Letting with Preferential Properties

Ideal for the ‘hands-on’ landlord who wants the security of letting their property to professionally referenced and credit checked tenants but who is thereafter happy to deal with all the day-to-day letting activities including collecting the rent, responding to emergency repair requests and answering general enquiries, once the tenancy begins. The landlord will also be responsible for carrying out the “Move Out” inspection as well as dealing with any dilapidations.

The service includes meeting with you at your property, providing a rental valuation and offering advice and guidance as required (this service is provided free of charge and with no obligation to engage Preferential Properties Ltd as your agent).

When you decide to proceed, we will:

1. Provide specialist advice on the various landlord and safety regulations.
2. Select tenants, carry out key-accompanied viewings, take a holding deposit, obtain comprehensive references and deal with any negotiations.
3. We will often have suitable waiting tenants but where this is not the case we will advertise the property, as necessary, including uploading full details of your property (with photos) to this website. We will also, with your permission, erect a To Let board outside your property to raise awareness and generate interest.
4. Prepare and execute a suitable tenancy agreement in accordance with current legislation.
5. Check the tenant in to the property
6. Record all meter readings and carry out the transfer of council tax and utility service accounts.
7. Collect and hold as stakeholder with the Tenancy Deposit Scheme (if required) the security deposit and pass on the first month’s rental fee (after deduction of our fees).
8. Set up a standing order with tenants chosen bank account to facilitate the on-going collection of rental payments by you, the landlord.
9. Contact you at the end of the initial tenancy period to ascertain your requirements in respect of the on-going renewal of the tenancy.

This is an intermediate service designed for landlords who are able and prepared to undertake their own property management. This Service includes all aspects of our Tenant Introduction Service but also gives you the peace of mind that your monthly rent is being collected in a professional manner.

In addition to the service outlined within our Tenant Introduction Service we will:

1. Collect on-going rental payments and pay the balance due directly into your designated bank account on a monthly basis.
2. Provide financial statements on a monthly basis.

Perfect for landlords who would prefer to leave all letting matters in our capable hands and includes, meeting with you at your property, providing a rental valuation and offering advice and guidance as required (this service is provided free of charge and with no obligation to engage Preferential Properties Ltd as your agent).

In addition to the service outlined within our Tenant Introduction Service we will:

1. Ensure compliance with the various landlord and safety regulations.
2. Collect and hold, as stakeholders, a security deposit.
3. Collect on-going rental payments and pay the balance due directly into your designated bank account on a monthly basis.
4. Provide financial statements on a monthly basis.
5. Visit the property periodically to ensure compliance with the terms of the tenancy agreement and provide a written report.
6. Arrange any repairs, maintenance or replacements to the property or contents, (within an agreed limit), and seek your authority before taking action* if repairs, maintenance or replacement charges exceed this limit (*except in the case of genuine emergency or being unable to contact you within a reasonable timescale).
7. Deal with any necessary insurance claims.
8. Take appropriate initial action in the event of rent arrears or any other breach of condition of the agreement in an effort to remedy the situation.
9. Liaise with the tenant on a routine basis, arranging renewals of the agreement or check-outs (checking the inventory and schedule of condition and deducting relevant charges for repair or replacement from the tenant’s security deposit).
10. Advise on any general repair, maintenance or cleaning services required in order to maintain the property standard.

The law with regard to renting property is constantly being updated and modified, particularly in the field of safety requirements. Non-compliance can carry heavy penalties for the uninformed landlord. We can also advise landlords on the recent legislation covering Residential Tenancy Deposit Schemes, Energy Performance Certificates, Gas safety Checks as well as Electrical Inspections.

Landlord Services & Charges

Let Only Service
Tenant Find & Introduction – 50% + VAT of the first month’s rent

Rent Collection Service
Rent Collection – 7% + VAT of the monthly rent

Fully Managed Service
Full Management – 12% + VAT of the monthly rent

Additional Services
Check-Out Administration – £100 + VAT

Additional services outside the scope of the agreed service level may be available by separate agreement and will incur separately negotiated charges. Details of any applicable charges will be confirmed and agreed in writing prior to instruction.

Important Information
All fees are subject to VAT where applicable.
Any third-party contractor, compliance, inventory, legal or disbursement costs incurred on behalf of the landlord will be payable separately where applicable.
Full details of services and charges will be confirmed within the landlord Terms of Business prior to commencement of instruction.