Credit Checking - How Safe is Your Property?
We conduct thorough credit checks on prospective tenants. We also check with previous landlords for information as to suitability, (All checks are via HomeLet) and reserve the right to decline any application. After all, your home is very precious, and we take our responsibilities very seriously . Our rental arrears are low, and rent guarantee can be arranged if required.
If your property is being managed by Payne & Co, we may offer a rental guarantee policy (via HomeLet) for 12 months, free of charge. Should you wish to continue with this service, you will be charged under our enhanced management fee . This guarantee is offered subject to satisfactory references and status of the tenant.The guarantee includes an excess period of one month.
Drafting of Leases and Useful Reminders
In addition to the preparation of all the legal documents (Leases & Notices), we also provide our landlords with a lot of practical advice to make the process as smooth as possible.
A damage deposit equivalent of up to 6 Weeks rent is usually taken and held in a Clients Account until the end of the tenancy. Upon vacating, we re-inspect the property, then refund within a maximum of 14 days (assuming there is no dispute).
Our client account is protected by the ARLA Rules of Conduct, and the deposits themeselves must be protected by a Tenancy Deposit Scheme. Payne and Co are members of The Dispute Service and we adhere to their rules to protect the deposits held
We inspect the property every 3 months of the tenancy. Our staff will carry out this inspection, and a written report is then sent to the landlord for them to act on any non-urgent issues..
We collect rent on a calendar monthly basis, usually in the first week of every month. As we always collect our rents at this time, payment will usually be made to landlords between the 8th and the 12th of every month. Therefore multiple landlords always receive their rent the same time every month. Rents are paid direct into the landlord’s account.
Repairs - Who Pays?
All repairs are organised by our office, and landlords are consulted regarding any amounts in excess of £300.00. We undertake to ensure all repairs are genuine, and carried out by competent professionals. Full details are provided on our information packs.
Members of the Association Of Residential Letting Agents (ARLA) .Our letting office is a member of ARLA, which is the only professional self regulating body to be solely concerned with lettings.
Why Should A Landlord Or Tenant Seek Out An ARLA Member?
Probity and Protection - ARLA leads the industry in setting and regulating the highest standards in the industry and demands certain levels of professionalism and commitment to customer service from its membership.
ARLA members are required to work within a robust Code of Practice, which covers the key stages in letting and managing a property. There are comprehensive membership Byelaws which include compliance with such issues as handling and accounting for Clients’ money; the mandatory ARLA Client Money Protection Bonding Scheme; Professional Indemnity Insurance; Dealing with Complaints and Disciplinary Procedures.
ARLA members are required to employ a minimum of at least one member of staff, in any office, who holds a suitable industry qualification, recognised by the Association.
ARLA keeps it members up to date with changes in legislation and provides wide-ranging training and guidance to help members understand and interpret all aspects of letting and managing a property.
You will find our charges to be more than competitive with discounted rates for managed properties, we also offer special incentive rates to landlords of multiple properties (three or more) please feel free to contact Graham Jones or Colin McComas on 0208 554 6233 to discuss our charging structure further.
Management Guide Terms & Conditions and costs
Payne & Co offer a free and informative management guide that can help all prospective landlords through the complicated and sometimes difficult process of understanding the rental procedure.
Assured Shorthold Tenancy Agreement (Sample)