Property Lettings

At Walter & Mair, we let and manage a variety of furnished and unfurnished properties throughout the surrounding areas. As licenced members of the Association of Residential Letting Agents (ARLA) and the Ombudsman Scheme for letting agents you can be confident that all your property matters will be handled in line with their strict codes of practice. All security deposits are registered and held with the Deposit Protection Scheme (DPS)..

  

 

Let Only Service:

 

The property will be marketed both online and in the press together with effective window advertising and contact to prospective tenants already registered. Once a suitable tenant is found we will do our utmost to negotiate the best possible rent over a term to suit. We will undertake all necessary references and credit checks and report our findings as soon as possible.  We will then draft the agreement for landlord and tenant to sign. Once the deposit and months rent in advance has been paid we will release keys and submit the deposit to a protected tenancy depost scheme. The landlord is then responsible for checking and chasing the monthly rent payments and handling any maintainance/repairs on an ongoing basis.

Fees: 8% plus VAT (9.6% inc VAT) of the rent for the term of the agreement. Payment is required in full at the commencement of the tenancy. 

 

Let and Rent Collection Service:

 

The property will be marketed both online and in the press together with effective window advertising and contact to prospective tenants already registered. Once a suitable tenant is found we will do our utmost to negotiate the best possible rent over a term to suit. We will undertake all necessary references and credit checks and report our findings as soon as possible.  We will then draft the agreement for landlord and tenant to sign. Once the deposit and months rent in advance has been paid we will release keys and submit the deposit to a protected tenancy depost scheme.

 

We will collect the rent on a monthly basis and deposit the balance (less our fees) into the landlord's account. If the rent is not paid on the rent day we will contact the tenants immediately for payment. Procedures are in place should payment not be forthcoming.

Fees: 10% plus VAT (12% inc VAT) paid monthly as a deduction from the incoming rent.

 

Full Management Service:

 

 

The property will be marketed both online and in the press together with effective window advertising and contact to prospective tenants already registered. Once a suitable tenant is found we will do our utmost to negotiate the best possible rent over a term to suit. We will undertake all necessary references and credit checks and report our findings as soon as possible.  We will then draft the agreement for landlord and tenant to sign. Once the deposit and months rent in advance has been paid we will release keys and submit the deposit to a protected tenancy depost scheme.

 

We will collect the rent on a monthly basis and deposit the balance (less our fees) into the landlord's account. If the rent is not paid on the rent day we will contact the tenants immediately for payment. Procedures are in place should payment not be forthcoming.

 

We will make the necessary arrangements for repairs and maintenance to the property and contents (if applicable). We can seek authority from the landlord prior to any work being undertaken or agree a limit of expenditure before seeking authority, whichever suits the landlord. Periodic inspections will be made to ensure the property is in satisfactory condition.

Fees: 12% plus VAT (14.4% inc VAT) paid monthly as a deduction from the incoming rent.

 

Other Fees Payable by the Landlord:

 

Tenant & Guarantor Referencing (per person)                                              £75 plus VAT (£90 inc VAT) 

Administration                                                                                               £150 plus VAT (£180 inc VAT)

(preparation of agreement, registering deposit, supply of documentation)

Tenancy Renewal or Extension                                                                     £150 plus VAT (£180 inc VAT)

Tenant Referencing and/or Administration fees also apply to changes during a tenancy such as but not limited to removing and/or adding a tenant.  

Annual charge for holding Deposit for Let Only Landlords                         £50.00 Plus VAT (£60 inc VAT)      (payable on tenancy anniversary)

Deposit Release with no claim for Let Only Landlords       £50.00 Plus VAT (£60 inc VAT)

Deposit Claim Submission for Let only and Rent Collection Landlords     £150 plus VAT (£180 inc VAT)

We charge an hourly fee of £50.00 plus VAT for ad-hoc requests not included in any of the above.

 

Tenant Fees:

  • Initial Holding Deposit: TO reserve the property and capped at a maximum of one weeks rent.

  • Security Deposit: Capped at 5 weeks rent if annual is less than £50,000 or 6 weeks rent if annual rent is £50,000 and over

  • Rent: Payable monthly

  • Changes to a Tenancy: When requested by the tenant and capped at £50

  • Early Termination: charges will not exceed any potential loss to the landlord and only applicable if at the tenants request

  • Utilities: All utilities and servcues to the property

  • Default Fee: For late rent payments (in excess of 14 days) or replacement locks/keys

 

PLEASE NOTE THAT MONTHLY HOUSEHOLD INCOME MUST BE A MINIMUM OF 2.5 TIMES THE MONTHLY RENT TO PASS AFFORDABILITY. FOR EXAMPLE, IF THE RENT IS £1000 pcm, HOUSEHOLD INCOME MUST BE AT LEAST £2500 PER MONTH.

 

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