Landlords & Landlord Advice
OUR SERVICES AND LANDLORD FEES
We endeavour to find you the perfect tenant for your property and before we undertake to carry out any work for you we will send you our Terms and Conditions for your perusal and signature.
Here below some information of our services and charges that you would like to know:
Lettings and Full Management Service includes:
- Marketing of property for rental on all reputable property portals and our website
- Arranging for Energy Performance Certificate (EPC)
- Finding a tenant
- Obtaining references
- Collection of rent
- Transfer of utilities
- Ensure tenants deposit is lodged and secured with Deposit Protection Scheme (DPS)
- Key holding service
- Arranging payment of outgoings
- Arranging all repairs and maintenance
- Arranging property inspections
- Managing the check-out process
- Arranging a gas safety certificates
- Arranging Electrical certificates
- Ensure the property is in compliance with current regulations
- Negotiation of renewal including addition of new terms where necessary
We are not a member of the Client Money Protection Scheme.
Hyde Park Agencies is a member of The Property Ombudsman (TPO).
Our Fee/Charges for Full Management (VAT inclusive):
Long Let (6 months or more) = 12%
Short Let (less than 6 months) = 14.4%
Property on Shared Occupations basis (on flat share agreement) / HMO = 14.4%
Property for holiday accommodation (Airbnb/Homeaway/Booking.com etc) = 14.4%
Tenant Find Only Service includes:
- Marketing of property for rental on reputable property portals that we subscribe to, and on our website
- Finding a tenant
- Obtaining references for your approval
Our Fee/Charges (VAT inclusive): 9%
Other Fees and Charges (VAT inclusive)
Tenancy Agreement Fee - £114.00
Furnished Property: Unfurnished Property:
- Studio flat: £103.50 £ 96.00
- 1 bedroom: £120.00 £108.00
- 2 bedroom: £132.00 £120.00
- 3 bedroom: £144.00 £132.00
- 4 bedroom: £156.00 £144.00
- 5 bedroom: £168.00 £156.00
Energy Performance Certificate – We are required to have this by law before we can market your property for sale or rental. We will arrange for an EPC on your behalf of you do not currently have a valid one: from £72.00.
From April 2018, it is a legal requirement for every rental property to have an energy efficiency rating of at least E. This will apply immediately to new tenancies and existing tenancies that are being renewed or extended from April 2018.
Any property with a rating of F or G will be deemed unfit for rental and appropriate measures will need to be taken to improve the energy rating to the minimum E rating. We would obtain quotes for you to rectify the issues.
Overseas Landlords not holding an HMRC Exemption Certificates - A quarterly charge of £60.00 will be made for the work carried out by Hyde Park Agencies for submitting quarterly returns of tax withheld to HM Revenue & Customs.
Income & Expenditure reports and statements - Upon request, we provide an annual Income & Expenditure report for the tenancy or copies of 12 months’ of statements. Cost: £30.00.
Refurbishment Services - To advise on and project manage the redecoration and refurbishment, we charge a fee of 12% of the total cost of the works.
NON UK RESIDENT LANDLORDS
If you reside outside of the UK for more than 6 months, you are classed as a NON-RESIDENT LANDLORD by HM Revenue and Customs (HMRC) and we are bound by law (Non-Resident Landlord Scheme) to deduct basic rate tax from the rent we receive on your behalf, and pay direct to HM Revenue and Customs.
However, you can apply to have rent paid to you without any tax deductions. An application should be made to HMRC to receive rental income with no tax deducted and once approved, HMRC will normally send direct to us an approval letter/certificate in order to authorise us to pay to you the rental income gross i.e. without the deduction.
You would need to notify HMRC that we are the letting agent, and fill in the appropriate Non Resident Landlord (NRL) form – please visit this website for more information : https://www.gov.uk/tax-uk-income-live-abroad/rent
Our NRL agent code (which you will need when completing the form) is: NA9224692
You may choose to appoint an Accountant who will assist you accordingly.
Please feel free to contact us for any further information you require.
You set the standards – we keep them.
With a pool of approved tradesmen, trusted tenants and expert agents at our disposal, we’ll ensure your property is maintained to a high standard when you let through us.
Even if your tenants change, the condition of your property won’t.
It takes skill and good negotiation techniques to ensure you gain the right rent for your property, and we do just that. We are here to provide a service for you, and will make sure your property is marketed well to optimize the rental income.
We offer full Property Management services, get in touch today to find out more.
Finding the right people to rent your property
If anyone other than you has to live in your property, we know you’d like to make sure that they take just as much care of it as you would. To help you do that, we’ve identified four key things you need to pay attention to – presentation, preparation, legislation and deliberation.
A nice, clean tenant wants to know that the place they’re moving into has always been kept up to standard. So, it’s important to make sure that when you host viewings, the flat is looking and smelling its best. If not, the only people who’ll stick around are the tenants who don’t look and smell good.
Decide on the exact date you want your property to be let and let us know six to eight weeks ahead of schedule. This gives us time to meet a larger number of suitable tenants and select the best. It also allows some space to sort out essentials such as gas safety regulations, inventories etc.
Don’t let your hard work and money be compromised because of a legal technicality. What do the fire and furnishing regulations, an electrical safety certificate and the new Tenancy Deposit Scheme mean for you? That’s what we’re here for – our expertise is particularly useful when it comes to avoiding legal potholes.
It’s fair for you to have an idea of how much you want for your property but the market is a tricky place. So, it’s important to seriously consider our advice when we give you insights into the reality of our industry and the best options available to you.