Guide for Landlords

Whether you’re an experienced landlord or letting your first property, with over 170 pieces of legislation governing lettings services, it is important to choose an agent who is fully conversant with all the legal requirements to protect both you and your investment. The most recent change to housing legislation in Wales has been the introduction of the Renting Homes (Wales) Act 2016 which came into force on 1st December 2022 and is the biggest change to the rental sector for a generation, altering enormously the way in which landlords rent out their properties. The new law aims to achieve a simple and effective basis for renting a home with a clearer and more logical framework which is standardised across Wales. Standard Occupation Contracts have replaced Assured Shorthold Tenancies (AST’s) and tenants are now known as Contract Holders.

Unlike the other nations in the UK, in Wales, private and public landlords are regulated by Rent Smart Wales, a licencing authority hosted by Cardiff Council in partnership with the 22 Welsh local authorities to ensure compliance with legislation. As a landlord you must be registered with Rent Smart Wales and letting agents, and landlords who let and manage properties themselves, must be licensed with the authority too. We employ the best staff to provide guidance in valuing your investment, advising you about your obligations and compliance with the myriad of housing legislation and ensuring that the right contract holder is sourced for you.

Our lettings service is managed by Harriet Eccles who is Rent Smart Wales Approved.

We offer two tiers of service:

Let Only Service

We will extensively market the property, manage viewings, negotiate with contract holders and when a suitable tenant has been selected, we will provide the following service for you

  • We will arrange references for you
  • We will prepare the standard occupation contract for you
  • We will collect and hold a bond
  • We will collect and submit the first month's rent statement and arrange payment of future rent to you
  • We will arrange a date for the check-in

Full Property Management Service

We will extensively market the property for you, manage viewings, negotiate with contract holders and when we have found a suitable tenant for your property, we will provide the following full property management service for you:

  • We will arrange references for you
  • We can arrange a rent guarantee policy as an optional extra to give you added peace of mind
  • We will organise all the mandatory safety certificates and keep them up to date for you
  • We will prepare the standard occupation contract for your contract holder to sign
  • We will prepare a written and photographic inventory, as an optional extra service for you
  • We will collect and hold a bond for you
  • We will arrange the rent collection, payment, and provide you with a monthly rent remittance
  • We will arrange the contract holder check-in for you
  • We will notify the local authorities and utility providers (except telephone and tv licence) for you
  • We will actively manage any rent arrears for you
  • We will undertake regular property inspections and report our findings to you
  • We will provide you with property maintenance support
  • We will manage all your contract holder queries and any negotiations relating to the property
  • Wherever possible we will carry out an advisory pre-check out with the contract holder
  • We can serve a Notice of Possession for you as an added extra 
  • We will arrange a final check-out to check the condition of the property against the inventory at the start of the tenancy period and give you guidance on the results
  • We will notify the local authorities and utility providers at the start and end of the tenancy

Optional extras for Landlords

  • We can arrange for quotes for contractors to supply mandatory certificates
  • Annual tax statements are available for free to our managed Landlords via our payment App, or we can can provide this for an additional charge
  • We can arrange a detailed photographic inventory 
  • We can arrange for an EPC to be provided for £90 inclusive of VAT
  • For landlords requiring peace of mind, we can provide Rent Guarantee Policy

 

A Guide to our Landlord Fees:

Our Full Property Management Service

An initial set-up fee of 50% of 1 month’s rent + VAT (subject to a minimum fee of £450.00 inclusive of VAT) which includes our standard compliance check of the property, all marketing, viewing management, tenant referencing, plus the issue and signing of a standard occupation contract to the contract holder. We will also collect the deposit and arrange for it to be held by the Tenancy Deposit Service. In addition, we will notify the local council and utility providers at the start of the tenancy. 

Monthly management fee of 12% inclusive of VAT (10% plus VAT) of 1 month’s rent (subject to a minimum fee £45.00 per month inclusive of VAT) starting from the first month.  If required, we can provide a management fee which also includes rent protection insurance which is 15.54% of 1 month's rent inclusive of VAT.

Free services included within our full property management service: free inspections during the term of the tenancy; free check out report at the end of the tenancy occupation; free rent review.

Additional Fees

Tax Statement: We provide a free monthly statement and payment remittance to landlords plus access to our payment platform for landlords to view and download financial statements.  If required, we can issue an additional annual tax statement for £48 inclusive VAT.

Notice of Possession Service: £60 inclusive of VAT.

Fixed Term Renewal of Standard Occupation Contract: £90 inclusive of VAT.

Let Only Service

We charge a let only set up fee of 1 month’s rent inclusive of VAT which includes our standard compliance check of the property, all marketing, viewing management, tenant referencing, plus the issue and signing of a standard occupation contract to the contract holder. We will also collect the deposit and arrange for it to be held by the Tenancy Deposit Service.  This fee is payable at the start of the occupation contract. Unless otherwise agreed our Let Only service includes a standard reference (which includes a credit check, employer’s reference and previous landlord reference).

Optional Inventory Services

We recommend an inventory prior to the start of any tenancy.  We can provide this service for the following costs with the bedroom numbers shown in brackets below:

(1 bedroom) £130 inclusive VAT

(2 bedrooms) £150 inclusive VAT

(3 bedrooms) £170 inclusive VAT

(4 bedrooms) £190 inclusive VAT

(5 bedrooms) £210 inclusive VAT

Tenancy Deposit Service dispute negotiation charge

If there is a dispute between the Landlord and the contract holder regarding the bond at the end of the occupation period, we will mediate in negotiations between all parties.  For properties where we have provided a let only service, there will be a charge of £120 inclusive of VAT.  For fully managed properties, there will be a charge of £60 inclusive of VAT.

Membership Schemes

We are a member of The Property Ombudsman Redress Scheme.

We are in a Client Money Protection scheme operated by Propertymark.

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