Landlord Information

Diamond Locations provides a range of sales and letting and management services based on the experience, skills and expertise of our sales and lettings teams.

Sales fees: (1.5% all Inclusive - Sole Agency); (2.5% all Inclusive - Multi Agent)
Rental fees: Please speak to a member of lettings as fees varies depending on type of let and number of units

MARKETING/FINDING A TENANT

Fully Managed Letting Service:

  • Inspections (as agreed)
  • Monthly collection of all rents and a monthly statement
  • Dealing with all first line management calls
  • Multi Office coverage
  • Guaranteed weekly advertising and prominent window display
  • Tenant Check out

Rent Collection Service:

  • Monthly collection of all rents and a monthly statement
  • Multi Office coverage
  • Guaranteed weekly advertising and prominent window display

Whether you chose to opt for a Full Management Service or not, as your Letting Agent we will provide a rental valuation which will be based on the popularity of the area, proximity to transport, rental price of similar property and decorative condition to name but a few.
It is important to price your rent fairly but realistically in order to attract the most suitable Tenant.

Your rental property will be regularly advertised in the local press as well as displayed in our offices and feature on our website and other sites. We also contact all listed prospective Tenants, local companies and relocation agents.

Diamond Locations will arrange viewings, vet prospective Tenants and obtain references, draw up contracts and advise you on your Safety and Repairs obligations (see LEGAL DUTY OF CARE).


References

Once Diamond Locations have found a tenant for your property we will take holding deposit and we will take up references.

Furnished or Unfurnished

Most professional Tenants prefer the property to be unfurnished and it has been found that a Tenant is likely to respect the property more if they have their own possessions. Moreover the difference between rent for furnished or unfurnished is negligible and the Landlord remains responsible for the repair of replacement of any furnishings which become broken or worn (unless this was caused by a deliberate act of the Tenant - see Damage Deposits).

Drafting of Tenancy Agreements

The Letting team at Diamond Locations will prepare an Assured Shorthold Tenancy Agreement or a Company Tenancy Agreement, all legal documentation and give practical general legal advice.

Damage Deposits

Diamond Locations will take a deposit that will be held in our Client Deposit Account until the end of the Tenancy. Upon vacation of your property, there will be a re-inspection and any refunds will be made within a maximum of 10 days, provided that there are no disputes and all utility accounts have been settled.

Inventory

Diamond Locations advise that a professional Inventory and Check In should be drawn up. This is an important legal document which forms an integral part of the Tenancy Agreement and, as such, it is a false economy to prepare your own in most cases.

The Inventory is required whether the property to let is furnished or unfurnished and accurate descriptions of the overall condition of wall/floor coverings, kitchen and bathroom fittings to name but a few are essential. Amounts cannot be withheld from the Tenant's deposit unless the loss or damage is proved to have been caused by the Tenant.

In the event that any dispute concerning loss or damage to your property is not amicably resolved then the matter will be referred to the Courts and arbitration but should be noted that any judgement will be on the basis of written documentation of the Inventory.

Repairs and Maintenance

The costs of everyday repairs and maintenance are the responsibility of the Landlord but, if we are instructed to manage your property on your behalf, we will pay the contractor out of the Tenant's rent. We can also organise quotes for approval on any major repair as this becomes apparent.

Under the LANDLORD AND TENANT ACT 1985, Landlords are responsible for repair of the structure and exterior of the property, together with installations for the supply of gas, electricity, water and sanitation.

If the property is not in a good state of repair at the commencement of the Tenancy, the Tenant has the right to insist that repairs are carried out and, in the event that the damage is serious, the Tenant will be entitled to consider the letting as terminated as the Landlord will be in breach of his obligations.

Collection of Rent

This is usually done on a calendar monthly basis and is forwarded to the Landlord via Bank Transfer after any agreed deductions have been made for contractors etc.

Legal Duty of Care

Under common law, the Landlord must ensure that properties to let are safe and failure to comply with Safety Legislation is considered a criminal offence resulting in legal action and prosecution.

As your Agent, we can carry out safety checks upon your request, deducting the cost from your rent. It is the landlords responsibility to make sure that their EPC certificates are Valid.
1. Gas - (The Gas Safety (Installation & Use) Regulations 1994 (amended 1998): the Landlord must maintain gas installations and all gas appliances through annual inspections and safety checks carried out by a CORGI registered engineer and a copy of the Current Inspection Certificate must be given to the tenants and also held in the Diamond Locations office.

2. Electricity - (The Electrical Equipment (Safety) Regulations 1994 & Electricity at Works Regulations 1989- the Landlord must ensure that all mains voltage household electrical appliances and equipment is tested and safe to use. Any non-repairable items must be replaced and removed. An NICEIC or similarly qualified electrical engineer must carry out these tests on an annual basis. All operating instructions must be left in the property for the Tenant's benefit.

3. Furniture and Furnishings: The Furniture and Furnishings (Fire) (Safety)Regulations 1988 (amended 1989 & 1993) - Soft furnishings (such as mattresses, settees, bed bases, cushions and padded headboards) must meet fire resistance standards and bear a permanent label confirming this. If compliance cannot be proved, the item must be removed and replaced.

4. Smoke Detectors: whilst only properties built after 1992 legally require the fitting of smoke detectors (Building Regulation 1991), we would strongly recommend that smoke detectors are fitted to each floor of the property being let.

NB: The penalty for failure to comply with statutory gas safety legislation is currently a maximum of £5,000 and/or 6 months imprisonment for each offence. This can be harsher in the case of injury or fatality.

The above is only a guide to safety requirements and should you have any further enquiries, we would recommend that you contact us or a qualified solicitor who will be able to verify these in full.

NB: The above is merely a guideline and for fully qualified advice, you should contact an appropriate Accountant or Tax Expert.

Summary of services provided by us:


* Advice on letting your property
* Rental evaluation, provision of property details with colour photographs
* Advertising of your rental property in local publications, on our website and other sites
* Accompanied viewings and finding of a suitable Tenant
* Reference and credit check of prospective Tenants
* Obtaining security deposit/rent guarantee
* Obtaining competitive quotes for insurance
* Organising/preparing the Inventory and Check-In (additional charge)
* Preparing Tenancy Agreement and Legal Notices
* Arranging transfer of Utilities to Tenant's name and establishing Council Tax and Water Rates in Tenant's name
* Advising on compliance with Safety Regulations for Gas/Electricity supplies etc.
* Collecting monthly rental payments and providing monthly accounting to Landlords
* Arranging annual gas safety checks (chargeable)
* Periodic inspection of the property and reporting of any problems (possibly chargeable)
* Obtaining competitive quotations and, upon approval, arranging for necessary repairs/maintenance to be carried out
* Contacting the Tenant and arranging for renewals and/or check-out as necessary

More information

Please email us on info@diamondlocations.co.uk with your contact details and we will be happy to further assist and arrange a visit to discuss and valuate your property whether if its commercial or residential . Alternatively please contact us on 0845 299 6662 or 020 7724 0085 and one of our dedicated and friendly team members will be happy to assist.