We have compiled a list of commonly asked questions by our prospective and existing Landlord’s. Able Property Management hope that the following answered questions will help with your decision when you come to instructing a letting and property management agency like ourselves.
If we have missed any questions that you would like us to help answer then please do not hesitate to contact us on 0208 418 9830 or via email email@example.com
1. Do Able carryout the viewings?
Able will conduct all the viewings as your appointed letting agent, on the basis that it is during office hours. However, in some circumstances we may ask that you conduct a viewing if for example it is outside of hours. Tenant’s generally find viewing a property easier and more comfortable when the landlord isn’t present as we find that they are able to feel more at home and are more open with their questions.
2. What costs are involved with letting my property?
Firstly, an Energy Performance Certificate (EPC), (please see our page on EPC’s), is required by law, before marketing can commence. Able are able to help arrange for a surveyor to carry out a report on your behalf.
Secondly, an Inventory & Check-In report should be carried out before a tenant moves in. We are of course able to help arrange for this to be carried out but prices do vary depending on the size of the property. Please note that an inventory and check in is not a legal requirement, though if you do not have this, it can prove very difficult to claim back any funds that you are entitled to in the event of any damages.
A gas certificate is required by law and must be in place prior to the tenants taking up residency. We strongly recommend that this is done a few days in advance of the move in date in order to allow time for any remedials if required as a failed certificate will result in the move in being delayed.
Finally, Able’s fee will be payable once we have had the tenants sign the tenancy agreement and this is charged on a percentage basis of the total rental amount. The percentage varies based on the service you require.
3. Able’s Property Management charges?
If you opt for our full management service then our fee will be charged as a percentage on the agreed rental amount. The letting fee is one percentage and is usually taken up front from the initial rent payment and the management fee is a smaller percentage that is taken monthly in line with the rent. However, in some circumstances, we may be able to take the lettings fee monthly also, if this will prove to be more suitable for you.
Please contact a member of our staff if you require more information on this service.
4. Where is the tenant’s deposit held?
The tenant’s deposit will generally be the equivalent of 1 month’s rent or, in some cases 6 weeks’, which is payable upon the day the tenant moves in. The deposit should be registered with an authorised government scheme within 14 day’s of receiving the funds. Able will register the deposit which, in turn will offer the landlord and tenant with complete protection in case of a dispute, though you as the landlord are able to register this in an alternative scheme should you so wish to do so, but it will still be the responsibility of us as the agent to ensure that the funds go into this scheme and so at no point, will they be transferred to you.
5. When is the rent due?
Able will arrange for your rent to be paid on a monthly basis which will be due on the date of when the tenancy started. Although this is not always the case, and can be adjusted by either party by prior request. In some cases, the tenant may pay for a rental period in advance rather than paying monthly.
6. Do Able offer Rent Guarantee?
We provide all our landlords with 6 month’s FREE rental guarantee so they have peace of mind in knowing that that they would still receive an income should the tenant fail to pay their rent. However, this can be renewed for a longer period should the landlord wish for an extra charge. The rent guarantee is part of the referencing service we provide. Therefore should a claim take place then all correspondence will be directly with us should we either be collecting the rent or managing the property.
In the unlikely event that a claim is made then a 1 month excess will be required to the equivalent of 1 month’s rent. This is not payable by you but will be deducted from the rent payments that they make to you whilst taking action to evict your tenant.
7. What happens with the tenant’s?
All viewings, reference checks, signing of the tenancy agreement and the releasing of the keys will all be dealt with by Able. However, unless you have opted for our full management service then you will be required to deal with all maintenance issues, collecting of the rent and liaise directly with the tenant after this point.
Why not let Able take away the stresses that come with renting and contact a member of our staff today!Back to Top