Landlord Property Management Fees

At My Homez, we have a simple approach to property management. Our aim is to provide a comprehensive, ‘one-stop’ management service that takes the worry and hassle out of letting residential properties. We achieve this by not just dealing with some areas relating to the property but by taking responsibility for all aspects of the letting, including minimising vacant periods and maximising rental income.

Landlord's peace of mind is maintained through regular communication, keeping you informed of the important issues affecting your property and tenants.

Listed below are the typical services that would be included in our standard package.

This has been designed to cover almost all management eventualities and is suitable for the vast majority of landlord and property types.

Should you however require any form of customisation to make the package more attractive this can easily be catered for?

Major Features:

• Assisting the landlord in providing a quality property for let (i.e., providing correct furniture and meeting legislative requirements)
• Providing electrical and gas safety checks as required by law (costs to be borne by Landlord)
• Complete marketing of property, ranging from signs in windows to regular mail-outs and inclusion on Website
• All viewings and negotiation with prospective tenants.
• Vetting of prospective tenants including taking references.
• Preparation of inventory of goods/condition of property and all other legal documents.
• Transfer of utility and council tax accounts into tenant's name.
• Collection of rent and service charges throughout the tenancy.
• Regular inspections of the property with reports to the landlord.
• Monthly/quarterly transfer of rent to landlord with Statements of Account.
• Organization and inspection of any repairs required to the property (any works over a pre-arranged limit to be approved by landlord).
• Payment of any bills (i.e., Council Tax, Utilities, etc) associated with the property.
• 24 hour emergency service to ensure that no work is carried out to your property without our approval.
• Instigation and administration of any insurance claims relating to the property.
• End of tenancy administration including any necessary repairs/redecoration and deposit deductions/refunds.
• Immediate re-listing of your property for continued marketing.
• Re-negotiation of rent at tenancy change-over/extensions.
• Property finding service - for Landlords wishing to extend their portfolio.

As mentioned My Homez operates a very flexible approach and would be happy to discuss altering the package to meet any Landlord’s individual requirements.

In keeping with our aim of providing a 'one-stop' management service we have ensured that the majority of costs are included in the monthly management fee.

This and all additional costs are shown below:

Initial Letting Fee: £100

This fee includes all services provided until the property is let. For example, production of marketing materials, preparation of inventory, ensuring all legislation is met, property viewings etc. Unlike other management companies we do not charge for this service until the property is let. Therefore, if we cannot let the property there is no financial burden to the Landlord.

Monthly Management Fee: 10 % of Rent

This includes most of the management services detailed in (2), (collection of rent, instruction of repairs, property inspections etc) and is deducted from the gross rent before it is transferred to the Landlord.

Tenancy-End Fee: £100

This fee covers checking the inventory, organisation of any repairs/replacements and ensuring the property is in a proper condition to be re-let.

Re-Letting Fee: £75

Like the initial fee this includes all preparation and marketing of the property until a Lease is agreed and is not charged until that time.

Let Only Fee: 6 % of Rent

We will find you a suitable tenant for the property and oversee their move into the property. Once they have moved into the property the day to day management of the property would be left up to you, the Landlord.

LET ONLY: THIS SERVICE INCLUDES

• Tenant find
• Accompanied viewings of the property
• Tenant referencing
• Deposit and first month’s rent collection
• Tenancy Agreement provided and signed by both parties on commencement of tenancy
• Advice on all regulations required for successful lettings