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SERVICES
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Landlord Information
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For many people, the letting of a residential property can be a daunting prospect, as there appears to be many pitfalls.
The new act of licensing your property for renting purpose and requirements of licensing authority can be obtain from our office as well as the new deposit scheme that will be introduced in October 2006.
Whether your decision to let a property is based on necessity or commercial enterprise, you will always be best advised to seek professional help.
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The Oxford Letting & property Management, having a detailed understanding of the letting market, can provide advice to those people who are letting their home for the first time.
For those individuals or companies who have an existing residential portfolio, OLPM can provide a sliding scale of management charges to suit the individual's needs, depending on the size of the portfolio.
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OLPM is therefore able to offer three types of letting service - "Full Management” ‘Letting only’ or "Introduction".
In both instances The OLPM specializes in "Fast Track" letting. Providing certain criteria can be met, your property can be occupied by the right tenant within 2-3 days. There is no additional fee for this service. Please ask for details.
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Full Management Service
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This service provides:
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- Rental appraisals - up to date advice on the potential rental value of the property.
- Introduction of the tenant, to include obtaining all necessary references - this is completed "in house" to reduce void let times.
- Setting up of Standing Orders and the processing of rents received.
- Preparation of the periodic statement of account.
- Payment of rent into client's UK bank account.
- Payment of outgoings by arrangement.
- Co-ordination of repairs/refurbishments at the property as authorised by the landlord using our professional contractors or the Landlord's preferred contractors.
- Co-ordination of inspections of the property.
- Arranging additional insurance cover for rent protection and legal costs where applicable.
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Rental Valuation
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In order to attract a good quality tenant and the best rent, it is vitally important that the property is well presented.
The OLPM is happy to provide advice in this respect. In addition, we will be able to advise you on whether to let the property furnished, part furnished or unfurnished.
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We are also able to offer you a comprehensive furnishings or decorating service, tailored to your individual requirements.
The OLPM strongly believes that only well presented properties will attract the best tenants and achieve the highest rental income. We believe that a small financial outlay at the beginning can often result in a higher rent being achieved.
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Introduction Tenant: One of the main requirements for a successful and trouble free letting is a good tenant. Once we have been instructed to let your property, we will match it to our applicants register and also advertise within local press. In addition, your property will be on a property list, which is freely issued to all potential tenants and sent to our specially selected associated agency outlets.
All prospective tenants are required to fill out an application form and references will be taken up whether we are acting as managing agents or not. Obtaining references etc. can take time and it is important that the property is made available to us as soon as possible.
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We obtain references from (where applicable).
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- Employer (accounts of self employed)
- Bank
- Previous Landload
- Personal
- Credit Search
All of which are carried out "in-house" and not outsourced, thus considerably reducing void let times.
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Preparation of Agreements
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Our agreements are approved by the majority of banks and building societies and comply with all the current legislation. There is also provision for any potential changes in the legislation that may occur in the future. If necessary we can arrange for individual tailor made agreements to be written by solicitors. However there is an additional fee for this service.
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Deposits
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Prior to the commencement of a tenancy, The OLPM requires the tenant(s) to pay a Dilapidations Deposit, normally equal to a minimum of six weeks' rent. Once an inspection has been made at the end of the tenancy, and subject to everything being found to be in order, this is then returned to the tenant. The new deposit scheme starts October2006.
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Inventory and Inspection Checks: One area which can cause problems between Landlords and Tenants is the Inventory/Schedule of Dilapidation. On this basis we use, an Independent company, for the preparation of the above documentation.
An inventory is essential in order to accurately assess the condition and contents of the property. This document can be used to monitor the property during the period of the tenancy up until its termination.
Inspections and the checking in and out of tenants is also handled by Oxford Letting & Property management.
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Planned Property Maintenance
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The majority of property owners leave maintenance until something goes wrong, and this can create substantial bills. A program of planned property maintenance is a service we are able to offer our Landlords. This would involve an inspection of the property by our Maintenance Division, who would highlight the areas requiring repair and attention as well as providing an indication of how best to phase the repairs and/or improvements and the associated costs. Our maintenance team comprises of corgi registered plumbers, fully qualified & registered electricians and painters decorators.
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Emergency Repairs
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As you will see from our Landlord Information. Should a repair become necessary which exceeds this limit we will arrange for a number of estimates/quotations. These can be submitted to you for your approval. It must be appreciated that on some occasions extremely urgent matters arise which require instant attention in order to protect your property from further damage. Our office is open Monday to Friday – 9.30am to 5pm and Saturday 10am to 1pm, and it is vital that you provide us with a contact telephone number in case of emergency.
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Securing the Property
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To secure your ideal property we require a booking deposit of £300 Pounds in the form of a personal cheque or cash.
In the event of you withdrawing, the application fee will not be returned. If the landlord is unable to proceed, the application fee will be returned in full.
In the event of a tenancy being declined due to insufficient references, adverse references, or credit checks, the application fee will be returned less an administration charge.
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When Can I Move In?
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The Oxford Letting & Property Management specialises in "fast track" letting. It is possible for you to move in within a few days, providing we do not have to wait for cheques to clear or references to be returned. Please enquire about our "fast track" service if you need it. There are no additional fees for this service. Our normal move in schedule is 7 days.
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References
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We require references (where applicable) from your:
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- Employer (accounts for self-employed - please enquire)
- Bank
- Previous Landload
- Parents or Guardian
- Personal
- Credit Check
if you can speed up the return of these documents you will be able to move in faster.
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Costs
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- Oxford Letting & Property Management will require the following in the form of a banker's draft or cash or building society cheque (personal cheques must be cleared first) prior to the start of the tenancy.
- One month's rent in advance.
- A deposit equivalent to 6 weeks rent. This is refundable at the end of the tenancy providing the terms of the tenancy have been met; the property has not been damaged and has been left in a clean and satisfactory state.
- An arrangement fee will be charged, the OLPM can confirm this cost.
The remaining rent will be collected by standing order from your bank or building society.
It is also possible to pay the full rental in advance. Please enquire for details.
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Tenancy Term
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This is normally 12 months or 6 months, during which period you will be liable for the rent.
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What's Included?
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This varies from property to property, please enquire when you have selected the property you wish to view.
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Any Other Questions?
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Our dedicated staff are trained and have years of experience. Please call if you have any other queries.
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Contact
FAQs
