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Contact Us: 01933 228822
Email: info@martinpendered.co.uk

 

Information for Landlords

Please see below the services/fees Martin Pendered & Co can offer in assisting with the marketing of your property, depending the level of service required:-

•             Rental Valuation of your property

•             Widespread Advertising

•             Board

•             Accompanied viewings

•             Selection of a Tenant and all relevant credit and reference checks

•             Preparation of Tenancy Agreement

•             Preparation of Inventory

•             Assistance with preparation of property in readiness for Tenant

•             Collection of rent and prompt payment direct to Landlord

•             Management of maintenance issues

•             Quarterly inspections and report of your property

•             Final inspection at end of Tenancy

 

Our clients account is guaranteed by the RICS and a very experienced team dedicated to letting and managing your property.

On receipt of your instruction, we will immediately place your property on the rental market to achieve a letting in as short a time as possible to produce income at the earliest possible date.

We will advertise your property with colour photos on Rightmove, Zoopla and our Website, in the East Northants Evening Telegraph, in our rental list and in our window display.

Once we have located a suitable tenant, we will take up references.

We can offer in most cases six months free rent guarantee, subject to references.

We will carry out a schedule of condition and inventory on the property, subject to charge. (see “Fees for Landlords”).

When the tenant signs the lease we obtain from them one month’s rent in advance and a deposit equivalent to one month’s rent plus £100.  If pets are permitted at the property we will ask tenants for 2 months rent to be held as deposit for the duration of the tenancy whereby they would have to agree to a professional clean and treatment for pests/fleas at the end of the tenancy.

The deposit with be held in the Tenancy Deposit Scheme (see “Fees for Landlords”).

We will carry out quarterly inspections on the property and report back to you.

We can arrange for a Gas Safe registered engineer to carry out checks on all gas appliances and issue a Landlord Gas Safety Certificate.   (see “Fees for Landlords”).

At the end of the tenancy we will complete a final inspection of the property and make sure that the property is clean and in a satisfactory condition.

 

Our Accounts department will:

  • Collect rent monthly in advance and chase any overdue rent, if necessary. The majority of tenants pay by standing order, ensuring the rent is paid the same day each month. We also have a facility for payment by Debit Card.
  • Issue a monthly statement of rental incomings and outgoings.
  • Pay any invoices for necessary repairs.
  • Produce an end of tax year certificate for landlords living overseas.

 

Fees for Landlords

Please see below fees for Landlords, depending upon the level of service required, which are stated inclusive of VAT at the current rate unless otherwise stated:-

 

Fully Managed

Initial set up fee:   £180

8% of the monthly rent collected (plus VAT

Inventory:  From £72 - £102 (dependent up no of bedrooms/size)

Registering the deposit with the TDS £18 per annum

Subsequent Tenancy: Fee £120

 

Introduction of a Tenant

Fee: £420

Registering of Deposit with approved Scheme: £60 for the duration of the tenancy

Inventory: From £72 - £102 (dependent up no of bedrooms/size)

 

Rent Collect

Initial set up fee: £180

5% of the monthly rent collected (plus VAT)

Inventory: From £72 - £102 (dependent up no of bedrooms/size)

Registering the deposit with the TDS £18 per annum

 

You would require a Gas Safety Certificate if there is gas at the property.  We can arrange this with our Gas Safe Engineer at the cost of £72 including VAT.

An Energy Performance Certificate would also be required, should you not have one.  We can arrange this at a cost of £65 including VAT.

 

Safety Information for Landlords

Maintaining gas installations and fittings in accordance with the Gas Safety (Installation and Use) Regulations 1994 (as amended), we would recommend that gas appliances are serviced annually.  Gas Safety Certificates are required annually.  We reserve the right to organise a safety inspection should the landlord fail to provide the relevant certificates.

Smoke alarms/heat detectors must be fitted to the property, a minimum of one on each floor.  We reserve the right to have these installed and the cost reimbursed. 

A carbon monoxide alarm should be fitted to each area where a gas appliance is present.  If there is no carbon monoxide detector fitted we reserve the right to have one fitted and the Landlord will be charged.

The Electrical Equipment (Safety) Regulations 1994 state that all electrical appliances, both fixed and portable, in rented accommodation must be safe.  The only sure method of checking this is to have them tested and labelled periodically by a qualified electrician with the appropriate portable appliance testing equipment.  We can arrange an electrical safety inspection on your behalf.

If properties are let furnished all furniture must comply with the Furniture and Furnishings (Fire Safety Regulations) 1988 – i.e. all fillings and covering shall be fire resistant with notification labels attached.

Landlords are required to check their cold water storage cistern (tank) in the roof space to ensure that is has strong and sturdy level boards to support the whole of the cistern.  This should extend beyond the edges of the cistern and be                properly supported underneath.

You may be aware that Landlords will soon be required by Law to carry out annual risk assessments on their properties for Legionnaires Disease and address any risks highlighted.    Landlords can carry out their own risk assessments BUT MUST provide us with a copy of the risk assessment, much like the annual gas safety certificate.  Alternatively, we will be able to carry out this service for landlords on an annual basis at a cost of £72 including VAT.

We would anticipate that the first assessment will highlight any risks and we will be able to provide quotations for the works to bring the property up to the required standard.

 

Regulatory Status of Martin Pendered & Co Limited

We are not authorised by the Financial Conduct Authority. 

We are regulated by The Royal Institution of Chartered Surveyors, 12 Great George Street, London SW1P 3AD 0247 686 8555.

However, we are included on the register maintained by the Financial Conduct Authority so that we can carry on insurance mediation activity, which is broadly the advising on, selling and administration of insurance contracts.  This part of our business, including arrangements for complaints or redress if something goes wrong is regulated by RICS.  The register can be accessed via the Financial Conduct Authority website at http://www.fsa.gov.uk/register/home.do.

 

We also wish to advise you that the company has a complaints procedure, details of which will be supplied on request.  All complaints should be submitted to Martin Pendered FRICS at the company’s address.

If we are unable to agree how to resolve your complaint then you have the opportunity to take your complaint to an Independent Redress Provider as provided by RICS Regulatory Board.  We have chosen to use the following Redress Providers:-

Ombudsman Services Property, P O Box 1021, Wilderspool Park, Greenalls Avenue,

Warrington, WA4 9FE.

Email: enquiries@os-property.org

Telephone: 01925 530270

www.os-property.org

 

The person responsible for general insurance mediation activity within the company is Mrs A O’Reilly.  She can be contacted at the firm’s address:  2 Burystead Place, Wellingborough NN8 1AH.

 

Tenancy Deposit Protection

Under the Housing Act 2004 anyone (managing agent or landlord) accepting/holding a tenancy deposit in respect of an “Assured Shorthold Tenancy” in England and Wales must belong to an “authorised” scheme which protects deposit monies. An “authorised “scheme is one which has Government approval. The scheme must also provide a dispute resolution service to be invoked should a dispute arise about allocation of the deposit at the end of the tenancy period.

Martin Pendered & Co is a Member of the Tenancy Deposit Scheme.

 

Client Money Protection Scheme

Martin Pendered & Co are regulated by the RICS. 

RICS’ rules say that firms regulated by RICS shall preserve the security of clients’ money entrusted to it.  This means that a firm regulated by RICS should ensure that:

•Your money is protected

•Any money you entrust to the firm is held in a client account, separate from the firm’s own money

•The client account is a bank or building society account that has the word ‘client’ in its title and    contains only money that        belongs to clients of the firm

•The firm confirms the details of the account with you in which your money is held

•Your money can only be used for those purposes that you have agreed with the firm.

RICS also funds a Clients’ Money Protection Scheme. This is a free service provided by RICS to clients of firms that are regulated by RICS.  RICS purchases insurance to protect its exposure under the Scheme.

 

Protecting your money

Clients who entrust money to firms regulated by RICS are protected in the unlikely event that the money is mishandled.

You can easily recognise a firm that is regulated by RICS by the strapline “Regulated by RICS” used on their business stationery.

How do I know my money is protected by the Clients’ Money Protection Scheme?  Any money, up to the scheme limits, entrusted to a firm that is regulated by RICS will be covered by the scheme. If you wish to check whether the firm is regulated by RICS please contact the Regulation Helpline on 0207 695 1670.

How much does the scheme cover?     Each claim per member of the public is limited to a maximum of £50,000 subject to an overall aggregate limit for the scheme of £5,300,000 for any one calendar year.

What money is covered under the scheme?    The scheme covers the direct loss of money held by a RICS regulated firm on behalf of clients.

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