- Valuation and Advice: An appointment will be arranged for our consultant to visit and inspect your property and give a market rental value. Our aim is to give practical advice, in not only the make up and preparation of the property, but also an outline of the legal applications and legislation to satisfy today’s market in order to alleviate prospective landlords, whether they be first time purchasers in this market or require an update. This normally takes an hour.
- Finding a Suitable Tenant: All our properties are promoted through our web pages along with general advertising in the local papers such as Newcastle Journal and Chronicle newspapers. The Hexham Courant along with other website Rightmove, fish4letting and Findaproperty.com. We also find that “To Let” boards help considerably. We are also in touch with all the major companies throughout the North East and give them updates on a regular basis.Prospective tenants complete a confidential status form-requesting bank, employer and personal references and where students are involved a tutors reference. Providing all is satisfactory, we are then in a position to draw up the tenancy agreements and complete the tenancy. All viewings of properties are accompanied by a member of our staff.
- The Lease and inventory: Once suitable tenant references have been accepted, the tenancy agreement is prepared for signature by the tenants. The first month’s rent and damage deposit is paid, the standing order form completed by the tenant for payment of subsequent rents.Having prepared and documented a detailed inventory, the tenants are accompanied to the property to carry out a check in.. All utility details are noted on the inventory, including the meter readings, with advice to those utility companies for the transfer of responsibility. The inventory document is then signed by all parties and dated as proof of condition at the advent of the tenancy.At the conclusion of the tenancy, the full inventory is checked again and unless there are any items missing, or any delapidations, the full damage deposit is refunded. Meter readings are taken and notified to the utility companies with the tenants forwarding address and the transfer of those utilities back to the landlord, or the new ingoing tenant.
- Rental Income and Accounts: Rent is collected in this office on a monthly basis and remitted to the landlord eight working days after receipt. Instructions for repairs are normally rendered to this office for payment out of rental income. Details of any expenditure are shown on the rental statement showing the expenditure against the rental income, which will be required by the Inland Revenue at the end of the tax year.Property Inspections and Maintenance: We carry out inspections on a quarterly basis. This helps to ensure that the property is being maintained in a satisfactory condition and any repairs required can be dealt with. Routine maintenance repairs are arranged as required, but in the case of those repairs of a more serious or urgent nature, they are dealt with immediately and a telephone call to our client landlord.
- Legal Obligations: The law dictates certain legal requirements before a tenancy can commence to include: gas safety (installations and use) regulations 1994 as amended: electrical equipment (safety)
regulations 1994: plugs and sockets (safety) regulations 1994 and furniture and furnishings (fire) (safety) regulations 1988 and EPC’s (energy performance certificate. If there is a bank loan or mortgage, then permission must be granted and agreed by the lender: also, certain leaseholders will require notification.Insurance: It is the responsibility of the landlord to ensure that he has adequate buildings and contents cover. The buildings cover should take into account any “re-building costs”, which can be advised by a qualified chartered surveyor. Contents cover on the other hand will take into account any items remaining in the property belonging to the landlord.We are in a position to provide adequate insurance details by specialist who will deal only with “let” properties with details supplied on request.
- Our Management Fees: Fees are charged at a rate of 15% plus the appropriate value added tax on a rents received basis, however there is an initial fee of 50% plus the appropriate value added tax of the first months rent only, but this fee will not be charged on any subsequent tenancies including change of tenant.
- Tenancy Only Finding Service: Fees are charged at a rate of 75% plus the appropriate value added tax of the first months rent. This includes accompanied viewings, detailed referencing, tenancy agreement, collection of first months rent and damage deposit and inspection check in with the transfer of the utility responsibility.Our Guarantee: Our aim is to give all clients a quality service, with the knowledge that they are receiving individual advice and attention at all times. Charles Lamb Residential Lettings guarantee each landlord 100% effort from all of our staff to ensure that the property is managed factored and tenanted to the best of our abilities.
The minimum tenancy period is six months as per the 1988 Government housing act. Always check availability on (0191) 281 6200 as the list is updated frequently.
If you require any further information then please contact us.