Landlord Process


1Rental valuation

Your valuation and marketing appraisal is an important step in the rental of your investment, as is the property's value. One of our experienced valuers will assess the property whilst factoring in your needs and desired timescales. Rental values are affected by many variables and our advice will be based upon numerous factors including the location, number of bedrooms, recently let properties, the property's condition and the current local rental demand.

2Property management

Looking after a rented property is logistically more straightforward when you have responsible tenants and live locally. However, should anything go wrong, from a boiler breaking down to a water leak, it can become stressful and why you should consider a property management service. Our experienced Property Managers will manage the day to day demands of your tenants, ensure your property investment is well maintained and that your tenants abide with their tenancy obligations. Your dedicated Property Manager will also ensure that you adhere to over 125 pieces of Landlord legislation. We are proud of our extensive industry knowledge and we will always act in your best interests.

3Preparing your property for a tenancy

An initial decision to make is whether to let your property as furnished or unfurnished. Furnished properties will give a better visual impression to the prospective tenants on how the property will look, making it more likely to rent quickly. Should you opt to market an unfurnished property, as a minimum we highly recommend that you provide white goods (washing machine, cooker, fridge/freezer). Offering flexibility is key as a landlord and will broaden the appeal of the property to prospective tenants as individual requirements vary.

4Marketing your property

We provide maximum marketing exposure across a wide range of media channels, internet directories and property portals. Physically, our modern high street offices are strategically positioned in key locations and staffed with experienced teams who are ready to match suitable tenants. Digitally, our website is an interactive resource with excellent functionality for both Landlords and Tenants.

New properties are immediately uploaded and circulated, alerting matched tenants by SMS and email. In turn our website feeds the major property portals further exposing the property to the market. Our experienced Property Consultants personally match properties with their actively registered tenants and there is often an instant response to new property listings. Even in today's technology led society many of the tenants and landlords we encounter prefer in-person communication from a property professional. Our CRM has an extensive existing database of prospective tenants, there are frequently tenancies generated very quickly from this pool of tenants. Another effective marketing tool to utilise is one of our distinctive To Let boards. This highly effective advertising method has always generated quality enquiries and is a great visual reference for local tenants. The wider we expose your property to the market, the better opportunity there is to reach the largest selection of tenants which ultimately maximises interest and offers received.

5Receiving an offer

Once we receive an offer, we will relay that information to you, together with detailed information regarding the potential tenants. We check their situation, employment status along with details of who is intending to move in, and the fixed tenancy term.

6Offer agreed

Upon your acceptance of a suitable offer, you will receive formal written conformation outlining details of the proposed tenancy. Tenants will then be required to provide Alex Neil with their Right to Rent documentation and photographic ID which will be checked and copied, along with submitting their referencing information to our third-party tenant reference provider.

7References checked

All tenants will undergo thorough background checks. We use an independent reputable referencing company to report on their suitability and credit-worthiness, including their payment history on any previous lending and any adverse credit e.g. CCJ’s or bankruptcies. Their identity is also verified as is their right to live and work in the UK – We cover the Right to Rent checks including whether they are subject to any immigration control. If they have rented properties in the past, we will ask their Landlords to provide us with a reference. This information is provided by a variety of sources including credit reference agencies and is compiled into a report which gives a final credit score.

8Tenancy agreement & move in monies

Once all referencing is completed and deemed satisfactory, we will draft the Assured Shorthold Tenancy (AST) agreement for all parties to sign. We then ask the tenants to pay their first month's rent and security deposit. All deposits are to be protected in a Government approved deposit scheme.

9Tenancy Commencement

Our Tenancy administration team will contact all parties to make suitable arrangements 24 hours prior to the tenancy commencement. If you have opted for our Fully Managed service, an inventory Clerk will meet the tenants at the property to conduct the check in process. The meter readings will be taken and the keys will be photographed and then handed to the new Tenants. We will also retain a set of keys at our offices.

10Charges

Introduction Tenancy Fee 12% inc. VAT (10% + VAT) minimum charge £1200.00 inc. VAT (£1000.00 + VAT)
Full Management Fee 7.2% Inc. VAT (6% + VAT)
Tenancy Administration Fee £360.00 inc. VAT (£300.00 + VAT)
Renewal Tenancy Fee 9.6% Inc. VAT (8% + VAT)
Additional Property Inspection Fee per Visit (if required) £180.00 Inc. VAT (£150.00 + VAT)
Interest will be charged for late payment of fees 9.6% Inc. VAT (8% + VAT)

Alex Neil are members of CMP (Client Money Protect), a client money protection scheme.
Alex Neil are members of DPS (Deposit Protection Service), a deposit protection scheme.
Alex Neil are members of The Property Ombudsman. Membership number: N00018

Industry awards

Take confidence that you are engaging an award-winning agent as we’ve been recognised by allAgents and The British Property Awards. Five star satisfaction levels show that 97% of our previous customers thoroughly recommend us.

Property valuations

Establishing the sales or rental value of your property can be defined during our Property Appraisal and Valuation service. Our experienced valuers will advise you over pricing, the market, alongside a defined and proactive marketing strategy.

Tailored marketing

Our tailored multi-channel marketing approach encompasses exposure on our website and promotion utilising our social media channels. We further promote properties using the top property portals as we strive to achieve the best price.

Our credentials

Alex Neil are members of The Property Ombudsman Scheme, so rest assured your dealings are with a professional and regulated agency. Vendors and landlords can place their confidence in our buyer and tenant offer verification procedures.

Featured Properties

Fees

Tenant Information

Refundable Holding deposit - 1 weeks rent

Security Deposit 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent - The agreed monthly rent

Changes to tenancy - £50 inc VAT

Early termination charge - Not exceeding the landlord’s financial losses

Late payment of rent Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys - Reasonable costs

Utilities, council tax, communication services, TV Licence etc Tenants own responsibility unless otherwise stated

Client Money Protection Scheme Membership details Alex Neil are members of CMP (client money protect)

Property Redress Scheme Membership details: Alex Neil are members of The Property Ombudsman. Membership number N00018.