Sheridans Estate Agents

Lettings / Property Management

Letting a property can be a challenging experience given the increasingly complex legislation that is continually introduced.  Our highly experienced team are fully versed in all the latest legislation, and whether you are a first time landlord or an existing one Sheridan’s are able to advise you on all property matters making sure a maximum rental return is achieved.  Sheridan’s are here to support you in advising on property requirements and repairs to enable you to let and run your property as efficiently as possible and to minimise void periods.  We aim to find suitable tenants to maximise the landlord’s income and minimise your expenditure.

As every client’s requirements are specific we offer an individually designed and tailored management service to landlords, either living in the UK or resident abroad.  The services include:

  • Finding a suitable tenant
  • Taking up references and credit checks
  • Drawing up tenancy agreements
  • Taking a statement of condition or inventory
  • Collecting the rent and reconciling accounts monthly
  • Making regular inspections of the property with feedback
  • Advising on necessary repairs
  • Lease Renewals
  • Providing information and advice on insurance and tax matters
  • Excellent relationship with local trusted contractors

For any Lettings or Property Management enquiries, please contact Debbie Prosser who will be happy to help you on 01462 814087 or email debbie@sheridans-estates.com.

 

Our residential tenants fees and charges

(We’ve detailed everything below to give you an idea of what to expect)

Tenants Fees Fees Inc. VAT
Set up (tenant’s share)
Reference each tenant and right to rent check.
Tenancy negotiation (amending and agreeing terms) and arranging the tenancy.
£275
Guarantor reference checks £60
Deposit Equivalent to 6 weeks rent
Renewal negotiation and paperwork (tenants share)
Payable at renewal
£90
Change of sharer (includes tenant reference check) £200
Call out services £60 plus contractors invoice
Inventory check out (paid at the commencement of tenancy) £90
Late paid rent/returned payments £24 per late rent payment or returned payment
Interest on any unpaid or late rent at 4 per cent above Barclays PLC base rate

For further details, please request a copy of our “Guidelines and Requirements for Prospective Tenants” and discuss with one of our Letting Consultants

You are also responsible for all household bills such as gas, electric, water, telecoms, council tax and so on, if you any questions please contact one of our Lettings Consultants.

Sheridan’s Estate Agents are members of the Property Ombudsman Redress Scheme & Tenancy Deposit Protection Scheme.

Landlord’s Fees

(Explanation of our fees)

Option one

Tenant Find: 90% of first months rent (Inc. VAT)

    Includes:

  • Agree a market rental value
  • Refurbishment advise (where appropriate)
  • Provide guidance on compliance with statutory provisions and lettings consents
  • Provide Sheridan’s with your chosen deposit scheme and membership details
  • Make any HMRC deduction (where appropriate) and provide tenant with the NRL8
  • Market the property and advertise on relevant portals such as Rightmove, On the market etc.
  • Erect a “TO LET” board outside the property
  • Carry out accompanied viewings
  • Source a tenant
  • Carry out credit and reference checks
  • Preparation of the tenancy agreements and arranging the signing thereof
  • Collect initial months’ rent from prospective tenant
  • Provide tenant with payment instructions for future rental payments
  • On agreed pre-tenancy invoices/expenditure deduct from initial statement
  • Any shortfall to fees payable - agree payment method

Additional optional fees and charges:

  • Tenancy agreement - £90 (Inc. VAT)
  • Inventory - £120 (Inc. VAT)

Option two

Full Management Service: 12% of rent (Inclusive of VAT)
Plus Set up Fee £275 (Inclusive of VAT)

    Includes:

  • Agree a market rental value
  • Refurbishment advice
  • Advice on non-resident tax status and HMRC (if relevant)
  • Provide guidance on compliance with statutory provisions and lettings consents
  • Market the property and advertise on relevant portals such as Rightmove, On the market etc.
  • Erect a “TO LET” board outside the property in accordance with Town and Country Planning Act 1990
  • Carry out accompanied viewings
  • Source a tenant
  • Obtain credit and reference checks from prospective tenants
  • Arrange to have the appropriate number of set of keys required for each tenancy (to also include one set to be held with Sheridan’s)
  • Tenancy agreement
  • Inventory with schedule of condition
  • Arrange collection of rent from tenant and remit with monthly statement
  • Pursue non-payment of rent and provide advice on rental arrears procedures
  • Deduct management fee and any other expenditure from monthly rents received
  • Inform all relevant utility providers of change of name to the accounts
  • Arrange quarterly property inspections and produce a report with updates and recommended actions following the visit
  • Co-ordinate maintenance repairs when required and instruct the relevant contractor to carry out the works required (quotes taken where appropriate)
  • Arrange annual gas safety checks
  • Emergency out of hours assistance offered to tenants
  • Rent review advise offered (to include service of a Section 13 to the tenant, if tenancy on a statutory periodic tenancy)
  • Keeping your tenant regularly updated on maintenance repairs updates etc.
  • Service of Section 21 or Notice to Quit

Additional fees and charges:

  • Tenancy renewal fee (landlords share) - £90 (Inc. VAT)
    Involves negotiation with all parties, new terms, new tenancy agreement and associated documentation i.e. updating deposit protection certification etc.
  • Repairs/Project Management Fee
    When costs of works exceed £750 (Inc. VAT) a fee of 12% is payable for the total net invoice of works

Sheridan’s Estate Agents are members of the Property Ombudsman redress scheme.