LANDLORDS

RESIDENTIAL LETTINGS SERVICES

Whether you are a residential property owner renting out a second property, a buy-to-let investor looking to maximize your returns or a professional ‘portfolio landlord’, OASiS offer four levels of Residential Lettings and Property Management Services, each of which is tailored to your situation and to the level of involvement you wish to have in the management of your property.

LETTING ONLY SERVICE  12% incl VAT (10% plus VAT)

• Initial Appraisal and Advice on Preparing the Property for Letting
• Access to Free Mortgage Advice Via Our Financial Services Department
• High-Quality Digital Photography
• Floor Plan
• Online Marketing Campaign Including Listings on Rightmove, Zoopla, Boomin and oasisestateagents.com
• Advertising on Social Media
• Email Alerts to Our Tenant Database With Property Details
• Prominent Window Displays From Our Town Centre Office Location
• Proactive Telephone Contact With Prospective Tenants to Generate Interest
• High-Quality Colour Property Brochures
• Arranging and accompanying all prospective tenants’ viewings
• Text and/or Email Confirmation For All Viewings
• Regular Viewing Feedback and Updates on Market Response
• Expert Negotiation of Offers Made
• Collection of The First Month’s Rent and Security Deposit
• Full references taken on any prospective tenants (Charged at £72 incl VAT per tenant reference)
• Preparation of the Tenancy Agreement and Arranging For All Parties to Sign and Deregulation Act Compliance Pack (Charged at £390 incl VAT)
• Registration of the Security Deposit With the Tenancy Deposit Scheme (Charged at £60 incl VAT)

LETTING & RENTAL COLLECTION SERVICE 15% inc. VAT ( 12.5% plus VAT)

As per Letting Only Service PLUS:

• Collection of the Rent for the Duration of the Tenancy
• Forwarding of Rent to The Landlord’s Nominated Bank Account After Clearance of the Funds Received
• Collection of Our Commission Monthly Rather Than Annually In Advance
• Statements Sent Via Email Showing Rent Received and Any Deductions
• In the event of late payment by the tenant, we will actively pursue on your behalf up to the serving of notice

PROPERTY MANAGEMENT SERVICES

FULLY MANAGED SERVICE 18% inc. VAT (15% plus VAT)

As per Letting and Rental Collection Service PLUS:

• 24/7 Property Management emergency call-out using our own certified and fully-insured contractors
• Periodic Property Inspections
• Transfer of Services for Council Tax, Gas, Electricity & Water (where possible) into the Tenant’s Name and Provision of Meter Readings
• Receiving Notification of Maintenance Issues From The Tenant
• Access to Our Online Maintenance and Repairs System Through FixFlo
• Automatic Notification of Maintenance Issues and Repairs Via Email
• Arranging Repairs With Fully Insured and Reputable Local Contractors
• Dealing with check-out report at the end of the contract
• Negotiation Of Deposit Deductions At The End of The Tenancy
• Organisation of any repair works that may be required at the property with full report on proposed repairs compiled prior to work commencing
• Annual renewal of gas safety inspections
• Settling of contractors’ invoices
• Negotiation of renewal contracts (annual administration charge of £120 incl VAT)

OASiS HAS TEAMED UP WITH A NUMBER OF SPECIALIST BROKERS TO OFFER OUR CLIENTS ACCESS TO SOME OF THE BEST RATES OF HOME INSURANCE TO BE FOUND

They, like us, are passionate about client service and believe that the best way to support you and deliver real value for money is through their teams of friendly and experienced staff.

As a local business, they specialise in understanding the individual needs of their clients, a factor often missed when dealing with a national or internet-based organisation, and one particularly pertinent to our riverside location.

As well as arranging new cover, they are happy to review the cover you already have in place to make sure youR current policy is suitable for your needs.

Click here for more information or please let us know and we will arrange for a member of their team to contact you for a quote with preferential rates.

Please note, if you decide to benefit from the preferential rates you will receive for being referred by OASiS, OASiS will receive a referral fee.

WHAT YOU NEED TO KNOW AS A POTENTIAL LANDLORD

FIRE REGULATIONS GOVERNING FURNISHED PROPERTIES

Under the 1988 Fire Regulations Act, it became law from March 1993 onwards that any property let furnished must comply with that Act. Therefore, any furnishings (except pre-1950s) left with a property must comply with BSI standards. Failure to comply with these regulations now carries a heavy penalty of £5,000 or a six-month prison sentence if not adhered to.

There is obviously a financial limit that landlords will wish to go to when furnishing a property. We, therefore, recommend that items of specific, intrinsic or sentimental value are not left within the property. To the same extent, expensive china or glassware is not considered suitable and certain electrical items we recommend are not to be left due to their costly repair liability. These include: Food Mixers, Televisions, Computers, DVD Players, Hi-Fi Equipment, etc.

ELECTRICAL & GAS REGULATIONS

It became Law in October 1994 for all gas appliances within a property to be serviced and safety checked at least once every 12 months by a Gas Safe registered engineer. The revised gas regulations also stipulate that a certificate must be available for the tenants’ inspection, proving that the services have been carried out. We can arrange for such services to be carried out by our recommended registered engineers or a Landlords choice of registered engineer.

In order to comply with various legislation, including the Landlord and Tenant Act 1985 and Consumer Protection Law, landlords are required to ensure that electrical installations and appliances are safe. Oasis can organise this certification for you.

ENERGY PERFORMANCE CERTIFICATE EPC

From the 1st October 2008, an EPC must be available to prospective new tenants. They are valid for 10 years. Your property cannot be advertised without one. OASiS can organise this assessment for you.

LEGIONELLA

In order to comply with the Health and Safety Executive’s Code of Practice, landlords should carry out a risk assessment on hot and cold water systems at their property to determine the risk of Legionella, especially if there are open water tanks, cooling systems or a swimming pool. Works may need to be done to make the property safe for habitation.

SHOULD I TELL MY MORTGAGE COMPANY? (If I do not have a buy to let mortgage)

It is usual for the following parameters to apply to the above question if the mortgage company is to agree:

1. In some cases, a higher rate of interest may be charged.
2. In some cases, your mortgage company will levy an administration charge.
3. References and tenancies may have to be seen by the mortgage company before granting permission.
4. The mortgagors may insist on the correct documentation to ensure reoccupation. They may also insist on the management being conducted by a recognised body such as a member of the National Association of Estate Agents (NAEA) or the Guild of Professional Estate Agents (GPEA), or the Guild of Lettings and Management (GLM).
5. It is usual for a length of time to be set that the property can be let for.
6. Permission will usually only be given if the mortgage account has been managed to the lender’s satisfaction.

WHAT ABOUT TAX?

It is necessary to prepare accounts each year on all properties let, whether they are furnished or unfurnished. Your accounts should be presented to the Inland Revenue indicating what taxation liability might arise. Tax Liability is assessed on the tax year running from 5th – 4th April. You are able to claim many allowances when letting your property that can be deducted from your profit.

Such allowances included letting agents fees, solicitors fees, accountant fees, maintenance and repair work carried out during the letting or wear and tear allowance, leasehold, ground rent and service agreements on central heating and other appliances. Mortgage interest can also be offset.

The responsibility of payment of tax depends on whether or not the Landlord lives in the UK or abroad. If the Landlord lives in the UK then the Inland Revenue will assess the Landlord for the appropriate tax. If the Landlord is abroad then the letting agent will be assessed for tax and will be responsible for paying it on the Landlords behalf. This is done on a quarterly basis direct to the Inland Revenue at the current rate of tax of the net rental.

Since the introduction of self-assessment, it is now possible for Landlords to apply for an exemption certificate by completing a “Non- Resident Landlord Form” allowing the agent to continue paying the rental without deduction of tax.

MAINTENANCE… WHO IS RESPONSIBLE FOR WHAT?

As a rule of thumb, The Landlord is responsible for exterior and interior maintenance. The Tenant has a responsibility to show a duty of care to the property and contents. As part of our property management services, we arrange periodic inspections of your property to ensure that the tenants are fulfilling this obligation. These include less formal inspections at six weeks from commencement to get a feel for how the tenants are getting on and advise them of any concerns we may have early in the tenancy. We also return for a further visit before termination of tenancy to advise on any issues which may require addressing to avoid any deposit disputes.

UTILITIES & OTHER COSTS

The Tenant will be responsible for the council tax, gas, water, electric and telephone accounts. The Landlord will remain responsible for buildings and contents insurance and any other outgoings such as service charges, ground rent etc.

INSURANCE

Insurers must be notified of the letting of your property so that the policy on the structure and contents may be endorsed. Insurance will be invalid if insurers are not correctly informed. OASiS also advises that insurance specific to contents cover is arranged to protect against possible damage by Tenants. OASiS cannot be held responsible for loss or damage to the contents while the property is let. We are pleased to be able to offer a full range of specialist tailor-made insurance for Landlords at competitive rates, including policies that protect against rent default.

WHAT ARE THE DIFFERENT SERVICES OFFERED BY OASiS?

OASiS currently offers four levels of Lettings service: –

• Let Only
• Let Only and Rent Collect
• Full Management
• Premium Managed

For a full breakdown of the various service levels please visit our Landlord Services page for a more in-depth explanation.