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The Accommodating Company Letting Service

Selection of Tenants

Once we have your instruction to proceed we will draw up particulars of your property in order that we may advertise both locally and nationally if necessary. We may have a selection of Tenants waiting for the type of property you have available.

Once we have found suitable Tenants, whom of course are subject to your approval, the necessary references will be obtained. We reference our professional working Tenants using a credit-checking agency. Providing the credit check is successful the Tenant is then granted a six-month rent guarantee which the Landlord has the option to renew at the end of the six months. This also applies to a Company Let. Copies of these references will be made available to the Landlord before signing the Contract and we would only advise the Landlord to sign the Landlord to sign the Contract if the references are satisfactory.

Rent and Deposit

Tenants are required to pay one calendar months rent plus two extra weeks as a deposit against dilapidations to fixtures and fittings and one calendar months rent in advance. The deposit must be returned to the Tenant at the end of the contract less deductions for damages which are not considered to be fair wear and tear to the property.

Tenancy Agreement

When you are completely satisfied with the Tenant we will prepare the necessary tenancy agreements and statutory notices. You may like your solicitor to check this agreement prior to being signed. We will be happy to furnish them with a copy on request.

Services

It is a Landlords responsibility to arrange final readings for gas, electricity, telephone and water supplies and have the bills forwarded to the new address. We will instruct the new Tenants to take over the services.

The Accommodating Company Rent Collection Service

In some cases it may not be possible for you to collect the rent. For a small fee we can arrange to collect the rent for you monthly and have it transferred into your account. This enables you to pay our fee on a monthly basis as the rent is collected. However we will hold the deposit in our Client Account for the term of the tenancy.

The Accommodating Company Full Management Service

It is not always possible for a Landlord to manage their own property and indeed many Landlords prefer to leave the responsibility in the hands of the experts. Our Full Management Service offers the following:

  • All services offered by the let and rent collection services
  • Quarterly inspections of the property with a written report to the Landlord
  • A final inspection of the property as the Tenants vacate, subject to a professional inventory being prepared by ourselves or the Landlord. We will ensure that the property is professionally cleaned and left in a suitable condition for re-letting.
  • Deal with maintenance problems as they arise using either your nominated approved contractor or our own maintenance contractors.
  • We will from time to time make recommendations to you with regards general improvements needed to maintain the standard of the property which are, of course, entirely optional.
  • Liase with solicitors on your behalf, in the event of any dispute arising between Landlord and Tenant. The legal fees may be free of charge if you have a rent Guarantee or a legal expenses insurance.
  • If instructed by the Landlord we may make payments on the following accounts:

    Insurance
    Ground rent
    Service charges (if applicable) etc
    Repair and maintenance charges

    This service is only available if sufficient funds are retained in the Landlords account

  • If we manage the property the Tenant will not be able to contact the Landlord direct. We will sort out any minor day to day problems which may arise during the tenancy.

Insurance Policies

There are several excellent rent protection and legal expenses insurances available. Landlords are strongly advised to cover themselves in case a problem arises. Detailed information will be provided on request.

The Accommodating Company Scale of Fees

a) letting service the letting fee is 10% of the rent for the period of the contract

b) letting and rent collection service the rent collection service is 12.5% of the rent for the period of the contract

c) full management service fee is 15% of the rent for the period of the contract

d) for commercial Landlords with a minimum portfolio of five properties the full management fee is 10% of the rent for a period of the contract.

e) If Tenants remain in occupation for more than one year the fee is reduced by 2.5% for the second and third year with a minimum fee of 5% for let only service, 7.5% for rent collection and 10% for full management service.

f) As a Company we do not believe in charging you for a service which we have not provided. If for any reason a Tenant does not fulfil the term of his tenancy we will credit you with the fee for the remaining term. However, we will try and recover this fee from the Tenant by charging the Tenant a fee for being released from the tenancy agreement. This situation is uncommon, but please consult us before agreeing to release a Tenant from the agreement.

Additional Information

a) there is no charge for the supervision of repairs and maintenance

b) fees are payable in full at the commencement of the letting on the let only service. The fee may be deducted monthly on the rent collection or full management if required.

c) All fees are subject to VAT

d) A schedule of inventory charges is available on request

e) A schedule of insurance charges is available on request. If we sell you an in-house insurance policy we may make a commission as agents for the insurance company.


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319 CHASE ROAD,
SOUTHGATE,
LONDON, N14 6JT,
TEL: 020 8447 8400 - FAX: 020 8447 8440
southgate@accommodatingcompany.co.uk
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