Management

As with Newton’s Cradle property management is about ‘Cause and effect’, a swing on the pendulum from one side leads to the cannoning of the ball bearing on the opposing side. Like all relationships it’s important to keep the balance and that’s where Stanford Estates’s Philosophy of Property Management comes from.

Letting a property can be a difficult decision to make. We often speak to prospective property owners who are apprehensive about becoming professional Landlords. There are many unfortunate stories of bad tenants, unpaid rent, drug dens and poor management and it can take a lot to persuade someone that these may be the case for some agents but not here at Stanford Estates.

Our understanding of the Laws, regulations and even the emotions involved could be the solution to these issues, with Stanford’s acting as your Managing Agent.

Every day we do our best to honour the charter between ourselves and our property owners for the faith that they put into us to ensure that their property is in good hands. This starts with selecting the right tenants in the first place (see: choosing the right tenants) and ensuring that everything that was agreed is in place and that most importantly that the property is clean. To start a tenancy on the right note sets up a good relationship between Stanford’s and the tenants who we want to look after your property.

Equally, it’s important that repairs are made smoothly and efficiently and not ignored. As much as there should be a Charter with the Landlord, equally if a tenant is dealt with respectfully then in return they will look after the property and pay their rent in full and on time.

There are always difficult cases (and individuals) and we see to it that we are the buffer to ensure that relationships are kept professional and try in all cases to maintain a mutual level of respect. You are busy people and we are employed to get on and do the job on your behalf.

All agents will tell you that they do ‘Periodic’ Inspections at the property they manage. If you are paying for this service, make sure that you are receiving your reports and check on the meaning of periodic (that could mean annually). At Robert Stanford we do our checks every 3-4 months, the whole office gets involved and we all help the management team to get around all the properties we manage. It’s a great leveller for us, but more importantly we are fulfilling our duty to you the Landlord – and you’ll get a copy of the report with notes and advice to prove it!

At Stanford Estates we provide a Free Lettings Valuation and Management Consultation service to our clients, and you can arrange one now by calling the Forest Hill office on 020 8699 6778 or the Hither Green office on 020 3021 1700.

Our Lettings Guide can help new Landlords to understand the responsibilities that they are taking on if you decide to self-manage, find out more about Stanford Estates ‘Let Only’ service.

Services

In addition to the lettings service outlined in the ‘Let Only’ section, we can also provide full management which includes

  1. The demand and collection of rent.
  2. Payment by either cheque or bank transfer direct to your UK bank/building society account.
  3. Carrying out periodic inspections and providing a report.
  4. Arranging day to day maintenance and repairs notified to us.
  5. The preparation and submission of monthly statements to the Landlord
  6. To protect the deposit with “The Tenancy Deposit Scheme” (TDS) held within our client account.
  7. Arranging renovation/redecoration – subject to the remarks on page number 8.

Repairs & Replacements

We shall deal with day to day management matters, without referring to you, including minor repairs up to a maximum of £200.00 per item. Except in an emergency wherever practical, estimates are obtained and submitted to you for approval in respect of works or repairs likely to cost in excess of £200.00. You can then instruct us whether or not to proceed.

Inspection & Defects

Our management will include investigation of defects which come to our notice or are clearly and adequately bought to our attention by the Tenant. We shall periodically inspect the property on your behalf. It should be appreciated that any such inspection can extend only to apparent and obvious defects and would not amount in any way to a structural survey of the property. We cannot accept any responsibility for hidden or latent defects.

Terms of management appointment

Except in cases where you intend to re-occupy the accommodation and where special arrangement are made, our appointment is for the term of the tenancy and hereafter subject to three months written notice to terminate on either side, to coincide with the rent due date.

Void periods

Our management function does not include the supervision of the property when it is not let, although, in the normal course of letting, periodic visits may be made to the accommodation by our lettings staff. If you wish your property managed during a “void” period there is an additional charge of £75.00, plus VAT, per month.

Fees

  1. Subject to our minimum charge of £450.00, plus VAT. Our management fee is charged at the rate of an initial payment of four weeks, plus VAT, deducted from the proceeds of the first month’s rent and thereafter 10%, plus VAT, of all subsequent monthly rental payments.
  2. With regard to extended tenancies, whether or not negotiated through us, an administration fee is payable at the rate of £200.00, plus VAT, in addition to your usual monthly charge.
  3. Current banking arrangements are such that it is necessary for us to allow approximately ten working days for rent cheques to be cleared before paying monies into client’s accounts. Clients are accounted to on either the 1st, 5th, 10th or 20th (or next working day) each and every month.
  4. If fees shall be in arrears for fourteen days after it becomes due, interest will be payable thereon at a rate of 4% above Base rate of NatWest Bank plc.

General Remarks - Instructions to solicitors

You will be informed of any rent arrears of breach of covenant bought to our attention. However, if it is necessary for a solicitor to take action, you will be responsible for instructing your own Lawyer and for all fees involved.

Latest Properties