Standard management service
Foremost Property Management Ltd provides a property management service to owners / Landlords wishing to let out their property.
The standard management service includes:
- Initial visit to the property to assess for rental purpose.
- Preparing a brochure for prospective tenants.
- Marketing the property as appropriate (may include “to let board” web site, window advertising and local press at our discretion).
- Preparing an up to date Tenancy Agreement.
- Taking a deposit from the tenant to be protected by the Tenants Deposit Scheme until the end of the tenancy.
- Regular inspections of the Property are carried out on a periodic basis and the Landlord/Owner made aware of any items requiring attention.
- Carrying out a property inspection and inventory/schedule of condition check at the beginning and end of the tenancy, advising as to matters relating to unfair wear and tear before applying for release of the deposit monies.
- Collecting the rent monthly and paying over to the Landlord monthly less any fees or expenses due or incurred for the period. Payments will be made by direct bank transfer (unless otherwise agreed) and a detailed rent statement will be forwarded to the Landlord.
- Co-ordination of repairs and maintenance including arranging for tradesmen to attend the Property and obtaining estimates where necessary and settling accounts from rents received.
- Making payments on behalf of the Landlord from rents received for costs in managing the property.
Additional items and other expenses will be charged according to the scale of fees defined below. Although the aim is to take every care in managing the Property, the Agent cannot accept responsibility for non-payment of rent, damage or other default by tenants, or any associated legal costs incurred in their collection where the Agent has acted correctly in terms of this agreement, or on the Landlord’s instructions. An insurance policy is recommended for this eventuality.
Part management service
A service for Landlords who wish to manage repairs and rent collection themselves, but want the agent to be referral base for the tenant enquiries and periodic inspections. Price to be agreed depending on level of service required.
Letting only service / letting and rent collection service
Where the Landlord does not wish the Agent to undertake full management or part management, the Agent can provide a Let Only Service.
The Let Only Service includes only parts 1 to 6 of the Standard Management Service as listed above.
Scale of fees
Property let and management
Tenancy Marketing Fee/Re-marketing...
On instruction - £50 marketing fee (non refundable)
On tenant entry - £200
From month 2 onwards - Standard management charge 10% of rent
Property let only
Let only fee...
On instruction - £50
On tenant entry - £200
Additional services
Tenancy Agreement renewal if requested - £30.00
Arranging quotes/repairs- non-management - £25.00 minimum per request
Issuing of Notice - £30.00 each
Negotiating rent increase - £30.00
End of year Tax Statement - £50.00
Minimum Fee (in case of early termination) - £300
Inventories - £50.00
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