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 Ombudsman
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:
No more than 3/4 months’ rent +vat (90% inclusive of vat) for Managed properties
No more than 1 months’ rent +vat (120% inclusive of vat) for Let Only properties
Management charges:
10% +vat = 12% of monthly rental
12% +vat = 14.4% of monthly rental for an Overseas Landlord
Rent Guarantee option: Additional charges will apply, to be provided on request
Tenancy Renewal:
1/4 Months’ rent +vat (30% inclusive of VAT) for Managed properties
1/2 Months’ rent +vat (60% inclusive of VAT) for Let Only properties
Rent Smart Wales:
£40 +vat = £48 payable for management properies every 5 years (non-licensed Landlords)
Administration Fees:
£25 + vat = £30 for registration/management of a deposit
£60 + vat = £72 to process a deposit dispute through a Tenancy Scheme
£70 + vat = £84 to provide a move out report to Let Only Landlord
£25 +vat = £30 Change bank details mid tenancy
£5 +vat = £6 Request for additional statements per statement
£25 +vat = £30 Full Financial Summary Report
£45 +vat = £54 to administer change of ownership details
£150 + vat = £180 to take over the management of a tenancy from another agent
½ Months’ rent + vat for any change in tenancy e.g. change in tenants
Labour Charges:
10% + VAT = 12% (minimum £18 including VAT) work arrangement fee - Managed properties
20% + VAT = 24% (minimum £36 including VAT) work arrangement - Let Only
£15 +vat = £18 per visit
£45 +vat = £54 out of hours
20% of net cost for refurbishment projects >£500
Valuation visits by a Third Party:
£45 +vat = £54 to arrange and attend to a valuation, or viewings by a third-party agent
Serving Notice:
£70 +vat = £84 per notice
Tenancy Abortive Cost:
3/4 months’ rent +vat (90% inclusive of vat)
Termination of Contract:
1 Months’ rent +vat (120% inclusive of vat) to end management contract
Repossession:
£70 +vat = £84 to deal with a repossession notice served on a property
Insurance Claims:
£200 +vat = £240 for work involved with an insurance claim
Legal Issues:
£210 +vat = £252 to submit an application for a County Court Claim
£110 +vat = £132 to attend court on behalf of a landlord
£210 +vat = £252 to obtain a possession order through the courts
£300 +vat = £360 to complete eviction process/instruct bailiffs/change locks
£70 +vat = £84 per hour to attend any appointments relating to a tenancy eviction
£25 +vat = £30 per hour for any administration work relating to a tenancy eviction
Initial Inventory charges - LET ONLY:
Furnished:
Studio £90 +vat = £108
1 Bed £125+vat = £150
2 Beds £150+vat = £180
3 Beds £185+vat = £222
4+ Beds £215+vat = £258
Unfurnished:
Studio £45 +vat = £54
1 Bed £80+vat = £96
2 Beds £90+vat = £108
3 Beds £140+vat = £168
4+ Beds £160+vat = £192
The above inventory charges will be reduced by 50% for any revised/renewed inventories
Utilities - LET ONLY:
£10 +vat = £12 to notify utility companies/council tax of change in responsibility
£25 +vat = £30 to register persons responsible for paying water charges
Energy Performance Certificate (EPC):
The cost of arranging an EPC to be completed by an accredited scheme member is £90 Inclusive of VAT for 1 and 2 beds. Each additional bedroom costs £12 Inclusive of VAT.
Gas Safety Renewal:
The standard cost of a gas safety to be completed by a gas safe registered plumber is £90 inclusive of VAT but this may vary according to the size of property
Post:
An administration fee of £6 inclusive of VAT will be charged for each letter collected from the tenanted address and redirected to the landlord.
Late Payment Charges:
Charges will apply if any payment due is not received in clear funds within 7 days of payment due date:
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 3% above the Bank of England base rate for each day the payment is outstanding 14 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.
