore it is recommended that if the property is empty at any time during the winter months it may be advisable to take precautions such as leaving the central heating on low or draining the plumbing installation down to avoid frost damage. Specialist Advice Monks are able to offer advice on the following Rent Reviews Lettings Law and Legislation Serving Notices Overseas Landlord Tax Houses of Multiple Occupation The Deposit Scheme Tenants obligations 11

12 our teams Shrewsbury Our Shrewsbury Office 12 Shoplatch, Shrewsbury, Shropshire, SY1 1HL Tel Fax Wem Our Wem Office 13a High Street, Wem, Shropshire, SY4 5AA Tel Fax

13 key contacts Shrewsbury: Judy Bourne Lettings Manager Jo Woollam Assistant Manager Abi Boersma- Lettings Negotiator Jodie Hillage Property Management Coordinator Sarah Jones Lettings Accounts Clerk Jo Mottram Lettings Coordinator Catriona Nicholls Lettings & Sales Coordinator judy. Wem: Judy Bourne Lettings Manager Jo Woollam Assistant Manager Marie Brooks -- Lettings Negotiator Anne-marie Taylor Lettings & Sales Negotiator Donna Crump Lettings and Sales Coordinator Helen Fradley Administrator 13

Lettings & Full Management

Lettings & Full Management 88 ESTATE AGENCY SERVICES Let Only Full Management Rental assessment & valuation Advertising the property online & in the local media To let sign erected at the property Accompanied