Landlord Information
Pegasus Properties provides a range of services to suit the individual needs of all landlords.
The properties should be well maintained and conform to legal standards of safety. Advice is available on these important issues.
All properties are advertised in the local paper, www.findaproperty.com, www.primelocation.com and this website ensuring that the details of your property are made available to an even wider public.
Contact is maintained with both landlord and tenant, thereby achieving a speedy and satisfactory resolution to any problems or disputes that may arise.
Recognition is given to the fact that you have entrusted one of your valuable assets to Pegasus Properties and priority is given to undertake management duties in such a way that: -
- the property is well looked after by carefully chosen tenants
- the property achieves its maximum income
- a landlord may repossess his property in accordance with normal procedures
Pegasus Properties is covered by Professional Indemnity Insurance, and clients can have confidence that rental funds and tenants deposits are secure. From 6 April 2007, tenants deposits have to be held in a Government approved scheme and we use The Deposit Protection Service. Further information may be found on their web site www.depositprotection.com.
Pegasus Properties pledge to manage your property and your tenants with professionalism and complete integrity at all times, and on this basis I hope that you will entrust your property to us.
Generally speaking I advise landlords to let their property exclusive of all charges, which means that the tenants will assume responsibility for payment of the Council Tax, water rates, electricity, gas (or oil), telephone and any other outgoings assessed on the property. Letting under this system, the landlord gets a greater benefit from the rent. At the end of each tenancy your rent is reviewed and if market conditions permit, and with your consent, a rent increase is instigated.
If the property is going to be let furnished or part furnished, then please note that all soft furnishings, e.g. sofas, chairs, mattresses, headboards and cushions must be fire resistant in order to comply with the Furniture and Furnishings Fire Safety Amendment Regulation 1989. All of the aforementioned must have the label attached to show that they are fire resistant otherwise they have to be removed/replaced.
Where there is gas in the property, it is the landlord’s responsibility that each gas appliance is certified by a Gas Safe registered heating engineer with a Landlord’s Safety Certificate issued. This certificate has to be renewed on an annual basis. Pegasus Properties require a copy of this certificate so that a copy is held in your file and a copy provided to the tenants. This annual check can be arranged on your behalf with payment deducted from your rental income.
Written consent may be required from your Mortgage lender if you have a mortgage on your property.
The services on offer to Landlords can be either: -
- Introduction (Let Only)
- Full Management Services
If these services do not meet your requirements, please call to discuss your needs so that a package can be drawn up that suits you.
Introduction (Let Only)
A letting fee equivalent to three weeks rent is payable which includes the Tenancy Agreement, but not the Inventory and Schedule of Condition of the property, and can be negotiable if more than one property is let through Pegasus Properties.
The Full Management Service includes the following: -
- Viewing the property and advising rental valuation. The first viewing and rent assessment is free and without obligation.
- Advertising the property in the local media, their web sites and on Pegasus Properties web site.
- Introducing and screening prospective tenants
- Preparation of the correct form of Tenancy Agreement
- Collecting a deposit from the Tenant equivalent to one and a half times the calendar monthly rent. As previously advised this will be held with The Deposit Protection Service
- Demanding of rent from the Tenant/s and accounting to the Client on a monthly basis, when rents are received
- Inspection of the property on a regular three monthly basis or more often if circumstances require
- Reading utility meters and notifying the appropriate authorities of the readings and changes of occupancy. The taking of oil levels(if required) and ensuring the levels return at the end of the tenancy.
- At the termination of each and every tenancy to check the Inventory and Schedule of Conditions. To agree with the Landlord and Tenant where there is a need to make a deduction from the deposit funds
- Organising and overseeing repair/maintenance works as necessary and making payment from the rental income
- Advising tenants to insure their own personal belongings and those of the landlord for which he is responsible
- Every effort is made to ensure that rents are paid on time and good references obtained. However, if a tenant should become unable to meet his commitments or absconds leaving debts, Pegasus Properties cannot accept financial responsibility
- Details of rental protection insurance can be provided on request
- Monthly commission rate is 11% of the calendar monthly rent for managed properties (if you are an overseas landlord, the rate is 15%). No VAT is payable.
- Tenancy Agreement Fee of £75.00 for a new tenancy with a fee of £37.50 if a renewal Tenancy Agreement is required.
- Taking a complete and detailed inventory and schedule of the condition of the property and contents with photographs. (This to be an additional cost subject to the size of the property).