
Useful Landlord Information
Our letting fee is payable only when we find a suitable tenant and they have taken access to the property.
The terms of business can be emailed to you to check you are happy to proceed.
We list our services and fees so that you can clearly see what is included, and can create a tailored quote if required.
If there are expenses such as compliance requirements or decoration, we may ask for payment for these services in advance.
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If the Rent has been received from the tenant, the rental payments will be forwarded on the rent due date.
To assist you, we provide on going monthly statements and can prepare an end of year statement at a cost of £50+VAT to show the income for the year as well as any deductions made.
As a prospective landlord you must be clear on the services provided by the agency and the charges for this which would be found in the terms of business.
Check with the mortgage provider and any other parties who have a share in the property that the property can be rented out, and if a Private Rented Tenancy Agreement is acceptable. If there is a mortgage on the property the provider may charge extra or not allow mortgaged properties to be rented out
Glasgow Property Letting shall provide accurate unbiased advice on the rental amount obtainable.
We are required to check the landlord’s identity and that authority has been obtained to let the property out.
Preferred method of Communication.
The landlord and agent must agree on what services and the level of services provided.
Fees charged.
Duration of the contract.
Indemnity insurance.
Inspect property for repairing standard purposes.
Specific instruction regarding the erecting of a letting board.
Check viewing instructions.
Authority to act and level of expenditure without authorisation.
Payment collection details and time scales.
Handling of client money
How the tenants deposit will be managed.
The function of The First Tier Tribunal
Check Tax implications.
We do ask that landlords have an idea of the regular out going expenses so that a rough income and expense chart can be made up, although these can vary from property to property the standard costs could be:
Agents fees.
Mortgage payments.
Factors fees.
External maintenance.
Building Insurance.
Contents insurance.
HMRC expenses if applicable.
Landlord registration.
Safety certificates and compliance costs.
Smoke detectors and heat sensor battery back ups.
Council tax & utilities for void periods including utility standard usage for void periods.
Warranties, such as cover for white goods.
Repairs and up keep of the property.
Redecoration of the property due to fair wear and tear.
Selling fees, depending on the terms of business.
Marketing fees should the tenant wish to discontinue with the lease.
Buffer as a contingency fund.
Fees should you wish to discontinue with the agency.
If we fail to live up to our reputation, we will void the landlord management fee for the next month.
We know one size does not fit all.
We have various services you can choose from and we provide a bespoke package, speak to us!
Choosing a letting agent
Remember that as a landlord you are responsible for adhering to a number of legal requirements so when deciding who to choose to look after your property, make sure it is an agent you feel you can trust. Landlords can be penalised for failing to comply with legislation, even if they have engaged an agent to fully manage their property.
There are a few factors to consider when choosing who to trust with one of your most valuable assets:
- Is the agent registered? In Scotland any person or company operating as a letting agent must be registered. If they are not on this site do not consider them at all as without registration any agent is operating illegally. Registered agents must hold professional indemnity insurance (to cover the cost of compensation for loss or damage caused by the letting agent) and client money protection insurance (to protect the money of landlords and tenants in case the owners of the letting agency steal or misuse it). Agents are required to provide clients with details of both insurance policies on request.
- Voluntary memberships/accreditations – whilst all agents must be registered, some will choose to join organisations that promote and recognise best practice like Landlord Accreditation Scotland, or that offer support and guidance to agents like the Scottish Association of Landlords.
- Location – an agent who is based nearby is likely to have a better knowledge of the local market and also be able to visit the property at short notice if problems arise.
- Recommendation – a positive referral from someone you know and trust is invaluable. Ask any landlord friends or contacts who they use to manage their properties.
- Check for letting agent enforcement orders – letting agents in Scotland have to adhere to the letting agent code of practice. If they breach this they can be issued with an enforcement order by the housing tribunal. You can search for previous decisions against agents here. Even the best letting agent can slip up occasionally and receive an order for a minor breach of the code but it may be a concern if an agent has received multiple orders against them for significant breaches.
- Type of property the agent specialises in – some agents will focus on particular areas of the market e.g. affordable housing, student HMOs or premium properties. Do they have expertise managing properties like yours?
- Commission – as with most things in life you get what you pay for to a certain extent. Expect to pay a percentage of the monthly rent as an ongoing management fee as well as a fee for setting up a tenancy. Some agents also charge extra for preparing inventories, carrying out inspections, overseeing renovations and renewing HMO licenses.
- Set-up – agents come in all shapes and sizes. Some will offer a one point of contact service where one member of staff is responsible for every aspect of the management and letting of your property. They will come to know you, your tenants and your property inside out. Others offer a departmental set up where different teams will deal with letting, rent collection, arranging repairs and overseeing move outs. Each team will have particular expertise in the area they cover.
- Staffing – how many people work at the agency? What proportion of them meet the training requirement that those in more senior roles must adhere to? A high staff turnover would be a concern - what is their average length of service?
- Terms of business – make sure you are provided with a written contract to sign and read the small print. This should make it clear how often will they do inspections, what their fee structure is and what the procedure is to end the contract if you decide to change agents, self manage or sell your property.
Marketing & Let Only
If the legal and compliance aspects of being a landlord are a concern, and you are satisfied you will be able to maintain your property and build a relationship with your tenants then this may be for you.
- We shall send and have the landlord sign terms of business, obtaining the landlord registration number and an Energy Performance Certificate (EPC) for the property.
- Provide a rental Valuation.
- Provide legal and health and safety information in accordance with current legislation.
- Advertise the property of the appropriate websites using a truthful and honest description of the property with photos to reflect this.
- Depending on the viewing arrangements in the terms of business the enquiries can be emailed to the landlord.
- Source a suitable tenant via enquiries.
- Verify tenant’s identification via photo ID and proof of address.
- Tenants would be referenced, for example landlord reference if applicable, employment references for status and income. Should the tenant not be employed a guarantor would need to be put in place.
- Prepare lease documents and arrange for documents to be signed.
- Collect advanced rental and deposit.
- Transfer utilities and council tax from landlord into tenant’s name, advising both to apply for any discounts applicable.
- Transfer payment due to landlord.
Full Management Service
You may be unable to devote the amount of time required to manage your property or portfolio effectively, but whatever your circumstances, we will ensure you are kept fully informed of your legal and compliance obligations, provide day-to-day management service and co-ordinate requirements with you. We will manage every aspect of your let.
All the steps in Marketing only and Let only, with additional steps
- Lodge deposit with appropriate custodial scheme.
- Receive ongoing rental payments.
- Conduct regular inspections.
- Comply with safety compliance, such as ensuring the property has interlinked smoke alarms, heat sensors, carbon monoxide alarm, arranging the annual gas safety inspection, Legionella Risk Assessment, the Portable Appliance Testing (PAT), Electrical Installation Conditioning Report (EICR).
- Arranging any repairs, maintenance or replacements to the property.
- Take appropriate action in the event of rent arrears or any other breach of the agreement.
- Arrange lease renewals, termination of lease agreement, advertising the property and re letting to new tenants.
Landlord Referral
We also offer incentives for referrals of new clients and landlords with multiple properties
Property Sourcing
Property investment advice, performance analysis, identifying suitable properties and expert knowledge of the sales & letting industry to help with all aspects of property purchasing.
Our industry contacts can also assist with additional services you may require such as mortgage advice and legal advice.