Includes:
Includes:
Additional charges will apply for the following services, if required:
* Any costs incurred as a result of formal/legal action taken on your behalf (e.g. Tenancy Bond disputes) are not included in either of the above services and will be charged accordingly
We also offer the following services by request:
Please contact us to discuss your individual requirements.
If you are looking to invest in a property to let, we can provide you with free and confidential advice on the type of property and methods of financing your project. We also have independent financial advisors who will give mortgage advice.
With our specialist knowledge & experience we will assess the rental valuation of your property in the current market.
Details of your property will be displayed in our offices and may also be advertised in local newspapers/property magazines. Our computerized system enables our negotiators to respond to enquirers immediately by matching tenants to suitable properties. The property will also be advertised on our company website, which is updated daily. On a regular basis, we produce an up-to-date property list detailing every property on our books. This is sent out to prospective tenants and to those who are already in rented accommodation, but are looking to move. We also send details of available property to top relocation companies and blue chip organizations across the UK.
Prospective tenants are always accompanied by an experienced negotiator when viewing a property. If the property is occupied, all visits are strictly by appointment only.
Tenants will be subject to a careful vetting procedure whereby financial and employment references will be obtained and the relevant checks made. In certain circumstances, a guarantor may be required and checks made against them.
Once a tenant has been identified, appropriate legal documentation will be drawn up.
Bond deposits will be collected and either registered with The Dispute Service, or if the property is not managed by Cardiff Estates & Lettings then the money will be transferred to your chosen scheme or to you on proof of deposit registration & you will be responsible for managing the deposit in accordance with the terms and conditions of that scheme.
Rent is received monthly and transferred to you once the tenant’s payment is cleared, less our fees by the 15th of each month. You will be paid monthly in advance by BACS transfer directly into a designated bank or building society account. Unless otherwise agreed, the rent quoted to your tenants will include all outgoings for which you are responsible, such as water rates, ground rent, service charges, maintenance, insurance etc. We would then pass on to you the monthly rental less disbursements.
In the event of the tenant falling into rental arrears or breaching the covenant, it is our policy to try and resolve these issues with a telephone call or letter. Any more serious action required would be discussed with you first. Although we are not liable for unpaid rent, our computerized accounts system allows us to act quickly and effectively by notifying us when a problem has arisen.
A comprehensive inventory, together with a schedule of conditions will be prepared before the tenancy commencement date. As Landlord, you are responsible for ensuring that the property is clean and in good order before the tenants move in. If required, we can arrange for any cleaning or maintenance to be carried out at a competitive price.
Once a date of occupation has been agreed, we arrange for all utility accounts (e.g. gas, electricity and water) to be transferred into the name of the tenants with actual meter readings taken. If the property is vacant the accounts will be transferred back into your name.
We will notify the council when a new tenant moves in. It is the tenant’s responsibility to pay council tax during the period of their lease, but it becomes the Landlord’s responsibility when the property is vacant.
Our call out service ensures that your tenant and your property are covered in the event of an emergency. Should an emergency arise, we would normally act without your prior approval but would advise you of the situation as soon as possible afterwards. In a non-emergency situation, we will advise you of any large expenditure prior to any work being undertaken. We have a number of qualified and reliable tradesmen on hand to ensure that the upkeep of your property is maintained.
Whilst occupied, your property will be inspected on a regular basis. At the end of each tenancy, a final inspection will be carried out during which the condition of the property will be assessed against the pre-tenancy inventory and schedule of conditions. At this stage we will notify you of any damage or loss that has occurred and any electrical items that need replacing prior to the next tenancy period.
Although our management service does not include supervision during any periods when your property is not let, visits may be made by our staff from time to time, particularly when conducting viewings with prospective tenants.
Tenants will be expected to maintain gardens, provided the necessary tools and equipment are available. If the property falls vacant, we can provide you with a quote for our gardening service.
We will carry out rent reviews, as necessary at the end of a tenancy. Unless either party specifies otherwise, we will arrange for an automatic renewal of the tenancy agreement once the initial letting period has come to an end. There will be an administrative charge for renewal of tenancy.
At the end of a tenancy we will undertake a thorough moving out procedure against the inventory & act on the findings. We will liaise between you and the tenant regarding any disputes that may arise. If there is an unresolved dispute over the allocation of the Deposit, we will provide necessary documentation & a detailed report to the Independent Case Examiner of The Tenancy Deposit Scheme for adjudication.
1. If you are a lease holder seeking to let a property, you must make sure that:
2. If you are the owner of the property and you have a mortgage, it is your responsibility to check with the mortgage provider whether you need permission to sub-let. We cannot be held responsible for any claim brought against you by the tenant if you have not obtained the appropriate permission from your mortgage provider, or if your mortgage is in arrears and you are faced with repossession.
If you are the person instructing us to let your property you will be required to provide us with proof of ownership (e.g. mortgage statement), proof of your registered address(e.g. utility bill) and proof of identity (e.g. Passport).
Many standard household polices do not cover lettings, so you should make sure that your property and contents are fully covered and adequately insured. Cardiff Estates & Lettings cannot be held liable for any difficulties arising as a result of a failure to do this, but through independent brokers we can advise you on property and contents insurance to suit your needs.
In order to market a HMO, we will require a copy of your license, or proof from the council that you are in the process of applying for one.
There is a legal requirement to have a valid Energy Performance Certificate for any rental accommodation before it can be marketed to let. We will request a copy of this document, or can arrange for one to be carried out on request at an additional cost.
All electrical and gas appliances must be checked and serviced in accordance with safety regulations and provided for the tenant in a respectable condition. If the property is vacant, the fridge and freezer should be defrosted and left with the door open. If you are leaving televisions, videos or stereo equipment in the property, it is your responsibility as a landlord to undertake any repairs, which may become necessary. You must ensure that there is an aerial even if you are not providing the tenant with a television. Once an existing television license expires, it is the tenant’s responsibility to take over the payment of the license.
All detectors in the property must be tested before a tenant moves into the property to ensure that they are working.
The furniture provided in your property must comply with the Furniture and Furnishings (Fire) (Safety) Regulations 1988 (as amended 1989/1993). Before we can complete a contract for the letting of your property, you will be required to indemnify us against any action or consequence that may arise from these regulations being breached.
A list of “useful information” should be provided, preferably in a file left on the kitchen worktop or drawer. This should incorporate domestic appliance instructions and manuals, warranties, service contracts, main stop-cock, meter locations and any other useful information regarding the property e.g. dustbin collections etc.
If the property has a gas supply, we will require a copy of a current gas safety certificate before any tenant moves into your property. We will also require a copy of your current electrical safety certificate. We can provide you with a costing for electrical & gas safety checks to be carried out on request.
You will need to provide a set of keys & fobs for each occupant and one set to us if we are managing the property. If the required keys or fobs are not available there will be a charge for additional keys to be cut or fobs ordered.
You should contact the post office to arrange re-direction of your mail to your home address. Cardiff Lettings cannot take responsibility for ensuring that you receive your mail if it is sent to the tenancy address.
If you are the landlord of a property in the UK but you live abroad, we will be responsible as your agents, to pay to the Inland Revenue any tax liability on rent collected by us on your behalf. The basic rate of income tax will be deducted from the gross amount; however this can be avoided by applying for a tax exemption Certificate. If the property is jointly owned, a certificate is required for each individual. The relevant forms can be obtained from the Inland Revenue.
In cases where existing tenants wish to purchase the managed property and where a sale arises, our fee as selling agents will be 1.5% +vat=1.8% of the purchase price.
The landlord warrants that all the information he has provided to the Agent is correct to the best of his knowledge and belief. In the event that the Landlord provides incorrect information to the Agent, which causes the Agent to suffer loss, or causes legal proceedings to be taken, the Landlord agrees to reimburse and compensate the Agent for all losses suffered.
Rent smart wales has been introduced by the Welsh Government, operated and enforced by Cardiff City Council, to facilitate the registration and licensing of landlords and agents to ensure that they comply with the Housing (Wales) Act 2014.
If you are to use a managing agent and do not involve yourself in the setting up of tenancies or day-to-day property management, you will only need to register. We are not allowed to do this registration for you.
You must do this for each property that you let out. This is a simple process and costs in the region of £35 (Subject to change) which lasts 5 years.
If you find tenants yourself, or use an agent for a tenant-find service and you are involved in any way with the management of the property/tenancy, even if it is to arrange your own maintenance, you will need to register and be licensed.
This means that if you haven’t already been on the Landlord Accreditation Wales training course, you will need to do landlord training before being granted a licence.
Excluding the cost to undertake the training, the landlord licencing fee is around £150 (Subject to Change) if done online, Licences last for 5 years.
There is also a requirement to submit any change in details within a certain time period.
Please visit the Rent Smart Wales website for full details regarding compliance with this and other particulars https://www.rentsmart.gov.wales/en/
If applicable, you can arrange training online or in person directly through rent smart wales or through another approved training provider.
Cardiff Estates & Lettings is a member of a client money protection scheme and a Registered SafeAgent
Cardiff Estates & Lettings is a member of a redress scheme, which is The Property Redress Scheme
VAT
Unless otherwise stated, Value Added Tax (VAT) is payable on all fees and expenses at the prevailing standard rate. Should the VAT rate increase or decrease at any stage, it will be charged at the prevailing standard rate applicable at the time of issuing an invoice.
STANDARD FEES - Subject to change
Initial Finder’s Fee
1/2 months’ rent +vat (60% inclusive of vat) - Managed
3/4 months’ rent +vat (90% inclusive of vat) - Let Only
Management Charges
10% +vat = 12% of monthly rental - Managed
12% +vat = 14.4% of monthly rental - Overseas Landlord
Rent Guarantee option: Additional charges will apply, to be provided on request
These standard charges may be subject to any current promotional offer and may vary by agreement
Let Only – non applicable
Occupation Contract Renewal
1/4 Months’ rent +vat (30% inclusive of VAT) - Managed
1/2 Months’ rent +vat (60% inclusive of VAT) - Let Only
Negotiating & re-signing contracts or processing change in contract holder in a joint periodic contract
Rent Smart Wales 5 Years Registration
£30 +vat = £36 payable Non-licensed Management Landlords ONLY
General Administration Fees
£30+ vat = £36 occupation contract external referencing fee if requested
£30 + vat = £36 - registration/management of a deposit
£175 + vat = £210 - process a deposit dispute - Managed
NO CHARGE - move out report – Managed
£200 + vat = £240 - move out report - Let Only
£30 +vat = £36 - change bank details mid occupation contract
£45 +vat = £54 - full financial summary report
£5 +vat = £6 per copy to resend monthly statement
£150 + vat = £180 - take over management of an active occupation contract
£60 + vat = £72 – to pay a third-party bill on behalf of the landlord. Cardiff Estates & Lettings is not liable for any further charges that may be incurred and payable by the landlord to the third-party company or individuals
Labour Charges
10% + VAT = 12% (minimum £24 including VAT) work arrangement - Managed
20% + VAT = 24% (minimum £60 including VAT) work arrangement - Let Only
£70 +vat = £84 per hour - for out of working hours or to await a delivery
20% of net cost for refurbishment projects >£500 To arrange/attend a property for maintenance.
This work arrangement fee will be additional/added to the cost of works quoted.
3rd Party Valuations
£55 +vat = £66 - arrange/attend a valuation, or viewings by a third-party agent
Serving Notices
£100 +vat = £120 - per notice
£90 +vat = £108 - notice of rent variation
Occupation Contract Aborted
Request from landlord to cancel verbal/written agreement:
1/2 months’ rent +vat (60% inclusive of vat) - Managed
3/4 months’ rent +vat (90% inclusive of vat) - Let Only
Termination of Contract
Request from landlord to take over the management of an occupation contract:
1 months’ rent +vat (120% inclusive of vat) - end management contract
Repossession
£150 +vat = £180 - deal with a repossession notice served on a property, attending an eviction
Insurance Claims
£200 +vat = £240 - work involved with an insurance claim
Legal Issues
£600 +vat = £720 - submit application for County Court Claim/Possession order
£200 +vat = £240 (per day) - attend court on behalf of a landlord
£300 +vat = £360 - complete eviction process/instruct bailiffs/change locks
£70 +vat = £84 per hour to attend any appointments relating to an eviction
£25 +vat = £30 per hour for any administration work relating to an eviction
Any other legal costs incurred are payable by the landlord as necessary
Inventory
NO CHARGE – Initial Inventory - Managed
Initial Inventory charges – Let Only:
£125 +vat = £150 Studio
£150 +vat = £180 1 Bed
£175 +vat = £210 2 Bed
£200 +vat = £240 3 Bed
£300 +vat = £360 4+ Bed
Full Inventory Report with photographs
Utilities
Setting up/changing utility/council tax accounts:
NO CHARGE - Managed
£10 +vat = £12 - notify supplier of change in responsibility - Let Only
£25 +vat = £30 - register persons responsible for water charges - Let Only
Energy Performance Certificates (EPC) / Gas Safety Renewals
£108 (Including vat) each
Electrical Installation Condition Report (EICR) / Portable Appliance Testing (PAT)
The cost of an EICR in estimated at £150 + VAT = £180 which may vary according to the size of property Please note that this does not include costs of any further works required to address anything that may be identified in the report.
The cost of PAT is £50 + VAT = £60
Post
An administration fee of £6 (Including vat) will be charged for each letter collected from the contract holder's address and redirected to the landlord.
Late Payment Charges
Per Phone Call/Text/E-mail £20 +vat = £24
Per Arrears letter £50+vat = £60
Issue court proceedings £150 +vat = £180
Debt Recovery charge 20% of outstanding debt
Compound Interest charges for any late payment will be calculated at 8% above the Bank of England base rate for each day payment is outstanding 7 days from the due date and will apply until payment is made in full
NOTE: The above charges are subject to amendment. A copy of the most recent full schedule of charges is available in our office and on our website. Unless otherwise stated, Value Added Tax (VAT) is payable on all fees and expenses at the prevailing standard rate. Should the VAT rate increase or decrease at any stage, it will be charged at the prevailing standard rate applicable at the time of issuing an invoice.
