Why our professional service means peace of mind for you
The lettings industry has enjoyed unprecedented growth over the past few years and is fortunate in that regard. However, it is an unregulated industry and a business where there are numerous unqualified agents operating all over the country. Stories of agents disappearing overnight with Landlords’ rents and Tenants’ deposits are seen all too often in the Press.
The Home Management Co. Ltd. is regulated and a fully licensed member of ARLA (The Association of Residential Lettings Agents) ensuring that its staff are fully trained. We also have Professional Indemnity Insurance, Client Money Protection, and are members of the Property Ombudsman Scheme.
The Home Management Company prides itself on offering a comprehensive service for all landlords, according to their individual specifications. We have a qualified and experienced team who have their dedicated roles, but are also able to assist in all aspects of the Letting and Management process.
Our services include Full Management, Let Only or Let and Rent Collection. Not all properties are the same and not all landlords require the same service, so our experience over the years has encouraged us to create a Bespoke Service tailored to landlords individual needs. Our fees are competitive but our Service is second to none. (More details below.)
Please note that the fees detailed below are for guidance purposes only
LETTING SERVICE – This service is provided for a fee of 9.6%-12% of the rent Including Vat for the term of the tenancy up to a period of one year. Where a Letting Only Service is required, a renewal fee will thereafter be charged at 6% of the rent Including Vat at the prevailing rate, for the duration of the tenancy and while the tenant remains the same. Where a tenancy extends for a period over 3 years, our fees will be reduced in accordance with the service being provided.
The letting fee, deducted at the outset of the tenancy, is determined by the fixed term period of the tenancy. Should the fixed term be for a period of less than one year at the outset, fees for that period only are charged. If the tenancy term is then renewed, either by further fixed term or continued subject to the terms of a statutory periodic tenancy, the balance of fees will be payable at that time.
LETTING/ RENT COLLECTION – This service is provided for a fee of 9.6%-12% of the rent Including Vat, for the term of the tenancy up to a period of one year. Where a landlord wishes the rent to be collected by this office for the balance of the tenancy the fee will reduce to 7.2% of the rent Including VAT for the duration of the tenancy and while the tenant remains the same.
LETTING PLUS THE FULL HOME MANAGEMENT SERVICE: – This service is provided for a fee of 14.4%-18% Including VAT for the first year, reducing to 12% Including Vat for subsequent years provided the tenants remain the same. This fee is deducted from the rent received and charged on a monthly basis. Accounts are forwarded to the landlord accordingly (by email unless otherwise agreed).
HOME MANAGEMENT PROTECTION PLAN – 3.6% Including Vat of the agreed rent- As from April 1st 2005 all tenancies which are managed through this office will have the opportunity to be included in the HMPP. Details of cover and costs are enclosed. Should a landlord not wish for the tenancy to be included in the HMPP we will require his instructions to be confirmed in writing to this office (See Terms of Business Acceptance Form which will be forwarded with Confirmation of Instructions letter). In the event that a landlord, who only requires the Letting Service only, wishes to have his tenancy covered by the HMPP we would be pleased to include the tenancy in the plan although this will require that the rent is paid to this office first and thereafter forwarded to the landlord. In this instance fees would continue as for the Rent Collection Service. We are proud and privileged to be able to offer this cover and would strongly recommend all landlords to take advantage of the peace of mind the cover provides.
INVENTORIES/ CHECK IN– Charges made in respect of a fully furnished property vary somewhat from property to property, but prices average between £20.40 – £24.08 per room Including Vat. In the case of an Unfurnished property costs should be approximately £18 – £21.60 per room Including Vat.
These fees include the check in at commencement. Given the requirements of the Tenancy Deposit Legislation a new Inventory and Schedule of Condition is required to be provided at the start of each new tenancy with updated photographs. Cost variations for both Furnished and Unfurnished properties are determined by size and complexity of the rooms.
TENANCY DEPOSIT SCHEME – A charge of £30 Including Vat is charged at the start of each tenancy and tenancy renewal for the Registration of the Deposit with the Scheme and producing the relevant documentation and Certificates.
CHECK OUT REPORT – The Tenants are responsible for the cost of the check out and the compilation of the check out report. Where the property is managed by this office this service will include negotiation with the tenants in respect of deductions to be made and the obtaining of quotes for these works. Where we do not manage the property it will be the responsibility of the landlord to undertake whatever negotiation is necessary with the tenants and overseeing any works required. If the landlord requires assistance in this regard a separate charge will apply.
WITHDRAWAL FROM OFFER – If, after having been instructed to proceed with an offer a landlord subsequently withdraws the property after references have been taken and all documentation prepared, there will be a minimal charge of £180 Including Vat to cover expenses incurred by The Home Management Company Ltd.
COURT ATTENDANCES – In the event it becomes necessary to take legal action for breaches of the tenancy agreement by the Tenant, the landlord will be responsible for all fees and costs arising from instructions issued to Solicitors (unless a Legal Protection Insurance Policy is in place) see details provided. If we are required to attend Court on behalf of a landlord, a charge of £60 Including Vat per day will be levied or any part day thereof.
END OF TENANCY DISPUTE – In the event that this office is required to submit a claim on behalf of a landlord, an Administration charge of £120.00 Including VAT will be levied to cover the costs of providing all the information required to be submitted to the ICE (Independent Case Examiner)
The Home Management Company Limited is a Licensed Member of ARLA – The Association of Residential Letting Agents which INCLUDES CLIENT MONEY PROTECTION – and a Member of the Property Ombudsman Scheme