We provide a comprehensive and customer focused level of service offering advice on the market rent, property presentation and Landlord's obligations. Priory Park Properties offer a range of property services from simply finding a suitable tenant, collecting the rent through to a comprehensive full management service.
WE OFFER THE FOLLOWING RANGE OF SERVICES:-
1. TENANCY ONLY SERVICE
For the client who wishes to collect the rent direct from the tenant and oversee full management of the tenancy we will:-
* Inspect your property and advise upon the potential rental value, furnishings and other related matters
* Produce property details for advertising on Zoopla, Prime Location, On The Market and our office window display and inclusion in our weekly property list which is circulated to prospective tenants on our register
* Erect a ‘To Let’ Board
* Arrange viewings and accompany prospective tenants to your property when appropriate
* Provide feedback following viewings
* Negotiate offers and agree terms for the tenancy agreement
* Take up comprehensive references and where necessary obtain guarantors
* Arrange an independent inventory if required
* Prepare the Tenancy Agreement to satisfy current legislation
Draw up a banker’s standing order mandate if required and forward to the bank
* Collect the first month’s rent and a deposit equivalent to six weeks rent and all other associated charges prior to the commencement of the tenancy
* Produce a statement of account and send by post or email
* Arrange for the check in with the landlord or inventory clerk and for the keys to be handed over to the tenant
* Registered the deposit with the Deposit Protection Scheme
* Keep your details on file so that we can immediately re-market should your tenant give notices (thus reducing the chance of void periods).
* Contact you and the tenant at the appropriate time to see if either party wants to renew and
Negotiate accordingly
* Advise you of any opportunity for rental increases
* Remind you to renew your annual gas safety certificate
* Arrange an Energy Performance Certificate if required
* Prepare renewal documentation if required.
2. RENT COLLECTION SERVICE
An intermediary level of service for the client who wishes to oversee full management of the tenancy but does not wish to become involved in collecting the rent. In addition to our Tenancy Only Service as outlined above, we will:-
* Collect the rent monthly during the tenancy
* Credit the net amount to the landlord’s bank or remit direct to the landlord on a monthly basis
* Advise all transactions on a monthly statement
* Negotiate an extension of the tenancy, if desired, or arrange for the termination thereof
3. FULL MANAGEMENT SERVICE
For the client who does not wish to have any contact with the tenant other than through the Agent. In addition to the former two services we will:-
* Deal with any problems and queries raised by tenants
* Undertake necessary arrangements for transferring the utility service accounts (gas, electricity, water and telephone) and the registration of Council Tax with the local authority
* Arrange payment of insurances, service agreements, repairs, ground rents, service charges, etc. where requested
* Monitor and maintain the property. Carry out routine repairs up to a value of £200 normally without referral to the landlord. All major repairs or work would be subject to the landlord’s approval, unless the repair has to be dealt with on an emergency basis
* Carry out quarterly property inspections and report to the landlord. Landlords should be aware that there will be, inevitably, a certain amount of wear and tear on a property during a tenancy which should be accepted
* Send a detailed Statement of Account to the landlord monthly, clearly showing all rents received, property outgoings paid and the balance due to the landlord. The balance will either be sent direct to the landlord or to his/her bank or building society account monthly
* If required issue a Section 21 notice for possession.
* Arrange the annual gas safety certificate
* If required issue a Section 21 Notice for Possession.
Terms of Appointment
Our appointment is for the agreed period of the letting as specified in the Tenancy Agreement. Thereafter it is subject to three month’s notice to terminate on either side. If this service is terminated the fees will revert to the fees as charged for a Tenancy Only Service
GENERAL INFORMATION
DEPOSITS
The deposit (5 week’s rent) will be paid to Priory Park Properties who will lodge the Deposit with the Deposit Protection Service (DPS) within thirty days of the commencement of the Tenancy. The deposit is paid as security against damage, breakages, outstanding accounts or other liabilities as assessed at the end of the tenancy. Where a professional inventory specialist is appointed, the inventory clerk will carry out inventory checks at the beginning and end of each tenancy.
At the termination, the inventory clerk will prepare a check-out report for use when assessing any deductions to be made from the security deposit. The Landlord or Agent must notify the Tenant in writing of any deductions to be made, specifying the amounts to be deducted and the reasons for any deductions to be made. No deduction will be made from the Deposit without the written consent of both parties. The Landlord or Agent and the Tenant will inform the DPS within 10 days of the end of the Tenancy of how the Deposit or any balance of it is to be repaid to one or other party; or if there is a dispute the procedure the parties intend to use to resolve the dispute.
The terms and conditions and Alternative Dispute Resolution Rules governing the protection of the Deposit including the repayment process can be found on the website www.depositprotection.com
INVENTORY
This is a detailed list of everything you intend to leave in your property and should include a description of the condition of each item and the condition in which the property has been left. This list can either be compiled by the landlord or by an Inventory Agent. If the inventory is compiled by the landlord, you would normally accept responsibility for checking in the tenant and checking out the tenant at the end of the tenancy.
It is strongly recommended, however, that a landlord uses the service of a professional Inventory Specialist to compile the Inventory. This would state very clearly the original condition of the property and its contents, thus making an accurate assessment of dilapidations at the end of the tenancy easier than if a home-made inventory is used. The inventory will be agreed with the tenant at the commencement of the letting, and at the end of the tenancy the inventory will again be checked and any dilapidations resolved before the tenant’s deposit is returned.
The check-in fee will be borne by the tenant and the check-out by the landlord. The fee for preparing the Inventory (which can be used for subsequent lets) depends upon the size of the property and will be paid by the landlord, usually deducted from the first month’s rental. We are happy to arrange, on the landlord’s behalf, the Inventory service through our independent Inventory Specialist on the basis that the landlord has responsibility for the above-mentioned charges and accepts that we cannot be held liable for any error or omission on their part.
A check out report will be carried out at the end of the tenancy at your cost. This report will determine whether there is any damage or compensation necessary for breach of the tenancy (e.g. cleaning or repairs). A copy of the check our report will be sent to you and the tenant. We cannot accept any liability for errors or omissions on the part of the inventory clerk unless it is due to our negligence or breach of contract.
UTILITY SERVICES
Telephone, gas, water and electricity accounts must be transferred into the name of the tenant at the commencement of the letting. Payment of these accounts for the period of the tenancy will be the responsibility of the tenant as will the Council Tax. The television licence is also the tenant’s responsibility. Landlords wishing to reoccupy their property after a letting has ceased should apply for the telephone service to be maintained as this will avoid a reconnection charge.
INSURANCE
Landlords are responsible for the building insurance and their contents, with tenants being responsible for their own possessions. Where an existing building insurance policy is in force, we recommend you notify your insurance company that the property is to be let as this may affect your cover. You should ensure that the insurance includes protection for public liability. There is a small risk that a defect in a property could cause injury to a third party for which a landlord could become liable.
REPAIRS AND MAINTENANCE
It is the Landlord’s responsibility to maintain the property in good order throughout the period of the letting. On a Full Management basis, we shall deal with day to day management matters including maintenance and repairs. We will arrange for minor repairs up to a maximum of £200 to be dealt with immediately without prior permission from the owner (unless specifically requested). Except in an emergency and wherever practical, estimates are obtained and submitted to you for approval in respect of works of redecoration, renewal or repair likely to cost more than £200. Our management will include investigation of defects which come to our notice or are clearly and adequately brought to our attention by the tenant. Property inspections will be carried out periodically and a report will subsequently be submitted to you for your information.
Section 11 to 16 of the Landlord and Tenant Act 1985 state that you must:
(a) keep the structure (including the drains, gutters and down pipes) and the exterior of
The property in good order and repair;
(b) Keep the appliances for supply of gas, electricity and water in good repair;
© keep the appliances for supply of space heating and water heating in repair; and
(d) keep the sanitary appliances in repair;
(e) carry out all repairs within a reasonable time of being notified.
RENTAL PAYMENTS
Landlord’s selecting our Rent Collection or Full Management Service can expect to receive the net rental within 7 days after the rental date. Payment is normally credited to the Landlord’s nominated bank or building society account, or, if preferred, a cheque can be sent to the Landlord direct. An itemised statement is issued to the Landlord at the same time as the rent is paid out by us. Landlords using our Tenancy Only service will receive a payment representing the balance of the first month’s rental (i.e. after
deduction of commission and any agreed expenses) usually within 7 days of the commencement date of the tenancy together with a Statement of Account. Thereafter, the rent is usually paid by standing order direct into the Landlord’s account.
REDIRECTION OF MAIL
Arrangements should be made with the Post Office for redirection of mail. Any mail passed to Priory Park Properties by the tenant will be redirected but we cannot be responsible for mail that goes astray.
MORTGAGE CONSENT
Where the property is subject to a mortgage, you will need to obtain the mortgage lender’s consent to the letting before you enter into an agreement. Most Building Societies levy a nominal charge to cover their administration costs or increase the percentage of interest charged on the mortgage in giving permission. If the property is leasehold you must make certain that the intended letting is permitted by your lease. You should also check that the letting is for a period expiring prior to the termination of your lease and that your landlord’s written permission has been obtained for the sub letting.
TAXATION
You will be liable for tax on rental income and you must inform the Inland Revenue that you are letting the property. There are a number of allowances that you can claim against rental income. For more information go to the Inland Revenue website (www.hmrc.gov.uk). You must keep all invoices for six years for tax purposes.
INCOME TAX (APPLIES TO OVERSEAS LANDLORDS ONLY)
Under the NRL (non-resident landlords) scheme, the Agent (or where there is no Agent, the tenant) is required to deduct tax at the current tax rate from the rental income unless written notification to the contrary is received from the Inland Revenue. The tax deducted will be paid to the Inland Revenue every quarter after taking deductible expenses paid out by us into account. Non-resident landlords or their agents can apply to the Inland Revenue office in Bootle for approval to receive their rental income with no tax deducted. If this application is successful, the Inland Revenue will issue a certificate and the Agent will not be required to deduct tax. Where a property is jointly owned each landlord must apply separately.
To apply to the Inland Revenue for approval to receive rental income with no tax deducted, please enquire at our office for the appropriate application form. This should be completed by the landlord and sent to the Inland Revenue office in Bootle immediately as exemption certificates cannot be backdated. An annual tax return with information concerning each non-resident landlord must be completed by the Agent each year and filed with the Inland Revenue and we charge the landlord £50 per annum to cover the administration costs involved.
LEGAL DOCUMENTATION
We prepare a Tenancy Agreement suitable to the type of tenancy which satisfies current legislation for a fee of £80. A draft copy of the Agreement can be made available to the Landlord for his perusal upon request . We will ensure that the tenancy agreement is signed by both parties prior to the tenancy commencing.
KEYS
A full set of keys should be made available to us for retention at our office and further sets should be provided for the tenant/s. We can arrange for extra sets of keys to be cut if necessary.
THE FIRE & FURNISHINGS (FIRE) (SAFETY) (AMENDMENT) REGULATIONS 1993
Under the provisions of this legislation it is a criminal offence to let a property which does not comply with the fire resistance requirements. The Regulations apply to all upholstery and upholstered furnishings, loose fittings, permanent or loose covers within the property The regulations apply to the following which must be match resistant, cigarette resistant and carry a permanent label:-
Carpets, curtains and duvets are excluded. The Regulations do not apply to antiques or furnishings manufactured before 1950.
Landlords must check all their furniture for labels to ensure the furniture complies with the regulations. As a guideline, any furniture or furnishings purchased after 1st March 1990 probably comply but Landlords
should still check for the appropriate labels or, if possible, contact the manufacturer or retailer from whom they were purchased. A fine and/or imprisonment can result if these regulations are not complied with.
Landlords must remove or replace any furniture which does not comply with the regulations before it can be let. As Agents, we will not accept any property on our books for letting where the landlord has not checked the fire resistance of the furnishings within the property.
GAS SAFETY (INSTALLATION AND USE) REGULATIONS 1998
The regulations state that gas appliances, installation pipework and flues in rented accommodation must be checked for safety annually. In accordance with these regulations, the Landlord must ensure that a gas safety check is carried out on all gas appliances and gas installations in the property annually by a Gas Safe registered engineer. If any defects are found during the check, they must be remedied immediately. It is a legal requirement to keep a record of the dates of inspection, defects identified and remedial action taken. Failure to do so is a criminal offence. We will therefore require from the Landlord a current gas safety certificate before the property may be let. Landlords or we, as your Agent, must give a copy of the gas certificate to the tenant/s within 28 days of the check.
As Managing Agents we will automatically arrange for the gas safety check to be carried out annually but Landlords instructing us on a Tenancy Only or Rent Collection basis are responsible for arranging the safety check prior to the tenancy and annually thereafter. If Priory Park Properties are asked to assist in any way, we will gladly do so. British Gas can give your system a full inspection and issue a Gas Safety Certificate. A leaflet providing further information on the Gas Safety Regulations can be made available to you upon request
THE ELECTRICAL EQUIPMENT (SAFETY) REGULATIONS 1994
The Regulations require that the electrics in rented accommodation is safe to avoid risk of injury to people, domestic animals or damage to property. It is recommended to Landlords that they arrange for a safety check to be carried out on the electrical installation and appliances before the property is let (i.e. the mains wiring, sockets and lighting and all electrical appliances). Again, we will happily assist and supply landlords with further information if required.
For all properties from April 2021 all properties must have an Electrical Condition Report. For all new tenancies a report must be handed to the tenant prior to moving into the property. An electrical installation condition report (EICR) also known as a Periodic Inspection Check is carried out to ensure the property is electrically safe for tenants. It helps to identify the following:
ENERGY PERFORMANCE CERTIFICATES
It is now a legal requirement for all properties to have an Energy Performance Certificate (EPC) that is no more than 10 years old for every occasion they are rented.
A certificate detailing its energy performance compared with reference values must be made available for each self-contained accommodation unit. The certificate must be accompanied by recommendations of cost-effective measures to improve its performance, and is intended to ensure the consideration of energy efficiency can play a proper part in the decision to rent the property. In addition to information on the energy efficiency of the property, the certificate will contain information to the tenant about the typical running costs for standard occupancy. Information will also be included about potential cost effective energy improvements and about further measures which may reduce energy use and carbon dioxide emissions including those which are not currently cost effective. There is currently no legal obligation on the landlord to make the improvements suggested.
The Energy Performance Certificate is broadly similar to the certificates found on many domestic appliances with an energy rating from A to G (A signifying the highest efficiency rating). Each EPC will have a unique serial number and be produced by energy assessors and home inspectors authorised and accredited by the Government.
It is illegal to advertise a property to rent unless it has an EPC. As soon as a property is in the process of being offered to let, it is the responsibility of the prospective landlord to make available an EPC to prospective tenants. The Landlord is responsible for ensuring there is an EPC for the property being let even if an agent is acting on their behalf. The landlord should therefore ensure any agents acting on their behalf are complying with the Regulations. As enforcement officers can request a copy of an EPC from a
landlord and/or agent at any time up to six months after it was required, it would be prudent for landlords to retain their reference number so that a copy of an EPC can be requested from the register if required.
The legislation provides for a fine of up to £200 for failure to comply.
SMOKE ALARMS AND CARBON MONOXIDE DETECTORS
From 1st October 2015 landlords of all rental properties will be required to install at least one smoke alarm on each storey of a rental property that is used as living accommodation. These alarms may be battery powered or hardwired. In addition a carbon monoxide detector should be installed in any room that contains a solid fuel appliance which includes coal or wood burning fires and wood burning stoves. At the start of each tenancy a test should be carried out to ensure smoke and carbon monoxide alarms are in working order.
Legionella
Legionnaires’ is a pneumonia-like disease commonly caused by the inhalation of small droplets of contaminated water. Landlords must assess and control the risk of exposure of tenants to legionella to ensure the safety of their tenants, but this does not require an in-depth detailed assessment.
Control measures can include:
Flushing out the water system before letting the property. Ensure cold water tanks have a tight lid to stop debris getting into the system. Setting control parameters to ensure water is stored at the correct temperature. Remove any unused pipework
NB: The hot water should be set so that the water is heated up to 60°C. Tenants should be advised to not interfere with the settings on the boiler or hot water system.
FURTHER NOTES
To minimise problems and to ensure a smooth running tenancy, as far as possible, we would recommend the following:-
* Landlords should leave their property clean before tenants move in as this will set a good standard to the tenants, encouraging them to maintain and return it in a clean and satisfactory condition. However, please appreciate that a property cannot be expected to be in the same condition at the end of a letting as it was at the beginning. Landlords should remember that their property is subject to “fair wear and tear” and allowances should be made for this at the end of the tenancy when assessing dilapidations. Landlords are also reminded that they are given an annual wear and tear allowance for tax purposes
* Operating Instructions for appliances and a general information sheet should be left at the property for the tenants, itemising any special features or systems which the tenants will need to operate. In addition, details of guarantees and service contracts should be made available
* We strongly urge landlords, if possible, to take out service and maintenance agreements as it is the landlord’s responsibility to ensure that all equipment left in a property for the use of the tenant will require to be maintained, serviced and repaired.
* Before leaving your property remember to arrange final accounts for gas, electricity, water and telephone and forwarding of your mail and inform your local council authority of the date you are leaving.
* Please ensure that all appliances are in sound working order before your property is let as this will minimise any initial “teething problems” at the beginning of a tenancy. This especially applies to central heating systems, washing machines, vacuum cleaners, etc
FEES:-
FULLY MANAGED SERVICE. 12.5%
RENT COLLECTION 11%
TENANT FIND. 10%
FULLY MANAGED AND RENT COLLECTION INCLUDE RENT PROTECTION INSURANCE