Why choose Mi Home Estate Agents to Rent your home?
We understand that letting your property, especially for the first time, can be a worrying experience and with this in mind our most important consideration is providing you the Landlord with the best possible service and the right tenant for your property. We never forget that the property is your most important asset and we can confidently assure you that by instructing us to act as your Letting and Management Agents your asset will be in professional and caring hands.
Levels of Service offered
A Tailored Service
Outlined below are the two basic elements of our Service. However, we maintain a flexible attitude, and are generally able to adapt our Service to meet our client's individual circumstances and needs, for example by providing a part only Service, or occasionally by taking on additional tasks and duties.
£480 inc VAT (no let no fee)
- Our Letting Only Services includes providing a rental valuation, marketing of the property in our office, on our website and on Rightmove and carrying out viewings
- Introduction and vetting of a prospective Tenant. This proving satisfactory, we will then go ahead and prepare the tenancy agreement, and if required an inventory.
- Following this, the first month's rent will be collected and the deposit will be transferred to the Landlord for them to deposit in a government approved scheme. Managing the tenancy, including the maintenance and rent and transferring deposit into the relevant scheme will then be the responsibility of the Landlord.
Full Management with FREE Rent Protection and Legal Cover
£354 tenant find fee and then 6% for the first six months and then 12% of the rent achieved (no let no fee) - All fees include VAT
- Reviewing the property and providing the landlord with recommendations for maximising the return on their asset, providing the landlord with general advice on the condition of their property and recommend any works or repairs required before renting. If the landlord agrees with the recommendation, we can arrange for this work to be done.
- Arrange for the Energy Performance certificate, gas safety checks and an electrical inspection to be carried out at the property.
- Market the property in our office, on our website and on Rightmove and carry out viewings, leading to the introduction and vetting of a prospective Tenant, including Right to Rent checks.
- This proving satisfactory, we will then go ahead and prepare the tenancy agreement and carry out a complete inventory, including photographs.
- The Tenant will then be checked in against the inventory and the opening utilities (gas/electric/water, if meter present) readings will be taken.
- We will then contact all the utilities and set up the relevant accounts with your new tenants.
- During the check in the first month’s rent and the deposit will be collected. The deposit will be lodged with the Deposit Protection Scheme, this being the only Government-authorised custodial scheme.
- Collecting and processing of rental payments is also part of the Service. These will be credited automatically to the Landlord's nominated bank account
- During the tenancy we carry out periodic inspection visits. Should these bring to light any maintenance issues, we will (within the confines of our Management Agreement) recommend, oversee and account for any necessary repairs.
- Deal with repairs and day to day maintenance issues. All repairs will be authorised by the Landlord unless it is an emergency repair.
- Towards the end of the tenancy, we will liaise with the Tenant, and renew the tenancy agreement or arrange to check them out as applicable.
This Service is recommended for all Landlords, in particular non-professional Landlords as all aspects of the letting and management will be handled by ourselves.
For further information and details of our charges please call the office on 01772 686100
How Rent Protection with Legal Cover works
Rent Protection with Legal cover is a fantastic cover which provides Landlords with peace of mind, as even the best tenants can fall on hard times and whilst you may be sympathetic you probably can't afford to lose your rental income. Providing the tenant is still living in the property, if they do not pay their rent whether through being made redundant or any other circumstances, the cover covers the rent arrears. Meanwhile Rentshield will start legal action to evict the tenant, meaning the Landlord receives the rental income until the property becomes vacant. Even then, once the tenant has been evicted and the property is re-advertised the Landlord will receive 50% of the monthly rent for a maximum of three months or until we have re-let the property, whichever is soonest.
Energy Performance Certificate
Landlords must by law provide an Energy Performance Certificate (EPC) to tenants when letting a property. The government are performing stringent checks on EPC's and failure to comply with this legislation may lead to a fine of £5000. This certificate must be in place before the property is put up for advertising and a copy is given to the tenant on move in day. The EPC provides an energy efficiency rating for a property on a scale of 'A' to 'G' with 'A' being the most efficient and 'G' being the least. An EPC must be completed and issued by a qualified and accredited Domestic Energy Assessor. In the rented sector an EPC is valid for 10 years and can be reused as many times as required during that period. There is currently no requirement for landlords to make any improvements if their property has a poor rating.
We can arrange this for you. Please call the office for more details.
Gas Safety Installation and Use
This covers any gas appliances, pipes fittings within the property. A Landlords Gas Certificate MUST be provided before the tenants move in to a property and a copy given to the tenant by law. The gas safety certificate is then due annually from that date. A record of these certificates must be kept and they must be carried out by a qualified gas safe engineer. This is of the highest importance and we reserve the right on this regulation to arrange for gas inspections to be arranged at the landlord’s expense, should the appropriate certificate not be available to us. Landlords should note the maximum penalty for non compliance with these regulations is a fine of at least £5000 or even 6 months imprisonment.
We can arrange this for you. Please call the office for more details.
Smoke alarms and Carbon monoxide alarms
From October 2015 new legislation insists that all Landlords must now install a working smoke alarm on every floor of the property and test them at the start of each tenancy. Carbon Monoxide Alarms must be installed in the room where any solid fuel appliance is installed. Landlords who fail to install smoke alarms & carbon monoxide alarms would face sanctions and up to a £5,000 civil penalty. Landlords should ensure that working chimneys are swept regularly; common place is every 12 months.
It is a Landlords legal duty to ensure that all electrical appliances & fixed wiring in a property is safe. There are currently no legal requirements for landlords to have a formal annual safety check of electrical equipment. However this is open to interpretation, as far as trading standards are concerned a landlord must be able to demonstrate that electrical appliances are safe before the property is let. Should any piece of electrical equipment have a fault, which results in injury or fatality, the person responsible for supplying the equipment (landlord) could be open to prosecution. Therefore we strongly recommend that you have all the electrical appliances & circuits certified safe, by a suitably qualified electrician and a certificate issued.
We can organise this for you, please ask for a quote.
Consent to Let
If the landlord has a mortgage, it is normal for mortgagees to require notification of any proposed letting of the property. The Landlord should receive their consent prior to proceeding. The Landlord should also advise his insurance company (buildings & contents) of the proposal to let the property so as to be covered by the correct policy.
UK Resident landlords If you are a resident landlord in the UK, your net taxable profit from your rental business represents income received without tax deduction at source. This will need to be added to your other taxable income in order to work out your overall tax liability for a particular tax year. The normal method of reporting your taxable income to the inland revenue and calculating your tax liability is via a self assessment tax return.
Non Resident UK landlords The Non Resident landlords (NRL) scheme is for taxing the UK rental income of person whose usual place of abode is outside the UK. Unless the landlord can provide us with an exemption certificate from the Inland Revenue, we are obliged by law to deduct basic rate tax (currently 23%) from rents received and account to the Inland Revenue on a quarterly basis.
We can supply you with details on Landlord Building and Contents insurance which can include accidental and malicious damage caused by a Tenant.
We are not a member of a CMP Scheme