Letting your property is a major step requiring absolute trust in your chosen agents. We have the experience and expertise necessary to give you peace of mind.
Our experienced staff will guide you through all the legislation whether you have a single or a portfolio of properties with complicated management requirements.
Our services are tailored to meet your needs and cover two levels of service:
Our Team specialises in the management of properties and our service include everything as detailed in the full Management Service. You will also get the benefit of using an Agent who makes it their business to always be aware of changes in legislation that may affect you, thus ensuring that you are always up to date with such requirements.
No two properties are alike and a personal inspection is vital in order that we can advise you, the client, on the rental value and letting potential of your property. This also enables us to speak to prospective tenants knowledgeably and confidently.
We accompany potential tenants around your property.
We will obtain employment, landlord and character references(if necessary), along with a credit report.
Rent and Deposits
The rent is collected monthly in advance and we always hold a deposit of at least the same as the monthly rent as security against dilapidations. We are members of the Tenancy Deposit Scheme for Regulated Agents. The TDS has been developed to ensure that the deposits we hold are protected and that disputes are resolved swiftly and impartially.
A detailed list of fixtures and furnishings is drawn up and the condition accurately recorded. This includes a full set of colour photographs. This is then agreed with the tenants.
We visit your property every three to six months to ensure that it is being properly cared for and a report is then sent to you. At the end of the tenancy we carry out a final inspection with the tenants.
We deal with all matters concerning rent collection and also serve relevant letters and notices, should the rent be late or not forthcoming.
We account to clients on a monthly basis and can pay monies direct to clients via the Bank Automated Credit System.
We can act as introducers to Insurance Brokerages who offer various quotes for buildings, contents etc.
All Partners and office managers have consistently high levels of knowledge and competence.
Finding A Tenant
Once we have found a suitable tenant for your property, we will notify you by telephone. We can arrange for you to meet them in advance, should you wish. Once you have agreed you would like them to move in to your property we carry out a number of standard checks to ensure they are reliable, can afford the rent, and don’t have County Court Judgements or bad credit history.
The Tenancy Agreement
We will prepare an approved Tenancy Agreement, with appropriate additional clauses. We also issue the relevant legal notices, at the correct time.
Management/Maintenance Of The Property
As a landlord you have a statutory responsibility for the upkeep of your property in accordance with Section 11 of the Landlord and Tenant Act 1985. We deal with day to day repairs to the property up to £100, and will deduct invoice payments from your account. Any maintenance work required over £100 will always require your authorisation before we can arrange for work to be carried out. We do, however, reserve the right to use our own discretion in the event of an emergency. We provide tenants with a 24/7 contact in the event of an emergency.
Landlords Legal Requirements
It is the landlord’s responsibility to ensure the property to be let is done so safely. There are three statutory regulations that must be satisfied before a property is let. These include:
You must acknowledge that the property has a current Energy Performance Certificate ( EPC ), which must be supplied to the agent prior to the property being advertised to let.
We can arrange for fully qualified engineers to carry out all the above checks on your behalf if you wish.
Smoke Alarms Building Regulations 1991. All properties built since June 1992 must have interlinked mains-connected smoke detectors / alarms on each floor of the property. Older properties should be fitted with at least 2 standard smoke detectors/alarms. Smoke alarms must be checked regularly to ensure that they are in full working order. We are able to arrange this for you. 1 CO Alarm should also be fitted.
Overseas landlords may be eligible to tax exemption on full rental income; you should contact the Inland Revenue Office to determine if you are eligible. If you are then we will need you to provide us with a tax exemption certificate so that full rental income can be credited to you. However, if an Inland Revenue Tax Exemptions Certificate is not given we will retain all net tax on income and pass this onto the Inland Revenue offices on a quarterly basis, as required by law.
We are also obliged to provide an annual return of information to the Inland Revenue for all overseas landlords. Overseas landlords are also requested to appoint a U.K. representative to deal with all tax correspondence. A tax certificate will be issued to overseas landlords by the 5th July as evidence for any tax paid to the Inland Revenue on your behalf.
If you are not used to dealing with the Inland Revenue Office, we strongly recommend using your own certified accountant to complete personal tax returns, so you have total peace of mind.
If you have a mortgage on your property, your Mortgage Deed will usually require you to obtain consent from your lender, before you are able to let the property. If the property is Leasehold, the landlord should obtain permission from the superior Landlord and Management Company.
You should inform both your Building and Contents insurers that you are proposing to let your property and obtain their confirmation that this does not affect your cover.
What We Require From You
Once we have provided you with our initial advice and you have decided to use Cornerstones Lettings to let your property, you need to
Buy To Let Mortgage
If you would like advice on finding the right ‘Buy to Let’ Mortgage, we would be more than happy to put you in touch with an advisor who can help.
Fees And Charges
Fees are due and payable immediately on a tenant entering into a tenancy agreement with the Landlord. Cornerstones Lettings & Property Management will deduct such fees and commission due from rent monies collected.
Let only Service – Fee - 60%(50% plus vat)of the 1st month's rent
Or a minimum of £240 inclusive of vat
Fully Managed Service - Fee - 60%(50% plus vat)of the 1st month's rent
Or a minimum of £240 inclusive of vat
plus 12% including vat from month 2
'Individual Services' - all including vat