Landlords Guide

guarenteed-rent-365-days -a-yearGlobe Residential Limited is a well known established company and is an independent estate agent in Bethnal Green. Our success is due to the quality of service we have been providing to our landlords as well as ensuring that the properties we have been entrusted to look after, is always kept to the highest condition. We are extremely proud of our reputation and also of the fact that our very first landlord is still with us today!

Please find below, the list giving various options for potential landlords. If you have any questions, please do not hesitate to contact us direct to discuss with a senior member of our team.

Packages

OPTION 1 – Guaranteed Rent Scheme for Landlords

(This service is our most popular scheme and is suitable for those who want a total hassle free service and a peace of mind)

The main benefits of the scheme are:
• 2-5 Year leasing
• No Commission Fee’s
• No admin Fee’s
• No maintenance Fee’s
• No void period
• Guaranteed monthly rent paid
• Full colour inventory
• Property returned back to original condition
 
OPTION 2 –  Lettings Only Service: 7%
This service will suit those who have the time and experience to manage the property themselves.

OPTION   3 – LETTING ONLY WITH RENT COLLECTION: MONTHLY DEDUCTION 7% NO UPFRONT FEE 
This service will suit those who are happy to deal with maintenance issues themselves but do not want to deal with rent collection. In addition to the services included in the letting service, we will arrange payment to the Landlord and rent collection from the Tenants. As soon as the cleared funds appear in our client account we will pay the rent to the Landlord after deducting our commission. We will contact the tenant(s)
to demand payment if rent is not paid on due date but will not instigate legal action. We can recommend solicitors who will be able to help you.

If, in the event of any case going to trial and we are called as witnesses, our fee shall be £300.00 per day.

OPTION 4 – FULL MANAGEMENT:
8% MONTHLY MANAGEMENT WITH NO UPFRONT FEE, SPECIAL PROMOTIONAL OFFER ON MONTHLY DEDUCTION

This service will suit those who do not wish to have any dealings with their property or the tenants during the Tenancy.

Valuation and Advice
We will visit the Landlords property and make a free and no obligation assessment of the current market rental value. This figure will be dependent on a combination of factors including location, type of property (for example, from a flat that is based in a terraced house with access to the garden to a flat based on the 10th floor of a ex-local authority high rise block), furnishings, the prevailing rental market and the condition of the property (both internal and external). All of this will be discussed with the Landlord at length.

Marketing
The property will be marketed by a number of methods, examples of which may include local and/or national press, e-mail, internet (including major web portals such as FindaProperty, Rightmove, HotProperty DigitalPropertyGroup Zoopla and many more) window display and company mail shots within this area. We also on average maintain at least 200 tenants on our books that are currently looking for property in the area.

Accompanying Tenants
We will accompany all prospective tenants on visits to the property.

Inventory
It is necessary to have a thorough inventory and check-in report for every rental property. The letting only service does not include the organisation of inventories or check-ins and it is the Landlords responsibility. Globe Residential Limited can do an inventory but this will be charged separately.

Tenancy Agreement
Both the Landlord and the Tenant will sign on Assured Shorthold Tenancy provided by the Agent for a minimum length of six months. The Tenants are charged a £100.00 administration fee for the arrangement of the Tenancy Agreement. We will only sign the Tenancy Agreement on behalf of the Landlord under strict instructions.

Fee Structure
A fee of 7% of the entire contractual rent (total rental premium) is due to Globe Residential Limited upon the commencement of each tenancy or renewal of tenancy involving tenants introduced by Globe Residential Limited. In the case of tenancies with a break clause, we will only deduct our fee based on the minimum possible terms. E.g. In the case of a one year contract within a six months break clause, the tenants are able to move after six months, therefore we will only deduct our fee based on the sixth month’s rent. If the tenants stay longer than six months, the Landlord will be invoiced in advance on an ongoing basis. If the Landlord permits the tenancy to end prematurely, either through mutual consent with the tenants or through any other course of events, the fee paid to Globe Residential Limited is non-refundable.

Response to Tenant
The agent will act as the contact point for the Tenant responding to their requests and problems. As agents, we will remain neutral and objective at all times when dealing with all matters regarding the Tenancy.

Inspections
We will inspect the property every 2 months and report any adverse findings to the Landlord. This check is only superficial and is principally to look for any obvious signs of damage or maintenance problems such as leaks and damp. It is a non-expert investigation and not a structural survey of the property.

Property Repair & Maintenance
We will notify the landlord of any repairs or maintenance issue which needs to be carried out in the property. We will provide you with an estimated cost and seek permission to carry out the work ourselves. Landlords can of course arrange to do this themselves provided this is done within 7 working days (or seek a written extension from us if there is a practical reason for not being able to do this within the time frame) and to do this within an acceptable standard. If we feel the landlord is not cooperating with us, then we reserve our right to carry out this work ourselves regardless and recover the costs from rent receipt. In cases of emergency (flooding etc), we will contact you as soon as possible on the contact number(s) you have provided, but if we fail to reach you, we may have to carry this work out ourselves and recover any expenses through rent receipt.

Council Tax and Utility Bills
We will notify the local authority of the details of the tenants as well as all the utility companies (gas, water, electricity) so that the bills come direct to the tenants and not the Landlord.

PLEASE NOTE – FOR OPTION 2
If the landlord opts for the letting only service the transfer of; utility bills, Council Tax and setting up the Standing Order will be the responsibility of the Landlord. The Landlord will also be  responsible for organisation of the inventory, check-in and check-out.

*Terms and Conditions apply

contact us for more information

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