Any number. Whether you have just one or over fifty, we’ll manage each property with equal care and attention. However, to guarantee the best possible service to our clients, your personal assistant will be limited to a fixed number of properties managed overall.
Your personal property assistant will conduct the initial inspection, taking notes and photographs as well as looking around the local area. This should provide a good idea of what type of property it is and what condition it’s in. Thereafter we’ll provide a regular half-yearly inspection of the tenancy and further inspections in cases of eviction, renovation or emergencies.
We employ a qualified inventory clerk to provide a blueprint of the property. This is updated with every change of tenancy to provide an historic record of the property and its contents and further ensures that you are not paying for damages or repairs unnecessarily. Should any compensation be due to the landlord, the quotes for the work will be invoiced directly to the tenant and you’ll receive a copy. You’ll also receive photographs of the works before and after to aid decisions and provide reassurance that the work has been done to a good standard. This ensures quick turnaround periods between tenancies and minimises void periods. As an optional service that provides peace of mind, it can be provided at an extra cost, in accordance with the landlord’s wishes.
The most important aspect of property management is establishing a strong and thorough foundation regarding the running of the property, along with good communication between the landlord, tenant and managing agent. A proactive approach to management is key to a smooth running tenancy. We have a pool of contractors in each area of the country whom we trust to resolve maintenance issues swiftly and cost effectively. These would be our preferred contractors in order to ensure value for money and quality of work but we’ll be happy to work with any company or contractor the landlord requests. The same goes for letting agents. For any specialist requirements we will provide a selection of quotations and ask that the work is guaranteed and that the landlord is happy with the estimation before the work goes ahead. On completion of all major works and alterations we’ll check the property and provide the option of conducting a new inventory to reflect the changes.
During a letting period usually a minimum of two a week, though we’ll contact the letting agents daily for feedback and to maintain pressure. During the tenancy, we’ll contact you as soon as any problem occurs and explain how we intend to tackle it. If there is an issue of repair that requires payment we’ll provide you with full details. Regarding maintenance and day-to-day management, we’ll compile a diary of events and renewal prompts and forward it to you together with your monthly statement.
We can shop around to find you the best warranty deals on all your appliances. We’ll then consolidate them to minimise what you spend every year on repair bills. We will also thoroughly investigate any expenses on the property to identify: a) if they are necessary, b) how much they would cost and c) who is responsible for the cost, ie, whether it can be claimed under an insurance policy.
The great thing about rental guarantees is that they remove any financial pressure on the landlord in cases where the tenant stops paying rent. There are numerous rental guarantees available, so be sure to read the small print. Many schemes require the tenant to go through their own credit checks and there are various conditions attached to ensure the policy is valid. In some cases the guarantee will also cover you for malicious damage and repairs. PPM Ltd can source the best value for money guarantee on your behalf and organise the necessary credit checks in accordance with its rules.
Evictions can be a painful experience for any landlord. You must take action quickly and ensure that your managing agent knows the necessary procedures so that your tenant is not in a position to counter claim.
A series of notices must be served. Each notice gives landlords different rights over the property and the correct notice must be served each time in order for the courts to uphold the eviction.
It is important that certified letters are sent to the tenant, notifying them that rent has not been paid and explaining what action will be taken if they persist in not paying. You must also check that the agent is calling the tenant and inspecting the property at the earliest opportunity to ensure it’s not empty and that there is no malicious damage. A solution might also be reached by talking to the tenant and formulating a payment plan. Eviction procedures can take up to 4 months to process and it is wise to take out a rental guarantee for any loss of income during this period.
PPM Ltd has thorough and proactive eviction procedures that the PA follows to ensure action is taken swiftly with a minimum of stress and expense to the landlord. And if the eviction goes to court, we will represent you.
The cheapest deals don’t always offer the best value for money. PPM Ltd manages your property proactively and thoroughly, so you will often end up saving money. You’ll also enjoy greater control over the property, which will be managed in line with your priorities rather than than those of a letting agent.
Commission based fees can work out more expensive for higher yielding properties. It’s important to weigh up the level of service you pay for and check what individual services are included.
In particular, you should consider what responsibilities you have and how much time you wish to spend fulfilling your obligations.
• Are you instructing the marketing of your property early enough to minimise void periods and would you know what to do if the tenant withheld the rent due to job loss or maintenance issues?
• Is it better to market your property through a pool of letting agents to maximise your rent and minimise void periods?
• If so, are you prepared to collate all the management information to pass over to the new agent at the end of each term, cut keys for each agent, chase information and negotiate the tenancy terms?
• Will any of this information be lost in the transition period to a new agent and will you know the how it will approach the management of your property prior to taking their services?
• Would you benefit more from your property being run as a business or a maintenance service?
It could be that you are getting more value for money and greater benefits from a specialist agent.
Landlords will be legally required to show prospective tenants the Energy Performance Certificates EPC prior to letting the property. From the 1st October 2008, failure to do so may result in a £200 fine.
If we manage the property we’ll ensure it is compliant and source out the best value-for-money inspection that can provide a certificate. This certificate is valid for ten years.
From 6 April 2007 landlords or agents can only take a deposit from a tenant if that deposit is protected by a Tenancy deposit scheme. The landlord has 14 days to provide the tenant with information about the scheme safeguarding the deposit. At the end of a tenancy both landlord and tenant must agree on the amount of deposit to be returned. The scheme must then repay the agreed amount within 10 days of the agreement. PPM Ltd takes care of this for you.
Yes. Most mortgages have a clause preventing you letting out your property without the approval of the lender.
Yes. Your policy may become void if all the information is not disclosed. You will also need to advise your insurer whenever your property is empty. PPM Ltd will take care of this on your behalf. If you don’t have time to shop around for insurance, we’ll sort out the ground work with a number of brokers so that you can quickly choose the most suitable policy.
A signed agreement between you and your tenant is essential. It’s very difficult to prove any terms or agreements without one, especially if you want someone to vacate or pay arrears. If you don’t have a signed agreement a short-hold tenancy will be created. This means the tenant will have a fixed term of 6 months within which you cannot ask them to move out unless they break the terms of tenancy.
To ensure costs are kept low but are approached sensibly, PPM Ltd will agree a minimum contract of 12 months with a 6 months break-clause. The tenant’s earliest notice period will be 2 months at the 6-month stage. This means a minimum stay of 8 months. The break-clause serves to guard the landlord against tenants who stop paying rent due to loss of work or change of circumstances. The landlord can then terminate the tenancy at the break-clause stage in accordance with their wishes.
In some cases we can provide you with tenants through local councils, cutting out the costs of the letting agent and also guaranteeing your rent and any damages to the property.
If the initial fixed term has expired there’s no need to get another agreement signed unless you want to lock the tenant in for another fixed period. If another agreement is not signed the tenant then becomes a “statutory periodic tenant” meaning the rights and obligations of both landlord and tenant remain the same. However, PPM Ltd will approach the tenant two months before the end of the agreement to formulate a rent review and establish if they wish to renew their contract. In some cases, where you have a good tenant, it might be worth renewing the tenancy at the same rental price to serve as an incentive for them to stay and save you the cost of re-marketing the property. However, this should be discussed in more detail with your PA.
The tenancy agreement should state who is responsible for repairs and maintenance, however, PPM Ltd will facilitate this on the landlord’s behalf. Under section 11 of the Landlord and Tenant Act 1985 and other safety legislation such as the Defective Premises Act 1972 there are certain items for which the landlord is responsible:
Gas appliances and flues
These must be tested annually by a CORGI registered installer and a certificate issued to the tenant.
Heating and hot water systems
These must be checked annually.
Electricity
Both the system and any appliances should be safe.
Smoke Alarms
Hard-wired smoke alarms must be fitted.
Furniture and furnishings
These must meet fire safety standards.
Gas appliances should be serviced by a CORGI registered installer annually. PPM Ltd will check that this is sufficient to meet maintenance regulations for the appliance. PPM Ltd will always use a CORGI installer and follow his instructions. A safety check on all gas appliances must be carried out within one year before any new lease starts. You must provide a copy of each safety check to your tenant within 28 days of completion and to a new tenant prior to them moving in.
You are responsible for any portable or fixed gas appliance in the property unless owned by the tenant. PPM Ltd will facilitate these checks for all appliances although there is no standard for electrical items as there is with gas regulations. However, the landlord may be liable for compensation should a tenant be injured by an appliance. This eventuality is covered by Landlords Indemnity Insurance or by conducting a PAT test on portable appliances.
The safety check record will list any defects and the appropriate action required. You must rectify any defect before it is used again. In the case of a gas appliance, this must be done by a CORGI registered installer. PPM Ltd will facilitate this on behalf of the landlord.
You can be prosecuted, which could result in a fine or even imprisonment. There is also the very real risk that your lack of maintenance could result in a death. However, PPM Ltd will let you know in good time when the checks are due for renewal and will facilitate this according to your wishes. Should you not wish us to carry out the inspections, you will be solely responsible for all resulting consequences.
An owner-ccupier or tenant over the age of 18 is usually responsible for paying council tax. However, all too often we see these bills being sent to the property in the name of the owner which leads to disputes over who is liable. We will take the necessary steps on your behalf to ensure you only pay for what you legally owe. This service extends to any disputed utility bills or other costs incurred by the tenant.
If you own the TV then you are responsible for the licence. If the tenant owns the TV then they should obtain the licence.
You cannot increase the rent during an Assured Shorthold Tenancy. If it is an assured tenancy then you can increase the rent but must follow a legal procedure which requires you to serve a notice to the tenant allowing them the chance to object. If you’re unable to agree then the rent assessment tribunal will inspect the property and make a binding decision.
Your tenant is a licensee; this means they do not have security of tenure. If you want them to move out you’ll still need to give them reasonable notice (usually 4 weeks).
You must declare all income from rental properties within the UK and abroad or face severe penalties. We’ll help you complete your tax return.
If the tenant just walks away you can sue them for the rent owing . Speak to your tenant(s) and ask them to come to an agreement for payment. They could pay the rent until a suitable replacement is located (you can ask the existing tenant to cover the cost of locating their replacement) or you could decide on a cash settlement for some of the rent remaining. However, PPM Ltd will manage anything relating to tenant evictions or debt collection on your behalf
