Lettings & Management
Most categories of investment have been producing very low returns in recent years and owning one or more “buy to let” properties has proved to be an attractive vehicle usually producing around 5-6% and with the prospect of capital growth too.
Many investment buyers are “first timers” and we take great pride and pleasure in explaining the process and the range of services we provide, geared to your personal requirements.
Guidance for prospective landlords
Reid+Dean offer three levels of service so that you have choices ranging from us dealing with everything on your behalf down to a simple tenant introduction where you then deal with all the management issues.
Whether you opt for Full Management (Gold) or either the Letting & Rent Processing (Silver) or Letting Only (Bronze) service we are more than happy to assist providing:
- The preparation of letting particulars with colour photographs
- Marketing through Reiddean.com, Rightmove, On The Market and Mayfair Office
- Erecting a To Let board at the property
- Referencing the prospective tenants through Rent4Sure
- Preparation of Assured Shorthold Tenancy agreements & statutory notices
- Deposit held in the TDS Custodial Scheme (do ask for details)
- Collection of rent from tenant and forwarding to client within 14 days
- Arrangement for an inventory and schedule of condition (separate cost)
- Management of maintenance and emergency repairs
- Periodic tenancy visits with report to Landlord
- Organisation of gas/electrical safety certificates (separate cost)
- Monthly statements
Our fees are inclusive of charges for matters such as arranging for EPC’s, gas certificates, electrical reports, PAT testing and inventories. You will only pay the contractor at cost.
Tenancy renewals are charged to the landlord at £65 inc VAT. In the Gold service a mid-term inspection is included free of charge, for all other property visits after the commencement of the letting the cost of a visit is £40 inc VAT. Arranging repairs or general works, no charge up to £500 cost and 12% inc VAT thereafter.
Bronze Service: Tenant Introduction only
A letting fee equivalent to 3 weeks’ rent (see examples below) plus an administration fee of £300.00 inc VAT to cover preparation, the AST and deposit registration, to be paid in full before or at the commencement of the tenancy.
Example: At £600pm the letting fee is £415.38 inc VAT. At £800pm the letting fee is £553.86 inc VAT. At £1,000pm the letting fee is £692.31 inc VAT. In all cases plus £300 inc VAT for administration as above.
Silver Service: Tenant Introduction and Rent Processing
A letting fee of 10% inc VAT of the monthly rent plus an administration fee of £300.00 inc VAT to cover preparation, the AST and deposit registration, to be paid in full before or at the commencement of the tenancy.
Gold Service: Tenant Introduction, Rent Processing and Property Management
A letting fee of 14.4% inc VAT of the monthly rent plus an administration fee of £300.00 inc VAT to cover preparation,the AST and deposit registration, to be paid in full before or at the commencement of the tenancy.
If agreement is reached for a sale of the property to the tenant at any time during the tenancy or within six months of it ending then a sale fee of 1.25% inc VAT of the sale price will become payable to Reid+Dean.
Reid + Dean are members of the redress scheme provided by Ombudsman Service: Property
Client money protection is provided through tenants deposits being held in the Government approved custodial scheme administered by TDS (Tenancy Deposit Scheme).