OASiS LETTINGS HELP & ADVICE

Headed up by Lettings Director Matthew Cefai, most of the team either have been – or still are – landlords themselves. So our internal rule of thumb when pre-qualifying prospective tenants is ‘would I want to let my own property to them?’. And if the answer is ‘no’, you won’t be seeing them.

But if the answer is ‘yes’, you can be equally sure that they will be fully referenced and checked, and that they will always be accompanied by an Oasis team member when they come for a viewing.

The Lettings Team are experienced, enthusiastic and knowledgeable. They are happy to offer guidance and advice to new landlords and to those who are experienced but who may need some local knowledge. That depth of expertise is also the reason why we can confidently give you realistic valuations for the per-calendar-month (pcm) rental figures you’re likely to achieve in the areas we cover. From the moment you step into the private meeting room in our prestigious landmark office in Staines-upon-Thames, you can be assured of the best service, the most transparent costs and absolute confidentiality.

If you want to be hands-on involved in the day-to-day management of your property, Oasis offers both a ‘Letting Only Service’ and a ‘Rent Collection Service’ designed to match you with tenants and additionally to ensure that your rental income is received. However, the majority of our landlords opt for our ‘Premium Managed’ or  ‘Fully Managed’ service. And of course, we also offer a professional independent inventory service and rent protection insurance.

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.

For more information, 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.

OASiS believes in the value of creating lasting relationships with all our clients. You see, even though our ‘customer’ is technically the landlord letting the property, we make sure that everyone involved in the process enjoys the full ‘OASiS experience’. It’s important to us that, somewhere down the line, anyone who’s dealt with us will want to come back to us – whether they’re renting, letting, selling or buying – for the same level of service and professionalism they received first time around.

Our duty of care means that we place your interests at the centre of the letting and renting process, ensuring that you are kept fully informed about all the prospective properties on our books. And during the subsequent process of taking up references, organising inventories and arranging contracts and deposits, we’ll keep you fully up-to-date with every development as we head towards your moving-in date. It’s our goal to make it as easy and stress-free to rent as we make it for our landlords to let.

So as well as the colour brochures with floor plans and picture galleries that you might expect, we’ll also provide you with video tours, local and aerial maps on our website along with invaluable information on local schools, leisure facilities and amenities, to help you make more informed choices about the properties that interest you.

Our instant notification service means you’ll receive emails advising you of suitable new ‘instructions’ coming onto the market before they go live on the internet. And whenever you go to a viewing, you will always be accompanied by one of the team.

And because our experienced and award-winning Oasis team are all local people, you can expect the best recommendations for our partner professionals in the area when it comes to removals or tenant insurance.

Every one of the team has been a ‘renter’ at one point or another, so we understand how you feel and, with our extensive knowledge of Staines-upon-Thames and the surrounding areas, we pride ourselves on finding the perfect rental property for you, quickly and efficiently.

WHAT YOU NEED TO KNOW AS A POTENTIAL TENANT

PRELIMINARY PAYMENT

If you wish to proceed with a rental after viewing the property, we will take one week’s rent to reserve the property and remove it from our availability list.

Please note, this fee is non-refundable should any of the four below situations occur:

• You fail to provide the necessary Right to Rent documentation before the agreed deadline.
• You fail to complete your references and sign the tenancy agreement before the agreed deadline.
• You provide false or misleading information to OASiS Estate Agents or the landlord. If this occurs the landlord is reasonably entitled to take into account the difference between the information provided by you and the correct information in deciding whether to grant a tenancy to you and is reasonably entitled to take your action in providing false or misleading information into account in deciding whether to grant such a tenancy.
• You wish to withdraw from the let or we receive unsatisfactory references. Acceptance is subject to contract and acceptable references.

GUARANTORS

In some instances, you may require a suitable guarantor in order to pass your references. An additional fee is due in order to proceed with the guarantor application. The Guarantor must also provide us with two forms of ID. Should the Landlord be happy with the concluded references the guarantor will be required to sign a copy of the Tenancy Agreement and will be bound to the terms of the agreement.

REFERENCES

You are required to provide satisfactory references within the agreed timeframe when renting a property. Failure to supply the required information will result in the application being rejected and the preliminary payment being forfeited.

SECURITY DEPOSIT

Before a tenancy commences, Tenants are required to pay a security deposit equivalent to five weeks worth of rent. The deposit is held against any damages or expenses arising during a tenancy and will not be released until after the tenants have vacated the property and all rent has been paid up to date.

Inventory, Check-In and Check-out of the Property (tenancies entered into before the 1^st June 2019)

There will usually be a check-in inspection of the property with an independent inventory clerk at the commencement of the tenancy. The cost for this is paid by the Landlord.  The Inventory and Check-In report records the condition and contents of the property at the of the tenancy commencing.  The checkout is carried out at the end of the tenancy and the cost of this is paid by the tenant.

EARLY TERMINATION/DEED OF SURRENDER

A tenancy agreement is legally binding for the agreed stated period and you are liable for the rent and utilities during this term. Any requests to break your agreement must be provided in writing and are subject to approval from the landlord. If the landlord agrees to release you from the tenancy, one of the following will apply:

• You will be liable to pay the rest of the rent due for the remaining rental period upfront before the deed of surrender paperwork will be provided.
• You will be liable for the landlord’s remarketing costs and agency fees associated with finding a new tenant and all outstanding rent until the new tenant moves in. Deed of surrender paperwork will only be provided once the landlord’s fees are paid by yourself, all outstanding rent has been settled and the new tenant has signed the tenancy agreement and given consideration. These costs are:
  • Landlord administration- £390 inc. VAT
  • Reference for new tenants- £72 inc. VAT per tenant, £90 inc. VAT per guarantor
  • Check out/Check in Fee- Between £134-£300 inc. VAT dependent on property size and furnishings

UTILITIES

Tenants are responsible for all utilities unless otherwise stated which include Gas, Electricity, Water, Council Tax, Telephone and TV Licence charges. Whilst we endeavour to provide these companies and Council with the Tenants details once the tenancy has commenced, it is the responsibility of the tenant to ensure that these are in place.

INSURANCE

The Landlord is responsible for having Building Insurance and Insurance for his own belongs and contents, but not the tenant’s belongings. We highly recommend tenants take out the appropriate insurance, which includes third party cover.

Renewal of your Tenancy (tenancies entered into before the 1^stof June 2019)

In most cases, OASiS will approach the Landlord and the Tenant, approximately two months prior to the end of the Tenancy in order to ascertain whether both parties wish to renew their tenancy agreement. If the term of the original agreement is extended there will be a charge of £120 inc VAT to cover the cost of preparing documentation, for each and every extension or renewal.

Please note, this fee does not apply to tenancies entered into after the 1^stof June 2019.

TERMINATING YOUR TENANCY

Your tenancy agreement will outline how and when a Landlord and Tenant are able to serve notice to either party. In most cases, each party will need to give two months’ notice. If the tenancy becomes periodic then the tenants are required to give one months’ notice to expire on the last day of the rental period and landlords remain at two months’ notice which can be served at any time.

In an expanding private-rented sector, landlords and tenants increasingly need a letting agent that offers detailed knowledge, quality service and fully complies with the increasing amount of legislation. Being members of the UKALA give our tenants and landlords this additional assurance.
CLICK HERE for CMP Certificate

CLICK HERE for Tenant Terms & Fees for Tenancies Entered into After 1st June 2019

CLICK HERE for Redress Scheme Certificate

CLICK HERE for our Contractor Services

THE TENANCY DEPOSIT SCHEME (TDS) IS RUN BY THE DISPUTE SERVICE LTD. IT IS AN INSURANCE-BACKED TENANCY DEPOSIT PROTECTION SCHEME AUTHORISED BY THE GOVERNMENT.

TENANCY DEPOSIT SCHEME HAS TWO MAIN ROLES:

• To protect deposits.
• To help resolve disputes about deposits.

WHAT IS TENANCY DEPOSIT PROTECTION?

Tenancy deposit protection applies to all deposits for assured shorthold tenancies that started in England or Wales on or after 6 April 2007. By law, a landlord or agent who receives a deposit for such a tenancy must protect the deposit.

TENANCY DEPOSIT PROTECTION MEANS:

• Protecting a tenant’s deposit with a government-authorised scheme such as the Tenancy Deposit Scheme;
• Providing the tenant with prescribed information about where their deposit is being protected and how it will be managed.

TENANCY DEPOSIT PROTECTION SCHEMES CAN BE ONE OF TWO KINDS

• Custodial – this is where the scheme itself holds the deposit during the tenancy.
• Insurance backed – this is where the landlord or agent holds the deposit during the tenancy, but must give it to the scheme at the end of the tenancy if there is a dispute. The scheme is insured because this guarantees that tenants will always get back the money to which they are entitled. The Tenancy Deposit Scheme is an insurance-backed scheme.

Each tenancy deposit scheme has its own rules setting out in detail how it operates. The Tenancy Deposit Scheme Rules are available from the Tenancy Deposit Scheme website and on request.

WHAT ARE THE LEGAL REQUIREMENTS?

These are contained in sections 212–215 of, and Schedule 10 to, the Housing Act 2004 (as amended). Tenancy deposit protection applies to money received by a landlord or agent that is meant to be held as security in case a tenant does not comply with their obligations.

The landlord or agent must comply with the initial requirements of an authorised tenancy deposit protection scheme within 30 days of receiving the deposit. To protect a deposit with the Tenancy Deposit Scheme, the landlord or agent needs to belong to the scheme, register the deposit on the Tenancy Deposit Scheme tenancy database, and pay a membership subscription or deposit protection charge.

A Tenancy Deposit Scheme member (landlord or agent) must also give the tenant ‘prescribed information’. This information is set out in the Housing (Tenancy Deposits (Prescribed Information) Order 2007. It must also be given to anyone who paid the deposit on the tenant’s behalf.

The prescribed information includes the contact details of the landlord and tenant, the rented property’s address, the deposit amount and a leaflet on the Tenancy Deposit Scheme.

IS MY DEPOSIT PROTECTED?

Tenants can check if their deposit is registered with the Tenancy Deposit Scheme by visiting www.tds.gb.com. If tenants have received a Tenancy Deposit Protection Certificate, they should enter the code number from that certificate. Alternatively they can enter their surname, the deposit amount, the tenancy postcode, and the date their tenancy started.

WHAT HAPPENS TO THE DEPOSIT AT THE END OF THE TENANCY?

If there is no dispute about the return of the deposit at the end of the tenancy, the landlord or agent must pay the deposit to the tenant without delay, less any deductions that the tenant has agreed.

If there is a dispute about the return of the deposit or about proposed deductions, the parties should try to reach agreement without delay. Most disputes are resolved informally in this way. But if the deposit has not been returned to the tenant within 10 days of the tenant asking for it, any of the parties can ask the Tenancy Deposit Scheme to resolve the dispute.

IF THERE IS A DISPUTE, WHAT HAPPENS TO THE DEPOSIT?

The landlord or agent can make a payment from the deposit if:

• Both landlord and tenant have agreed; or
• The court has ordered the deposit to be paid; or
• The Tenancy Deposit Scheme directs them to send the money to the Tenancy Deposit Scheme.

Once TDS has been asked to resolve a deposit dispute, the landlord or the agent must send the disputed amount to the Tenancy Deposit Scheme. By this time, the landlord or agent should have paid the tenant any part of the deposit that is not an agreed deduction or in dispute.

HOW ARE DISPUTES RESOLVED?

The person who wishes to send the dispute to the Tenancy Deposit Scheme can do this online or by completing a Dispute Application Form giving details of the dispute, and any relevant supporting documents.

The deposit holder must then send the disputed amount to the Tenancy Deposit Scheme. It will copy the dispute details to the other parties and give them 10 working days to consent to the Tenancy Deposit Scheme resolving the dispute, respond to the claim, and send in their evidence.

If all the parties agree to the Tenancy Deposit Scheme resolving the dispute, the Tenancy Deposit Scheme will appoint an impartial adjudicator to make a binding decision, normally within 28 days of receiving the parties’ consent to resolving the dispute. If landlords and agents do not reply, they are treated as consenting. In all these cases, the adjudicator will normally make a decision within 28 days after the deadline for giving evidence.

Within a further 10 days of the adjudicator’s decision, the Tenancy Deposit Scheme will pay the amount due to each party.

The adjudicator’s decision will be based only on the evidence sent to the Tenancy Deposit Scheme – there will be no hearing or visit to the property.

The adjudicator’s decision is final. There is no right of appeal to the Tenancy Deposit Scheme or to the government department in charge of the tenancy deposit protection schemes.

CLICK HERE for More Information on the Tenancy Deposit Scheme

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.

For more information, 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.