Renting your property can be both time consuming and expensive. Letting and property management agents provide a number of different types of services to landlords. The level of service will very often determine the amount they charge.
Property management charges are usually commission, based on the annual rental income of your property. You should therefore discuss and compare the charges of different London property management and London lettings agents in the area.
Introduction Only: The introduction service offered by London letting agents very often gives landlords the most basic of all services available. It consists of finding suitable tenants for your London property, applying for references, preparing the tenancy the tenancy agreement and collection of the first month’s rent and deposit. The letting agents’ charges are deducted from the first month’s rent and deposit. As landlord you will be responsible for the deposit and for all future property management issues.
Rent Collection: The rent collection service includes all the services offered under the introduction only service, together with a rent collection service. Once rent is collected the letting agents’ rent collection commission is deducted and balance is paid to the landlord. The landlord is expected to arrange to inspect the property and deal with any repairs under the terms of the agreement. The issues of notices to quit are normally dealt with by the letting agent but the landlord will need to make his or her own arrangements to deal with all aspects of the tenant moving out and related property management issues.
Full Management: The fully managed property service offered is the most comprehensive and deals with almost all the issues of property management required on a daily basis. Urgent repairs and maintenance will be undertaken as needed by the letting agent and quotes will be obtained for other non-essential matters. The payment for any expenditure will be deducted from rents collected before any payments are made to the landlord. For landlords who working or living abroad this property management service is essential as all matters are left in the hands of the letting agent
The Tenancy Deposit Scheme law came into effect on sixth of April 2007, in England and Wales. All Assured Shorthold Tenancies and rentals in the private sector (with rents up to £25,000 per annum) are protected under this scheme.
Tenants are now protected from landlords and letting agents unfairly withholding their deposits. For Landlords,there is agreement on the property state and an inventory at the beginning of the let. Any dispute is then evidence based.
The law demands that within 14 days of receiving the full deposit, the landlord or letting agent, must sign up with
Paramount Lettings is a fully bonded member of the Association of Residential Lettings Agents, ARLA, and adheres to their strict business standards. Our letting agents staff are amongst the most highly trained in the business. Search our databse of houses, penthouses, lofts, studios, flats, apartments and other properties for rent.
If you are renting or letting a property and for all West London property rentals and lettings enquiries please contact us on 020 7644 2332
House prices have been on the rise due to a restricted supply of sellers on the market, yet despite this, figures show that one in six estate agents have had to cease trading within the last year. Research carried out by The Local Data Company shows that 142 outlets closed their doors in the 12 month period to October 2009, with Leeds, Bristol, Liverpool, London and Glasgow being the areas worst hit.
Big name casualties include Halifax, Bairstow and Savills, whilst a number of independent estate agents also had to shut down due to the effects of the global recession. 89 independents closed for business in total whilst chains of five units or more were worst hit, with 54 outlets shutting down.
“This goes to show that it isn’t just house prices that are being hit by the recession, the shockwaves are reverberating throughout the entire housing industry,”
The developing scandal of misappropriated tenants’ deposits has exposed landlords to millions of pounds of liability.Landlords bear the legal responsibility, even though it is letting agents that have spent, lost or vanished with tenants’ deposits, a London agent has said.
Eric Walker, managing director of Bushells, says there are massive flaws in the tenancy deposit legislation, which leave innocent landlords breaking the law.He believes that all letting agents should submit to regular auditing or pay all clients’ money in to a custodial scheme.
He said: “The real time-bomb is where agents hold the money in their own account and register it with a scheme, then for whatever reason cease to be members of that scheme.“This leaves the landlord with a huge liability in the event that the tenancy is extended or renewed, as the deposit is legally no longer registered.
The National Approved Letting Scheme is supporting a campaign launched by the Dogs Trust to encourage a more pet friendly approach to letting residential property. Letting Agents are being asked to back the “Lets with Pets” scheme to encourage their landlord clients to take a more generous view to letting their property to tenants with pets. Exclusion of pets is most often a standard, but the NALS points out that a significant percentage of the residential letting population are being discounted as potential tenants and customers; pet owners make up 43% of the population!
But would Letting Agents want to be responsible for encouraging Private Landlords to allow pets in their properties? Sometimes this area is best covered by an implicit exclusion of all pets, with special arrangements, assurances and agreements made, between landlord and tenant, on application. A survey conducted by the Dogs Trust indicated that many Landlords are prepared to accept pets. First thoughts are of dogs and cats, but surveys show that reptiles and amphibians outnumber dogs by two million. It is certainly preferable that any pets are agreed, rather than kept and hidden. “Lets with Pets” offers advice to Agents and Landlords on letting out property to tenants with pets.
Willesden Green, London, NW2 £235 pw
A recently refurbished one double bedroom top floor apartment close to Willesden Green Jubilee Line station and offering well laid out accomodation. Benefits include a spacious reception room, fitted kitchen with washing machine and dishwasher, fitted wardrobes to the master bedroom, bathroom with wc, plenty of storage, part furnished, available NOW!
Lechmere Road, Willesden Green, London, NW2
Lettings in Kensal Rise, London, NW10 £500 Per Week
We offer an amazing first and second floor duplex apartment within this new development located in the cosmopolitan area of Queens Park. The apartment is light, airy and spacious and includes three double bedrooms, reception room with expansive windows, open plan fitted kitchen with integrated appliances including dishwasher, two ultra modern ensuite shower rooms with wcs, family bathroom, balcony, oak flooring throughout, video entry, alarm, off street parking, available from 1st November, part furnished.
Flat to Let, Okehampton Road, Kensal Rise, London, NW10
Cricklewood Lane, Cricklewood, London, NW2, £240pw
A lovely one bedroom apartment set within a period conversion located close to Cricklewood Thameslink. Benefits include a spacious reception room with luxury open plan kitchen with all appliances, fully tiled shower room with wc, available 2nd December, part furnished.
Cricklewood Lane, Cricklewood, London, NW2
Lettings in Queens Park, London, NW6
A fantastic two double bedroom two bathroom garden apartment set in a period conversion and close to all amenities. Benefits include a bright and spacious reception room with high ceilings, master bedroom with ensuite shower facilities, fully fitted kitchen with modern appliances and leading to private rear garden, second double bedroom, family bathroom with shower and wc, available from 1st November, part furnished!
Flat to Let, Queens Park, London
Lettings in Willesden Green, London
Within this private development we offer a recently refurbished one double bedroom third floor apartment near transport and amenities. Benefits include a bright and spacious reception room, double bedroom, open plan fitted kitchen with all appliances, bathroom with shower and wc, communal gardens, lift, available 4th November, part furnished.
Walm Lane, Willesden Green, London, NW2
