Upon receipt of your instructions, we will canvass for prospective tenants, and arrange viewings for applicants. When a suitable tenant has been found we will normally take up references such as employers, or previous landlords unless, in some circumstances, these can be dispensed with, for example if the tenant is known personally to the Landlord or ourselves. Due to the unreliability of credit checks, we do not normally take these up prior to a tenancy, but this can be done if the landlord instructs us to do this in advance. We will also erect a “to-let” board outside the property.
We undertake to draw up a Tenancy Agreement, and to prepare an inventory of contents, fixtures and fittings, which includes the meter readings, which the tenant also signs to confirm. We will also advise the appropriate utilities of the date that the tenancy is to commence
Our practice is to collect rents as they fall due, and account to the Landlord monthly in arrears. We will access the property every three months to conduct a management visit to ensure there are no breaches of the Tenancy Agreement, and arrange for any necessary repairs servicing or refurbishment to be carried out as detailed in the paragraph below headed “Repairs and Maintenance”. We will write to the landlord following each visit with a report of our findings, even if everything is in satisfactory order.
For providing the services described we charge two fees. The first is an initial “setting up” charge which is deducted from the first month’s rent, which amounts to 50% of the monthly rent plus V.A.T. Thereafter the monthly management fee is 10% of the rent passing, plus V.A.T. There are no additional fees payable by the Landlord for the regular inspections, and condition reports which we will normally send to you quarterly. There are also no fees payable by the landlord for renewals of the tenancy to the same tenant.
Normally we operate on a “no let no fee” basis, but in exceptional circumstances we reserve the right to charge a fee to cover our costs. An example might be if we were to introduce a tenant and carry out all the preparatory work only to be informed at the last minute that the Landlord had changed his mind. If a Landlord decides to deal direct with the tenant whom we have introduced, or to instruct another agent to manage a tenancy where we have introduced the tenant, a charge equivalent to the commission which we would have earned for a six month tenancy will be levied. This does not affect the rights of Nigel Davis Property Services to terminate the agreement with the Landlord at any time.
Occasionally a tenant whom we have introduced may ask to purchase the property, and on these occasions we will charge the landlord a sale fee of 1% of the sale price, plus V.A.T., subject to a minimum fee of £800 plus V.A.T. This fee is chargeable whether or not we are directly involved in negotiating the sale between the Landlord and tenant.