Hose Rhodes Dickson Lettings - Isle of Wight Lettings and Property to Rent

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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 ARLA (The Association of Residential Letting Agents), 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.

 

What is ARLA?

The Association of Residential Letting Agents, ARLA, is the only professional body that is solely concerned with the self-regulation of letting agents and for nearly 25 years has been actively promoting the highest standards across every aspect of residential lettings and management in the Private Rented Sector.
ARLA is viewed by government, consumer groups, academia, think tanks and the media as the leading voice in the industry. ARLA member firms are seen as being at the forefront of the Private Rented Sector, ready, willing and able to comply with existing and anticipated government legislation.
ARLA member firms successfully create, on average, over a quarter of a million new tenancies a year as well as arranging the renewal or extension of thousands more of existing tenancies every month.

Why Should A Landlord Or Tenant Seek Out An ARLA Member Firm?

Probity and Protection - ARLA leads the industry in setting and regulating the highest standards in the industry and demands certain levels of professionalism and commitment to customer service from its membership.

ARLA member firms are required to work within a robust Code of Practice, which covers the key stages in letting and managing a property. There are comprehensive membership Byelaws which include compliance with such issues as handling and accounting for Clients’ money; the mandatory ARLA Client Money Protection Bonding Scheme; Professional Indemnity Insurance; Dealing with Complaints and Disciplinary Procedures.

ARLA member firms are required to employ a minimum of at least one member of staff, in any office, who holds a suitable industry qualification, recognised by the Association.

ARLA keeps it members up to date with changes in legislation and provides wide-ranging training and guidance to help members understand and interpret all aspects of letting and managing a property.

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

Bronze (Tenant Finder Service)

This service is usually charged as 80% of the negotiated monthly rent, with a minimum of £450 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.

Silver (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.

Gold (Full Management Service)

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

10. Hose Rhodes Dickson will investigate any faults reported at the property and will in the first instance advise the Landlord, obtain quotes if required, instruct contractors if required and settle invoices from rental income.

11. Hose Rhodes Dickson will carry out an inspection of the property every quarter and will forward a written report to the Landlord.

12. Following the check-out inspection of the property, Hose Rhodes Dickson will provide assistance in mediating on any damages and will arrange remedial works, settling contractors 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 12% is offered with a 50% discount applied to our sundry fees.

 

Platinum (Rent & Legal Expenses Guarantee)

(Including above criteria 1-9 or 1–12 as well as the following)
Platinum provides the ultimate peace of mind that your property and tenancy is managed professionally and competently with the added security that rental payments are guaranteed and that any legal expenses that may be incurred will be settled as part of the guarantee.

13. In the event that the tenant defaults on rent payments, Hose Rhodes  Dickson will pay to the Landlord a sum equal to the agreed monthly rent less agent’s commission, fees and vat due on the rent one month in arrears until vacant possession of the property is obtained, or until the tenant resumes payment or until 6 months has elapsed from the first date of the arrears occurring, which ever is sooner.

14. The first payment of rent under the Guarantee will be subject to the deduction of a sum of £250.00 or 50% of the agreed monthly rent, whichever the greater.

15. Should the rent be in arrears for two consecutive months Hose Rhodes Dickson will at their sole discretion appoint Solicitors to instigate County Court Proceedings on behalf of the Landlord pursuant of recovery of possession of the property and Hose Rhodes Dickson will meet all the costs of said proceedings up to a maximum of £5000.

16. In the event that the Court grants a suspended possession order as a consequence of the tenant resuming rent payments and repays the arrears as ordered either in full or by a sum per month, should the tenant again default on the rent due, the Guarantee will resume and the first payment made to the Landlord under the resumed Guarantee will be subject to the thresholds referred to above in Section 14 and will be paid to the Landlord less agent’s commission, fees and vat due on the sum paid under the Guarantee.

17. Should the Landlord decide not to instigate action pursuant of recovery of possession of the property, the Guarantee will be void.

18. The Landlord agrees to compensate Hose Rhodes Dickson equal to the sum of any payments received from the Tenant as a result of a successful claim for recovery of legal or court costs and the Landlord agrees to pay said compensation to Hose Rhodes Dickson with 14 days of receipt.

Platinum is charged at a commission rate of 2.75% of the negotiated monthly rent plus vat in addition to the commission rate of our Silver or Gold Service.

Please also note that with the Silver, Gold and Platinum 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
Preparation & Service of NTQ	no charge	no charge
Check-out inspection and report	£35.00	£17.50
Tenancy addendums	£35.00	£17.50
Total per initial 6 month tenancy	£120.00	£60.00

Tenancy Deposit Protection

As you have instructed Hose Rhodes Dickson as your managing agent, you and your tenancy will be compliant with the Tenancy Deposit Protection introduced by the Housing Act 2004 on the 6th April 2007 that obligates a Landlord/Agent holding a tenants deposit to provide a safeguard for the deposit and to facilitate the resolution of disputes pertaining to its disbursement.

Hose Rhodes Dickson’s membership to the Tenancy Deposit Scheme entitles its clients whose tenancies commenced on or after the 6th April 2007 to free dispute resolution service in the event of a dispute over the disbursement of the deposit at the end of the tenancy. However, the dispute resolution service will require evidence to support any claim against the deposit that may be disputed by the tenant and therefore it is of the utmost importance that evidence is provided in the form of a comprehensive inventory and schedule of condition. If a claim cannot be substantiated then it is high unlikely that the claim will be successful and financial loss will be incurred.

What is an Inventory & Schedule of Condition (ISC)?

It is a document produced just prior to the commencement of letting the property that details the condition, fixtures, fittings and contents of the property, both internally and externally. Hose Rhodes Dickson are highly experienced in the preparation of ISC’s and with the introduction of Tenancy Deposit Protection and the evidence based dispute resolution service, if you are an existing client who has in the past declined to have an ISC we must insist that an one is produced now in readiness for this tenancy. Considering the relatively low cost of an ISC against the potential financial loss in the event of an unsuccessful claim, can you afford not to have one. Please see the tariff below.

 

If you are not sure whether you have instructed Hose Rhodes Dickson to produce an ISC for your property, please call to check and to confirm your instructions.

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