Rent Collection Service
Finding a tenant can be time-consuming and costly when your rental property becomes vacant.
Are you struggling to find tenants for your rental property?
Are you confident your candidates will respect your property and adhere to the tenancy agreement?
Do you want an agent to be responsible for collecting the rent on your behalf?
With our rent collection service, the whole process can be pain free, your vacancy will be quickly filled and we will manage the ongoing rent collection during the course of the tenancy.
The service includes:
Property valuation and marketing
Tenant referencing, identification and credit checking
Ongoing rent collection.
Valuation and marketing – the first important step is to provide a realistic view of the value of your rental property and to advise you about competitive pricing. We will then market your property on our own website and on Rightmove.
Inventory - making sure that there is a full and accurate inventory and schedule of condition is essential to avoid disputes. Your new tenant will receive a copy when they move in and will be asked to confirm that this is how they will return the property when they leave. If there are any discrepancies, we will photograph or video them and discuss these with you so that everything gets off to a good start.
Checks - you will want to know that your new tenant is reliable and able to pay their rent. We confirm their identity and carry out credit and reference checks before giving you a suitability report.
Agreement - an assured shorthold tenancy agreement is the most common type used by landlords to let residential properties to private tenants. We will prepare your agreement and provide you and your new tenant with a copy.
Deposits - the law requires your tenant’s deposit to be registered within 30 days of receipt, so we will arrange this for you.
Checking in and out - making sure the whole process of moving in and out goes smoothly is part of the service. If you are happy to have longer-term tenancies, we can also renew tenancies for those who would like to remain in your property.
Utilities – meter readings will be taken before your new tenants move in and we will notify the service providers of the readings and change of tenants.
Energy efficiency - your property must have a valid Energy Performance Certificate (EPC). We can arrange a visit by an accredited domestic energy assessor to carry out an energy performance check and to provide an EPC, which will be valid for 10 years.
Property inspections - it’s important to make sure that your tenants are looking after your property. Quarterly inspections give you peace of mind that everything is being well maintained and is in good working order.
Rent - monthly rent can be collected on your behalf and, if payment isn’t received within three working days of the due date, we will send text and email reminders. If the payment remains overdue, we will send a reminder letter after seven working days. In the unlikely event that payment remains overdue for 14 days, Letting Genie will arrange to visit the property to resolve the matter. If rental payment is overdue by a calendar month, Letting Genie will instigate legal proceedings, as long as you agree.
Safety - if your property uses gas, a valid gas safety certificate must be provided to your new tenants. A visit by an approved gas engineer can be arranged to check your gas appliances and issue the certificate.
An electrical safety test will also be required for new tenancies from July 2020 and for existing tenancies from April 2021. We can arrange an inspection by a qualified electrician who will provide the electrical safety certificate.
We will issue copies of the certificates to your new tenants before they move in.
Maintenance - if needed, we can arrange quotations from reputable contractors for any necessary repairs to make sure your property remains in good condition throughout the tenancy.
Tax returns - we will provide you with certificates of rent and expenditure for your annual Self Assessment tax return.
Documentation - disputes sometimes arise concerning amounts payable from the tenant’s deposit when they leave your property. If the involvement of the Dispute Service is needed, we will prepare the required documentation.
If any court proceedings arise in relation to your tenancy, Letting Genie will also prepare the necessary documentation and attend the hearings.
If you are interested in our full rental management service or would like to create a bespoke package.