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.
- 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 make sure that we live up to our reputation, we will manage the next month free of charge.
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!
We are here to help you.
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.
We also offer incentives for referrals of new clients and landlords with multiple properties
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.