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Our letting and Management does the following and most definitely takes the strain out of being a landlord.
| Initial Letting |
| We will obtain full details of the property and advise on any improvements which assist in letting the property |
| We will erect a signboard, if required (£25.00 + VAT Charge) |
| We will advertise the property (free for the first three weeks) in the local newspapers (Newry Reporter & Newry Democrat) and also on our website |
| We will organise accompanied viewings and selection of suitable tenants |
| We will prepare a lease and arrange for the tenant and guarantor to sign. Unless otherwise instructed we use our standard lease agreement |
| We will endeavour to obtain a reference from one of the following: an employer, former landlord, or person of standing in the community |
| We will collect and retain a deposit equivalent to one months rent, which is held to the end of the tenancy against dilapidation, damage or arrears of rent |
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It is up to the tenant to transfer electricity and other utilities (as appropriate) into their names at the commencement of the lease agreement. |
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| Fees |
| Set-up is 2 weeks of the agreed rent. |
| On renewal of existing lease we will charge an administration fee of £75.00 plus VAT. |
| The advertising is fee as outlined above. |
| Management fee is charged at 9.5% of the rental income. |
| Fees are due and payable even if the landlord dispenses with the service of the agent. |
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Set-up fee need not be paid until the property has been let and then it shall be deducted from the rent when forwarded to the landlord.
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In the event of a property being withdrawn within the first year, a fee equivalent of £250 is payable before keys or any correspondence in respect of same(i.e. tenancy agreement, tenants information, final statement etc) is forwarded to landlords |
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The landlord will be responsible for the payment of any rates on the premises. |
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McVeigh Property Rentals reserve the right to reassess fees at any time. |
| Rent Collection |
Where possible we request that a direct debit/standing order is set up. Group tenancies are advised that one person must be nominated to pay the rent by direct debit. We will pursue any rent arrears and contact the guarantor after one month has elapsed. Any expenses we have incurred such as rates, ground rents etc, will be deducted from together with our Management fees and the balance forwarded to the landlord. |
| Inventory Service |
| The fee for the preparation of an inventory (photographic & written) is £100.00 plus VAT. If you do not require this service, McVeigh Property rentals cannot be held responsible for lose of belongings left in the property. |
| Services Can Be Provided |
| The following services can be provided if required: |
| Accounts Contacts |
| One contact nominated |
| Maintenance |
McVeigh Property Rentals has its own maintenance team who carryout any repairs in the properties. Any invoice valued at £100 or under will be deducted from rental payments owed to the landlord. In respect of invoices that exceed this amount, landlords will be contacted and quoted a price for the job (this includes labour and materials). This work will not be completed until authorisation is given from the landlord. |
| Maintenance Contacts |
Joiner
Plumber
Gardener
Decorator
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Management
In brief the main functions of this service are as follows; |
| To collect rent and if requested to send a statement of account to the landlord each month. |
| To liaise with the Housing Executive on an ongoing basis. |
| To forward monies due to the landlord or lodge into a designated account every 4 weeks following the commencement of the lease. |
| To carry out a property check after the first month, and thereafter at the agents discretion. |
| To attend to repairs during the tenancy as necessary. |
| To pursue any rent arrears as necessary. |
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To carry out final property inspection and advise landlord to the outcome.
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When a tenancy is terminated for what ever reason, if the keys are not returned to our office, we will automatically arrange for all locks to be changed throughout the property. Payment for this will be covered by the tenants deposit.
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| Property Inspections |
| We will carry out a property inspection on an ongoing basis and frequent basis after the commencement of the tenancy. We will immediately advise the landlord of any problems or defects which are brought to our attention or which are apparent. We will advise the tenant in writing of any problems in respect of the way the property is being maintained. |
| Void Periods |
Our Management service function does not extend to supervision of the property when it is not let, although in the normal course of letting, periodic visits may be made to the tenants. |
Additional Information |
1. Preparing properties for tenancy
We have found from previous experience that properties which are well maintained and in good decorative order will let more easily and also are more likely to be kept by the tenants. |
2. Fire Regulations
Under the Fire and Furnishings Safety Regulations 1993 the landlord has the obligation to ensure that all furnishings comply with the fire regulations. We would recommend that all houses be fitted with smoke alarms. Health and Safety Fire Regulations information is enclosed. |
3. Electrical and Gas Appliances Regulations
The landlord is required to comply with the Electrical Equipment (SAFETY) regulations 1994 and the Gas Safety (Installation and use) Regulations 1994. Information is enclosed. |
4. Rent Restrictions (N.I) Order 1978
The landlord must advise the agent in advance if the property is restricted under the Rent Restriction (N.I) Order 1978. |
5. Taxes Management Act
Landlords residing abroad are advised that they are responsible for the payment of the tax liability @ 22%, which arises on rents, collected by the agent on their behalf. |
6. Instruction to Solicitors
In the event of the breach of covenant by the tenant, we instruct our solicitor and the landlord will be responsible for all costs. |
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