Guidance for Landlords

Application process

We understand that letting your home or investment property can sometimes be a daunting prospect and whilst the letting process is not necessarily complicated, the legislation relating to the letting and management of residential property is. It is therefore essential that you minimise the risk by appointing a professional accredited letting agent.

Hose Rhodes Dickson Residential Lettings is honoured to have attained been accreditation by NALS (National Approved Lettings Scheme), which operates to provide a much-needed benchmark accreditation scheme to enable landlords and tenants to avoid the pitfalls of dealing with cowboy letting agents.

NALS ensures that as a member agent we comply with defined service standards and have in place a customer complaints procedure underpinned by an arbitration scheme, Professional Indemnity Insurance and Client Money Protection cover.

The Scheme is supported by some of the most powerful voices in the property industry. The Association of Residential Letting Agents (ARLA), the National Association of Estate Agents (NAEA) and the Royal Institution of Chartered Surveyors (RICS) support NALS, which is also endorsed by the ODPM (Office of the Deputy Prime Minister), the Housing Corporation and the British Property Federation. Membership is open to organisations that have a director, principal or partner who is a member of one of the professional bodies.


What is NALS?

The National Approved Letting Scheme (NALS) is a voluntary accreditation scheme for letting and management agents, established in 1999. The objective of the Scheme is to give owners the confidence to let their property by appointing qualified agents who, in joining the Scheme, have agreed to meet a set of minimum service standards for letting and management.

Who can join NALS?

NALS is open to all letting and management firms that can meet the strict accreditation criteria.


Minimum service standards

All members are required to agree to the membership criteria, which are:

  • Meet agreed service standards which should be set out in writing with a clear statement of charges
  • Maintain Professional Indemnity insurance and (except for housing associations) Client Money Protection cover
  • Maintain an internal complaints procedure open to both landlords and tenants
  • Offer mediation and binding arbitration (NB: only landlords are eligible to proceed to the arbitration stage if the complaint has not been resolved amicably during the early stages.)
    More information on The National Approved Letting Scheme can be obtained by calling NALS on 01242 581712, emailing info@nalscheme.co.uk or visiting the NALS website www.nalscheme.co.uk

Letting & Management Services

Hose Rhodes Dickson Residential Lettings appreciates that everyone's circumstances are different and therefore offer a range of letting and property management services, tailored to suit your individual needs. These are detailed below.


Marketing and Tenant Referencing

Each level of service includes as standard the following pre-tenancy undertakings:

i) A rental valuation and letting appraisal
ii) The preparation and distribution of property particulars
iii) Weekly press advertising until your property is let
iv) Marketing from all 5 of Hose Rhodes Dickson's offices
v) The erection of one of our stylish To Let boards
vi) Accompanied viewings with all prospective tenants
vii) The selection and vetting of all prospective tenants


Tenant Introductory Only Service

This service is usually charged as a one off fee equal to the negotiated monthly rent, with a minimum of £300 plus VAT. However, for Landlords with multiple properties we are able to offer a discount of 25%. (except minimum fee)

1. We will prepare and arrange for the Tenant to sign the tenancy agreement, which will have been drawn up to adequately cover your circumstances and to protect your interests.

2. Keys to your property will be issued to the Tenant on the commencement date of the tenancy.

3. The rent collected will be accounted to you less the deduction of our fees and VAT.


Rental Collection & Legal Administration Service

(Including above criteria 1-3 as well as the following)
This service affords the Landlord the confidence that the rent account is being correctly maintained, any shortfalls pursued and that the legal administration is professionally managed.

4. We will transfer mains services accounts into the Tenant's name using the appropriate meter readings and will arrange for your final account to be forwarded to the Landlord for settlement.

5. We will undertake rental collection, pursuing any late payments, should they occur.

6. We will undertake the legal administration of the tenancy, e.g. notices, gas safety certificates and addendums.

7. Two months prior to expiry of any fixed term tenancy, notice to quit will be prepared and served on the Tenant.

8. A checkout inspection will be carried out and a report forwarded to you.

9. To transfer mains services accounts back into your name or into the name of any new incoming Tenant.

This service is usually charged on a commission rate basis of 12% of the negotiated monthly rental, plus VAT.


Full Management Service

(Including above criteria 1-9 as well as the following)
Our Full Management Service provides a complete letting and management package, which provides the Landlord with the peace of mind that their investment is fully protected at all times.

10. We will investigate any faults reported at the property and will in the first instance advise the Landlord to obtain instructions and to instruct contractors if required and to settle invoices from rental income.

11. Hose Rhodes Dickson Residential Lettings will carry out an inspection of the property every quarter and will forward our report and findings to the Landlord.

12. Following the checkout inspection of the property, we will provide our experience to assist in mediating on any damages and will arrange remedial works, settling contractor's accounts from deposit monies, funds permitting.

This service is usually charged on a commission rate basis of 15% of the negotiated monthly rental, plus VAT. For a multiple instruction a discounted rate of 10% is offered with a 50% discount applied to our sundry fees.

Please also note that with the Rental Collection & Legal Administration and with the Full Management Services, additional fees are levied for tenancy agreements, inventories & schedules of condition, checkout inspections and tenancy addendums. These are detailed below along with the multiple instruction discounts:-

 
Standard
Discounted
Tenancy Agreement
£50.00
£25.00
Inventory/Schedule of Condition*
£60.00*
£40.00*
Preparation & Service of NTQ
no charge
no charge
Check-out inspection and report
£25.00
£12.50
Tenancy addendums
£30.00
£15.00
 
Total per initial 6 month tenancy
£165.00
£92.50

* PLEASE NOTE THAT CHARGES FOR INVENTORIES/SCHEDULES OF CONDITION ARE ONLY LEVIED AGAINST THE INITIAL TENANCY. AN AVERAGE FEE IS SHOWN ABOVE AS AN EXAMPLE.

Rental Guarantee & Legal Expense Insurance

In the interests of providing ultimate peace of mind, Hose Rhodes Dickson Residential Lettings offers a range of insurance products providing a varied range of cover. The most popular product is SELECT and for £50.00 per 6 month tenancy (27 pence per day), rent will be paid in the event of default and submission of a claim for up to 7 months or until vacant possession has been gained, whichever happens soonest. Legal Expenses will also be covered in the pursuit or defence of civil claims. Exclusions and limits of cover apply and should you require further information please request a copy of the Policy wording.


Market conditions

The demand for good quality rented accommodation is great and with short and long term job relocations, the lack of property for sale, the desire for mobility and many other demographics all conspire to maintain the buoyancy of the residential letting market.

For FREE, NO OBLIGATION rental appraisal of your property, please call 01983 521114.

 

approved letting scheme