On the face of it becoming a Landlord appears to be quite simple – buy a property, find a tenant, collect the rent!
However there are currently more than twenty different regulations, acts and rules relating to the letting of residential property which include those designed to protect the tenants safety, non compliance with which carry monetary penalties and even imprisonment.
Just a few of these include:
Fire & Furnishings (Fire) (Safety) Regulations 1988
Gas Safety (Installation & Use) Regulations 1998
Housing Health & Safety Rating System 2006
Tenancy Deposit Protection introduced in April 2007
The Energy Performance of Buildings (Certificates & Inspections) Regulations 2008
In addition, the vetting of prospective tenants can be a minefield without the professional expertise that enables the screening out of those who are likely to cause you problems in the future.
By employing Pennington Properties to manage your property, who are fully bonded members of the Association of Residential Letting Agents (ARLA) with qualified staff, you can rest assured that, with the specialist knowledge and expertise we have accumulated over 30 years of property management, your interests will always be protected.
What can you offer me?
Buy to Let Advice including Mortgages and Insurance.
Free Rental Valuation and Property Inspection.
Marketing - Local and Internet.
Accompanied Viewings with Prospective Tenants.
Tenant Referencing by a professional Credit Reference Agency.
Preparation of Tenancy Agreements & Schedules of Condition & Inventory.
Regular Property Inspections and Reports with photographs.
Provision of Gas Safety Certificates and Energy Performance Certificates.
Maintenance and Insurance Claims Management.
Taxation Advice and Annual Tax Statements.
What are your fees?
Our inclusive management fees range from 8% plus VAT to 10% plus VAT depending on the size of the property and the amount of rent likely to be achieved. Special rates apply for those landlords who place more than one property with us to manage.
Please note that our management fee is inclusive of the services we provide. We do not charge an initial setting up fee nor do we charge separately for preparation of the Tenancy Agreement or Schedule of Condition and Inventory. It is important that you are aware of this fact when comparing our fee with other agents fees as their headline rate may be lower but often the extra charges they make increase the overall cost to much more than our inclusive fee. Please note that our management fee is inclusive of the services we provide. We do not charge an initial setting up fee nor do we charge separately for preparation of the Tenancy Agreement or Schedule of Condition and Inventory. It is important that you are aware of this fact when comparing our fee with other agents as their headline rate may be lower but often the extra charges they make increase the overall annual cost to greater than our inclusive fee. Please note that our management fee is inclusive of the services we provide. We do not charge an initial setting up fee nor do we charge separately for preparation of the Tenancy Agreement or Schedule of Condition and Inventory. It is important that you are aware of this fact when comparing our fee with other agents as their headline rate may be lower but often the extra charges they make increase the overall annual cost to greater than our inclusive fee.
Do I have to have full management?
We are pleased to offer a 'Let Only' service for a fee of £350 plus VAT for those landlords who feel able to manage their properties themselves but wish to ensure that their tenants are properly referenced and the tenancies arranged for them in a legal and professional manner. This service includes advertising, tenant vetting, preparation of a Tenancy Agreement, Schedule of Condition and Inventory and formal hand over of the property.
