Landlord Process

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.

Standard lettings fees

 Managed:

Set up fee of 60% of one months rent inclusive of VAT (50% +VAT)

Monthy management fee 14.4% of one months rent inclusive of VAT (12%+VAT)

 Let only service:

96% of one months rent inclusive of VAT (80% + VAT)

Rent protection and legal costs cover

2.4% of one months rent inclusive of VAT (2% + VAT) on top of monthly management fee to include rent protection and legal costs cover for rents over £1500pcm.

For monthly rents below £1500pcm the cost for this service is £42 inclusive of VAT (£35 + VAT) per month.

Gas safety certificate:

£96 inclusive of VAT (£80+ VAT)

Legionella check:

£96 inclusive of VAT (£80 +VAT)

Combined legionella and gas safety:

£186 inclusive of VAT (£155+VAT)

Boiler service:

£144 inclusive of VAT (£120 +VAT)

Combined Boiler service and gas safety:

£228 inclusive of VAT (£190 + VAT)

EICR (Electrical inspection and condition Report

£228 inclusive of VAT (£190+VAT)

Serving a section notice i.e (no fault notice)

£180 inclusive of VAT (£150+VAT)

Existing Contract renewal

£90 inclusive of VAT (£75+VAT)

 EPC

£96 inclusive of VAT (£96+VAT)

Inventories

 Furnished

1 bed or studio: £174 inclusive of VAT (£145+VAT)

2 bed: £192 inclusive of VAT (£160+VAT)

3 bed: £216 inclusive of VAT (£180+VAT)

4 bed: £252 inclusive of VAT (£210+VAT)

5 bed: £300 inclusive of VAT (£250 + VAT)

 Unfurnished

1 bed or studio: £150 inclusive of VAT (£125+VAT)

2 bed: £168 inclusive of VAT (£140)

3 bed: £192 inclusive of VAT (£160+VAT)

4 bed: £234 inclusive of VAT (£190+VAT)

5 bed: £276 inclusive of VAT (£230 + VAT)

Edwards & Co vigorously market all our available stock across a wide variety of mediums. We subscribe to Rightmove and 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.

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.

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.

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. If they have rented properties in the past, we will ask their landlords or letting agent to provide us with a reference. This information is provided by a variety of sources including credit reference agencies like Experian or Equifax 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.

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.

If an inventory will then be arranged and meter readings will be taken, They will also check that the property is fit for human habitation and raise any concerns. 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 offices. 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 and due to the audit trail, the conditions recorded on the inventory will stand for the end of tenancy.