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A GUIDE FOR LANDLORDS |
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MERIDIAN PROPERTY MANAGEMENT
is a member of the NAEA, the National Association of Estate Agents. This means we have the backing of a highly organised industry body with all the benefits and services that this entails. The NAEA also have a strict code of conduct aimed at promoting a high standard of service to both Tenants and Landlords alike. These are standards which we will always adhere to ourselves, allowing us to bear the proud title of NAEA member.
Our company Meridian Property Management has been established since 1995 dealing with numerous properties ranging from 1 bedroomed flats to multi bedroomed detached houses. Our aim is to provide a service, which will result in trouble free leasing for the landlords. Newspaper advertising on request. Regarding repairs, all landlords will be notified of any repairs required and then have the option of either dealing with them independantly or referring them to our own registered contractors, who will submit a quote for any work deemed necessary. Permission will always be sought from the landlord for any work undertaken. In the event of an emergency outside working hours, i.e. gas leak, fire or flood, a contact number will be provided. We are in constant contact with the tenant(s), to ensure that all due monies are paid directly to our offices. All complaints or queries are dealt with by our office inconjuncton with the Landlord/Lady. We have several options of payments, once cleared, the landlord will receive monthly payments by cheque. Meridian Property Management has established itself as one of the leading letting agencies n the Bradford area. Our office is situated in a strategic location to provide us with a sound base from which to serve the community. As well as lettings and management we can offer a comprehensive insurance service. Our letting department has beenestablished over a number of years. The department believes in offering a quality service unmatched by other agents. Our services are designed to put the landlord first and to ensure the successful management of your property. TENANTS Finding the right tenant for a property is fundamental. We start by establishing with yourself, criteria for the sort of person you wish to occupy your property. We then match this to prospective tenants who must provide us with references. Only after checking these references will we then proceed with a tenancy. It is our recommendation that the landlord meet prospective tenants. When dealing with private tenants we take references usually from their employer and bank. Payments are due every calendar month, in advance starting from the commencement of the lease. We do encourage tenants to pay their rent by standing order, if however they pay by cheque we must allow time for this to clear our bank before forwarding payments to yourself. RENT When we initially assess a property we indicate what we believe to be a realistic rent. Propective tenants usually accept this figure but there may need to be some room for negotiation. DEPOSITS We request a deposit on all tenancies,for private tenants the deposit is equal to one months rent. Deposits are held to help ensure a tenant looks after the property and as a safeguard against unpaid rent. Deposits are refundable at the end of a tenancy only if the tenant has vacated the property and providing the property and their account are in order. Commencement of Tenancy The tenancy commences on the date shown on the lease. Prior to the tenant moving in, we will carry out an inventory of the property, with a rief description of its ccondition. We then send a copy of this inventory to yourself and the tenant to ensure agreement. Tenancies All new tenancies commence with a minimum six months and maximum twelve months assured short hold contract. Should the tenant wish to leave the property they must give one months notice, however if you require possession of the property, you must give the tenants two months notice. End of Tenancy Once a tenancy comes to an end we make arrangements to meet the tenant at the property. We inspect the property again and insist on finalised utilty bills as proof of payment. The deposit is refundable to the tenant once we are convinced that everything is in order. If you wish you could inspect the property before the deposit is refunded, this must be done within a few days of the tenant moving out as the tenants are often eager for the refund of their money. If for any reason there are any disputes with how the property has been left, the first course of action is to give the tenant an oppotunity to rectify the problem. If the tenant does not rectify the situation we can then make a deduction from the deposit. (valid estimates must be obtained indicating the exact cost of repair) Failing agreement between the landlord and the tenant, we will act as arbitrators. We will aim to resolve the disagreement as quickly and amicably as possible. Our decision is final. Both parties must abide by our judgement. Inspections We conduct regular inspections of all tenanted properties. These inspections serve numerous puposes, they allow us to visit the tenant in the property and ensure they are looking after it. We also check for signs that something may be wrong with the property, if something needs attention we can then inform you as soon as is practical, helping to reduce the risk of the problem becoming worse and the cost scalating. These visits also help us get to know the tenants better, so that when the lease is due for renewal we can be confident in the advice we give you. Repairs Every property at some point will need some work doing to it. If something goes wrong and we get a call from the tenant, we then contact you. In the majority of cases the problem can be resoved quickly, however, there are two important points to remember, firstly, if a serious fault does occur (water burst/ flood) and we cannot contact you, we can authorise a repair up to the cost of two hundred pounds. Authorization of this is contained within the sole agency agreement you signed. Secondly, once a property is tenanted you do have an obligation to ensure it is well mantained. carrying out repairs quickly is often as important for you as it is for the tenant, after all, repairs caught early enough can save you a lot of money. Remember tenants do have rights, the tenants can contact the environmental health if repairs are not being attended to quickly, the ensuing enforcement order could include extra repairs and significantly higher bills. They will carry out work not done and they will add a hefty additional charge on top of the repair bill. *In the Landlord and Tenants Act 1985 under section 11, it is implied as a convenience in the tenancy agreement that the landlord is:
These regulations require that all furniture or soft furnishings supplied by landlords or agents on the course of business comply with the current safety regulations. To comply, the furniture or furnishings must carry the appropriate label. If there are no labels then the landlord must provide proof of compliance such as confirmation from the manufacturer. Our company policy requires that all suspect furniture is removed prior to letting. Gas Safety(Installations & Use)Regulations(as amended) Installations and appliances must be checked for safety. Records must be issued. A CORGI registeres contractor must carry out these checks. It is illegal for anyone who is not CORGI registered to work on gas appliances. A copy of a Gas Safety Certificate must be given to all tenants prior to tenancy commencement. (Usually at signing of agreement) if the certificate is renewed during the term , then a copy must be forwarded to the tenants within 21 days of issue. A copy of each Gas Safety Certificate must be kept for a period of two years. Electrical Equipment(Safety)Regulations 1994 There are many laws and regulations governing the safety and installation of electrical equipment, such as:
Annual PAT's are recommended. Alarms It is recommended that all properties should be fitted with at least two smoke alarms. Whilst this is not a legal requirement, failure to take adequate precautions (such as fitting smoke alarms) could lead to a landlord being prosecuted if something untoward did happen. Smoke alarms are inexpensive and are easily fitted, they can and do save lives. Once installed these devices should be checked on a regular basis. If your property has gas appliances then you may wish to consider the installation of carbon monoxide sensors (these detect the build up of dangerous gases) These units cost a little more than a smoke alarm, but agan serve a very useful purpose. Terms and Conditions In the event of all parties being satisfied to the suitability of a prospective tenancy, our charges are as follows: Initially, we charge a letting fee of £150.00 per property on the completion of a Tenancy Agreement. Thereafter a management charge of 10% of the rent collected or £10.00 per week, whichever is the greater, and for overseas landlords a charge of 12.5% or £12.50 per week. |