Lockett Estates deliver a professional service and are ARLA (Association of Residential Letting Agents) members. The lettings staff are ARLA trained, providing landlords with the knowledge that they are working with a reputable, accredited and professional Agent.
We promise to:
• Provide our landlords with detailed tenant references
• Have comprehensive Tenancy Agreements
• Have Deposit Protection Schemes
• Accompany prospective tenants on all viewings
As a landlord, you need to make sure that your property is in a presentable condition and maintain the condition throughout viewings. First impressions are everything, it gives you the finest chance of letting out your property and for the best price.
TENANT FEE BAN – 1st JUNE 2019:
Parliament has passed a law stating that any additional fees usually paid by tenant’s have been made illegal as of 1st of June 2019.The cost will include; inventory/check-in/check-out costs, referencing fees and administration fees. As a result, these fees will now be paid by the Landlord.
One Bedroom Properties - £210 incl. VAT
Two/Three Bedroom Properties - £300 incl. VAT
Four Bedroom Plus Properties - £360 incl. VAT
Tenant reference checks are charged at £27.60 per reference application. This fee also applies to each tenant guarantor. The above-mentioned fees are required from the Landlord upon receipt of the holding fee from the tenant, which secures the property. Once we have received both the holding fee, administration fee and referencing fee(s), we can then begin processing the application.
LETTING AND MANAGEMENT FEES:
Letting fees 9.6% incl. VAT (8% + VAT)
For securing a tenant and setting up a rental package
Management fees 6% incl. VAT (5% + VAT)
This is the fee for collecting you rent, organising works which is charged additionally to the letting fee if you wish us to fully manage your property.
RENEWAL AND ADMISTRATION FEES:
The initial Let fee is 8% + VAT for the first year. The second and third-year renewal fees will then be invoiced at 7% + VAT and 6% + VAT, should the same tenant that remain at the property during this period. If the same tenant decides to stay beyond this three-year period and the Landlord instructs Lockett Estates to renegotiate the rent and prepare the renewal documentation, the administration fee is £225 incl. VAT
CHECK IN AND CHECK OUT INVENTORY FEES:
This is the responsibility of the Landlord and prices vary from company to company. Prices are available upon request.
DURING YOUR TENANCY:
Tenancy Assignment Fee £50.00 incl. VAT
This is an administration fee for a change of tenant during an active tenancy.
Things you need to think of before you let your property:
• Does the outside look nice? This is what the potential tenants will see first, so make sure you repair the crack in the wall, give the window frames or the door that fresh bit of paint you’ve been meaning to give them. Can you see the house number from the street? If not, it’s time to buy bigger numbers.
• De-clutter – this is the most important thing. If you have too much furniture, it would be worth organising a storage unit to place all the extra bits during the tenancy. Make the place look as big as you can.
• Again, fix any cracks, holes in the interior walls that need repairing, leaky taps etc.
• Unpleasant odours will need to be addressed. Pet smells and cigarette smoke can be very off-putting to tenants (good tip – if you do smoke, place bowls of white vinegar around the property for a few days. Whilst the vinegar will smell, when you open the windows and ventilate the property, the vinegar smell will go quickly taking the cigarette smell with it).
• Decorate the rooms if needed – a fresh coat of paint works wonders to brighten up a tired looking room.
• Is the property free of any serious problems like subsidence? If it isn’t you will not be able to let out the property until this has been corrected.
• You need to have a think about how you would like the property to be described in the adverts. For example, will it be three bedrooms with a study or will it be four bedrooms?
• Will you be living there as well as the tenants or will you have somewhere else to go, nearby or abroad.
• What will be included in the rental price? Will council tax and utility bills be included or separate?
Follow these steps and you’ll have the perfect property to rent and here at Lockett Estates, we will be able to do the rest for you. Please feel free to contact the branch if you have any further questions.