If you have a property within are the NG2, NG11, NG12 postcode areas that you are considering letting, please call to arrange a free appraisal. Belvoir Derby East will visit and conduct a comprehensive assessment of your property’s needs. We will discuss your desired tenant type, the style of marketing that best suits your property, the long-term aims you have for your property, and the ways in which we can optimise your rental income.
Considering letting your property? Potential benefits include:
- Excellent capital growth
- A regular monthly income
- Excellent contributions towards your pension planning
- Future financial stability for your family
Before you enter into any agreement, there are some important questions that you will need to think about:
- Will my current mortgage provider allow me to let my property?
- What are the facts and figures for tax on my rental income?
- How can I achieve the best returns on my property investment?
- What would happen if I suddenly needed the use of my property?
- What are the long-term goals surrounding my property investment?
These are all important issues, and being prepared to help you make the right decisions is one of the many ways that we set ourselves apart. If your needs require the assistance of wealth management experts, we are able to provide you access to some of the UK’s finest and most experienced experts in this field. We will work alongside you every step of the way to help you to plan for the future of your investments.
We will provide a suggested market rental price for your property, considering local market conditions, the type of property you wish to offer, and the speed you wish to see it rented at. Our promise to you is that this will be a fair, expert appraisal of what you can expect – not an over inflated price designed to secure your business. Our integrity is crucial, so you know that we are always working in your best interests. All client monies are protected in separate accounts, in line with the law and industry best practices, whilst our team diligently ensure that your tenants pay rent on time, every time.
A deposit is collected from the tenant as a safeguard against any damage to your property. This deposit is held in a government approved custodial scheme. Importantly, we will prepare for you a detailed and highly accurate inventory and condition survey of your property. This document will aid both you and your tenant to be clear on the condition of your property on the date that your tenant became a resident. When the tenancy comes to an end, your property will be inspected with the same document in hand. Any work required at the fault of the tenant may be deducted from the tenancy deposit on the agreement of all parties involved. In the case of dispute, we will assist both the landlord and the tenant with evidence with the aim to settle any disagreement as fairly and swiftly as possible.
You, the landlord, are the one who remains in control of the tenancy of your property. We use some of the most enhanced referencing procedures available within the industry. Our referencing looks beyond credit scores, as they only offer part of a story. In order to save you time, money and stress in the future, we do everything possible to ensure that your property has the right tenant. All information that we have gathered is then presented to you, so that you can make an informed choice.
Tenancy agreements and other key documents completed with Belvoir are checked rigorously to ensure their compliance with legislation and any changes in legislation. You can rest assured that the maximum possible protection has been made available to you. Our initial agreements run for an initial 6 months and are tailored to your particular circumstances. After the initial period, the tenancy agreement can become one that exists on a month-to-month basis, or move to a further fixed period. This is all subject to your wishes and on the agreement of all parties involved.
Rates and Services
While the tenant is occupying your property, the payment of council tax, water rates, gas, telephone bills, and electricity are usually the responsibility of the tenants. Please let us know as soon as possible if this is not the case with your property.
With the exception of window glass or damage caused by your tenants, the landlord is responsible for any repairs required for the property. Belvoir can provide lists of trusted tradespeople for any repairs that are required, or you can nominate your own. Whether you choose one from our list or one of your own, Belvoir will work with you and your tenant to arrange everything necessary for maintenance and repairs.
There are a range of items that are normally tax-deductible from rent received on a rental property. These include:
- Charges and management fees payable to Belvoir
- All costs relating to fair wear and tear and repair
- 10% of rent towards depreciation, (if the property is let part furnished or furnished).
- Mortgage interest paid to the provider
- Property related Insurance premiums
Income tax is then payable on the remainder of the rent. Further, comprehensive tax services can be arranged for you through our exclusive wealth management partnership.
Our partnership with Let Alliance allows our clients access to comprehensive and competitive rent and legal protection insurance. Also available are house building insurance and home contents insurance cover, because we understand that your most valuable asset needs the best protection available.
A full breakdown of our fees is available below.
SCALE OF LANDLORD CHARGES
All charges include VAT unless stated otherwise
Let Only: £480.00 inc VAT payable for each letting to a tenant introduced by The Agent. Payable on commencement of tenancy and deducted from the rent collected at the commencement of tenancy.
Full Management: 10% + VAT (12%) of monthly rent plus an administration fee of £240.00 payable at the creation of a new tenancy (new tenants)
- Inventory preparation fee: Included - Fully managed service only
- Deposit protection legislation: Registration included for first annual deposit scheme registration (or part thereof). Thereafter from £16.20 per annum (or part thereof). Charge is subject to review based upon scheme renewal premium.
Any other work chargeable at our professional hourly rate.
Preparation of paperwork for
- Alternative Dispute Resolution: £54.00 per hour
- Duplicate statements: £6.00 per copy provided
- Professional hourly rate: £54.00 per hour
- Tenancy Re-signing fee: £0.00 for existing tenancy renewals
- Void management fee: £24.00 per week payable four weekly in advance of requirement. This service is available by prior agreement.
- Post Letting Service: Inclusive with our “Full Management” service
- Tenant move out: Only available with "Full Management" service
- Inventory check: Only available with "Full Management" service
All prices are subject to change after two months’ written notice.
Where Full Management or Letting and Rent Collection service is cancelled during the tenancy (including any extensions) a fee of 50% (60% inc VAT) of one months’ rent will be payable, and The Agent agrees to deliver up a vacant property by serving the appropriate notice on the tenant.