Landlord Information
The key aspect which makes LD Property Management special and sets our company clearly ahead from the competition is that we devote 100% of our time to the rental market. We are dedicated letting agents – it is all we do and we remain resolutely “non-corporate”. We have always believed that personal, face-to-face contact with any client is a vital way to deliver an efficient, no-nonsense level of service in any business – especially when it comes to a business as intricate and potentially complex as property management.
You’ve decided to become a landlord. Perhaps you want to let a property you already own, or invest in residential properties. Or maybe it’s just an idea and you haven’t made your mind up yet. Here are a few points to consider first:
Since 1988, there has been a 50% increase in demand for rented property throughout the UK. The private rented property sector now represents 12% of UK housing stock and is forecast to grow to 15-20% in the coming years.
The 1988 Housing Act has dramatically improved landlords’ rights over their rented property. The Government is keen to continue to encourage growth in the private rented sector.
Demographic and economic changes such as rising property prices, shorter employment contracts and a need for greater mobility are all encouraging more people to rent rather than, or in addition to, buying a property of their own.
Buy-to-let mortgages are now available from a wide range of lenders at competitive rates of interest making the purchase of UK residential property a sound, long term financial investment.
Landlords find it reassuring and satisfying to be able to ‘see’ their investment and benefit from the rental income and capital gain that this provides.
Tenant Referencing and Assessment
It is LD Property Management’s standard policy and practice to thoroughly check and screen all potential tenants prior to any tenancy commencing. We use an independent referencing company to carry out detailed individual checks of all prospective tenants. These checks include checking their ID, credit history, employment and landlords’ references.
Tenancy Agreements
We make sure our Tenancy Agreements are clear and fully comply with the Housing Act 1988 as amended, or Contract Law if it is a company let and/or a let with a rental value of over £25,000 per annum. All of our Tenancy Agreements are easy to understand, and they fully protect your rights as a Landlord and are subject to regular review to take account of new legislation.
Inventory
Prior to the tenants moving into your property, we provide a detailed inventory to include details of all decor and contents of the property and the condition. This document is then used to check the condition of the property when your tenants vacate. Satisfied.
Rent Payments
Rent is paid monthly as per the terms of the tenancy agreement. We will pay this into your account, by a direct bank transfer after allowing time for clearing. Rental statements will be sent out to you every month. If for any reason there is a delay in rental payment and the rent will not be in your account on the usual day, we will inform you of this. Where a tenant fails to pay rent we will chase this by phone and letter and will keep you abreast of the situation. This normally rectifies the situation, however in extreme circumstances we will advise you if any legal action against the tenant is required.
Landlord Legislation
LD Property Management staff are kept up to date with legal developments so that we can ensure you and your property comply with all current legislation. Finding Your Tenants Your property will determine your tenants. From corporate lets, professionals to families relocating, we accommodate them all. Tenant Security Deposit With effect from 6th April 2007 all new Assured Shorthold Tenancies where a deposit is taken will have to comply with "Tenancy Deposit Protection” under the Housing Act 2004. This does not apply to Assured or Contractual Tenancies such as company lets. LD Property Management are members of both The Dispute Service Limited (TDS) and the Government Custodial scheme, both of which will be supported by an Alternative Dispute Resolution Service (ADR).
LD PROPERTY MANAGEMENT SERVICES
Full Property Management
The day-to-day management of a property can be a time-consuming affair. Our fully comprehensive service is there to free you of any worries or concerns in connection with the smooth letting and management of your property. Some of our contractors offer a 24-hour emergency call-out service, covering your property when problems arise out of office hours. These are reported immediately to the office upon reopening and, if necessary, a full report will be issued to you.
Tenant Find & Rent Collection
This service is designed for those landlords who do not require our full management service, but still require the services of a professional letting agent to source the tenant and collect the rent. LD Property Management does not carry out periodic inspections of the property, so it is important that arrangements are made for you to inspect accordingly.
Tenant Find Only Service
This service is designed for landlords who wish to have a hands on approach to property management but still require the services of a professional letting agent to source the tenant and prepare tenancy agreements.