Allan Howard & Co

020 8907 2525

kenton@allanhoward.co.uk

Landlord Process

1Accurate valuation

The achievable rental value of your property is determined by many factors including location and number of bedrooms, local services and amenities, the cosmetic appearance and overall condition of the property. Allan Howard & Co will advise you on a realistic rental value taking into all these factors into consideration together with the current state of the local market. The team at Allan Howard & Co will also keep you updated with changes in the private rental sector to make sure that your property is compliant with current regulations!

2Consider Property Management

Looking after a rented property is easy when you have responsible tenants and live locally. However, if anything does go wrong, from a boiler breaking down to a tenant losing their job it can get very stressful. There is a mountain of legal obligations, with seemingly more forms to complete every day. Let us take the strain and manage your property for you. We can ensure that you’re protected in every way and we’ll work hard to make sure you’re not out of pocket financially. We’re proud of our knowledge of the industry and will always act in your best interests at all times.

3Preparing your property for tenancy

Decide whether to let your property furnished or unfurnished. Furnished properties will give a better visual impression to the prospective tenants on how the property will look, making it more likely to rent quicker. If the quality of the furniture warrants it, you can charge a premium rental price than if it was unfurnished. We recommend that the landlord provides white goods as a minimum (washing machine, cooker and fridge freezer) if letting the property unfurnished. Flexibility is key as this will broaden the appeal of the property to prospective tenants as individual requirements vary. Anything surplus to requirements should be removed and placed into storage if need be.

4Marketing your property

Allan Howard & Co vigorously market all our available stock across a wide variety of mediums. We subscribe to Rightmove, Zoopla, Prime Location and On the Market. Additionally, we display your properties on this website as well as with in our shop window. We have many highly visible, strategically placed ‘To Let’ boards in the area. Your property will receive maximum exposure using a combination of these methods backed up by daily contact with pre-vetted potential tenants from our database. We aim to avoid void periods and to maximise the return on your investment..

5Receiving an offer

Once we receive an offer, we will relay that information to you, together with detailed information on the potential tenants. We check their situation, employment status, who is intending to move in, and how long they are looking to rent for. As the Landlord, you have the final say as to whether you wish to proceed and accept their offer. If not, viewings will continue until a suitable tenant is found.

6Offer agreed

At this point, we will ask for a holding deposit from the applicants and ask them to visit the office with their Right to Rent ID which will be checked and copied. We will also commence the referencing process. During this time, viewings are suspended until all checks have been completed to everybody’s satisfaction. If the deal falls through at any point, we will re-commence viewings immediately.

7References checked

All tenants will undergo thorough background checks. We use an independent reputable referencing company to report on their suitability and credit-worthiness, including their payment history on any previous lending and any adverse credit e.g. CCJ’s or bankruptcies. Their identity is also verified as is their right to live and work in the UK – We cover the Right to Rent checks including whether they are subject to any immigration control. If they have rented properties in the past, we will ask their Landlords to provide us with a reference. This information is provided by Homelet and is compiled into a report which gives a final credit score, and whether they have passed or failed. From that we can paint a very good picture on their suitability as a tenant for your property.

8Move In Monies taken and agreement signed

Once all referencing is completed and deemed satisfactory, we then ask the tenants to pay their first months rent and security deposit. Upon receipt of cleared funds, we will arrange for the tenancy agreement to be drawn up and signed by all parties. All deposits are protected in a Government approved deposit scheme..

9Move In Date

If an inventory was taken, the Clerk will meet the tenants at the property to conduct the check in process. The meter readings will be taken, the keys will be photographed and then handed to the Tenant. If the property is managed, we will also retain a set of keys at our office. Within seven days the inventory will be sent to the Tenant for them to agree and sign, with any amendments highlighted within 14 days or the inventory will be locked down..

Close

THERE ARE NO FEES TO TENANTS FOR REFERENCE CHECKS

Refundable Holding deposit: Capped at 1 weeks rent

Security Deposit: Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent: The agreed monthly rent

Replacement keys: £variable. (cost will vary dependent on complexity of lock/security device). Please note that evidence of the actual cost of the replacement key or – security device must be supplied to the tenant. Allan Howard & Co/landlord can only charge the exact cost of the replacement

Change of Tenant: Capped at £50 Inclusive of VAT

Late Payment of Rent (14 days after rent is due): 3% above Bank of England base rate

Utilities: You will be responsible for the payment of telephone, internet, gas, water and electricity accounts at the property during your tenancy, as well as the council tax unless agreed otherwise. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy. Utility companies will also always require the occupant to provide access for any visit.

Management of the Property: At the start of the tenancy we will advise you who is responsible for managing the property. This is not always Allan Howard & Co. Where we are not managing the property we cannot authorise any repairs or maintenance, or guarantee the speed at which repairs will be carried out. Where we are managing the property, we may have to obtain the landlord’s consent before proceeding with a repair.
Where we manage a property and hold keys, we can usually provide access to our nominated contractors (with your permission). However, where we do not hold keys or the contractor is not willing to collect keys, it is your responsibility to provide access.

Redress Scheme: ALLAN HOWARD & CO ARE MEMBERS OF THE FOLLOWING REDRESS SCHEME: The Property Ombudsman: Membership No: N00790/0

Client Money Protect: ALLAN HOWARD & CO ARE MEMBERS OF THE FOLLOWING CLIENT MONEY PROTECTION SCHEME: Client Money Protect Membership no: CMP011727

LANDLORD FEES

Let only: 9% inc VAT. Let only service includes marketing the property, carrying out accompanied viewings, arranging for the inventory to be carried out, carrying out the relevant checks on the potential tenant including credit checks and referencing and finalising the tenancy agreement.

Rent Collection: 3% of the yearly rental

Full Management: 12% inc VAT. Full management includes all of the above, as well as getting quotes for repairs and arranging for repairs within the property, carrying 1 routine inspection per annum and notify the landlord of the outcome, advising all relevant utility providers of changes and hold the keys throughout the tenancy term.

Check Out Fee: N/A

EPC Charge: £90 inc VAT