Landlords
Or clients as we like to call you. Play a vital part in the continuation of the private rented sector in providing high quality homes for tenants as well as nurturing an investment that should grow with you. Our relationship with you should go beyond our contractual commitment, we genuinely care about your well-being and your future. It may seem surprising, but your success matters to us, and we are dedicated to understanding your needs and goals.
Gone are the days of the old-school approach and the philosophy of settling for “That’ll do for a tenant” when it comes to the condition of the property. The landscape of laws and regulations is in constant flux, making it increasingly challenging for landlords who find themselves navigating a maze of tax changes and regulatory reforms. Many landlords face the risk of fines and/or even imprisonment due to non-compliance.
Rest assured, we are here to ensure you never fall afoul of the law. Our team’s expertise and specialised skills are not only focused on securing the best rental income and tenants for you but also on safeguarding the condition and value of your investment. While tenants are ultimately responsible for their behaviour, we take proactive measures to prevent your investment from deteriorating under poor management. With us, your investment will thrive in this new era, and you can have peace of mind knowing that your property is in the most capable hands.
Fees
At VSL, we hold a steadfast commitment to transparency and unwavering compliance with Consumer Protection Regulations, The Property Redress Scheme as well as our regulatory membership body at Propertymark. We strongly advocate for our clients to take our Fully Managed service, particularly considering the ever-evolving legal landscape, which can be challenging to navigate while staying fully up-to-date and compliant as well as maintaining thorough up to date records and audit logs.
Below you will find a list of our fees:
Set up costs for a Fully Managed Service (pre tenancy)
£650 + VAT (Inc VAT £780)
These costs encapsulate a multitude of services listed below
- Full enhanced marketing package that includes professional imagery, a lifestyle driven write up, room measurements and floor plans where required.
- Advertising on our own site, On the Market, Zoopla and additional exposure on our social media platforms.
- Pre-tenancy checking and setting up the tenancy ensuring you are compliant with legislation
- Arranging and advising on any and all works required prior to the commencement of the tenancy (including organising contractors)
- Proactive ring out and emailing of all registered applicants to generate further activity and tenant matching
- Viewings conducted by a skilled professional that knows your property intimately
- Follow up and regular feedback on viewings through a meticulous strategy
- Negotiation and agreeing the best tenant for the best rent in a timescale that suits you
- Comprehensive Inventory and Schedule of Condition to identify the property condition.
- Drafting, negotiating and agreeing specific clauses where necessary to go into your tenancy agreement aligning with requirements under the Consumer Rights Act 2015
- Ensuring on the tenancy sign up paperwork is in place as per the Deregulation Act 2015
- Signing of the paperwork as the agent on behalf of the landlord
- Taking the initial move in monies and providing the tenants standing order mandate
- Registration and signing of the deposit through a government approved scheme (TDS) and notifying the tenant with the statutory information within the legal timeframe
Fees during tenancy.
Fully Managed Fee:
12% plus VAT (Inc VAT 14.4%)
- The main contact between landlord and tenant
- Collecting and processing the rent
- Accounting to you monthly including statements and annually where requested
- Coordinating essential and routine maintenance through our approved contractor panel whilst still allowing you your choice of contractor if necessary (who must have the necessary indemnity and liability insurances in place)
- Routine visits every tenancy term.
- Annual gas safety organisation and serving/evidencing the relevant certificate to the tenants within the statutory time frame
- Rent increase and tenancy negotiations.
- Chasing arrears and serving the statutory correspondences
- Advising you on your statutory position where neccessarry
- Serving the relevant section notices to regain possession
- Finalising the end of tenancy, ensuring the tenant is checked out and the property is returned to its original condition allowing fair wear and tear.
- Negotiating the deposit release
- Re-marketing strategies
Tenancy Renewal Fee:
£85.00 + VAT (Inc VAT £102)
- Current market assessment
- Inviting both landlord and tenant to renew
- Negotiating the term
- Negotiating the rent
- Negotiating any additional special condition clauses
- Drafting of the new agreement
- Arranging the signing of the new agreement for both parties so that a new term is entered in to
- Associated administration in documenting the entire process and safe storage of the necessary documentation and maintaining audits.
Specialist Rent Guarantee and Legal cover:
We purchase the policy on your behalf and you are the interested party registered on the policy. This means we will handle all aspects of the claim on your behalf, saving you time and ensuring you still benefit from your rent and legal cover. For more information visit our rent and legal section here: https://votta.co.uk/rent-legal-protection/
Set up costs for Rent Collection Service (pre tenancy):
£650 + VAT (Inc VAT £780)
These costs encapsulate a multitude of services listed below:
- Full enhanced marketing package that includes professional imagery, a lifestyle driven write up, room measurements and floor plans where required.
- Advertising on our own site, On the Market, Zoopla and additional exposure on our social media platforms.
- Pre-tenancy checking and setting up the tenancy ensuring you are compliant with legislation.
- Arranging and advising on any and all works required prior to the commencement of the tenancy (including organising contractors)
- Proactive ring out and emailing of all registered applicants to generate further activity and tenant matching.
- Viewings conducted by a skilled professional that knows your property intimately.
- Follow up and regular feedback on viewings through a meticulous strategy.
- Negotiation and agreeing the best tenant for the best rent in a timescale that suits you.
- Comprehensive Inventory and Schedule of Condition to identify the property condition.
- Drafting, negotiating, and agreeing specific clauses where necessary to go into your tenancy agreement aligning with requirements under the Consumer Rights Act 2015
- Ensuring on the tenancy sign up paperwork is in place as per the Deregulation Act 2015
- Signing of the paperwork as the agent on behalf of the landlord
- Taking the initial move in monies and providing the tenants standing order mandate
- Registration and signing of the deposit through a government approved scheme (TDS) and notifying the tenant with the statutory information within the legal timeframe.
Fees during tenancy:
Monthly Rent Collection Fee:
7% plus VAT (Inc VAT 9%)
- Collecting and processing the rent
- Accounting to you monthly including statements.
- Rent increase and tenancy negotiations.
- Chasing arrears and serving the statutory correspondences
- Finalising the end of tenancy, ensuring the tenant is checked out and the property is returned to its original condition allowing fair wear and tear.
- Negotiating the deposit release.
Tenancy Renewal Fee:
£85.00 + VAT (Inc VAT £102)
- Current market assessment
- Inviting both landlord and tenant to renew
- Negotiating the term
- Negotiating the rent
- Negotiating any additional special condition clauses
- Drafting of the new agreement
- Arranging the signing of the new agreement for both parties so that a new term is entered in to
- Associated administration in documenting the entire process and safe storage of the necessary documentation and maintaining audits.
Specialist Rent Guarantee and Legal cover:
We purchase the policy on your behalf and you are the interested party registered on the policy. This means we will handle all aspects of the claim on your behalf, saving you time and ensuring you still benefit from your rent and legal cover. For more information visit our rent and legal section here: https://votta.co.uk/rent-legal-protection/
Please note on a Rent Collection Service we cannot confirm, should we need to in court, that you have honoured your statutory repairing obligation therefore you must ensure you have the sufficient evidence for us to assist you with your claim, failure to honour your statutory obligation will invalidate any rent guarantee and legal policy.
Set up costs for a Tenant Introduction/Let Only Service (pre tenancy):
- Full enhanced marketing package that includes professional imagery, a lifestyle driven write up, room measurements and floor plans where required.
- Advertising on our own site, On the Market, Zoopla and additional exposure on our social media platforms.
- Pre-tenancy checking and setting up the tenancy ensuring you are compliant with legislation.
- Arranging and advising on any and all works required prior to the commencement of the tenancy (including organising contractors)
- Proactive ring out and emailing of all registered applicants to generate further activity and tenant matching.
- Viewings conducted by a skilled professional that knows your property intimately.
- Follow up and regular feedback on viewings through a meticulous strategy.
- Negotiation and agreeing the best tenant for the best rent in a timescale that suits you.
- Drafting, negotiating, and agreeing specific clauses where necessary to go into your tenancy agreement aligning with requirements under the Consumer Rights Act 2015
- Ensuring on the tenancy sign up paperwork is in place as per the Deregulation Act 2015
- Signing of the paperwork as the agent on behalf of the landlord
- Taking the initial move in monies and providing the tenants standing order mandate
£850 + VAT (inc VAT £1,020)
Services not included with Let Only/Tenant Introduction but can be purchased separately:
- Inventory and Schedule of Condition: £85.00 + VAT (Inc VAT £102) for a studio property + £5 + VAT (Inc VAT £6) per additional bedroom
- Registration and signing of the deposit through a government approved scheme (TDS) and notification to the tenant: £30 + VAT (Inc VAT £36)
- End of tenancy checkout: £80 + VAT (Inc VAT £96) for a studio property + £5 + VAT (Inc VAT £6) per additional bedroom
The lettings journey
The process of letting a property has become increasingly intricate, whether you are a seasoned landlord or new to the world of property management. With over 170 pieces of legislation governing residential lettings, landlords and letting agents are under constant scrutiny within the industry. It’s high time we unite to navigate these challenges together.
Below, we provide a condensed walk-through guide to the property letting process. While we harness the power of modern technology and its incredible tools as well as advanced customer service and sales skills to find that crucial tenant, we also value the timeless practice of direct communication in simply picking up the phone. We’re here to guide you every step of the way, assuring you that you are in the most capable hands.
We firmly believe in the principle that ‘people buy from people,’ and our relationship with you is built on a foundation of trust, integrity, respect, and professionalism. Our journey together will be not only productive but also enjoyable, thanks to a proven strategy honed over years of experience. There has never been a more prudent and essential time to engage the services of an accredited and regulated property management agency than now.
Welcome to a new era of property management excellence.
Finding and selecting your agent
Many landlords will call a number of agents out to value their property because it’s a free service and you only pay one agent when the job is done. Why waste your time and confuse yourself with too many? Make the decision based on the following tips:
- The way that agent markets their properties, does the marketing look the best it possibly can be? How will they go about this?
- How many properties do they have on their books? If it is a lot then what will they do to ensure you and your property gets the desired attention you want?
- What’s their knowledge of the local market?
- Are they regulated and do they have a strict code of conduct?
- Do they belong to a redress scheme?
- Do they have client money protection?
- Do they display their fees as per Consumer Protection Regulations?
- Most importantly what is their complete knowledge of lettings? Anyone can be an agent but not everyone will get it right and be able to represent your statutory rights.
- What’s their ongoing training strategy?
- Where have they got the rental figure from? Are they just trying to win your business with an inflated number and tell you what you want to hear or are they genuine?
- Who will be your main contact? Or as soon as it’s let will you be passed over to a centralised call centre where no-one knows you (if managed)?
- What timescale would that agent look to get the property let?
- What makes their agency stand out from the rest?
- Do you need to do anything to get the property up to the current standards for let? Do they conduct a visual risk assessment on your visit?
- Who will be showing the prospective tenants around and what’s their experience?
- What are the agents opening hours? You want maximum exposure and a successful chance of letting, never miss an opportunity to show someone around.
- What level of service are you expecting from your agent?
- What do their customers say about them? Check out their reviews online.
That’s just a few things to consider, to find out more go to the about us section. https://votta.co.uk/about-us/
Are you ready for the market
As we are all aware, the vast majority of initial property searches are conducted online. Hence, it is imperative that we distinguish your property and make it shine amidst the competition. Our goal is to secure maximum exposure, ultimately attracting the highest-calibre tenants who are willing to pay a premium rent.
So, how do we achieve this? While it may seem straightforward, it’s surprising how many landlords overlook this critical step, falling back on the notion that ‘it’ll do for tenants. When the photographer arrives, your property should be prepared to showcase its best features, captivating the right audience from the outset.
Feel free to explore our marketing section for a glimpse into our commitment to excellence. When it comes to photographing your property, presentation is paramount. https://votta.co.uk/marketing/
Your property must also adhere to current standards. At VSL, we conduct a thorough risk assessment during our property walk-through. We take pride in advising you on your statutory obligations, even if some of it might not be what you were expecting to hear. Our primary objective is to safeguard your interests.
We possess the capability to begin marketing your property well in advance of any necessary improvements. With our unique photography and marketing prowess, we can generate interest while you address any required updates. Alternatively, we can manage the process for you through our network of trusted contractors (see contractors’ section here https://votta.co.uk/contractors/ ). In any case, it is essential that your property is presented in the best possible light within your budget, ensuring a strong start to any tenancy.
Getting you noticed
After you’ve entrusted us with your property, we swing into action by meticulously preparing it for listing on our advanced software platform. Every essential detail is meticulously organised, ensuring that your property is ready to make its mark. We don’t rely solely on passive website listings; instead, we proactively engage with our extensive pool of pre-approved tenants who are already registered with us first of all.
We refuse to sit back and let the websites do the heavy lifting; we actively hunt for your next tenant! Leveraging a variety of cutting-edge tools, we create a captivating online presence and generate excitement across social media platforms.
Our website serves as a dynamic shop window and an invaluable resource for landlords and tenants alike, offering 24/7 access to a wealth of information at their fingertips.
In this era of social media dominance, we harness its immense potential to yield exceptional results. We’ve found that traditional platforms often fall short in gaining the traction necessary to get your property noticed by a wide audience. That’s why we’ve adopted a strategic approach that ensures your property stands out and reaches the masses effectively.
Viewings
By this stage the property should be ready to view, we can inform potential tenants of any works scheduled however it does at least need to be ready for presentation See our guide on being market ready here: https://votta.co.uk/are-you-market-ready/
In our efforts to generate excitement around your property, we take a thoughtful approach to viewings. Instead of cramming multiple prospective tenants into a single chaotic open house event, we schedule several viewings at a specific time and date, with allocated slots for each customer. We understand that a crowded viewing can create a less-than-ideal experience for potential tenants, and we aim to make their first impression a positive one.
It’s worth noting that some agents still rely solely on virtual viewings, which we find surprising. After all, how can you truly gauge your next tenant’s suitability without observing them in person? We believe in the value of an in-person experience – after all, would you choose your next home from a screen, or would you prefer to see it in person?
Each prospective tenant is given an allocated slot and time with our agent to ask questions and gather information, enabling them to make an informed decision. Rest assured, we are well-prepared, having completed a comprehensive property questionnaire with you in advance. This allows us to effectively highlight the unique features and advantages of your property.
While some customers may arrive early or late, this can actually work in your favour, showcasing the high demand for your property and encouraging prospective tenants that your property is the right choice for them. We also offer flexibility, accommodating suitable applicants even if they can’t make the allotted day. Our focus is on finding the right tenant for your property, not just the first one. We firmly believe that no tenant is better than a bad one, and we prioritise quality over haste.
The selection process
This stage of the process is undeniably crucial, as making the wrong decision can have far-reaching consequences, depending on the service level you opt for. Opting for a fully managed service is the prudent choice, as it not only alleviates stress but also offers significant financial advantages. This includes tax-deductible allowances, maintaining market-value rents, and navigating the complex legislative landscape so you are always compliant—challenges that no landlord should face alone, just to name a few of the numerous benefits.
With a property that boasts the right price, location, and condition, it’s no surprise that the interest we’ve generated often leads to multiple applications. In such cases, we meticulously compile the details of each application in writing, empowering you to make an informed and confident decision.
Once you’ve made your selection, we handle the delicate task of delivering the unfortunate news to unsuccessful applicants. Simultaneously, we initiate the process and set target dates for the successful applicants, ensuring a seamless transition to the next phase.
Tenancy set up
After you’ve selected your preferred tenant, there’s a substantial amount of paperwork that must be completed to initiate the tenancy. The good news is that the landlord’s responsibilities are nearly concluded at this point, as it becomes our responsibility to handle the tenant and all other aspects related to the tenancy. Our meticulous attention to detail and compliance with current legislation ensures the creation of a fully compliant tenancy setup process. Neglecting the importance of such carefully crafted documentation, served at the appropriate time, could potentially lead to an indefinite tenancy.
We conduct thorough referencing checks on your prospective tenant to verify that they meet the required criteria. If they pass these checks, you also become eligible for our specialised Landlord Rent Guarantee and Legal Cover, which you can learn more about in our Rent and Legal section [ https://votta.co.uk/rent-legal-protection/ ]
The government has introduced various regulations and documentation requirements that must be in place at the commencement of the tenancy, ranging from deposit protection to the latest version of the government’s ‘How to Rent’ guide. We ensure that all necessary certificates are obtained, and any notices, clauses, or conditions comply with current regulations and are served at the statutory required times as well as evidenced.
In the case of our Managed and Rent Collection services, we will sign the tenancy agreement on your behalf. The tenant will sign their respective version and set up their standing order for rent payment. Our fee is deducted from the first month’s rent in advance. Copies of the agreement, along with all other required documentation under the Deregulation Act 2015, will be provided, and the tenancy will officially commence.
Ongoing Management
This next section pertains exclusively to those who have opted for our Fully Managed service. If you have chosen our Let Only service, our responsibility concludes here, and for all tenancy-related matters, you, as the landlord, will be solely accountable. In such cases, we recommend seeking advice from a specialised solicitor with expertise in landlord and tenant law, unless you have purchased additional add-ons that provide the necessary income for us to offer specialised and bespoke advice. Please understand that this distinction is not intended to be obstructive, but rather, it ensures that our Managed service can maintain its high standards by generating sufficient income to provide exceptional service to our customers. Please see our consultancy page here: https://votta.co.uk/consultancy-and-training/
(For Fully Managed Service Only)
Now that the tenancy has officially commenced, we relieve you of the burdensome, time-consuming, and stressful legislative tasks associated with being a landlord. Your role is simplified to liaising with us when we require your consent for work instructions, tenancy renewals, or if there are any legislative updates that require your attention.
The remaining responsibilities are handled by us on your behalf, allowing you to relax with confidence, knowing that your rent is being received promptly and the tenancy is being managed compliantly by our highly skilled agents, who prioritise your best interests.
We take pride in our exceptional letting agent banking and accounting system, which many of our landlords greatly appreciate for its transparency, information availability, and same-day payment capability. To discover more and explore how the owner app can benefit you, please visit: https://za.payprop.com/customers
Rent & Legal Protection
