Welcome at Home

Landlord Fees

Landlord Fees

STANDARD FEES

Letting & Management

• Lettings only: 10%
Renewals on 1st 2 years’: 8%
Continuation period after renewals: 6%

• Property management only: 5%

• Lettings & Property management: 14%
Renewals on 1st 2 years’: 12%
Continuation period after renewals: 10%

Short Term Letting

Lettings under 6 months’ time period is considered “short lets”.
In the short-let agreements all the utilities bills are included in the rent price.

• Short lets and property management
between 3 nights to 30 nights 25%
of the price sold.
• Short lets and property management
between 1 month to 3 months 20%
of the price sold.
• Short lets and property management
between 3 months to 6 months, 15%
of the price sold.

These commissions will cover the property management and letting services provided by Welcome at Home including any cost related such as marketing, cleaning, lining, check-In/Out during those periods

Admin Fees

• Preparation of tenancy agreement: no charge
• Referencing Service: price per applicant: £60
• Deposit protection registration: £20
• Section 21 and follow up: £120
• HMRC Return for Non-resident Landlords: £300
• Annual Income & Expenditure Report: £150

OTHER FEES

Inventory

• Inventory check-in/out:
0-3 beds starting from £ 220
4 + beds in £ 360

Cleaning

• Professional cleaning, pre-tenancy and end of tenancy starting from £240

Plumbing

• Gas Safety Certificate: £130
• Boiler service: £90
• Gas Safety Certificate + Boiler service: £160+VAT

Electric

• Electrical Installation Condition Report (EICR) £300 + report
• Portable Appliance Test: £150

Compliance

• EPC Energy Performance Certificate: £150

Additional Admin

Attending property for Landlord needs, such as suppliers, meter reading, collection items bought, inspection requested: £50 per h.

Preparation of the property for letting (i.e. organising decoration, buying furniture, kitchen equipment, linen and towels, ordering curtains if required: £ 50 per hour.

Management of the works: when a major works would be required we are happy to assist the owner(s) proving quotes and supervision fees with report and photos of the jobs.
A 10% supervision management fee will be charged for jobs over £500 of the amount.

Insurance claim: when the property incurs in a damage we can prepare a report with evidences, provide quotes and contact the insurance on the LL’s behalf negotiating the compensation.
A 10% management claim fee will be charged on the susses of claim.
£250 will be charged in case of no covering insurance claim made.

Letting a property can be stressful. The rules and regulations landlords have to follow are continually changing, so to help you understandyour obligations this guide sets out best practice, along with practical advice to stay on the right side of the law.

WHAT WE NEED TO MARKET YOUR PROPERTY

✓ Signed Lettings Terms & Conditions
✓ Proof of identity
✓ Proof of address
✓ Valid Energy Performance Certificate (EPC) with a rating of band E or higher
✓ Valid Gas certificate (1 year)
✓ Valid EICR -Electrical Installation Condition Report (EICR) for Landlords
✓ Valid PAT -Portable Appliance Testing (PAT)
✓ At least one set of keys
✓ Contact details of any occupant to notify of viewings
✓ Confirmed availability date: (please allow a one day gap between tenancies for cleaning and inspection)

Welcome at Home offer a comprehensive management or lettings only service which is outlined below.

WELCOME AT HOME SERVICESPROPERTY MANAGEMENT SERVICELETTINGS ONLY SERVICE
Comprehensive marketing to find a suitable tenant
Obtaining tenant references & identity verification
Preparation of tenancy agreement
Pre-tenancy safety checks –Gas / Electric / Detectors
Pre-tenancy clean & inventory check-in
Collection of rent –DPS registration / notification
Welcome e-mail: How to rent guide to tenant
Dedicated property management (TaylorMade) 24/7 
Proactive chasing payments 
Transfer of utilities –back up account numbers / 
Keyholding service 
Arranging payment of outgoings 
Arranging quotes, repairs & maintenance 
24-hour emergency contractors 
Property inspections 
Compliance advice 
Managing the check-out process 
Deposit claim negotiation, compilation & submission 

PROPERTY MANAGEMENT

Our qualified team is specialized in 24/7 prompt management service.

We duly believe that 90% of issues can be assisted and sorted with a reasonable time for feedback in order to save money and complains. Our trusted suppliers list can deal on any matter at the reasonable time making the investment property to the Owner as smooth as possible.

We provide a dedicated property management to deal with any day-to-day issues as well as repairs and emergencies combining excellent quality and priority appointments at competitive prices.

We will also conduct regular inspections of the properties we manage, producing a detailed report with photographs and recommendations of any work we think is needed to maintain the condition of your property.

With so many regulations to observe, landlords are increasingly handing their portfolio to professional property managers to oversee their assets and ensure compliance with an ever-growing legislative burden.

CLIENT MONEY PROTECTION & CODES OF PRACTICE

Welcome at HomeLtd is registered at the property Ombudsman and member of SAFE agent which is a kitemark system to communicate to consumers that they are dealing with an agent that protects landlord and tenant money through a Client Money Protection (CMP)scheme. If an agent does not display the SAFE agent logo then consumers are potentially at risk. Manuel Detogni director of the companyis also a RICS member with a proved 10 years’ experience qualification in professional real estate services.

The Property Ombudsman
DPS
Safe Agent
Rics

LETTING

Tenant expectations have increased over the years. Tenants now expect a service in return for the rent they pay. London is a metropolitan city with a lot of scams and frauds behind. Identify a good and long term relationship tenant has become our mission for both of us.

Contracts – AST’s

AST “Assured Short-hold Tenancy” agreement is the contract between landlord and tenant. The quality of the tenancy agreement used can have a direct impact on your ability to make a claim on the tenant’s deposit, to hold them liable for rent, utilitiesand to ensure any notices are correctly served or received. For this reason we recommend using our proper written tenancy agreement. We will select the appropriate type of contract, prepare any specific clauses agreed and make this available for electronic signature through DocuSign.

Rental payments

Welcome at Homecollects 98% of all rents due to landlords using our comprehensive property management service. Rent arrearsand chasing of payments are one of the greatest concerns a landlord can have so letting through us should give you peace of mind.Our advanced systems allow us to transfer rent to your nominated bank account usually within 24 hours of receipt.

Deposits

The deposit for a long let is usually equivalent to fiveweeks’ rent and secured by DPS “Deposit Protection Scheme”. We are legally required to register a deposit foran Assured Short-hold Tenancy every time atenancy isgranted, extended or renewed. Failure to do so entitles thetenant tomake a claim against the landlord and the penalty for non-compliance is up to three times the deposit value. For Assured Shorth-old Tenancies the deposit will be registered with www.depositprotection.com. Landlords and lettingsagents who take a deposit inEngland and Wales must protect itwithin 30 days of receiving the money from the tenant. Proof of the deposit protection, knownas ‘Prescribed Information ‘, must be given to the tenant within30 days, plus the latest version of the Government publication “How to rent: the checklist for renting in England”. Foxtons will arrange all of thison your behalf. For a short let the deposit is £500 or equivalent to one weeks’ rent, whichever is greater and hold by Welcome at Home “client deposit bank account” as a stakeholder.

Short lets

A short let lasts between four weeks and six months (subject to local authority restrictions) and sometimes itis possible to extend. The rent is paid upfront for the whole contract and includes all bills save for telecommunications (line rental, broadband and the cost of calls made).We can provide a valuation pricefor long and short term lettings and would encourage landlords to consider both options as a way of reducing void periods.

SAFETY CHECKS

Gas Safety Certificate

Any gas central heating system or appliance will need to be certified as safe to use under The Gas Safety Regulations 1998. Inspections must be done prior to a tenant moving in and annually thereafter. Welcome at Home can arrange for the inspection to be carried out by a Gas Safe registered engineer who will issue a Gas Safety Certificate. It is also a legal requirement that a copy of the certificate is given to the tenant within 30 days

Smoke alarms

Any property built after 1992 should be fitted with mains operated smoke detectors and alarms on each floor as required under building regulations. It is now also a legal requirement to install a smoke alarm on every floor of a rental property. These must betested as in good working order at the start of every tenancy –a professional inventory check-in report should record if smoke alarms were present and in working order at the start of the tenancy.

Carbon monoxide alarms

Carbon monoxide (CO) is acolourless, odourlessand tasteless poisonous gas. Best practice is to install a carbon monoxide alarm but these must be installed in any room with a solid fuel installation e.g. a wood burning stove. They should also be tested to ensure they are in good working order at the start of every tenancy –the check-in report should record this safety check

Electrical safety EICR & PAT

The Electrical Equipment (Safety) Regulations 1994 state that anything electrical within the property, or anything that you supply as part of the fixtures and fittings, should be up to current electrical safety standards and safe to use. Landlords must also make sure that the electrical system is safe e.g. sockets and light fittings. If you let your property as a HMO (three or more tenants who form two or more households) then you must also carry out safety checks on electrical installations every five years by a NICEIC accredited electrician.

Furniture & furnishings

Furniture manufactured today must have a safety label stating it meets the Furniture and Furnishings (Fire) (Safety) Regulations 1988. It is a good idea to check that sofas, beds, bedheads, cushions, pillows and furniture covers still have the relevant fire safety tag attached. Furniture manufactured prior to 1950 is exempt but it is best practice to remove vintage, antique or sentimental items from a property.

Legionnaires & safety checks

Under the Control of Substances Hazardous to Health Regulations 1989 landlords who provide residential accommodation have a legal duty to consider, assess and control the risks of exposure to Legionella to their tenants. All water systems require an assessment of the risk and landlords can carry out this assessment themselves if they are competent, or employ somebody who is. In most residential settings a simple assessment may show that the risks are low and no further action may be necessary. For more information visit: www.hse.gov.uk/legionnaires/faqs.htm#Landlord.

Security

AT THE START OF A TENANCY

Keys

We recommend providing us with two set of keys: 1 for us property managers 1 back up –contractor.On move-in day there must be enough sets of keys for the number of tenants.

Cleaning,inventory &check-in

Tenants expect a property to be professionally cleaned at the outset, therefore this requires the tenant to return the property cleaned to the same standard at the end of the tenancy. An independent inventory check-in report will serve as a record of the condition ofthe property at the outset and will be used to re-assess the condition at the end of the tenancy.NB: We are usual to attach the professional cleaning invoice to the inventory as a proof of cleaning. Wear and tear is to be expected during the course of a tenancy. The entry costs of cleaning and inventory check-in are usually paid by the landlord, and at the end of the tenancy these are normally paid by the tenant. The check-in report also records meter readings when accessible.

Utility accounts

The tenancy agreementstates which utility bills the tenant is responsible for. For short let’s all the bills remain in the landlord’s name as these are included in the rent, save for telecommunications. For long lets it is normally the tenant’s responsibility to pay utilities, council tax and TV licence.If you are using a managing agent then they should assist with the transfer of utilities but the tenant should provide opening and closing meter readings directly to the utility provider. A landlord is liable for bills during vacant periods.

AT THE END OF A TENANCY

Renewals

Welcome at Home will endeavourto contact both landlord and tenant before the end of the tenancy agreement to negotiate an extension of the tenancy, if so required. We will also prepare and execute all necessary paperwork for a renewal. If a renewal is not required we will notify you to remarket to help minimize void periods between lets.

Check-out

The check-out inspection should be conducted by an independent professional inventory clerk and should consist of high quality color photos. This dated report will be evidence of the condition and cleanliness of the property at the end of the tenancy, which is critical if a landlord subsequently makes a claim against the tenant’s deposit.

Deposit deductions

At the end of the tenancy the tenant is required to request the return of the deposit. Within 10 days of this request the landlord must return any amount from the deposit which the landlord is not intending to withhold. The landlord must also inform the tenant of any proposed deductions. If there is a dispute on proposed deductions then the amount in dispute is transferred to the deposit scheme being used (www.mydeposits.co.uk) and their alternative dispute resolution service will determine the outcome. This is an evidence-based process decided by an impartial qualified adjudicator. Remember that wear and tear will occur especially if a tenant has been in occupation for a number of years. A landlord is entitled to charge deductions for dilapidations and damages, but cannot claim for betterment. Landlords cannot use the tenant’s deposit as a redecorating budget to improve the property condition, only to restore it to the samecondition as the start of the tenancy, save for fair wear and tear. Discussing deposit deductions can be the most difficult part of being a landlord. Wewill help you to deduct a fair deduction minimizing stressful dispute and costs.

YOUR LEGAL REQUIREMENTS

Energy Performance Certificate (EPC)

It is a legal requirement to have a valid EPC when marketing your property and a copy must be made available to prospective tenants freeof charge. Welcome at Home canarrange this for you and they are valid for up to 10 years. From 1st April 2018 properties let on a new tenancy or a fixed term renewal must have a minimum energy efficiency rating of band E or above. Listed buildings are exempt from EPC regulations

Consents to let

Please remember to obtain permission to rent the property from any co-owner(s) as well as permission from any mortgage provider or freeholder, if applicable. Ensure all property owners are named as ‘the Landlord’ on the lettings paperwork

Local authority licensing & Houses of Multiple Occupation (HMOs)

Check with the local council whether you need to apply for a licence when letting your property. The costs and scheme rules vary significantly between local authorities.In most cases, a HMO is a property in which three or more people who form two or more ‘households’ share basic facilities, such as a kitchen, a toilet or a bathroom. A ‘household’ is either a single person or members of the same family who live together. This includes people who are married or living together as married. Mandatory licensing applies within England and Wales to HMOs where there are five or more occupants in a property of three or more stores and the tenants comprise two or more ‘households’. A number of councils have extended licensing to entire wards, or to all private residential lettings within a borough. It is important to regularly check the website of the council your rental property falls within to ensure your ongoing compliance with local licensing rules. HMOs must also meet certain defined standards in safety and management. The Department for Communities and Local Government (DCLG) issued guidance for landlords and property managers of HMOs to understand what is required in order to be compliant which can be found at www.gov.uk/government/uploads/system/uploads/attachment_data/file/15652/HMO_Lic_landlords_guide.pdf.

Right to rent checks

These have been introduced as part of the Immigration Act 2014 within the private rental sector across England and place restrictions on illegal immigrants accessing rented accommodation. From 1st February 2016 the immigration status or ‘right to rent’ of all prospective occupants aged 18 and over must be proven by a tenant and confirmed by a landlord before a tenancycan be granted. The Immigration Act 2016 imposes criminal sanctions on landlords for non-compliance. Please consult www.gov.uk/righttorentchecks for more information.

Tax on rental income

All rental income arising from property in the UK is subject to tax. UK residents can usually complete a HMRC Self Assessment tax return to declare this income. Overseas landlords have to be taxed at source, unless their agent has permission from HMRC to pay rent to them gross of tax. Please consult www.gov.uk/personal-tax/non-resident-landlord-scheme for more information. Deductible allowances can help minimize tax on rental income. We recommend taking professional tax advice to ensure that youare maximizing your allowances.

Insurance

As a landlord you must have buildings and contents insurance in place at all times and these should be specific to a rental property. Even if your property is not furnished, it is still worth considering having contents insurance as some offer public liability cover, replacement locks and potentially the cost of rehousing tenants in the event of fire/flood. Unfurnished propertiesthat contain white goods such as a washing machine and fridge-freezerare still worth insuring under a policy specific to a rental property since the cost of repair/replacement can be considerable.

Money Laundering Regulations

All estate agents are subject to the Money Laundering Regulations 2017 and the Proceeds of Crime Act 2002. As a result we will need to ask you for proof of identity and proof of address. We will require sight of all original documents or alternatively certified copies.Below is a list of acceptable identity documents forlandlords acting as an individual.

 

Welcome at Homerequires two different documents one from List A and one from List B which must be dated within the past three months

LIST A -Identity DocumentLIST B -Proof of Address

• Valid signed passport

• Valid UK driving licence

• EEA member state identity card

•Recent utility bill

• Home or motor insurance certificate

• Recent mortgage statement

• Current local authority

• Recent bank/building society tax bill/tenancy agreementstatement

• Solicitors letter confirming house

• Valid UK/EU/EEA driving licence purchased/land registration(only where this has not been

• Electoral register entry used as a List A identity document)

•NHS medical card

• State pension benefits book