PROPERTY LETTING FOR PRIVATE LANDLORDS
At Diverse Lets we aim to make the letting process as simple, trouble-free and cost effective as possible by providing a highly professional service to private landlords. We are based in Leicester and specialise in the areas of Highfields, Evington and Scraptoft (LE2, LE5 and LE7 postcodes). Whether you are a long serving landlord, or are letting property for the first time, we offer a comprehensive service which we operate in a friendly, approachable and consistent manner.
Free Initial Consultation Visit
There’s no charge for our initial consultation visit and no obligation for you to agree and use our services. Please look on it as an information gathering exercise. It has to be worth finding out whether we can help. While we’re at your property, we’ll complete a property survey, identifying the main features and benefits of the property. Should you then decide to let the property through us, we’ll be ready to go. Once you’ve decided to allow us to manage the property we’ll draw up an agreement detailing the rent and terms agreed. We will advise you on refurbishment and provide guidance on compliance with statutory provisions and letting consents. Advice on non-resident tax status and HMRC can be provided (if relevant). We can handle everything including:
Finding the right tenant for the property which has to be high on your list of priorities. We will arrange a convenient time to visit the property and discuss with you the type of tenant required, a reasonable rent for the property and any other queries you may have. If you agree, we’ll set about finding the right tenant(s) for you. Naturally, we’ll keep you informed every step of the way.
For the Landlord who already has a suitable tenant installed and wishes Diverse Lets to assume management of the property we offer our “property management only” option. We check you are receiving a fair rental income, check to ensure that your existing tenancy agreement complies with the Housing Act of 1988, check to ensure that your existing safety certificates are correct and valid.
When a tenant is in occupation, we work on your behalf keeping your tenant safely in place without the need for you to get involved in the day to day letting process.
At the end of a tenancy, we will check the property against the inventory and deal with the deposit refund to the tenant. We will also arrange cleaning and any minor repairs necessary at the end of the tenancy to prepare the property for a future tenant… which of course we will be happy to help you find!
Summary of How We Collect Our Fees:
The fee for an initial letting, or re-letting, is only payable upon installation of the tenant and will be deducted from the first months rent (NO TENANT – NO FEE).
Our management commission (%) will be deducted from the monthly rent collected.
Optional and non-optional fees (detailed below) will be collected monthly.
For total convenience and peace of mind, we recommend our full management and tenant finding service detailed below:
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Client Money Protection provided by: Client Money Protect
Independent Redress provided by: Property Redress Scheme
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SERVICES & FEES: TO LANDLORDS (VAT is not applicable)
Service 1: FULL MANAGEMENT AND TENANT FINDING
Letting the Property:
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Initial Letting & Re-Letting:
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50% of first months rent, with a minimum of £300.00
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- We will give you a valuation for rental purposes, together with our recommendations on rent achievable, and agree the asking rent with you.
- Find a tenant in accordance with the landlord guidelines
- Preparation of property particulars
- Advertising the property
- Erect board outside property, if requested, in accordance with Town and Country Planning Act 1990
- Accompanied viewings to the property
- Negotiations with the tenant on your behalf
During the Tenancy:
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Rent Collection and Management:
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10.0% of the monthly rent collected
15.0% of the rent collected for shared houses
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- Make monthly rent collections, pursuing any late payments, and credit the relevant amounts to your bank account.
- Issue monthly statements outlining all monies received, together with charges for commission and other works.
- We will make periodic inspections of the property, to establish if any problems have arisen. We will report any change of condition or circumstance and ensure the tenants are in compliance with their agreement.
- Receive enquiries direct from the tenant regarding maintenance issues and arrange estimates for repairs & renewals (all of which are subject to landlord’s approval).
- Instigate and track the annual safety checks.
- Deal with emergencies concerning the property.
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Client Money Protection provided by: Client Money Protect
Independent Redress provided by: Property Redress Scheme |
SERVICES & FEES: TO LANDLORDS (VAT is not applicable)
Service 2: PROPERTY MANAGEMENT ONLY
During the Tenancy:
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Rent Collection and Management
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12.5% of the monthly rent collected
15.0% of the rent collected for shared houses
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- Make monthly rent collections, pursuing any late payments, and credit the relevant amounts to your bank account.
- Issue monthly statements outlining all monies received, together with charges for commission and other works.
- We will make periodic inspections of the property, to establish if any problems have arisen. We will report any change of condition or circumstance and ensure the tenants are in compliance with their agreement.
- Receive enquiries direct from the tenant regarding maintenance issues and arrange estimates for repairs & renewals (all of which are subject to landlord’s approval).
- Instigate and track the annual safety checks.
- Deal with emergencies concerning the property.
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End of Tenancy
- If your tenant leaves the property and you require Diverse Lets to find a new tenant on your behalf please refer to Service 1 - Full Management and Tenant Finding.
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Client Money Protection provided by: Client Money Protect
Independent Redress provided by: Property Redress Scheme
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SERVICES & FEES: TO LANDLORDS (VAT is not applicable)
ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE):
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Tenancy Set up:
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£66 per tenant named on tenancy agreement + £66 per guarantor (if required)
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- Referencing each tenant (identity checks, right to rent checks, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability)
- Preparation of the Shorthold Tenancy Agreement
- Setting up of a Bank Standing Order Mandate for the rent collection
- For guarantor (if required): identity checks, financial credit checks, obtaining reference, and preparing a Deed of Guarantee as part of the
Tenancy Agreement
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Accompanied Check In:
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FREE – no fee to Landlord or Tenant
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- Attend on the move in day, check the inventory and the tenancy agreement with the tenants, obtain signatures, and hand over the keys
- Reading of gas, electricity and water meters
- Explaining how appliances, heating system and safety features work, including smoke/heat alarms
- Show locations of emergency stops (gas, electricity and water)
- Confirm the recycling and refuse collection arrangements
- Notification of change of occupier to the relevant suppliers and local council for all utility services into the property and council tax purposes
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Deposit Registration:
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£15 per deposit registration
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- Collection of a security deposit and submission of the deposit to The Deposit Protection Service www.depositprotection.com
- Provide the tenant(s) with the Deposit Receipt and Prescribed Information within 30 days of receiving the deposit.
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Comprehensive Inventory:
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£50 for one bed apartment + £10 per extra room
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- Preparation of an Inventory and Schedule of Condition for the property
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Check Out & Deposit Return:
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FREE – no fee to Landlord or Tenant
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- We will serve the necessary notices & carry out a final inspection on the day of departure, checking of the inventory & reading of utility meters.
- Agree with tenant the check out date and time of appointment
- Negotiate with landlord and tenant any disbursement of the security deposit
- Process the return of the deposit via Deposit Protection Service
- Instruct contractors; obtain quotes; organise repairs /replacement/cost of any broken or missing items
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Renew Tenancy Agreement:
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£40.00 per tenancy agreement
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- Arranging a further tenancy and agreement
- Contract negotiation, amending and updating terms
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Rent Review:
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£15.00 per rent review
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- Review rent in accordance with current market conditions and advise the landlord
- Negotiate with tenant. Direct tenant to make payment change as appropriate
- Update the tenancy agreement
- Serve Section 13 Notice if tenancy is on a rolling monthly basis
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Deal With Professional Enquiry:
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£15.00 per hour billed by ¼ hour
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- This includes insurance claims, meeting loss adjusters, solicitors, estate agents should you decide to sell your property, and similar enquiries
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Carry Out Minor Maintenance:
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£15.00 per hour billed by ¼ hour
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- This includes cleaning, replacement of light bulbs, moving furniture, installation of white goods, and similar maintenance
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Supervise Contractors:
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£5.00 per hour billed by ¼ hour
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- This included locksmiths, supervising access for meter readers, handyman, and other similar supervision of contractors.
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Wait at The Property:
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£5.00 per hour billed by ¼ hour
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- Attending for delivery drivers and signing for deliveries, and similar waiting time.
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Project Management of Refurbishment or Major Repairs
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10% of total cost of project
where cost is over £500 (Inc VAT)
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- Organising major refurbishment of part, or the whole of a property, new bathrooms, kitchens, central heating. We always advise Landlords on what works are required and do not proceed without permission.
- Arranging access and assessing costs with contractor
- Ensuring work has been carried out in accordance with the specification of works. Retaining any warranty or guarantee as a result of any works
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IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK
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