Landlord Guide

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The Process 1 Valuation and Advice During the initial visit our experienced lettings consultant will meet with you at the property to carry out a rental valuation, taking into consideration the location, size and condition of the property, fixtures and furnishings, as well as local demand and your objectives. As a landlord you will need to consider the type of tenant that will be allowed and will be advised of any improvements or alterations that might need to be made to achieve a better rental value. The aim is to let your property at the best price in a timeframe that suits you; we are very experienced and our valuation assessment reflects this. Rental valuation is more sensitive than ever; overpricing by as little as £50 - £100 PCM can act as a barrier which could stop prospective tenants from finding your property online to consider it. Overpricing can result in void periods which can in a short time add up to greater losses than would be faced taking a slightly lower rent PCM. Our valuation appraisal will be supported by the provision of comparable let or to let properties for your reassurance. 2 Service Level Once a decision has been made to let the property through Mackenzie Smith there are a range of service options available. Often the preferred level is Full Management as this takes the work away from you and places the onus on us to make all the arrangements and act as the key contact for the tenant. We also provide a rent collection or tenant finding services. The fee for each service level is a different percentage of the monthly rental income. In addition to the monthly fee there is an initial administration fee which will cover all the work involved in preparing the Tenancy Agreement. Additional fees may apply for the preparation of the EPC, professional photography and floor plan. When an existing tenancy is renewed for a further term there is an extended agreement fee. 3 Preparation Presenting your property correctly is a good way of attracting high quality tenants. This will enable you to secure the best rental return. Sticking to neutral classic, traditional or simple modern styles of decor will appeal to the widest audience of prospective tenants. Prior to marketing the property an EPC must be acquired, this is a legal requirement. The EPC or Energy Performance Certificate is provided by a qualified Domestic Energy Assessor and provides a rating for energy efficiency and environmental impact. The EPC will be valid for 10 years so can be used for multiple tenancies during that time. We can arrange the EPC assessment for the landlord and would be happy to advise you of the likely cost. We let furnished and unfurnished properties; there is no difference in the legal rights or obligations for the landlord. An unfurnished property should include flooring, curtains and light fittings, a fitted kitchen with appliances and a fitted bathroom. 6
Service Options Overview Full Management Rent Collection Tenant Finding Lettings Consultation ✓ ✓ ✓ Arrangement of EPC (if not in place)* ✓ ✓ ✓ Comprehensive marketing and advertising to find a tenant ✓ ✓ ✓ Accompanied viewings ✓ ✓ ✓ Full referencing and credit checks (and guarantors if applicable) ✓ ✓ ✓ Negotiation of the terms of the tenancy ✓ ✓ ✓ Tenancy agreement preparation and signing* ✓ ✓ ✓ Arrangement of electrical safety inspection* ✓ ✓ ✓ Arrangement of gas safety inspection* ✓ ✓ ✓ Collection of tenants security deposit and advance rent Registration of the deposit with the TDS and holding of the deposit Arrangement of independent inventory and schedule of condition* Arrangement of inventory check in and check our reports* Initial rent receipt and remittance to landlords bank account via BACS ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Ongoing rent receipt and remittance to landlords bank account via BACS Arranging maintenance repairs and estimates where appropriate Ensure completion of maintenance and repairs Arrangement of payment outgoings Liaising with landlord and tenant at all times ✓ ✓ ✓ ✓ ✓ ✓ Provision of monthly statements ✓ ✓ Quarterly property inspections with photographic reports where requested Arranging tenancy renewals and rent increases where appropriate ✓ ✓ ✓ Managing the check-out process ✓ ✓ Advise utility companies of all meter readings and register them in the tenants name Deposit reconciliation Keyholding service ✓ ✓ ✓ ✓ * additional charges apply 7
Page 1 and 2: Landlord Guide
Page 3 and 4: Welcome to Mackenzie Smith Property
Page 5: Becoming a Landlord Becoming a land
Page 9 and 10: Feature property editorials allow u
Page 11 and 12: A small gesture can go a long way i
Page 13 and 14: Important Information for Landlords
Page 15 and 16: We can provide landlords with the a
Page 17 and 18: Complete General maintenance, check
Page 20: mackenziesmith.co.uk

Landlord Guide

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