Our Letting and Rent Collection service is for East Kent Landlords who wish to self-manage without the inconvenience of finding tenants and the monthly collection and processing of rent.
When using Lidbury Property and Letting Management’s Rent Collection service, we will monitor and follow up any late payments on your behalf.
This is an ideal service for those landlords who would prefer not to be directly involved in the financial management of their tenants.
What Is Included?
An initial market valuation of your property
Our property manager has expert knowledge of the local area and are always ready to help you achieve the best possible rental value for your property.
To find the right tenants for your property we will advertise your property both on and offline.
We will advertise your property on Rightmove, Zoopla and other online portals.
We have prospective tenants who are regularly notified of new properties that match their requirements.
We pre-reference all prospective tenants.
Once we are instructed, we aim to have the property listing live within 48 hours.
The cost: Rent Collection Service...£480 (inc. VAT) paid on commencement of the tenancy plus 7% (inc. VAT) of monthly rental. This is due on a monthly basis.
Lidbury management is not VAT registered and, therefore, will not charge VAT. (Fees £400 + 5%)
After marketing your property, we will start right away with viewings.
We will conduct viewings during the day, in the evening and on the weekend.
On average, it takes us 14 days before we find the correct tenant for your property.
We always ensure tenants have been fully referenced before they move in and where applicable a guarantor is asked for.
We wouldn’t place anyone in your property that we wouldn’t want in our own investments.
Our referencing process provides identity & fraud information, written verification of employment and income, full credit checks, previous letting references and affordability calculation.
Once tenants have passed referencing and confirmed they want to move in, we will begin writing up a contract between yourselves and the tenant.
All properties and tenants are different so we write tenancy agreements which will best protect your property.
And of course, we have all agreements checked over by Landlords Guild before handing them over to tenants.
Once contracts have been signed, tenants must then pay the deposit (which will be equal to one months’ rent) and the first months’ rent before they can move in.
We will then register the deposit with DPS (Deposit Protection Service) within 5 working days.
Move in day
Once all the above is completed, it is time for the tenant to move in.
We willl meet the tenant at the property and do a basic schedule of inventory, a professional inventory company can be engaged at an additional cost, as well as our first property inspection with the tenant present.
We then hand over two sets of keys to the tenant.
Every month we will collect rent from the tenant on your behalf.
Rent collection fees are 5% (not including VAT) of the monthly rental and will be retained from the rental amount each month.
We will transfer the rent to you within five working day of it clearing our account.
In the rare case a tenant does not pay rent on time, we will chase the tenant on your behalf.
End of tenancy
Three months before the tenant’s tenancy agreement expires, we contact them regarding their future plans.
If the tenants want to continue renting your property, we will review the rent with yourselves before signing new contracts with the tenants (for a administrative fee of £50 excluding VAT).
Move out day
Whenever a tenant moves out, we will do another basic property inspection (or arrange a professional end of tenancy inventory) with the tenant and compare it with the original inventory.
If there are no problems, we release their deposit back to them.
If there are any problems, we will enter a claim against their deposit. We will then forward any deposit money onto you, the landlord.