Letting Fees

Thank you for choosing Guide Estates to market your property for rental. There are some things you need to know about the rental process which can be found in this leaflet, if you have any questions about any of the information below, please do not hesitate to give us a call.

Rental services

There are two types of rental services we offer, each of which can be tailored to your needs:

Fully Managed
What’s included?

  • Free Market Appraisal by Local Property Guide
  • Professional Photos & Description
  • Creation of High Quality advert for Guide Estates Window Display
  • Advert listed on Zoopla, Prime Location & Guide Estates website available to thousands of
  • potential tenants
  • T o Let board placed at property
  • Viewings conducted by Local Property Guide
  • Comprehensive tenant referencing
  • Legally binding tenancy agreement
  • Tenant’s deposit protected via DPS
  • Energy Performance Certificate (EPC)*
  • Gas Safety Certificate*
  • Professional Inventory
  • Monthly rental collection
  • Monthly Statements
  • Quarterly property visits
  • Property maintenance
  • Rent arrears and debt recovery assistance
  • Tenant check out service

Tenant Find
What’s included?

  • Free Market Appraisal by Local Property Guide
  • Professional Photos & Description
  • Creation of High Quality advert for Guide Estates Window Display
  • Advert listed on Zoopla, Prime Location & Guide Estates website available to thousands of
  • potential tenants
  • To Let board placed at property
  • Viewings conducted by Local Property Guide
  • Comprehensive tenant referencing
  • Legally binding tenancy agreement
  • Tenant’s deposit protected via DPS
  • Energy Performance Certificate (EPC)*
  • Gas Safety Certificate*
  • Professional Inventory*

*Extra chargeable items

*Extra chargeable items

Fees

The Tenant Find Service ends when the Tenant(s) we have introduced takes up occupation of the property. Our fees are due and payable upon the commencement of the Tenancy and are not refundable. All obligations for the subsequent management of the Tenancy after occupation begins will be the responsibility of the Landlord. The obligation to arrange the inventory check out (should you require one) will also be the responsibility of the Landlord. Guide Estates can arrange for the Landlord subject to the appropriate fee being paid.

The Property Management Service may only be ended by either you or us giving the other three months’ written notice or in any case when the tenant(s) end their occupation of the property. In the event that you terminate the Property Management Service, from the date of termination you agree to pay the specific tenant find fee minus any fees paid in respect of the Full Management Service.

*The Property Management Service is subject to a £250.00 set up fee, which includes agreeing the market rent and finding a tenant in accordance with the landlord’s guidelines, fully comprehensive inventory and schedule of condition, tenant check in and agency administration costs.

Marketing

Once we have been formally instructed and a service basis agreed, the following tools will be implemented to find you a suitable tenant:

  • Full colour details of your property will be available for applicants to view.
  • Your property will be placed on various online Portals.
  • A To Let board will be placed outside of your property to attract passers by.
  • Calls will be made to applicants that we think will be suitable for your property.Sole Agency
  • The Landlord agrees to appoint us as Sole Agents from the date of our instruction, and thereafter until terminated by either party giving 2 weeks’ written notice.
  • While we are the sole agent of the property the landlord will be liable to pay remuneration to us, in addition to any other costs or charges, as agreed, if at any time unconditional contracts for the letting of the property are executed:
  • With a tenant introduced by us during the period of sole agency;
  • With a tenant with whom we have held negotiations during the period of sole agency;
  • With a tenant introduced by another agent during the period of sole agency.

Safety Regulations

As a Landlord you must comply with the following:

Gas Safety (Installation and use) Regulations 1994:

  • An annual gas safety inspection must be carried out each year by a fully qualified registered engineer before any tenant takes occupation.
  • A copy of this certificate must be handed to the tenant before commencement of the tenancy.

Electrical Equipment (Safety) Regulations 1994:

  • You must ensure that all electrical equipment is safe and will not cause danger.
  • It is advisable to carry out Portable Appliance Tests (PAT) at the start of each tenancy.
  • Furniture and Furnishing (Fire) (Safety) Regulations 1988:
  • All furniture purchased in the UK after March 1990 will comply with these regulations.
  • All furniture should carry the appropriate safety labels and should not be removed from the furniture.

Energy Performance Certificate (EPC):

– As of 1st October 2008 all properties for sale or rental must have a valid Energy Performance certificate from the point that viewings start to take place.
– A copy of the certificate must be made available to Tenants at viewings, if asked or at the latest on commencement of the Tenancy.

We recommend fire and smoke alarms are installed in each property.

If your property is suitable for sharers, please also check with your local Council as to whether you will require a HMO licence. If you require a HMO licence, please provide a copy within 7 working days.

Consents for Letting

  • If you have a mortgage or other secured loan on the property, you must obtain permission from your lender before commencement of the tenancy.
  • If the rental property is leasehold, you must obtain permission from the freeholder or managing agents to rent the property out.
  • You must have buildings insurance on the property and preferably landlord’s buildings and contents insurance. You must inform your insurance company you will be renting out the property.
  • If the property is jointly owned, we must have permission from any joint owners and they should be named on the tenancy agreement.

Referencing

For your peace of mind we reference all tenants before any let is agreed. We use a very efficient referencing company called Homelet, who carry out the following reference checks on all tenants; full credit referencing and credit history, employment and current landlord references.

Tenancy Agreement

We will ensure the Tenancy Agreement is prepared in accordance with the Housing Act 1988.

The Tenancy Agreement details your responsibility as a landlord and the tenant’s responsibilities whilst in the property. We recommend you read the tenancy agreement prior to commencement of the tenancy.

Inventory

To protect yourself and the tenant from any dispute as to the condition of the property we recommend that an independent inventory be carried out on the property prior to commencement of the tenancy. There is a check in procedure and a report will be issued to you highlighting the differences. This forms the basis for any deduction from the deposit.

If you wish for Guide Estates to carry out an Inventory, please enquire for cost of inventory.

Deposit

The deposit will go into the Deposit Protection Service upon payment and will be held in the scheme until the end of the tenancy. The scheme is a government run programme that protects the tenant and landlord against any discrepancies with the deposit. If any issue arises, the DPS will investigate further and deductions can be made against the tenant for any damage, taking into account fair wear and tear.

If the Landlord decides to hold the deposit for an Assured Shorthold Tenancy under the rules of the Deposit Protection Service and Guide Estates are to collect the deposit we will forward the deposit to the Deposit Protection Scheme within 5 working days of the receipt of a the appropriate registration details.

Tax

As a landlord you are required to pay tax on any net income and you must liaise with the Inland Revenue to do this. Some expenses are tax deductible such as agency fees, accountants and legal fees, ground rent, service charges, insurance loan interest, repairs and renovation, wear and tear on furnishings.

Renewals

Your tenant will be contacted at least two months prior to the end of the Tenancy and asked whether they would like to renew. You will also be asked to confirm that you are happy for the tenants to renew, either on a twelve monthly, or a periodic basis. Renewals are charged at a rate of 5% less than the initial fee paid (calculated per annum). All paperwork will be dealt with by Guide Estates.