Lettings & Management In Pimlico, Victoria, Westminster, Chelsea, Knightsbridge, South Kensington, St James’s, Mayfair, Belgravia

Renting your property can be both time consuming and expensive. There are a number of options and these are discussed in some detail below:

Pimlico Letting Agents: Getting Organised

Letting and property management agents provide a number of different types of services to landlords. The level of service will very often determine the amount they charge. Charges are usually commission, based on the annual rental income of your property. You should therefore discuss and compare the charges of different agents in your area. Typically rates vary between 8% and 15% plus VAT. Some agents deduct the commission upfront whilst others make a deduction as they collect the rent.

1. •Introduction Only: The introduction service offered by letting agents very often gives landlords the most basic of all services available. It consists of finding suitable tenants for your property, applying for references, preparing the tenancy the tenancy agreement and collection of the first month's rent and deposit. The letting agents' charges are deducted from the first month's rent and deposit. As landlord you will be responsible for the deposit and for all future property management issues.
   

• Rent Collection: The rent collection service includes all the services  offered under the introduction only service, together with a rent collection service. Once rent is collected the letting agents' rent collection commission is deducted and balance is paid to the landlord. The landlord is expected to arrange to inspect the property and deal with any repairs under the terms of the agreement. The issue of notices to quit are normally dealt with by the letting agent but the landlord will need to make his or her own arrangements to deal with all aspects of the tenant moving out.

1. •Full Management: The fully managed service offered is the most comprehensive and deals with almost all the issues of property management required on a daily basis. Urgent repairs will be undertaken as needed by the letting agent and quotes will be obtained for other non-essential matters. The payment for any expenditure will be deducted from rents collected before any payments are made to the landlord. For landlords who working or living abroad this service is essential as all matters are left in the hands of the letting agent.
   

The full Pimlico property management services include

• Calculating the rental value.

• Market the property through both real world and internet advertising via our website - plus consult our list of tenants.

• Full inventory - condition of decorations etc.

• Arrange and accompany Tenant to view property.

• Obtain references from tenant - Employer References and Bank References.

• Notify Mortgage Lender that property is being rented - if required after the owner has obtained prior consent to the letting.

• Retain deposit from Tenant against dilapidation.

• Retain one month's rent in advance.

• Organise insurance policy for Landlord i.e content and building insurance.

• Take meter readings and transfer all services into Tenant's name plus Council Tax and Water Companies etc.

• Ensure Tenant signature is on property inventory.

• First day Tenant moves into property check that there are no problems.

• Inspection of property on day of rent collection.

• Send monthly statement to Landlord.

• Transfer monthly rent received to Landlord.

• If maintenance/repair is required will notify Landlord, cost will either be deducted from monthly rent/insurance policy claim or at Landlord's discretion.

• Will liaise between Landlord and Tenant when required.

• Will issue warning letters to Tenants if problems arise.

• If problem persist will submit a termination notice to Tenant.

1. •At end of tenancy, the property is professionally cleaned.
   
   

Introduction

Property, whether held for occupation or investment, is an asset which must be managed and improved so that it continues to create income and increase in value. At ffields we pride ourselves on our efficient and professional attitude and our attention to detail. Our staff are trained to the highest standards and we offer a comprehensive service tailored to the wide ranging needs of property owners. The service we provide is based on expert knowledge and experience and we hope that this handbook provides a useful source of reference.

Preparing the property
The landlord is responsible for ensuring that the property is in good order and ready for letting prior to and throughout the tenancy. It is important that tenants should feel comfortable in their home, and that they are receiving value for their money. Property that is in good condition, clean and tidy, well decorated and with no defects will let much more easily, achieving a maximum rental figure than a property in a bad state or in disrepair. Tenants are also more inclined to treat a property in pristine condition with greater respect. Ensure that the property is well aired and clean and also warm if it is being marketed during the winter months.

General condition
The quality of the interior decoration of a property will substantially affect the rent achievable. The more appealing the décor, soft furnishings and furniture (if applicable) the more interest you will have in the property and the more likely you are to achieve a higher rental. As a minimum every property should have carpets/floor coverings, curtains, white goods. Electrical, gas plumbing, waste, central heating and hot water systems must be safe, sound and in good working order. Repairs and maintenance are at the landlord’s expense unless misuse can be established. Interior decorations should be in good condition and preferably plain, light and neutral. Carpets and curtains should be of a good quality, particularly in unfurnished property where they will be more obvious. Kitchens should be bright, modern, well-equipped and well-ventilated and should ideally include a dishwasher, a large fridge freezer, washing machine or washer dryer and microwave. Bathrooms should have high quality fittings and be well-lit and well-ventilated. It is preferable to have power showers and fully tiled walls and floors. Storage is very important throughout the property, and fitted wardrobes are preferred in the bedrooms. Overall the finish should be of a high standard throughout.

Furnishings
The same legal protection is enjoyed by the landlord whether the property is furnished or unfurnished and it generally makes no difference to the asking price. Demand for furnished property tends to be higher at the lower end of the market i.e. 1-3 bedroom apartments as many prospective tenants at this level may not have rented before and tend not to have been a homeowner. It is common for them to be armed only with a suitcase and provision should be made in this regard. Large family apartments or homes tend to let unfurnished. However if you can be flexible, you will appeal to a wider audience. It is worth noting that if you are able to offer your property as furnished or unfurnished, it tends to show better ‘dressed’ i.e. furnished, provided that the furniture is modern and in keeping with the décor, with the beds made up, and simple accessories like fresh flowers are provided. If you are letting your property as furnished only it is recommended that you supply furniture, new linen, all kitchen utensils and lighting. They should be of reasonable quality and the property should look clean, crisp and uncluttered. We can advise you on the likely tenants for your property and any additions you may need to make as well as how regulations may affect you.

Personal items, ornaments etc.
Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those of real or sentimental value. All cupboards and shelf space should be left clear for the tenant's own use. Any property left in lofts, cellars, locked rooms or locked cupboards will not be inventoried by the clerk and will therefore be the sole responsibility of the landlord. You should prepare an inventory of property to be stored and leave a copy of this with ffields.

Meters & Stopcocks

Please advise us of the locations of all meters sited anywhere other than in the property and if in a locked cupboard or box, indicate where the keys are to be located. Stopcocks, immersion heaters and pump switches should be labelled clearly by means of tie-on labels.

Appliances
The cooker, washing machine, dryer, dishwasher, waste disposal and heating system should be in good working order, serviced and clean. If the property is vacant, the fridge and freezer should be defrosted and left with the door open. Service contracts, particularly for central heating, are strongly recommended and can avoid potential disputes and costs. Information and instruction manuals should be provided. We do not recommend that stereos and televisions are left, as liability for repairs and rental rest with the landlord. When a television licence expires the responsibility for the fee is the tenant’s. Whether or not a television is provided, an aerial is essential.

Instruction Manuals

Please ensure that these are left for all electrical appliances, the cooker, central heating system and burglar alarm. Failure to provide these could result in unnecessary charges to your account as some are required by law. We also suggest that a copy of the gas safety record is kept here, along with relevant and useful information for the tenant, e.g. on operating the central heating and hot water system, washing machine and alarm system, and the day refuse is collected etc.

Burglar Alarms

Clear instructions must be given where burglar alarms are installed. A 24-hour service contract for the system is advisable. Key-holders and the local police should be advised of arrangements.

Gardens
Gardens should be left neat, tidy and rubbish free, with any lawns cut. Tenants are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools. However they should not be expected to be keen gardeners, and if you value your garden, or if it is particularly large, you may wish us to arrange visits by our regular gardener.

Special Care Items
Any appliance or piece of furniture needing special care should be detailed for the inventory clerk to highlight in the inventory. Please therefore detail any particular items and the care required that should be brought to the attention of the tenant. If a particular type of cleaning agent needs to be used this should be detailed, or if the toilet is pump activated, this should also be pointed out to the tenant. If the tenant is not properly informed prior to use it will be difficult for us to charge in the event of damage.

Cleaning
At the commencement of the tenancy the property must be professionally cleaned, including steam cleaning of any carpets and soft furnishings, before the inventory takes place and a copy of the relevant cleaning invoices should be either given to us or left with the instruction manuals detailed above. At the end of the tenancy it is the tenant’s responsibility to leave the property in a similar condition. Where they fail to do so, cleaning will be arranged at their expense.

Keys
The landlord should provide one set of keys for each tenant plus one set for ffields if we are retained on full management. We can arrange for keys to be cut if required. All other keys should be clearly labelled and left in the kitchen. Please advise us where spare keys are kept or hidden. All keys in our possession are coded for security.

The Inventory
It is most important that a professional inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of a tenancy. Without such safeguards, it will be impossible for the landlord to prove any loss, damage, or significant deterioration of the property or contents. Ideally the property should be vacated, clean and in order when the clerk turns up. We will be happy to organise an inventory on your behalf. A professional inventory is regarded as independent evidence even though it has been paid for by the landlord. Usually both parties agree to share the costs of checking the inventory at commencement and termination of the tenancy so these reports are also independent.

General Advice for Landlords

Mortgage
If your property is mortgaged, you should obtain your mortgagee's written consent to letting it out. This should be obtained in principle at the outset of marketing, rather than applying when a tenant is found. Some mortgage companies may charge an administration fee for issuing a consent letter. They may require additional clauses in the tenancy agreement of which you must inform us. We can advise on this and arrange for the application to be made.

Leaseholds
If you are a leaseholder, you should check the terms of your head lease, and obtain the necessary written consent from the freeholder or the freeholder’s managing agent before letting, making certain that the tenancy is for a period expiring prior to the termination of the lease. A fee will normally be charged and some special conditions may be imposed. We can advise on this and arrange for the application to be made.

Insurance
Most tenancy agreements make provision for the fact that the landlord is obliged to insure the contents of the property to their full value with a reputable insurance company for all risks covered by a normal householder’s comprehensive policy. You should ensure that you are suitably covered for letting under both your buildings and contents insurance. Building insurance is normally included in the service charge if the property is leasehold. You should make certain that all appropriate insurances are in place covering the full value of any loss during a tenancy, including loss of rent, as many household policies do not do so. The tenancy agreement provides for the rent to be suspended while the property cannot be used following a fire or flood. Failure to inform your insurers that you are renting out your property may invalidate your policies; furthermore an additional premium may apply. It is also worth considering taking out emergency cover insurance and legal expenses cover insurance. We can advise on and organise Landlords Legal Protection, Rent Guarantee Cover and Landlords Contents and Buildings Insurance if required.

Bills and regular outgoings
We recommend that you arrange for regular outgoings e.g. service charges, maintenance contracts etc. to be paid by standing order or direct debit. However where we are managing the property, by prior written agreement we can make payments of certain bills on your behalf, provided such bills are received in your name at our office, and that sufficient funds are held to your credit.

Council tax and utility accounts
We will arrange for the transfer of council tax and utility accounts to the tenant. Meter readings will be taken, allowing your closing gas and electricity accounts to be drawn up. If we manage your property we can arranged for these to be paid, providing there are sufficient funds. Services should not be disconnected. Please note that British Telecom (or other service provider) will require instructions directly from both the landlord and the tenant.

Income tax

Residents
Income tax must be paid on the net income from letting a property irrespective of where you live. When resident in the UK, it is entirely the landlord’s responsibility to inform the Inland Revenue of rental income received, and to pay any tax due. The letting income on which you will be taxed is the gross income less certain expenses incurred during the letting. These usually include

Loan interest

Insurance, ground rent and service charges

Cost of providing services included in the rent e.g. electricity, water

Legal and accounting costs

Costs of repairs, redecoration and renovation

Agent’s fees

There is also an allowance (10% of the annual rent) for fair wear and tear of furniture, fixtures and fittings which is applicable where the property is furnished and no charge has been made for damage to these items.

Taxable expenses include:

Cost of preparing a property for letting

Expenditure on initial furnishings or improvements to the property

Capital repayment elements of mortgages

Non-residents

Where the landlord is resident outside the UK during a tenancy, under The Finance Act 1995 and the Taxation of Income from Land (Non-Residents) Regulations 1995 Act effective from 6 April 1996, the excess of income over allowable expenses is subject to UK income tax. Unless an exemption certificate detailing an approval number from the Inland Revenue is held, we as landlord's agent are obliged to retain and forward to the Inland Revenue on a quarterly basis, an amount equal to the basic rate of income tax from rental received, less certain expenses. The exemption must be applied for by the landlord and is granted only at the Inland Revenue’s discretion. At the end of each tax year, your position must be resolved with the Inland Revenue, usually by submitting a UK tax return showing details of rental income and expenses. If you receive your rent gross and do not submit your tax return, your exemption may be withdrawn. An application form for exemption from such deductions is available from this agency, and further information may be obtained from the Inland Revenue.

Where a landlord does not have an exemption certificate and the agent must calculate the profit by deducting allowable expenses, it must be noted that only those expenses paid by the agent can be deducted i.e. mortgage interest, insurance premiums etc paid directly by the landlord may not be taken into account in the calculations. Losses in a quarter can be carried backwards to offset profits in a previous quarter within the same tax year only or forwarded to future quarters in the same tax years.

Capital Gains Tax

Capital gains tax may be levied when you sell your investment property. Always take professional advice but the following are unlikely to incur this tax:

Non-resident landlords

Those letting a former home for no more than three years

Those letting a former home when obliged to work elsewhere in the UK for no more than four years

Tax Tips

Under no circumstances should you conceal property income from the Inland Revenue

If you are non-resident, ensure you apply for exemption from the Inland Revenue so your rent may be paid gross; there is no advantage in delaying this.

Seek specialist tax advice from a reputable firm of tax accountants in order to take steps to mitigate your tax liabilities.

Retain all paperwork for rents, repairs etc and ensure the invoices clearly stipulate the nature of the work.

A detailed inventory at the start and end of each tenancy may avert disputes over ‘replacement costs’ which are allowable if no ‘wear and tear’ allowance is claimed.

Important Legal/Safety Requirements

The following requirements are the responsibility of the owner (landlord). Where you have signed our terms and conditions of business for full management, they are also our responsibility. Therefore where we are managing we will need to ensure compliance.

Annual Safety Check
Under the Gas Safety (Installation and Use) Regulations 1998 all gas appliances and flues in rented accommodation must be checked for safety within 12 months of being installed, and thereafter at least every 12 months by a CORGI registered engineer. As with the Fire Regulations non-compliance with the Gas Safety Regulations is a criminal offence, which if proved could result in a fine or imprisonment. Furthermore there is a duty to ensure that all gas appliances, flues and associated pipe-work are maintained in a safe condition at all times. An up-to-date gas safety record must be available to tenants and should be in place prior to the commencement of the tenancy where gas is supplied or to each existing tenant within 28 days of the check being carried out. The landlord is also required to retain records for a period of two years.

Health and Safety - Electrical
Under the Electrical Equipment (Safety) Regulations 1994, and certain other regulations, electrical appliances and equipment between 50 – 1000 volts a/c provided in tenanted premises must be safe. To ensure the safety of electrical appliances in your property we recommend that a Portable Appliance Test (to include a visual wiring test) to be carried out before a tenant takes occupation. Preferably you should have a full electrical inspection which includes a full wiring test carried out before the property is let and once every 4-5 years thereafter. A PA Test should be carried out annually and all tests should be carried out by an NICEIC registered electrician.

Consumer Protection - Fire
The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (as amended in 1993) state that specified items supplied in the course of letting property must meet minimum fire resistance standards. The regulations apply to all upholstered furniture, beds, headboards and mattresses, sofa-beds, futons and other convertibles, nursery furniture, garden furniture suitable for use in a dwelling, scatter cushions, pillows and non-original covers for furniture. They do not apply to antique furniture or furniture made before 1950, bedcovers including duvets, loose covers for mattresses, pillowcases, curtains, carpets or sleeping bags. Items manufactured after March 1989 should have a suitable permanent label attached to show compliance. Non-compliant items must be removed before a tenancy commences. We are unable to market your property if the furniture does not comply with the law, furthermore if caught you are at risk of facing imprisonment up to six months and/or fines of up to £5000.

Smoke Alarms
All properties built since June 1992 must have been fitted with mains powered smoke detector alarms from new. Although there is no legislation requiring smoke alarms to be fitted in other ordinary tenanted properties, it is generally considered that the common law 'duty of care' means that landlords and their agents could be liable should a fire cause injury or damage in a tenanted property where smoke alarms are not fitted. We therefore strongly recommend that the landlord fit at least one alarm on each floor (in the hall and landing areas).

Water Industry Act 1999

Landlords should be aware that where payment of the water rates is made the responsibility of the tenant, the tenant has a statutory right to have a water meter installed which when fitted, is irrevocably supplied with metered water whatever the economics of the situation. If rent includes water services this right does not apply.  

The Legal Position

In 1988 the Government introduced the Housing Act in an effort to attract landlords back to the private sector. The Act gave rise to two new types of tenancies, an Assured and an Assured Shorthold Tenancy (AST). The most popular of these is the AST as it guarantees the landlord has the right to possession, whereas with the Assured Tenancy possession by the landlord may only be obtained on certain qualifying grounds. When the AST was created it was fraught with problems and many landlords fell foul of its strict regulations thus creating an Assured Tenancy by default. The 1996 amendments to the Housing Act simplified the method to create an AST, and since 28th February 1997 all tenancies which meet the criteria of the Housing Act 1988 are automatically ASTs. Knowing that possession for a landlord is guaranteed under an AST, there is no advantage to a landlord to offer an Assured Tenancy.

The form of the agreement will be determined by the personal situation of the landlord and the tenant. Our tenancy agreements are carefully worded to comply with the Housing Act 1988 (as amended 1996) or where a non-Housing Act tenancy is arranged to follow contract law.

Housing Act Tenancies

The following criteria must be met to create an Assured Shorthold Tenancy:

The tenant must occupy the property as their main or principle home. In the case of joint tenants at least one of them must do so.

The rent must not exceed more than £25,000 per annum.

The landlord must not enjoy Resident Landlord status.

The tenant must be an individual.

An AST can be for any duration, for a fixed term or periodic, although the court will not grant possession under six months.

Tenancy Deposit Scheme (TDS)

From 6th April 2007 all tenancy deposits taken by landlords/agents in relation to ASTs in England and Wales will have to be protected in one of three government backed schemes. There are two types of scheme; custodial and insurance backed. Both types of scheme will be supported by an alternative dispute resolution (ADR) service in order to minimise the amount of disputes ending up in court. Landlords/agents who don’t protect deposits under one of the three schemes will not be able to regain possession of the property using the ‘notice only’ ground for possession (section 21). The landlord also risks court action whereby they will be forced to refund the deposit to the tenant or pay it into one of the schemes. The landlord will also be ordered to pay three times the deposit amount to the tenant as compensation.

    Insurance backed scheme: The tenant pays the deposit to the landlord/agent, who then protects it for the duration of the tenancy. There is a charge for this, which is borne by the landlord. The deposit is then returned at the end of the tenancy.

    Custodial scheme: The tenant pays the deposit to the landlord/agent, who then passes the deposit onto the custodial scheme. At the end of the tenancy, if the landlord/agent and tenant agree, the deposit is refunded or apportioned accordingly. This scheme is free.

    Disputes: At the end of the tenancy both parties must consent to lodging the dispute with the ADR. Evidence must be submitted (including tenancy agreement, inventory, check in and check out documents and any photographs) for the ADR to consider. The ADR’s decision is binding. In the absence of mutual agreement the dispute will go to court. It is therefore imperative that at the beginning of the tenancy a comprehensive inventory is prepared by a reputable independent inventory clerk. Tenants should be checked into the property at the beginning of the tenancy and checked out at the end to minimise the risk of disputes.

Possession Procedures

Under an AST the landlord is guaranteed possession by the court at the end of the tenancy. The only obligation on the landlord is to serve at least two month’s written notice on the tenant. If the tenancy is fixed term this must not expire before the last day of the tenancy, if periodic then the notice must not expire before the end of the last day of the period of the tenancy. If, after expiry of the notice the tenant refuses to leave the property, there is a quick and easy solution open to landlords under the Accelerated Possession Procedure which does not require court interference. The six month rule for granting possession is not applicable where a landlord is seeking possession under one of the eight mandatory grounds under Schedule 2 Part 1 of the Housing Act 1988. The most common of these is ground 8, whereby the tenant has fallen into arrears with the rent, and if the rent is at least two months in arrears at the time court proceedings are served and at the time of the court hearing, possession is mandatory.

Non-Housing Act Tenancies

Not all tenancies meet with the above criteria for an AST and it should be noted that these are not governed by the Housing Act 1988 and therefore are subject to contract law.

Company Let

Many tenancies in Central London are taken in a company name. Agreements tend to incorporate a break clause, allowing the tenant to terminate the tenancy upon giving a certain amount of notice, and giving an option to renew for a further amount of years, with a provision to increase the rent in line with the Retail Price Index, or a specified amount. There is usually a specified occupant in the agreement although the tenant may reserve the right to change this subject to the landlord’s approval. There is no limit to the amount of rental for a company let.

Advantages of a Company Let

A bona fide company has no security of tenure and hence cannot become a sitting tenant.

A company tenant may not try to reduce the rent through statutory intervention.

Rental payments are often made quarterly or six monthly in advance.

The financial status of a company is often more secure than that of an individual.

Company tenants often require long term lets.

Disadvantages

A company tenancy must be to a bona fide limited or public company only. A partnership would not come under this classification.

If the tenant is a foreign government the diplomatic status of the occupant must be ascertained. Breach of contract cannot be enforced upon someone with diplomatic immunity.

A tenancy to a foreign company not registered in the UK could lead to expensive claims through foreign courts for unpaid rent or damages.

Common Law Tenancies

Where the rent exceeds £480 per week and the tenant is an individual, the principles of contract law will apply. As with company let tenancies if it is for a fixed term then the tenancy ends on the date in the agreement and no written notice need be served. The common law tenancy does not give a tenant any additional rights and the rules for repossession are similar to those for company lets. There are no mandatory grounds however and possession is granted at the discretion of the court. A landlord seeking possession when the tenancy is periodic must serve a Notice to Quit (Protection from Eviction Act 1977), which is in a prescribed format.

Rent Arrears and Repossession

If a tenant fails to pay rent on time or we become aware of another breach of the tenancy agreement we will inform you. If it is necessary to instruct solicitors the landlord should choose and instruct his own. If we are required by the landlord to take legal action to recover any sums due, take possession of the property or to instruct solicitors or represent the landlord in any proceedings or at any hearing of any Rent Assessment Committee, court or tribunal it will be subject to an appropriate fee. Insurance to cover legal fees is obtainable at minimum cost and we recommend that this is taken up by the landlord.

Renewing the Tenancy

It is not unusual for a renewal clause to be included in the tenancy agreement. The clause usually links any rental charge increases to the RPI and limits percentage increases by a minimum and maximum. If a clause is not included the rent may be included beyond these limits although it is usual to keep within current market value. Adequate time should be allowed for negotiations and paperwork.

Range of Services

ffields has a wealth of knowledge within the property market and we will endeavour to ensure that it will be occupied by a reliable tenant who will take care of your property. We are committed to delivering a high standard of service to private and investor landlords alike. We recognise the importance of a personal, informed and dedicated letting and management team and we constantly strive to provide excellent customer service.

Marketing

Once instructed we will embark on a rigorous marketing campaign to ensure your property receives maximum exposure. As well as placing your property on our easy to navigate and highly informative website, we also advertise extensively on www.rightmove.co.uk and in the major property magazines and newspapers, as well as in the classified sections of the daily press. We accompany applicants to every viewing and our flexible approach means we are able to offer viewing times to suit the tenant.

Furnishing and Refurbishment Services

The highest market rents are achieved by properties in pristine condition. They attract the best tenants and do not suffer from expensive void periods. After your property has been let for 2-3 years wear and tear will begin to show. We will be pleased to advise on and arrange for estimates for economical refurbishment and replacement furnishings and can offer the following services:

Complete redecoration of specified rooms or the whole property.

Complete furnishing of the property or sourcing of particular items.

Arranging for linen, kitchenware etc.

Arranging accessories e.g. lamps, artwork.

Lettings and Management Services

Full details of our range of services and fees are available in our terms of business which accompany this guide.

We will endeavour to find a suitable tenant for the property on or as near as possible to the landlord’s required terms of letting.

We will carry out all advertising and applicant selection, prepare a tenancy agreement, arrange the tenancy and collect the initial rent and deposit before handing over to the landlord for the duration of the tenancy.

Negotiators often view a property with prospective tenants in mind, using their experience to match home to tenant. They are always aware of companies who will be needing property for staff relocation.

Prospective tenants are taken in courtesy cars to view selected properties, accompanied by a negotiator. If the property is occupied, all visits are strictly by appointment with the current tenant.

We will obtain appropriate references and supply them to the landlord when received. Any charges made for bank references or company investigations will be payable by the tenant.

On receipt of the first payment of rent, the deposit, the signed tenancy agreement and confirmation from the landlord as to consents for the lettings, we will arrange for an inventory to be taken and possession to be given to the tenant. We will also arrange for the inventory to be checked at the termination of the tenancy.

Where we are not demanding rent throughout the tenancy, the tenancy agreement will require the tenant to pay the rent to us until sufficient funds have been received to clear our outstanding fee account.

We will hold the deposit, as stakeholder on the terms laid down by the tenancy agreement.

At the commencement of the tenancy we will arrange for the relevant utility and council tax accounts to be put into the tenant’s name and at the termination of the tenancy apply for them to be transferred back to the landlord’s name.

Lettings and Rent Demand Service

This service encompasses all of the above as well as demanding rent monthly or quarterly on behalf of the landlord. We will use every reasonable endeavour to collect the rent and after clearance of the cheque, will account to the landlord for the net amount after deducting our commission and withholding any tax as appropriate. Rents are paid to the landlord’s account by BACS within 5-11 working days and statements are sent periodically if required.

Arrears Procedure

In the event of arrears, we act quickly and efficiently and although we are not liable for the rent our finance department will flag up any discrepancies and take immediate action. We are experts in the management of ASTs and we have a robust rent arrears policy and an in-house legal team, allowing us to instigate legal action against tenants who fail to pay their rent or who damage properties. Our qualified staff are able to complete court paperwork and attend court hearings. We act swiftly ensuring that income loss is kept to a minimum. Our ability to offer these services puts us in a unique position, in that we can offer a service that most conventional estate agents are unable to do, but for the same price. This also means that you may save significant sums of money that you might normally have to spend, should you have to take independent legal advice concerning issues with your tenancy.

Property Management Service

Full property management is a simple and economic way to ensure the smooth running of a tenancy, while protecting the property. We can deal with all maintenance from fixing a dripping tap to complete refurbishment using our large and highly efficient in-house maintenance team. Our prices are therefore extremely competitive and we have a bespoke 24/7 callout service. We will pay all ground rents, insurance premiums and service charges from the rental income or float. We will organise all running repairs and replacements for which the landlord is responsible up to a maximum of £300 per item. We will obtain estimates for any necessary repairs or replacements likely to cost more than £300 and submit them to the landlord for approval before undertaking the work or purchase. We will carry out annual inspections and we offer vacant property management which will automatically commence, subject to instruction from you to the contrary if the property is vacant for more than 28 days prior to letting or re-letting.

Commission Rates and Other Charges

For a detailed breakdown of all rates and charges please refer to our terms of business. 

Pimlico Property Rentals
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Pimlico Lettings, Pimlico Landlords, Pimlico Property Management and Pimlico Lettings FAQs 

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