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  • Renting out your property during a pandemic

Renting out your property during a pandemic

byTrevor Hames

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It's not a surprise that the coronavirus outbreak disrupts every industry across the globe - and the property market is certainly no exception. If you're a landlord looking to rent out a property, these can be uncertain times. Although staying at home guidelines are softening now, you may wonder how to proceed with your lettings, going forward.

Naturally, this has prompted us to re-think the way we do things. As a letting agency that is always responding to the ebb and flow of the market, we've adapted our entire service to manage the situation and work towards a positive approach for our staff making sure it's business as usual. As much as we want to keep things running smoothly, we also want to make sure the process of letting out your property safe and hassle-free, for you and your prospective tenant. Safety is our priority, and we think it's best to delay our office opening for customers, although our staff man the office. We hope to be able to soon open doors for you to meet with us personally. So, we've embraced virtual technology as part of our routine of valuing and letting property, whilst physical viewings can be done after the initial stage of shortlisting your favourite property.

With three simple steps, it's easier than you might think.

Pick up the phone (01223 322277)

It all starts with us getting acquainted. A face to face meeting may not be advisable yet. However, we're always at the other end of the phone. Whilst video calling or zoom meetings are also welcome, anything that suits you can work for us too!

Jeremy Liming (our Director), will happily explain the process and answer any questions you might have.

Virtual valuations work great

Firstly, we'll need to conduct a virtual property valuation to ensure we follow the social distancing measures whilst the lettings process.

The valuation can be done in real-time via video call on your phone, laptop, or tablet using Zoom – our preferred video calling service.

Or, you can simply take videos, covering both the inside and outside to give us a feel for the condition of your property.

Alongside the virtual tour, we'll also take the location, demand, and market knowledge into consideration to give the most up-to-date valuation.

Our virtual property valuations are flexible, easy, and quick – and they're made to work around your lifestyle – however busy it may be.

Showing off your property the virtual way

Following our virtual valuation, a designated team member can show your property to prospective tenants using Zoom video conferencing. With the softened government guidelines, property viewings are slowly moving to conventional physical ways, but with strict safety measures in place. In the light of our current situation, as responsible lettings agents of our community, we recommend physical viewings once the virtual viewing has taken place; as a final step to the lettings process.

It's that simple. So if you're thinking of letting your property out, let us.

At Cambridge property lettings, we believe in giving you a service that exceeds your expectations. If you would prefer to book a valuation rather than pick up the phone, you can easily do so through our website at https://www.cambridgepropertylettings.co.uk/valuation.

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Landlord Fees

All fees include VAT at 20%
 

Full Property Management

We offer a comprehensive service which allows landlords to enjoy the fruits of their valuable investment while we look after their property.

This includes:

  • Finding a suitable tenant and completing the necessary legal documents.
  • Property appraisal and marketing.
  • Rent negotiation.
  • Preparation of tenancy agreement.
  • Obtaining reference from previous UK-based landlord, where appropriate. 
  • Credit check of non-student tenants, and guarantors of student tenants. 
  • Right to Rent checks. 
  • Collection of tenant security deposit and registration with government-backed tenancy deposit scheme.
  • Day-to-day managing of the property (taking on the hassle!).
  • Obtaining and renewing Electrical Fittings and Appliances Certificates.
  • Obtaining and renewing Gas Safety Certificate.
  • Collecting the monthly rent due.
  • Dealing with day-to-day general repairs and maintenance on your behalf, subject to an agreed limit.
  • Arranging for emergency repairs.
  • Regular property inspections.
  • Pro-active maintenance, thereby protecting your asset.
  • Checkout inspection.
  • Handling return of deposit to tenants and any correspondence with TDS.
  • Preparation of Prescribed Information for registration of deposit.

Charges

Family Home:

12% of the monthly rental income.

Letting fee: £120.00 for each new tenancy.

Deposit Registration Fee: £36.00 for each new tenancy.

Preparation of detailed Unfurnished Inventory:

  • 1 bedroom property: £96.00
  • 2 bedroom property: £108.00
  • 3 bedroom property: £126.00
  • 4 bedroom property: £150.00
  • 5 bedroom property: £186.00

There is an additional cost for furnished property, subject to the extent of the furnishings. 

Processing Tenant Application: £80.00 per adult tenant. 

 

Shared/Student Home:

14.4% of the monthly rental income.

Letting fee: £120.00 for each new tenancy.

Deposit Registration Fee: £36.00 for each new tenancy.

Combined Fee for Processing Application and Checkout Report:

  • 1 bedroom property: £141.00 per tenant
  • 2 bedroom property: £119.00 per tenant
  • 3 bedroom property: £112.00 per tenant
  • 4 bedroom property: £110 per tenant
  • 5 bedroom property: £107 per tenant
  • 6 bedroom property: £105 per tenant.

Re-letting fee:

Tenancy renewal to existing tenant for the service of arranging a further fixed term, or reviewing and implementing any increase in the rent to an existing tenant: £60.00.

 
What does the management fee not cover?
  • If repairs etc. exceed £750.00, Cambridge Property Lettings applies an additional management charge of 18% of the net cost.
  • Cost of any work on the property and appliances.
  • Cost of obtaining the gas and electrical appliances certificates.
  • Any legal or professional fees incurred with your approval.

 


Non Managed (inc VAT)

This involves finding a suitable tenant and completing the necessary legal documents.

The service includes:

  • Property appraisal and marketing
  • Rent negotiation
  • Obtaining reference from previous UK-based landlord, where appropriate
  • Credit check of non-student tenants, and guarantors of student tenants
  • Right to Rent checks
  • Collection of first month's rent and deposit
  • Preparation of Prescribed Information for the deposit
  • Registration of deposit with government-approved scheme.

Fees:

  • A one-off fee of 60% of the first month's rent, subject to a £600.00 minimum charge to be deducted from the first month's rent.
  • Referencing fee: £25.00 per tenant aged over 18, to include guarantor if applicable. 

Cambridge Property Lettings is a part of the Propertymark Client Money Protection Scheme.

RedAdair Cambridge Property Lettings

Tenant Fees

Capture 22.05

 

NON HOUSING ACT AGREEMENT

Company Application, administration and referencing fee - £420.00 (inc. VAT) this is non returnable.

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