Our landlord information pack outlines the comprehensive and professional service provided by Monks Estate and Letting Agents. We currently manage on behalf of our clients a wide range of properties throughout Shropshire from our offices in the County Town of Shrewsbury and the popular Market Town of Wem.
We have a dedicated, professional team who have experience and comprehensive knowledge of the lettings procedure who will ensure the correct Tenants are found for your property. We will assist both Tenants and Landlords to ensure a quality service is received.
Monks are members of the three most influential organisations in the Lettings industry and you can be assured that our staff are up to date with current legislation and are fully qualified to deal with any matters which may arise. As a member of the Royal Institute of Chartered Surveyors we are bound by the Royal Institutes Code of Conduct which requires the holding of Professional Indemnity Insurance and the professional auditing of clients accounts.
If you are a first time Landlord or have owned properties for a number of years the ever increasing change of legislation may have you confused. We will keep you updated of all changes and ensure your properties comply with current legislation.
Rental Valuation Visit:
- Visit the property
- Provide advice on achievable rental value
- Comprehensive advice on Assured Shorthold Tenancy
- Advice on Landlord and Tenant obligations
- Marketing Strategy
- Service offered and fee structure
- Current Legislation
Marketing of the Property:
- Prepare property details
- Full colour photography
- Internet advertising including Rightmove, Monks and onthemarket.com
- Inclusion within local press advertising
- Marketing within our Shrewsbury and Wem offices
- Distinctive ‘to let’ board
- Accompanied viewing service
- Regular feedback
- Regular matching with our database of prospective tenants
Just wanted to thank you for your service, Monks have by far been the friendliest and most prompt agents we have dealt with.
All prospective Tenants over the age of 18 are required to complete an application form.
Comprehensive credit and identity checks are carried out along with employment, character and previous Landlord’s references being obtained.
Right to rent checks.
Recommendations are then made to the Landlord for approval and instructions.
100% Rent Guarantee Insurance available.
Once prospective Tenants have been accepted we shall then draw up an Assured Shorthold Tenancy, which was introduced by the Housing Act 1988 and subsequently amended by the Housing Act 1996.
Under the terms of this agreement the Landlord is entitled to a vacant property at the end of the term. It is not possible for either party to end the Tenancy prior to the end of the fixed term, except in certain circumstances such as non-payment of rent. After the fixed period, if the Landlord requires possession, notice of at least two months must be given. The Tenancy can also be brought to an end after the fixed period by the Tenant providing one months notice.
At the end of the fixed period if the Landlord does not give notice the Tenant may remain in the property. Thereafter the notice requirements for either party remain the same. If both parties are in agreement the Tenancy may be renewed for a further fixed period or continue on a roll over tenancy indefinitely – referred to as a Periodic Tenancy.
The Landlord remains responsible for the Buildings Insurance in respect of the property and is responsible for checking against any restrictions for letting if the property is subject to a mortgage or finance. We would also recommend that the Landlord insures contents such as carpets, curtains and appliances. It is the Tenants responsibility to ensure their contents.
Once the Tenancy Agreement has been signed the Tenant is responsible for the payment of all Utility Bills in respect of the property including Council Tax. Monks will contact the relevant Utility Companies to inform them of the change of occupant so that all Utility bills can be transferred into the Tenant’s name with effect from the date of the Tenancy Agreement. At this time all meter readings will be passed onto the relevant companies.
I picked Monks to work on my first property investment because, amongst all the estate agents I interviewed, they stood out as extremely professional, obviously experienced and honest. Over years of supporting me in buying, renovating and renting out property Monks have proved themselves the best kind of property partner – fun to deal with, competitive, there when I need them, full of good advice and not afraid to make a stand for what is right. – Mrs B
A full inventory and schedule of condition of the property will be prepared by a Professional Inventory Clerk prior to occupation of the incoming Tenants. This will be signed by the Tenants at their Check-in appointment which confirms their acceptance. Photographic evidence will be taken of the interior of the property along with the condition of the garden and this will be included within the Inventory.
A very professional agent that looks after and manages my property efficiently. - Mr L
At the check-in appointment the Tenant is required, prior to occupation to:
- Sign the Tenancy Agreement.
- Sign the Inventory and Schedule of Condition and sign to confirm they have read and understood the Tenants Information Pack.
- Pay one month’s rent in advance.
- Pay a deposit of at least one and a half month’s rent (this can be negotiable to suit Landlord’s requirements) – which is then secured with the Deposit Protection Scheme.
- The monies due are taken in clear funds or bankers draft.
On receipt of the above the keys are handed over and the Tenant may make arrangements for occupation of the property.
Monks offer two services to suit Landlords individual needs and specifications – a full management service and a let only service. However, we are happy to discuss specific details to enable us to adapt our services to meet your requirements.
Thank you for your recent visit to our house, valuable advice and market appraisal. I was particularly impressed with your professional approach both regarding selling and letting.
This let only service is appropriate where the Landlord wishes to deal direct with the property and Tenant once in occupation.
- Market the property as outlined on Marketing of the Property
- Assess prospective Tenants
- Carry out credit and identity checks
- Take up references
- Provide overview and recommendation following referencing to the Landlord for approval and instruction
- Prepare the Tenancy Agreement
- Prepare the Inventory and Schedule of Condition
- Prepare a Standing Order in favour of the Landlord for monthly rental payments
- Register the deposit within the Deposit Protection Service in line with government legislation
- Notify the relevant Utility Companies
- Check-in appointment with Tenant
- Pass on Landlord’s contact details to the Tenant
- Carry out pre-tenancy inspection
Once the Tenant is in occupation, the Landlord will deal with any queries, requests, rent arrears, maintenance and repairs. Monks will keep both Landlord and Tenant contact details on file in the event of an emergency.
Monks have friendly staff that look after all aspects of my portfolio. - Mr L
This full management service includes all of that within the let only services.
As part of our Management package we are able to offer a 100% Rent Guarantee Policy. This will give Landlords full peace of mind that should a Tenant default on their rent no loss will be incurred by the Landlord. The policy will commence from month one of the rent not being paid and will include all costs incurred in bringing the Tenancy to an end should this be necessary. Please ask for further details.
Once the Tenant is in occupation we will:
- Collect the monthly rent, generally via Standing Order, deduct our agreed monthly management fee plus VAT at the prevailing rate and transfer the balance to the Landlords bank account. No interest is paid on client account monies.
- Provide a monthly statement detailing the above.
- Register the deposit within the Deposit Protection Service, in line with government legislation.
- Carry out an initial inspection within the first three months of occupation and thereafter every six months. An inspection report will be sent to you following these visits detailing any concerns or maintenance issues which may arise.
- Arrange Landlord’s Annual Gas Safety Certificate.
- Liaise with Utility Companies throughout the Tenancy.
- Conduct annual rent reviews if appropriate.
- Deal with any maintenance issues which arise at inspections or by notification as and when they occur.
- Arrange for quotations to be obtained for necessary issues and the works overseen if required.
- Where possible these costs will be deducted from rents received, if this is not possible due to the nature of the works required, invoices will be directed to the Landlord for settlement.
- In emergencies, such as a gas leak or burst water pipe, prior authority may not always be obtainable or indeed quotations acquired.
- Monks has access to reputable and reliable local tradesmen who we are happy to recommend or Landlords may wish to nominate their preferred contractors.
- Check-out the Tenant at the end of the Tenancy.
- Arrange quotations for any works required following surrender of the Tenancy.
- Liaise with Tenant with regard to any deductions due from the Deposit.
- Liaise with the Deposit Protection Service should there be a deposit dispute.
If the Landlord wishes to terminate the Tenancy at the expiry date then the appropriate notices will be served by Monks on behalf of the Landlord.
If the Tenant serves notice to terminate the Tenancy, the appropriate arrangements will be made and instructions sought from the Landlord with regard to remarketing the property.
Monks make buy to let property easy to manage and find quality tenants efficiently. – Mr.L
Monks will endeavour to obtain any rent arrears should they arise and if it becomes necessary serve Notice to Quit, advise and assist with court proceedings. Any fees incurred will remain the responsibility of the Landlord.Contact Judy for your valuation, market appraisal and lettings advice firstname.lastname@example.org
Once either party has served notice arrangements will be made to carry out a check-out inspection using the original Inventory and Schedule of Condition.
Any repairs, replacements or cleaning required will be noted and where appropriate costs incurred with be negotiated by Monks with the Tenant and if in the case of any dispute liaison with the Deposit Protection Service.
Once Monks and the Landlord are satisfied that all is in order the balance of the deposit will be released to the Tenant.Once the deposit has been released, no further action can be taken.
Meter readings will be taken and Utility Companies advised.
Forwarding address for the outgoing Tenant will be recorded in the event of any further communication being necessary.
In the event that agreement relating to deductions cannot be reached through Monks in the usual way between the Landlord and Tenant at the end of the Tenancy, then The Deposit Protection Service will provide resolution and a final decision. Monks will provide the relevant documentary evidence to support the Landlord’s position including Check-In Report, Inventory and Schedule of Condition, Check-Out Report and digital photographic evidence taken at both the start and end of the Tenancy.
The Management Contract with Monks can be terminated by either party upon giving one month’s written notice of intention.
However, in the event that a Landlord decides to terminate the Management contract with Monks within the first 12 months, a lump sum termination fee will be charged, which will be equivalent to a total of one month’s rent, net of any fees already paid.
In the event that the agreement is terminated by the Landlord prior to occupation but where costs have been incurred such as preparation of the Tenancy Agreement or Inventory and Schedule of Condition, a fee may be charged based on costs incurred.