Full Management Service ...
For landlords who want the stress taken out of letting their property, Leapfrog is able to offer a comprehensive ‘Full Management’ package.
Accompanied Viewings We accompany all prospective tenants on viewings and pride ourselves in being open longer, offering evening and weekend appointment to suit.
Comprehensive tenant referencing We use Letsure to carry out full credit history checks, stability and affordability assessments including financial, fraud and employment references.
Preparation of Tenancy Agreements and service of all legal Notices during the tenancy The form of tenancy regularly used is an Assured Shorthold Tenancy which is in accordance with the Housing Act 1988 (as amended). The tenancy commences with a 6 month fixed term with the option to renew. Alternatively, if you do not wish to commit to a further fixed term, the tenancy will become a Statutory Periodic tenancy where the tenant stays in the property under the terms and conditions of the original agreement and the tenancy continues to "roll over" month to month.
Inventory A most important aspect of letting your property land we endeavour to stress this to your tenant. We have stringent rules in place regarding the checking and signing of the inventory by your tenant as this can ultimately affect the return of their deposit.
Utilities Meter readings are taken of gas and electricity (where applicable) and we inform the appropriate utility services including water authorities and council tax departments of the name and commencement of the tenancy.
Rent Collection Rent is collected calendar monthly in advance and we encourage your tenant to pay by standing order. Once the rent receipt is processed, we endeavour to pay your rental income due less any agreed expenditure direct into your bank account using our Bacs system promptly. We carry out a payment system on a daily basis to avoid any delays.
Inland Revenue administration and reporting Depending on your circumstances, income from property in the UK must be declared to the Inland Revenue. Landlords can claim personal allowances against income from property. Expenditure incurred in connection with letting including interest paid on a mortgage can be offset against your tax liability and a wear and tear allowance in the case of furnished property may be granted. We will provide an annual statement itemising rental income received and all expenditure to enable your tax computation be completed. (We would advise you to take independent advice from a professional body with regard to your tax affairs).
Overseas Landlords Overseas landlords are classed as Non-Resident Landlords and all income from property is subject to tax. To enable rental income to be paid gross, you can apply for an exemption certificate from the Inland Revenue. We can supply you with the necessary forms and guidance notes and would recommend that these are completed as a priority.
Health & Safety Regulations The Landlord and Tenant Act 1985 section 11 (as amended by section 116 of the Housing Act 1988) requires the landlord (a) To keep in repair the structure and exterior of the dwelling including drains, gutters and external pipes (b) to keep in repair and proper working order the installations of water, gas, electricity and sanitation (c) to keep in proper working order installations for space and water heating.Landlords also have a duty to ensure that the premises, fixtures, fittings and appliances are safe.
Arrangement of Gas and Electrical Inspections The Gas Safety (Installation & Use) Regulations 1994 require landlords to ensure that all gas appliances and installed pipe work are maintained in a safe condition and that they are inspected annually by an approved Gas Safe Register Engineer. A Landlord Gas Safety Certificate must be kept and issued to all tenants prior to the start of a tenancy. These annual inspections can be arranged by Leapfrog Lettings.
Should you wish to arrange your own, we will require the certificate to be kept on our files.As far as Leapfrog Lettings are aware, there is no statutory obligation in place for Landlords to obtain an Electrical Safety Certificate but we feel it is the Landlords duty to ensure that electrical wiring and equipment is safe and we recommend that an approved electrical contractor should inspect the property and electrical fittings and produce a report certifying that all is safe.
Please note that whilst we do not charge to make these arrangements for the above inspections, contractor’s charges are borne by the landlord.
Regular Inspections and Property Maintenance We are committed to carrying out regular inspections ensuring that the property is being cared for to an acceptable standard and remains in good order throughout. We aim for three monthly inspections to keep maintenance at a controllable level (if required) and after every inspection, you will receive a written report of the condition and details of any maintenance we deem necessary to protect your investment.
Should repairs become necessary or your tenant informs us of a problem, we will contact you prior to instructing contractors. In most cases we will obtain an estimate of costs, instruct the contractor and monitor the repair. Carrying out repairs on a timely basis is not only important to your tenant; it is important to safe guarding your investment.
Tenancy Renewals Should you wish to offer a further fixed term to your tenant we will arrange to have a new Assured Shorthold Tenancy Agreement drawn up and duly signed. (There is an administration charge for this service).
Final Inspections and Check out procedure At Leapfrog we take a deposit equivalent to 1 months rent at the onset of the tenancy. We have a stringent check out procedure at the end of every tenancy whereby we arrange to meet the vacating tenant at the property to carry out a final inspection. All meter readings are taken and a forwarding address is obtained. We stress to the tenant that they have an obligation to inform all services and as a safeguard we also write to all service providers with outgoing meter readings etc and forwarding addresses for final bills.
The Leapfrog Full Management Service includes all the above for a monthly management fee (unless stated). All our services are designed to ensure your needs are met but we would be happy to add to or remove any of the above and design a service to suit your requirements.
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