London Lettings Brochure
24
lettings
description
Â
Transcript of London Lettings Brochure
lettings
2. Introduction
4. Lettings Market Outlook
6. Commitment to Excellence
7. Coopers Approach
8. Corporate Department
10. Marketing
12. Lettings Process
14. Property Management
15. Our Services
16. Tenancy Deposit Scheme
17. Referencing
18. Legal Obligations
20. Overseas Tax
21. Testimonials
Index
2
Introduction
Established in 1986 and having built our company on a
strong service orientated approach we have made a
reputation for looking after our clients properties whilst
always ensuring maximum returns on their investment.
Whether you own a second home, are temporarily
relocating to another area or are a professional landlord
with a property portfolio, our commitment to excellence
looks to maximise the potential of your investment. We
aim to guide our clients through the lettings procedure as
smoothly as possible and be on hand to advise on any
issues that may arise.
Our investment in the latest technology, unrivalled level
of marketing, strategically located offices and our superb
lettings team dedicated to achieving results ensures our
Landlords come back to us year after year.
This brochure contains information about your own
obligations, our services and explains the lettings process
in detail.
3
The percentage of the UK population that choose to rent
a property has risen sharply in recent years and we
predict that this upward trend will continue for the
foreseeable future. Factors such as first-time buyers
requiring large deposits, people moving more frequently
and the emergence of a more continental attitude
towards owning property indicate that rental demand
will steadily increase.
These nationwide trends are magnified in London, where
the rental market is particularly buoyant. The population
is extremely transient, house prices are increasingly
unaffordable and there is a constant influx of people in
demographics that are almost certain to be living in
rented accommodation.
Over the last few years we have seen an increase in rental
yields, void periods are down and generally, it has been
an excellent time to be a landlord. London’s population
is growing at a rate that cannot be met by the supply of
new housing. This means that the existing housing stock
will become more sought after and rents will continue to
rise accordingly.
Lettings Market Outlook
4
5
Our people are our biggest asset and the continuous training that they all undergo ensures
that our landlords and tenants are given the best up to date information and advice
available. We pride ourselves on recruiting bright and enthusiastic individuals and giving
them a dynamic, friendly and professional environment to thrive in. In an industry where staff
turnover is high, the longevity of our team benefits our landlords as they are able to liaise
with the same individuals year after year.
ARLA, The Association of Residential Letting Agents is the only professional self-regulating
body to be solely concerned with Lettings. Being a licenced member of ARLA and the
Property Ombudsman Scheme means we adhere to follow a strict code of conduct
regarding our practising methods and client accounting.
Commitment to Excellence
6
Coopers Approach
Having dealt with Landlords since 1986 we have seen many changes to the lettings
industry. Fundamentally however the basic principles remain the same with the three
most important components forming the foundations of our approach.
Our aim is to:
• Achieve as much rent for your property as possible
• Ensure there is no void period where your property remains empty
• Secure suitable tenants for your property, people who pay the
rent on time and look after your investment
7
2012 saw us open our Corporate Lettings department to
complement the existing lettings team. Andrew Fagan,
who has been instrumental in setting up the department,
outlined the reason for the dedicated Corporate Lettings
offering:
'Over the last few years Coopers have established links
with a number of large corporate employers across Cen-
tral London and Canary Wharf, as well as relocation
agencies that specialise in placing corporate employees
and short-lettings specialists. Corporate lets are desirable
to our landlords as the tenants tend to be of the highest
quality. Due to the peculiarities of corporate lets these
clients much prefer to liaise with designated staff mem-
bers who have experience in the area. With this in mind
we felt it was important to tailor our approach to make
ourselves as attractive as possible to such companies -
this has been very successful so far.’
One and two bedroom modern apartments are in con-
stant demand by many of our corporate Clients, as are
larger prestige homes.
Corporate Department
8
9
Marketing Campaign
Combining traditional marketing methods whilst embracing modern technology enables us
to reach the widest target audience possible for your property.
We firmly believe in giving your property maximum exposure in as many marketing
channels as possible giving us the best chance of finding you the most suitable tenant.
At Coopers we have invested heavily in ensuring we are prominently placed when searches
are made online and we have thousands of people visiting our website every month. All of
our new properties are uploaded to our site immediately with email alerts sent to all our
prospective tenants.
As there are over 1.7 billion internet searches carried out in the UK per month we make
sure our properties are seen on as many sites as possible with our presence on all the
major property portals.
One of the many benefits of being established for over 25 years is the relationships that
have been formed with the many organisations locally with our contacts receiving updates
as soon as new properties come to the market.
10
11
www.coopersoflondon.co.uk
The Lettings Process
When inviting Coopers to your property, either a Partner or Manager of
Coopers will visit you to advise on how much rent you should expect to
achieve. We will also advise on décor, minor repairs, furnishing and put
forward suggestions that will look to enhance your rental income.
First impressions are of paramount importance when Tenants view your
property and can go a long way to ensure that you don’t encounter periods
when your property is left empty.
After the photography has been carried out and a marketing price has been
agreed the property will be placed on to the rental market. Viewings will be
arranged at the property with prospective tenants and all viewings will be
accompanied by an experienced member of the Coopers lettings team.
This will enable us to answer any questions and to discuss anything from
transport connections, length of contract or up to date legislation.
All offers received will be relayed to you and we will offer initial advice as
well as outlining the terms of the offer including contract commencement
date, furnishings and length of contract.
Offers that are agreed are subject to the tenants proving their suitability.
Referencing is carried out by the specialist professional referencing
company, Experian, who obtain employment and landlord references and
carry out credit checks.
Once this process has been completed the tenancy agreement is then drawn
up detailing the terms of the contract with the tenant. Once both parties
have signed the agreement and the first month’s rent and deposit is in place
the tenant will move in.
12
13
14
The Coopers property management team is there to take the stresses and strains out
of being a landlord. Our management specialists have the experience and expertise
(and patience!) to deal effectively with the various issues that inevitably arise during each
tenancy. They are committed to finding the most timely, cost effective and lasting solutions
to each management problem.
We understand that our landlords are busy people so our property managers take on the vast
majority of tasks related to letting out a property. These include: Handling tenant queries at
all hours, dealing with appliance breakdowns and boiler problems, managing redecorations,
deposit administration, co-ordinating contractor visits, sourcing quality tradesmen,
collecting the rent on a monthly basis, chasing arrears, renegotiating the contract on
renewal and handling any relevant legal notices.
The lettings industry is becoming increasingly heavily regulated with the government
implementing more and more mandatory legislation. In recent times we have seen the
introduction of Energy Performance Certificates, Tenancy Deposit Schemes, Licensing of
‘Houses of Multiple Occupation’ and gas safety inspection hatches. Our team will keep your
property in line with The latest legislation.
Property Management
Coopers offer three services which means that all our Landlords are
catered for depending on their circumstances.
15
Our Services
Full Management Rent Collection TenantFinding Service
Free Valuation √ √ √
Comprehensive Marketing √ √ √
Accompanied Viewings √ √ √
Tenant Referencing √ √ √
Provide Legal Paperwork √ √ √
Arrange Optional Rent Protection Policy √ √ √
Organise Gas Safety Certificate & EPC √ √ √
Arrange Inventory √ √
Provide Monthly Statements √ √
Collection of Rent √ √
Transfers of Utilities √
Arrange Repairs & Maintenance √
Managing the Check Out Process √
Advising on Deposit Deductions √
Tenancy Deposit Scheme
A deposit is paid by the tenant and held by us as stakeholder (unless otherwise instructed)
under the Tenancy Deposit Scheme for the duration of the Tenancy.
An independent inventory is now essential when letting out your property as without this
it will be highly likely that should a dispute arise regarding the deposit you will not be
awarded any monies from the arbitration committee.
Check out Procedure
If your property is managed by us and after receiving the Check Out report we will
ascertain any possible deductions that are to be attributed to the tenant. Quotes for the
necessary works will be sought and we will liaise with the tenant to get these costs agreed.
Should we not manage the property then the Check Out report will be forwarded to the
landlord so that they can go through the report directly with the tenant and look to agree
any reasonable deductions. This should take no longer than 10 days after the end of the
tenancy. Once we have the agreed deductions confirmed in writing from both parties we
will release the deposit monies.
In the event of a dispute that cannot be resolved between the landlord and tenant, either
party can instigate adjudication with the Independent Case Examiner (ICE). We must then
send the deposit (less any amount agreed by the parties and paid over to them) to the ICE
within 10 working days of the dispute being registered.
16
Referencing & Rent Protection
17
Minimising risk on an investment is always a priority for any Landlord and accordingly it
is extremely important that tenants are trustworthy and reliable. Once an offer has
been accepted for the property the prospective tenants will be referenced by a specialist
referencing company. The referencing companies we use are extremely professional and the
checks they carry out are comprehensive.
By looking into a prospective tenants’ employment, credit and rental history, we can build
up a profile that allows our Landlords to make an informed decision on whether to proceed
with the let.
This process normally takes 48 hours (subject to availability of referees) and after the
Tenants references have been approved a Rent Protection and Legal Expenses Warranty will
be offered. This policy gives you peace of mind that should anything untoward happen you
will be covered.
Legal Obligations
18
There are a number of legal obligations that govern the letting of
residential property to which all landlords must comply. Below is a summary of
the regulations that will need to be complied with.
For a more comprehensive guide please see our terms and conditions.
Gas Safety CertificateIf the property has a gas connection it is a legal requirement for the landlord
to have an annual gas safety certificate carried out by a certified Gas Safe Reg-
istered engineer. Certificates must be provided to the tenant within 28 days of
the expiry of the previous one.
Electrical SafetyThe Electrical Equipment (Safety) Regulations 1994 require that any electrical
appliances left in a property are safe. Landlords are required to ensure that all
electrical equipment will not cause death or injury to people or damage the
property. All equipment should be properly insulated and earthed and
protected by suitable fuses.
Smoke Detectors All properties built after June 1992 are required to have mains operated smoke
alarms on each floor. Whilst no such legislation applies to older properties we
recommend that you provide smoke alarms and a carbon monoxide detector
in any property that is going to be let.
Energy Performance CertificateFrom 1st October 2008 it is compulsory for all properties that are to be rented
out to have an Energy Performance Certificate. Landlords are required by law
to obtain and make available a copy of the certificate to prospective tenants.
The EPC is valid for 10 years.
19
Furniture and Furnishings RegulationsWhen you let your property you must ensure that all furniture in the property
complies with the above Act. These regulations apply to sofas, beds, bedheads,
covers for furniture, cushions and pillows and other items. They do not apply
to carpets, curtains or bed linen and duvets. Furniture manufactured before
1950 is exempt from regulations. All furniture manufactured after 1983 should
comply and carry the necessary labels.
Houses in Multiple OccupationThe Housing Act 2004 defines a House in Multiple Occupation (HMO) as
accommodation occupied by more than one household who share amenities.
Therefore three or more unrelated persons sharing would bring a property into
the definition of an HMO. These tenancies would need to adhere to legislation
as determined by the local authority.
Consents to Let
Before letting your property the following should be considered:
When the property to be let is subject to a mortgage, permission is normally
required from your lender.
If your property is leasehold you will normally require the consent from you
managing agent or freeholder.
Insurance companies will need to be notified of your intention to let the prop-
erty.
All landlords listed on the deeds will need to confirm that they are happy to
rent the property.
Overseas Landlords
Even if you do not live in the UK, under the Income and Corporation Taxes Act 1998 you
are still liable to pay UK tax on the rent that you receive in this country.
Under the Finance Act 1995 landlords must apply for an exemption certificate, permitting
rent to be paid to the Landlord without deduction of tax. Only the Landlord can make the
application which, if granted, will be issued directly to Coopers Lettings (or the Tenant if we
do not manage the property). Application forms can be obtained from Coopers Lettings
upon request. Non Resident Landlords (NRL) are persons who have UK rental income and
whose “usual place of abode” is outside the UK (six months or more).
Until an exemption certificate is received Coopers Lettings are legally obliged to withhold
tax at the basic rate from the net rental income. Where Coopers Lettings do not collect the
rent on the Landlords behalf, Landlords have a duty of care to advise their tenants to make
this deduction. Where the property is jointly owned by two or more landlords (i.e. husband
and wife) separate approval must be provided. Approval letters can take several weeks to
be returned to us by the Inland Revenue so it is advisable that these are completed at the
earliest opportunity.
20
Testimonials
I have been letting my house through Coopers for over a year. As a non-resident landlord, I need a
highly professional letting service that covers all eventualitities. I have seen that they go the extra mile
to ensure that the leting process is trouble free. They are prompt with information, helpful with
queries and are excellently organised. I would highly recommend them to anyone who wants to let
their property with the minimum of fuss. Jo Besford
Jason was efficient, courteous, prompt and extremely helpful. He was easy to get in touch
with and very professional. The letting experience with Jason was better than we had
anticipated. Dug Gentry
I have had a very good, and ongoing excellent experience dealing with Coopers Residential. They
have been unfailingly pleasant, attentive and thorough. I'd particularly single out Lewis and Guido
for top marks. Pat Holden
I wanted to praise the exceptional service, professional conduct and personal attention shown to my
partner and me throughout the letting process. I must admit, I would be the first one to call you
up or email if I thought that we received sub-par service, so I think it is only fair to do the same when
someone has gone above and beyond. Jeremy Hannay
I would like to thank Lewis for all his efforts in trying to find a flat in the Ruislip/Ickenham areas for
my wife and I. I really felt he offered better customer service than all the lettings agents in the area
by taking on board what I was looking for, and keeping me informed on a regular basis of any new
properties. If I ever have to rent another property in the future, Coopers will be the first letting
agents I will contact. Martyn Croston
Jason, you’ve restored my faith in estate agents. You’re an absolute star. Thank you. Kellie Hart
A brief, belated email to express my thanks for the way in which you and your team handled the
recent tenant-finding activities for my apartments at Didcot House, on my behalf.Perhaps you could
pass on my thanks to Jason and Jayde for their good work also please. Stewart O’Malley
21
www.coopersof london.co.uk
Coopers Residential
126-128 High Street
Ruislip
HA4 8LL
t. 01895 625625
Coopers Residential
71 Victoria Road
Ruislip Manor
HA4 9BH
t.01895 677400
Coopers Property Management
279a High Street
Uxbridge
UB8 1LQ
01895 257961
Coopers Residential
279 High Street
Uxbridge
UB8 1LQ
t. 01895 257566
Coopers of London
22 Cleveland Street
London
W1T 4JB
t. 0207 868 8621
Coopers Residential
109 Hillingdon Hill
Hillingdon Village
UB10 0JQ
t. 01895 230103
