thatch & co - estate agents

Landlord’s Advice

We offer 3 types of service to landlords:

	Full management
	Find a tenant and rent collection
	Find a tenant

Included within all these are the following:

Advising on rent achievable, the condition of the property and the market in general

Marketing the property and organizing viewings

Advertising the property (additional costs might be incurred if particularly extensive or specially requested advertising were used, by mutual arrangement, to promote the property)

Advising on different types of tenancy and implications

Advising on tax matters (very important for non-UK-resident landlords)

General advice on lettings including insurance, service contracts

Negotiating offers and finalizing terms

References – taking up and checking. thatch & co use an independent referencing agency to carry out reference checks. We make every effort to ensure that any company we use is 100% reputable and reliable. However, thatch & co take no responsibility for any incorrect or inaccurate referencing work.

Guarantors (if necessary) – receiving letters of guarantee

Preparing/overseeing preparation of inventory. thatch & co use an independent specialist agency to carry out inventories, check-ins and check-outs, which are available to landlords. Photographic evidence is used as part of these documents. We take no responsibility for any errors/inaccuracies and any disagreements on the content of inventories should be taken up with the inventory company.

Drafting tenancy agreement

Overseeing check-in

Arranging for tenant’s standing order to be set up

Receiving deposit and first month’s rent on the landlord’s behalf

Holding the deposit in accordance with the regulations which came into force on 6th April 2007. We are members of the Tenants' Deposit Scheme (TDS) and hold annually-audited client accounts.

Full Management

Rent “demanding”, receiving, paying over on a monthly basis (money is paid to clients as soon as we have cleared funds in our bank)

Managing sinking funds

Visiting property every six months and reporting findings to client

Instructing and checking contractors.

Liaising between landlord and tenant

Serving notices

Renewing tenancy agreements

12.5% plus VAT. There will also be an additional charge of £2.50/month for landlords living overseas who chose to receive their monthly statements by post rather than email. Fees are deducted from monthly rentals.

Find a Tenant plus rent collection

Rent “demanding”, receiving, paying over on a monthly basis

Tax withholding

Managing sinking funds

By arrangement

Find a Tenant

10% plus VAT.

Arrangement Fees
There will be a charge of £176.25 (£150 plus VAT) to the client and £117.50 (£100.00 plus VAT) per tenant, as an arrangement fee. This covers the costs of: employing an independent referencing agency; employing an independent inventory clerk to draw up an inventory and carry out the check-in and check-out; drawing up a tenancy agreement and other administrative costs involved in setting up the tenancy.

Condition of Properties prior to tenancy

All properties must be professionally cleaned before being let to tenants

All curtains must be either washed or dry cleaned before the property is let to tenants

If animals have been present in the property before the start of the tenancy, carpets and upholstery must be fumigated. thatch&co can arrange this work on behalf of landlords and we reserve the right to carry out this work between tenancies on all properties managed by us.

Landlord’s Responsibilities

To confirm your identity – we require two forms of ID with photographs (e.g., passport, driving licence). We will need to see the originals or certified copies;

To confirm ownership of the property;

To confirm the right to let the property. This involves seeking consents from:

	The mortgagee (that is, the lender)
	The head/superior landlord if the property is leasehold
	Insurance companies (buildings and contents);

To advise whether or not he/she will be resident overseas and to confirm arrangements regarding the Finance Act 1995. A copy of A Guide To Property Income is obtainable from any Inland Revenue office;

If resident overseas, to supply an address in England or Wales (which will appear on the tenancy agreement) where notices can be served;

To keep the property in good repair inside and out to comply with Section 11 of the Landlord and Tenant Act 1985:

	Structure of property in reasonable repair
	Drains and gutters in working order
	Installations for services in repair and working order
	Installation for sanitation in repair and working order
	Installations for heating water and space heating in working order
	Give the tenant quiet enjoyment of the property
	Not to attempt to access the property without giving the tenant 24 hours’ notice (and if the tenant refuses access in writing, that refusal must be accepted);

To comply with The Furniture & Furnishings (Fire) (Safety) Regulations 1988 (as amended in 1989 and 1993) – all soft furniture (post-1950) to bear safety label;

To comply with The Gas Safety (Installation & Use) Regulations 1998 (as amended) – annual gas safety check, written instructions for all appliances, copy of gas safety certificate for each tenant;

To comply with The Electrical Equipment (Safety) Regulations 1994 – All electrical equipment and wiring should be checked regularly and smoke detectors should be provided throughout the house, written instructions for each appliance must be available to tenants and the 2004 Housing Act. thatch & co require that an electrical check is carried out on all properties prior to letting.

To confirm thatch & co fees (across all services) by signing our terms & conditions;

To instruct thatch & co regarding the preparation of a tenancy agreement and inventory;

To pay mortgage and service charges;

To inform thatch & co in writing in sufficient time to allow a Section 21 Notice to be served on the tenant(s), i.e. 2 months ending on the rent day, if a landlord requires a tenant to vacate a premises at the end of the tenancy or, if a break clause is to be invoked by the landlord.

It is the obligation of a landlord to ask the Inland Revenue to provide a tax return to declare his income. If the landlord is taxed under the PAYE scheme he may not complete a tax return annually but must request a return to declare his rental income. A new property which will be rented out must be declared to the Inland Revenue by October 5th in the year of purchase.

Overseas landlords have a statutory obligation to submit a tax return to the Inland Revenue on an annual basis. The tax is payable by January 31st following the relevant tax year. This should include net rent less expenses.

To make thatch & co aware of any impending maintenance or major building work of which he/she is aware in the property of any adjoining property.