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Frequently Asked Questions from Landlords

By Martine Harris
Mon 23 Jul 2018

Your Questions – Our Answers
 

Below is a small selection of the most frequently asked questions that landlords come to us with.

How much will it cost to let my property?
The main costs you’ll need to consider when letting your property are:

  • An Energy Performance Certificate (EPC) – This can usually be arranged by your letting agent and we have found that costs for this can vary depending on the size of your property (we charge £84 inc VAT as standard).
  • An inventory and check in report – this must be carried out before your tenant moves into the property. Again, costs vary due to property size.
  • Commission Fee – Varies in percentage per agency depending on which service type you require (Tenant find only, Part-Managed or Fully Managed).

At Moginie James, our costs are set out clearly and transparently from the outset - for full details on our costs (including the above charges), please click here

Who will carry out viewings and when will they happen?
Upon the property reaching the market, we will phone through our extensive list of applicants immediately to ensure viewings take place as soon as possible. It is not unusual for our viewings to have been arranged within 24 hours of the launch. At Moginie James we accompany all viewings during office opening hours. Accompanied viewings are integral to getting that all-important offer following a viewing and we have become masters at this!

Should I be present at viewings?
We would recommend that home-owners are not present at viewings, as this ensures that potential tenants can speak openly and freely, which we have found is not always possible when they fear inadvertently upsetting the landlord. Through open discussion, we are able to establish the potential tenants likes and dislikes and alleviate any concerns they may have.  

I’m interested in having my property managed – how much does it cost?
Great choice! Full property management is charged as a percentage of the rental price plus VAT.
At Moginie James, we offer a Fully Managed package for 15% inc VAT (12.5% ex VAT) which includes Legal Expenses cover and Rent Guarantee (ie. Rent paid on the same date and time each month regardless of if the tenant pays) as standard. We know how important peace of mind is, and with us, premium comes as standard.

How much deposit should the tenant give and what happens to it?
We charge one months rent + £100, payable upon signing the Tenancy Agreement.
All deposits are registered with a tenancy deposit protection scheme within 14 days of receipt.

Who is responsible for arranging an inventory?
This is dependant upon the service type you have arranged.

When do I receive my rent from the tenant?
You should receive your rent by standing order on the rental due date every month. The due date is usually the day the tenant moved in.

Thanks for reading and if you have any other property related questions in addition to those above please don’t hesitate to get in touch with us – we’d love to help you.

Moginie James Team

PS: If you want to let your property quickly, professionally and cost-effectively Call our team on 029 20761 999 or email: homelife@moginiejames.co.uk for honest, expert and friendly advice
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