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Lettings & Property Management In Fitzrovia, Soho, Covent Garden, Bloomsbury, Marylebone

Renting your property can be both time consuming and expensive. There are a number of options and these are discussed in some detail below:

West End Letting Agents: Getting Organised

Letting and property management agents provide a number of different types of services to landlords. The level of service will very often determine the amount they charge. Charges are usually commission, based on the annual rental income of your property. You should therefore discuss and compare the charges of different agents in your area. Typically rates vary between 8% and 15% plus VAT. Some agents deduct the commission upfront whilst others make a deduction as they collect the rent.

• Introduction Only: The introduction service offered by letting agents very often gives landlords the most basic of all services available. It consists of finding suitable tenants for your property, applying for references, preparing the tenancy the tenancy agreement and collection of the first month's rent and deposit. The letting agents' charges are deducted from the first month's rent and deposit. As landlord you will be responsible for the deposit and for all future property management issues.

• Rent Collection: The rent collection service includes all the services offered under the introduction only service, together with a rent collection service. Once rent is collected the letting agents' rent collection commission is deducted and balance is paid to the landlord. The landlord is expected to arrange to inspect the property and deal with any repairs under the terms of the agreement. The issue of notices to quit are normally dealt with by the letting agent but the landlord will need to make his or her own arrangements to deal with all aspects of the tenant moving out.

• Full Management: The fully managed service offered is the most comprehensive and deals with almost all the issues of property management required on a daily basis. Urgent repairs will be undertaken as needed by the letting agent and quotes will be obtained for other non-essential matters. The payment for any expenditure will be deducted from rents collected before any payments are made to the landlord. For landlords who working or living abroad this service is essential as all matters are left in the hands of the letting agent.

The full West End property management services include

• Calculate rental value.
• Market the property through both real world and internet advertising via our website- plus consult our list of tenants.
• Full inventory - condition of decorations etc.
• Arrange and accompany Tenant to view property.
• Obtain references from tenant - Employer References and Bank References.
• Notify Mortgage Lender that property is being rented - if required after the owner has obtained prior consent to the letting.
• Retain deposit from Tenant against dilapidation.
• Retain one month's rent in advance.
• Organise insurance policy for Landlord i.e content and building insurance.
• Take meter readings and transfer all services into Tenant's name plus Council Tax and Water Companies etc.
• Ensure Tenant signature is on property inventory.
• First day Tenant moves into property check that there are no problems.
• Inspection of property on day of rent collection.
• Send monthly statement to Landlord.
• Transfer monthly rent received to Landlord.
• If maintenance/repair is required will notify Landlord, cost will either be deducted from monthly rent/insurance policy claim or at Landlord's discretion.
• Will liaise between Landlord and Tenant when required.
• Will issue warning letters to Tenants if problems arise.
• If problem persist will submit a termination notice to Tenant.
• At end of tenancy, the property is professionally cleaned and the lawns are cut

West End Property