Q. Can I move my property management arrangement from one company to another?
A. Yes you can and it's very easy to do because rental property management is an add-on service so you can invoke the notice period whenever you want.
Q. Isn't property management tied up with the company that found my tenant?
A. No, not at all. Tenancy agreements are between a landlord and tenant and letting agent acts as the link between the two. While the letting agent that found your tenant might be entitled to some commission, property management is completely separate.
Q. Do I have to deal with a lot of paperwork when changing property management agent?
A. You do not have to worry about the paperwork. All you provide us with is the letter to your existing property management company indicating you want to terminate the contract and our signed terms and conditions.We collect all other documents from your previous management company, including inventories and gas safety certificates.
Q. Can you guarantee you will find me long-term tenants?
A. Unfortunately, this is not something we can guarantee. However, we will strive to seek out tenants who would like this arrangement and encourage them to sign medium to long-term contracts.
Q. How often is my property inspected?
A. Mid-term inspections are carried out every six months, although if we find a tenant is not looking after your property as they should, checks will be more regular.
Q. What is a break clause?
A. This can be added into a tenancy agreement and allows you as the landlord or your tenant to exit the contract before it officially ends. For example, this could include giving two months' notice after the first six months.
Q. What is your tenant referencing process?
A. We hire a third-party company to thoroughly check all prospective tenants. Details ranging from their credit history, to employment records and character statements are obtained.
Q. What levels of access to the property do I have as a landlord?
A. As the landlord you can give a tenant notice as outlined in the contract before accessing your property. However, we advise you not to visit too often as your tenants will want to enjoy living in your property with as little disturbance as possible.
Q. How do I pay your property management fees?
A. Unlike most agents, our fee is collected on a monthly basis to help support your cash flow. See Landlord fees.
Q. Where will you advertise my properties?
A. Your property will feature on the UK’s number 1 property portals Rightmove and Zoopla.
Q. Do you have any hidden or additional charges?
A. There are no hidden charges. All our extra charges are listed in our terms and conditions and include gas and electrical certificates, deposit registration, tenancy agreement preparation. See Landlord fees.
Q. Can my tenant exit the contract before the break clause?
A. Once a tenant has signed a contract they must fulfil their obligation. However, should your tenant be in a particularly difficult situation, we would advise you to allow us to find you a suitable tenant to replace them. The outgoing tenant would have to reimburse you for any expenses experienced because of this.
Q. How long am I expected to stay with Vanet Property Asset Management?
A. Of course, we would like you to stay with us for the long term. However, should you decide to leave us, you can give us one month's notice after three months. Our finder's fee needs to be paid to us if the tenant we found remains in your property.
Q. Do I get to keep the damage deposit during a contract?
A. If you have entered into a tenancy deposit scheme then you can keep it. If you have not then by law we keep the money and register it with one of the government-recognised deposit organisations.
Q. What if the damage deposit is not registered?
A. We would advise you to register the deposit as soon as possible. If this is not done within 14 days from when your tenant gave you the money then they are entitled to three times the original amount. They also need to be provided with the registration documents within this period.By not registering the deposit you also lose the right to serve a Section 21 notice to a tenant if you want them to leave your property.
Q. What is a Section 21 notice?
A. This falls under the Housing Act 1988 and gives the landlord the right to regain possession of a property at the end of an AST. This can be issued without a reason being given.
Q. What happens if I want to increase the rent?
A. We always review the rent during contract renewals to check it is in line with market conditions. We will negotiate a rent increase and let you know how the process is going.
Q. What if my tenant doesn't pay their rent?
A. If you do not have a rental guarantee insurance policy then we will advise you to agree to a Section 8 notice. This can be put in place after the tenant has missed two months of rent which gives them two weeks to vacate the property. In a circumstance where a tenant refuses to move, you will have to apply to the courts for an order to evict them. All fully managed landlords will receive our support every step of the way.
Q. What is a Section 8 notice?
A. Also under the remit of the Housing Act 1988, this is served by a landlord to regain possession of their property from a tenant during the fixed term of an AST. As such, it can only be issued if the tenant has breached their tenancy agreement (such as not paying rent).
Q. Do I need to take out any insurance?
A. Yes, we strongly advise you to take out contents insurance, building insurance and rental guarantee insurance. Should an incident occur and you are not covered, it could cost you dearly.
Q. Who is responsible for paying utility bills?
A. During the tenancy, tenants are liable to pay all utility bills unless the tenancy agreement states otherwise. During void periods, you as the landlord are responsible. We oversee the switching of names on bills so you don't have to worry.
Q. What is an assured shorthold tenancy?
A. Also known as an AST, this is the default tenancy agreement introduced by the Housing Act 1988 for properties in England and Wales. The tenant and landlord must agree on rent and the minimum term of the contract. Under an AST, the landlord has the right to guaranteed possession after the initial six months.
Q. What is right to rent?
A. For all tenancies starting on or after 1 February 2016 landlords are required to check that a tenant can legally rent your residential property. Part of this law requires you to see the original documents that allow the tenant to live in the UK and to check that the documents are genuine and belong to the tenant, with the tenant present.
More information for landlords can be found here.