LANDLORDS

Landlords

Bannisters HomeLet is a friendly, family owned company specialising in the Management and Letting of Residential Property. HomeLet was originally started in 1988, merging with Bannisters in 1996 to form Bannisters HomeLet.

We are totally independent of any other organisation and strive to offer a professional, efficient and informative service to both Landlords and Tenants at all times.

As we are not Estate Agents, we spend 100% of our time dedicated to managing property for Landlords.

We offer a range of services to suit individual needs, full details of which are itemised on the following pages. If you have any special requirements (such as paying rent income into an overseas bank account) we will be pleased to help and advise you.

We will usually do anything you ask of us from watering your plants, feeding the budgie to redecorating and furnishing the whole house if required.

Most Landlords requirements can be catered for within the two service levels detailed. However, if you consider that you only need certain parts of our service, or that you need something in addition, please let us know - we are very flexible and will normally be able to accommodate your requirements.

The following are the most frequently asked points when Landlords are assessing how we operate:-

1. Viewings

We NEVER send tenants to view properties unaccompanied. All viewings are by pre-arranged appointment at your and the tenants convenience - including evenings and weekends. You’ll find that many letting agents restrict viewings, or even hand out keys!!

2. Payment of Rent

The computers in our Accounts Department at Bicester are linked directly to our Banks system. Utilising specially developed software, we maintain up to the minute records on all managed property, collecting rent by standing order from tenants and processing it directly to your nominated bank account by Auto Transfer so that it usually appears in your account within 2 working days of reaching us.

Because of the system we use, when the funds arrive in your account they are instantly cleared and available to you to use without having to wait for cheques to clear. All rent is collected monthly in advance. We take a dilapidations deposit from the tenant equivalent to one months rent plus £200. More for larger properties.

3. References & Credit Checks

Efficient screening and selection of potential tenants is absolutely fundamental and critical to successful Property Management.

Your preferences regarding the allowing (or not) of smokers, pets and children at the property are strictly adhered to.

On every tenant, we obtain:-

• A reference from their employer
• A credit score rating
• Previous Landlord or Agent reference

In addition, where potential tenants are self-employed we obtain an Accountants reference, and for Limited Companies or PLC’s we also credit check the company. In the rare instance where some doubt still exists we will ask for responsible guarantors. With "sharers" we obtain separate references on each individual. We normally only let to professional people in full employment, and would not let to sharers without the express permission of the Landlord.

4. Tenancy Agreements

All agreements are Assured Shorthold Tenancies and generally run for an initial minimum fixed period of six months. We tailor each agreement to your exact needs and are happy to forward a draft copy to you for approval prior to signing.

5. Computer Technology

All branches are linked into our Property Management software and can update tenant, Landlord and property details instantly, producing matching lists for tenants and properties, leases, inspection reports and so on. All inspections, tenancy renewals and safety check reports are produced daily and processed.

One major benefit of our software (and tenant vetting procedures) is that we rarely encounter rent arrears, and on the odd occasion that a tenant gets behind with their rent we immediately telephone them on their rent day asking for them to resolve the error. Because of this, incidences of ongoing rent arrears are almost non existent.

6. Finding tenants

Ongoing and regular advertising in local newspapers is our main source for finding tenants. We also use:-

• Rightmove Property Portal
• Yellow Pages
• Thompson Local Directories
• Swing signs outside offices
• “To Let” boards at properties
• Upmarket publications (for Executive and unusual properties)
• Personal recommendation
• E-mail/The Worldwide Web
• Contacts with local companies
• Presentations to national companies

7. Marketing your Property

Once we have met with you and taken your property on, we produce individual property details which normally include one or more photographs and a full description of the property.

Rather than just mail out property details to potential tenants we actually telephone all suitable ones, discussing the property with them and arrange viewings. This includes individuals, companies, relocation organisations and letting agencies who we believe offer a reliable service. All branches have access to all property details and frequently contact each other with information on possible tenants.

We are pro-active in marketing properties and do not sit waiting for the telephone to ring, thus dramatically reducing the amount of time your property stands empty.

8. Letting Services

We offer two levels of service as complete packages, details are on the following page.

Our services are all inclusive and there are NO HIDDEN EXTRAS. What you see is what you pay. All initial fees are deducted from the first months rent when we collect it from the tenant.

All fees are subject to VAT.

If you have additional needs please discuss them with us as we would prefer to tailor our service to suit rather than leave you less than 100% satisfied.

BASIC LETTING SERVICE
This service is normally used by Landlords who wish to actively manage their property themselves, but would prefer us to find suitable tenants.

BASIC LETTING SERVICE comprises:-

• Visiting your property, appraising the letting potential, advising you about the Housing Act, Tenancy Agreement and answering any questions you have.
• Advertising and marketing your property
• Carry out initial vetting of all applicants
• Arrange accompanied viewings with potential tenants
• Obtaining your approval once a suitable tenant has been located, and negotiating all tenancy details.
• Taking up references in accordance with our standard policy.
• Preparing the Tenancy Agreement and supervise signing, serving the required legal notices on the tenant.
• Collect the dilapidations deposit and first months rent & forward the balance to you net of our fees.
• Liaising with your Bank or Building Society if required.
• Welcoming the new tenant on the hand over day.

BASIC LETTING FEE .....10% of the rent for the initial 6 months of the fixed term. (Minimum fee £350)

Renewals/extensions of Tenancy .....Please ask.

FULL MANAGEMENT SERVICE
Includes all the features of our Basic Letting Service and is suitable for Landlords who prefer not to be involved in the day to day management of their property.

FULL MANAGEMENT SERVICE comprises:-

• All features of the Basic Letting Service plus:- • Rent collection by standing order throughout the tenancy
• Statement of account submitted to you monthly
• Initial inspection of your property during the first 6 weeks of the tenancy and quarterly thereafter with written reports sent to you each time
• Arrange and supervise any minor repairs and maintenance needed up to an agreed limit, usually £50 - £100.
• Automatic re-marketing of your property during last 6 weeks of a tenancy and finding new tenants, increasing rent where suitable (Subject to our normal fees on re-letting)
• Caretaking the property between tenancies if we are instructed to re-let.
• Ensuring that all properties comply with current safety regulations regarding Gas, Electricity and Fire Safety
• Preparation of full inventory and schedule of dilapidations, checking at start and end of tenancy. Advising Utility Companies and Local Authority in writing of change in occupier, including meter readings.

FULL MANAGEMENT FEE ..... 12.5% of the gross monthly rent

Administration Fee ..... £225 + VAT

Please see 'Additional Services' for other services available

ADDITIONAL SERVICES
In addition to our complete package services, we have found that these additional services are of use to some Landlords:-

• Inventory Fees – Includes preparation of detailed inventory and schedule of dilapidations, checking at start and end of tenancy and generally supervising payment of final bills. Also advising in writing all Utility Companies and Local Authority of change in tenancy, including meter readings

Property size	Unfurnished	Furnished
Studio or 1 Bedroom	100.00	125.00
2 Bedroom	120.00	145.00
3 Bedroom	145.00	170.00
4 Bedroom	175.00	195.00
5 Bedroom & above	Please ask

• Full cleaning service at start or end of tenancy .............................. From £75.00

• Instructing and liaising with Estate Agents in the event of you wishing to sell the property .............................. £Negotiable

• Sending duplicate monthly statement to your Accountant ......................................... £Free

• Garden Maintenance ...................… £By quotation

• Maintenance & Repairs ................... £By quotation

• Supplying furniture or Electrical goods ........................... £Cost + delivery

• Storing of furniture ............................. £Negotiable

• Advising on suitable property to purchase for rental ........................................£Free

• Initial liaison with Tax Office for Overseas Landlords .......................................£Free

All fees are subject to VAT

GENERAL INFORMATION
Service Contracts etc

Many Landlords have service contracts for central heating, kitchen appliances, televisions, video recorders and so on. It is advisable to keep these in force whilst the property is tenanted, leaving full details with us. All instruction manuals should be left at the property.

Condition of the property

The property should be in good decorative order inside and out. The wiring and plumbing must be safe and in a good state of repair, and the property left clean and tidy.

Safety

There are now various laws and recommendations governing the safety of tenanted property:-

Gas
All properties that have either natural or bottled gas are required by law to have an annual Landlords Gas Safety Report.

Electricity
All properties where there are electrical appliances that have plugs on them are required by law to have an annual P.A.T. test undertaken. Landlords also have a Duty of Care under common law to ensure that the electrical installation (wiring, sockets etc) are safe. We require an Electrical Safety Check Certificate.

Energy Performance Certificates
From the 1st of October 2008, it will be mandatory for all the Landlords to make Energy Performance Certificates (EPCS) available to all NEW Tenants as part of the letting process. Each EPC will be valid for 10 years.

Furniture & Furnishings
All furniture including beds, divans, sofa beds, children’s furniture, cots, cushions, high chairs, mattresses, pillows and seat pads left at the property by the Landlord must comply with the Fire Safety Regulations 1988.

Furniture proved to be manufactured before 1st January 1950 is exempt.

Upholstered furniture normally carries a label with the heading "Carelessness causes fire" Mattresses should have a label stating compliance with BS7177.

Any items not labelled may not conform to the regulation and have to be removed from the property.

Smoke Alarms

There is no legal requirement to install smoke alarms in let property, however in the best interest of both the Landlord and the tenants we require that a minimum of one per floor is installed.

Please note that new build houses are required to have mains wired smoke alarms by law.

Carbon Monoxide

There are no regulations requiring detectors in let property. The annual Landlords Gas Safety Record should highlight any potential hazards

If you are in doubt about any safety aspects of your property, please ask us to examine the installations.

The garden

The garden should be left neat and tidy. It is a requirement of our Rental Agreement that the tenant keeps the grass cut, borders and paths weed free and shrubs trimmed. In furnished property only, you should leave adequate gardening equipment for the tenant.

Should you require certain plants or trees to be pruned or treated in a special manner, please let us know and we will do our utmost to comply with your wishes.

What to leave

We are happy to advise on what items to leave at the property. Unfurnished properties should normally have carpets, curtains, cooker and lampshades. As a general rule, do not leave items of a personal or sentimental nature, or valuables of any kind.

Keys

There should be at least TWO full sets for the tenant/s, including the garage, shed, window locks etc, and

ONE FULL SET OF KEYS FOR US
to hold for emergencies and inspections.

Dilapidations

When we manage a property (or where you have asked us to prepare inventories on Basic Lets) we inspect the entire property at the start and end of a tenancy, marking down any damage or staining. With the exception of fair wear and tear, any variance from the move in inspection will be corrected and the cost deducted from the tenants deposit.

Income Tax

The Inland Revenue state that all UK derived income is subject to taxation after the deduction of allowable expenses. It is your responsibility to advise the Tax Authorities that you are renting out your property. We are able to offer general guidance regarding allowable expenses, but strongly recommend you instruct an Accountant if you are in any way uncertain.

If you are living or going abroad, the Government requires us to deduct Income Tax from rental income before passing it to you unless you register with the Inland Revenue as a Non Resident Landlord. We keep a supply of the necessary forms and will be pleased to help you register. Please see the notes in our Terms and Conditions of Business.

Insurance and Mortgages

We recommend that you advise your mortgage provider that you intend to rent your property out. Most Banks and Building Societies require you to seek their permission.

Your buildings and contents insurance should be amended to account for the fact that the property is tenanted.

We advise all tenants to have insurance that covers their contents and accidental damage to landlords fixtures and fittings.

We have access to Insurance and Mortgage providers who specialise in the rental market, and will pass their details to you if required.


We hope this handbook has answered any questions you may have. Please telephone us if you would like to discuss any aspect of property rental.