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Landlord Fees & Statutory Requirements

Jeffersons Estate Agents offers:

  • Technical expertise in a specialist field
  • High standards of professional competence
  • Sound knowledge of tenancy law and legal notices
  • Compliance with fire and safety regulations
  • Prompt accounting to clients
  • Separate client bank accounts
  • Fidelity bonding of clients funds and tenants’ deposits
  • Professional indemnity insurance cover

 

At Jeffersons we have the flexibility to offer four levels of service as follows:

 
Letting

Fees:  12% inclusive of VAT (10% plus VAT)

  • Free property appraisal
  • Full marketing exposure given with access to three major property portals
  • Preparing Tenancy Agreements and Notices
  • Obtain tenant references and where applicable guarantor references
  • Collection of the initial payment and security deposit (as stakeholders)
  • Register deposit with the Tenancy Deposit Scheme (http://www.thedisputeservice.co.uk/)
  • Arrange for the preparation of an inventory
  • Organising check-in/out
  • Transfer of utilities
  • Negotiate renewals
  • For an additional fee, we will carry out quarterly property visits and provide a detailed inspection report

 

Rent Collection

As above but also to include:

  • Collection of monthly rent

 

Full Management

Fees - additional to letting fee:  6% inclusive of VAT (5% plus VAT)

As part of our management service we will carry out all the above but also include:

  • Quarterly visits followed up with a detailed report
  • Payment of Landlords Utilities and Council Tax charges
  • Payment of regular outgoings (excluding mortgage payments) - ground rent, service charges, insurance premiums
  • Collect and remit rent to your bank account as soon as we receive cleared funds
  • Forward monthly statements of account to you and your accountant
  • Handle all maintenance issues (with landlords’ approval)
  • Arrange for Landlords Gas Safety Certificates to be carried out annually
  • Arrange for regular tests on electrical equipment
  • Organise an Energy Performance Certificate
  • Receive approval for non-resident landlords from the Inland Revenue
  • Handle tax implications with the Inland Revenue for non-resident landlords

 

Vacant Management

Fee:  £180.00 inclusive of VAT per month (£150 plus VAT)

During intentional vacant periods Jeffersons will continue to manage your property at a reduced rate.

 

Other Fees

Property Visit 

Fee - for let only landlords:  £90.00 inclusive of VAT per visit (£75 plus VAT)

Free for fully managed properties

 

Administration Fees

Landlord Agreement Fee:  £150.00 inclusive of VAT (£125 plus VAT)

 

Landlord Renewal Agreement Fee:  £90.00 inclusive of VAT (£75 plus VAT)

 

 

Additional information for Landlords

Furniture and Furnishings (Fire Safety Amendment) Regulations 1993

The above regulations were amended in 1993 and set levels of fire resistance for domestic upholstered furniture and furnishings. It is an offence to 'supply' in the course of business any furniture which does not comply with the regulations. This includes supplying furniture as part of a residential property to be let.  The regulations apply to; sofas, beds, bed-heads, childrens' furniture, garden furniture suitable for use in a dwelling, scatter cushions and pillows, stretch or loose covers for furniture or other similar items. The regulations do not apply to: curtains, carpets, bedclothes (including duvets and mattress covers).  Any furniture manufactured after March 1990 is likely to comply, but if the appropriate labels are not on the furniture, compliance is in doubt and checks should be made with the manufacturer.

 

The Gas Safety (installation and use) Regulations 1998

These particular regulations came into effect in October 1994 to ensure that gas appliances are properly installed and maintained in a safe condition in order to avoid the risks of carbon monoxide poisoning. It is the responsibility of landlords to ensure that ALL gas appliances and gas installation pipe work owned by them is checked for safety at lease once a year by a certified engineer.

 

The Electrical Equipment (Safety) regulations 1994

The above regulations impose an obligation on a landlord to ensure that all electrical appliances left as part of a let property are safe. Cabling, fuses and plugs should also be inspected and replaced where necessary to the correct rating for that particular appliance.

 

The Building Regulations 1991 - Smoke Alarms

The 1991 Building Regulations require that all properties built since June 1992 must be fitted with mains operated interlinked smoke detectors/alarms on each floor. Such regulations regarding older properties do not exist but we strongly recommend that smoke alarms are fitted in all let properties and are regularly checked to ensure they are in full working order.

 

Legionella Testing

Health and safety legislation requires that landlords carry out risk assessments for the Legionella bacteria which cause Legionnaires' Disease and thereafter maintain control measures to minimise the risk. Most rented premises will be low risk but it is important that risk assessments are carried out and control measures introduced.

 

Consent To Let

If you have a mortgage you must obtain consent from your mortgage lender in order to be able to rent the property out. If your interest in the property is leasehold your lease may require you to obtain consent from your landlord prior to sub letting. It is a requirement for landlords to sign their own tenancy agreement. Therefore it is important that we have a contact address, e-mail address, telephone and fax number in order that the document may be forwarded for signature prior to any tenancy.

 

If would like us to let and/or manage your property for you, please call 020 8369 5570 or e-mail lettings@jeffersons.uk.net

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