FAQ
Should you require any information regarding the Letting process please contact one of our property consultants who will be happy to help answer any questions you may have.
Check out our Landlord FAQ below for answers to frequently asked questions:
What costs are involved with letting my property?
Energy Performance Certificate – A Legal Requirement
It is a legal requirement to arrange for an EPC to be carried out prior to marketing your property. Contact Alphabet City to arrange an EPC from £85.00 + VAT. An EPC report is valid for 10 years.
Safety Certificates - A Legal requirement
As a Landlord you have a legal requirement to ensure that you carry out annual checks of the gas and electrical appliances in the property. At the commencement of each tenancy any carbon monoxide device along with all smoke alarms will also require testing. At the start of each tenancy, Health and Safety legislation also requires Landlords to carry out risk assessments for Legionella bacteria which can cause Legionnaires disease. We have obtained combined safety certificate packages that ensure you carry out all your legal requirements as a Landlord at a competitive price. Contact Alphabet City for a quote for your property.
Professional Inventory
We always recommend that an independent, professional Inventory is taken at the start and end of tenancy; it’s the best way to ensure your investment is protected. A professional Inventory describes the property in detail and includes a thorough list of contents with the exact condition specified. In addition, an extensive photographic record is made.
This document will form the basis on which the return of deposit, or part thereof, is calculated at the end of tenancy. The tenancy deposit schemes require unambiguous evidence for retentions should there be a dispute. Contact Alphabet City for a quote for your property.
Professional Cleaning
When a property is fully professionally cleaned prior to the first tenancy, the standard is set for tenancies to follow. Tenants are required to return a property to the same standard of cleaning as received. We can recommend local professional cleaning companies, who will be happy to provide a FREE estimate for you. Contact Alphabet City for a quote for your property.
Landlord Services
We are able to arrange a number of additional services that you may require from property maintenance, furnishings, appliances and purchases prior to the commencement of tenancy. Please advise what additional services you require and we will obtain estimates and revert to you for instruction. Contact Alphabet City for a quote for your property.
Commission
Alphabet City charges a commission fee for introducing a Tenant and setting up a legally binding contract between you (the Landlord) and the Tenant(s). Our commission is based on an agreed percentage of the annual rental income plus VAT, at the prevailing rate. Our Let Only commission fee is payable upon move in for the full term of the contract. Our Fully Managed commission fee is paid on a monthly basis and applied to your account. Click here to view our fee structure.
Do you charge for marketing my property?
If you market your property with Alphabet City for Rental, we will cover your marketing costs subject to our Terms of Business. Click here, to review our Terms of Business
How does it work?
How do you conduct viewings at my property?
All appointments will be accompanied by one of our professional property consultants. We will discuss your preferred viewing arrangements prior to the marketing process and work in line with your preferred viewing days and times. All viewings will be carried out during business hours and you will be advised 24hrs before all appointments are carried out. If your property is Tenanted, we will require the Tenants’ names and contact details, so that we can call to introduce ourselves and work with them to arrange access. We are always considerate of the fact that the property we are letting is someone’s home and we try to accommodate viewing preferences.
Should I be present for viewings?
It is not necessary for you to be present for viewings if we have full access, as all viewings are accompanied by a property consultant. Please note that most Tenants prefer to view properties where the owners are not present.
I would like my property fully managed by Alphabet City, what does this include?
Alphabet City manages a large and diverse property portfolio. With over 25 years of property management expertise, we pride ourselves on offering a bespoke service for our Landlords. A fully managed service starts when the Tenant signs the contract at move in, through to the termination of contract and settlement of the deposit return. As a Landlord you will have access to an exclusive 24/7 Property Profile, that is an online dashboard where you can access everything you need to know about your property.
We take the stress out of letting your property. We care for the day to day running of the tenancy on your behalf, from Tenant queries, handling maintenance and repairs, arranging renewal contracts, conducting property visits with full reporting, arranging purchases, inventories and much more. Please review our Property Management Page for a full breakdown of the services we offer. Speak to one of our property consultants who will be delighted to discuss our Full Management Service with you.
How much deposit is requested from the Tenant and what happens to it?
A standard deposit amount is between a calendar month’s rent and six weeks rent. The deposit is payable by the Tenant at move in. All deposits paid by a Tenant for an Assured Shorthold Tenancy are registered with a recognized deposit scheme within 28 days of the commencement of tenancy. The deposit schemes guarantee that should an issue arise with a return of deposit, they will adjudicate the matter based on the evidence submitted.
The deposit should be registered in your chosen deposit scheme as set out in the Tenancy Agreement. If you will be managing the property personally, you will be responsible for registering your Tenant’s deposit and providing proof of registration.
If you have instructed Alphabet City to manage your property, we will register the deposit with the TDS, The Dispute Service, and hold the deposit as stakeholder resulting in a faster and more efficient return of deposit process.
How much does an Inventory cost and who pays? Who should arrange this?
A professional Inventory cost will vary depending on the size of the property and if it is presented furnished or unfurnished. The Landlord is responsible for paying for the Inventory at the start of tenancy, and the Tenant is responsible for the Inventory cost at check out. Alphabet City can arrange an Inventory on your behalf.
What happens if the Tenant reports maintenance?
If you manage the property personally, it will be your responsibility to speak to the Tenants and deal with maintenance required and instruct the appropriate qualified tradesperson to undertake the repair.
October 2015 saw important changes to Section 21 Notices. Should maintenance not be handled appropriately this could impact on a Landlord’s right to gain possession of his property. Please contact us for a fuller discussion.
If your property is fully managed, Alphabet City will manage maintenance via an online reporting system with a multi-language capability and photo upload area. The facility is accessed via the 24/7 Property Profile. Accuracy in reporting enables us to quickly instruct the right contractor to get the matter resolved. You will be kept up to date regarding maintenance, estimates and costs. All minor repairs up to a pre-agreed amount will automatically be instructed on your behalf. For any larger maintenance issues, you will receive notification in writing along with corresponding estimates and reports. Contact our Property Management Team who will be happy to discuss any queries you may have.
When should I expect to receive my rent?
The Tenant will pay the rent on the rental due date as per the terms of the contract. The Tenant will set up a standing order / online payment at the start of tenancy. It can take up to 3 working days for the rent to clear into the nominated account from the rent due date.
If Alphabet City manage your property we aim to have the rental paid into your account within 10 working days from the rental due date, subject to receiving the rent on time.
Other Questions
I want to let my property. Do I need to advise my mortgage lender?
Yes, you must obtain permission from your mortgage lender and inform us of any special conditions that they may impose.
We will require a copy of the conditions in writing.
Do I need Landlord Insurance?
Yes. Being a Landlord is complex and renting out your property is seen as a commercial transaction, you should be adequately covered for any eventuality. A Landlord Insurance policy needs to be tailored to your property and personal requirements so you have adequate cover. Using a specialist in Landlord Insurance will help to ensure you have the right policy. We recommend Homelet, click here for further information.
I am not a resident in the UK, do I pay tax on my rental income?
If you live abroad for six months or more per year, you are classed as a ‘Non-Resident Landlord’ by HM Revenue & Customs. For further information regarding your tax requirements please click here.
Fees
Standard Fees
Fully Managed 15% + VAT
Alphabet City manages the property on a daily basis throughout the length of the tenancy. Click here for details of our Managed Service.
Let Only 10% + VAT
Alphabet City will arrange everything on your behalf up to the point of move in and the tenancy will then be handed over to you to manage. Click here for details of our Let Only Service.
If you wish Alphabet City to let or manage more than one property on your behalf, please contact us to discuss a tailored fee for your property transaction.
For a full breakdown of Alphabet City Company Charges, please click here.
Terms
As a transparent agent we disclose our Fees and Terms & Conditions upfront so you can be confident in using our service. Please download our Terms of Business here.
