T: 01480 459999 | F: 01480 392972 | enquiries@penprops.co.uk
Accreditation

Landlords Frequently Asked Questions

Why do I need my property managed?

On the face of it becoming a Landlord appears to be quite simple – buy a property, find a tenant, collect the rent.

However there are currently more than twenty different regulations, acts and rules relating to the letting of residential property which include those designed to protect the tenants safety, non compliance with which carry monetary penalties and even imprisonment.

Just a few of these include:

In addition, the vetting of prospective tenants can be a minefield without the professional expertise that enables the screening out of those who are likely to cause you problems in the future. For example, the Immigration Act 2014 requires Right to Rent document checks to be carried out on all adults due to move into a rented property to confirm that they have a right to reside in the UK otherwise the landlord will be liable for fines of up to £3000 per tenant should they subsequently be found to be illegal immigrants. However where an agent is employed, responsibility for the Right to Rent document checks can be transferred from the landlord to the agent by written agreement.

By employing Pennington Properties to manage your property, who are fully bonded members of the Association of Residential Letting Agents (ARLA) with qualified staff, you can rest assured that, with the specialist knowledge and expertise we have accumulated over 30 years of property management, your interests will always be protected.

What can you offer me?

What are your fees?

Our Standard Management Fee is 10% plus VAT (12% inclusive of VAT) calculated on the rent achieved. Lower fees may apply depending on the size of the property and whether a landlord has more than one property with us to manage (see also Landlords Fees for more information).

Please note that our management fee is inclusive of the services we provide. We do not charge an initial setting up fee nor do we charge separately for preparation of the Tenancy Agreement or Schedule of Condition and Inventory. It is important that you are aware of this fact when comparing our fee with other agents fees as their headline rate may be lower but often the extra charges they make increase the overall cost to much more than our inclusive fee.

Do I have to have full management?

We are pleased to offer a 'Let Only' service for a fee equivalent to 50% of one full months rent plus VAT with a minimum charge of £350 plus VAT (£420 inclusive of VAT) for those landlords who feel able to manage their properties themselves but wish to ensure that their tenants are properly referenced and the tenancies arranged for them in a legal and professional manner. This service includes advertising, tenant vetting, preparation of a Tenancy Agreement, Schedule of Condition and Inventory and formal hand over and take back of the property.

Where can I find further information?

For more detailed information on our services please:

Click to go to topTOP