SERVICES WE OFFER

Our ethos at Latham Smith is driven by our desire to offer the very highest levels of customer service whilst being friendly, professional and approachable. We want to deliver outstanding results in the area that we know so well.

Let Only

Let Only Service

Finding a new tenant is just the first stage of what makes for a successful tenancy. At Latham Smith we understand the importance of providing a proactive and comprehensive service that ensures our client – you, the landlord, is as protected as possible, whilst maximising your return on what is probably your biggest asset. Treating your tenants courteously and professionally throughout the process is of paramount importance to us.

Our Promise to you

We will find you tenants to move into your property that we would be happy and comfortable to have in our own home.
Once your tenant has been approved for referencing, you will be given the opportunity to purchase a 12-month rent guarantee insurance policy, via our insurance partner, Alan Boswell Insurance Broker, which not only covers rental arrears, but also eviction and legal costs cover. To purchase cover please click on the following link at https://www.alanboswell.com/landlord-insurance/rent-guarantee/?utm_source=4740. Or for more information call 01603 216399.
Comprehensive tenancy agreements will be drawn up, signed by all parties and dated in accordance to strict guidelines.
We will ensure that all deposit regulations are adhered to. Amendments to the Housing Act 2004 took place on the 6th April 2007 when Tenancy Deposit Protection (TDP) came into force on all new Assured Shorthold Tenancies (AST’s) and stated that a landlord may no longer hold a security deposit on behalf of their tenants.

We will, on your instruction make arrangements for a professional inventory & check in prior to a new tenancy commencing. At the end of the tenancy, the inventory clerk returns with the in-going report and a final thorough check of the property is carried out and a check out report is produced highlighting any changes. Common issues that arise include dilapidations, damage, cleaning issues and wear & tear. The cost of these reports are borne by you, the landlord.
IMPORTANT: If you choose not to have a professional inventory, it is exceedingly difficult to retain monies from your tenants deposit, which potentially could cost you more in the long run.
We will, on your instruction ensure that you hold all the correct safety records to comply with the strict safety laws governing landlords and their properties. These include an up to date gas safety certificate, legionella assessment, an electrical safety certificate, smoke alarms, carbon monoxide detectors and ensure that any furniture left in the property complies with the required fire safety regulations.
We will, on your instruction arrange for an Energy Performance Certificate (EPC) to be carried out prior to marketing your property, as this is a legal requirement when letting a property.

For our Let Only service, Latham Smith will ensure all is in place right up to the moment your tenant moves into the property. It is at this point that you take over responsibility for any maintenance issues, breakdowns and of course collecting the rent from your tenant.

Latham Smith will contact you prior to the end of the initial fixed term to discuss your options regarding the renewal of the tenancy and how the rental market is at that time or if your tenants are leaving. If the tenancy is ending, we can discuss the re-marketing of your property.

Our standard fee for our Introduction only service is 8% + VAT (9.6% inc VAT) of the annual rent.

Renewal Fee & Other Administration Costs

Renewal fees are charged at 6% + VAT (7.2% inc VAT) for any continuation of any existing tenancy. This includes the re-negotiation of rent and other key tenancy clauses and ensuring all legalities are updated and you are complying with any new legislation bought in.

Other costs involved in letting your property consist of:

Contract & Administration Fee
A comprehensive, legally binding tenancy agreement is crucial. We charge £180.00 + VAT (£216.00 inc VAT) for the drawing up of this document.

Referencing Fee

To carefully check references of every person over the age of 18 is vital for your security and to ensure only the highest calibre tenant moves in to your property. Referencing is charged at £45.00 + VAT (£54.00 inc VAT) per applicant, which includes Guarantors. This includes checking the Tenant has the legal ‘Right to Rent’ in the UK, employment & previous landlords are also verified at this time. More basic credit checks, which simply show up any bad credit that your tenant may have is charged at £30.00 + VAT (£36.00 inc VAT) per applicant.

Rent Guarantee Policy

Once your tenant has been approved for referencing, you will be given the opportunity to purchase a 12 month rent guarantee insurance policy, which not only covers rental arrears, but also eviction and legal costs cover. Prices are kept up to date by applying through the link at https://www.alanboswell.com/landlord-insurance/rent-guarantee/?utm_source=4740. Or for more information call 01603 216399.

Inventory and check-in/out report

Prior to a tenancy commencing, it is imperative that an independent inventory and check-in is carried out and again that this is checked at the end of the tenancy. Prices vary depending on the size of the property and whether it is furnished or unfurnished. Please ask us for prices.

Deposit Holding

To lodge the deposit in the DPS Insured Scheme, of which we are members, to supply to the tenant the relevant Prescribed Information and documentation and adhere to their rules and regulations, we will charge £30.00 + VAT (£36.00 inc VAT) per tenancy.

Energy Performance Certificate & Other Costs
There are various other checks and costs that may apply prior to your tenants moving in. Latham Smith will ensure that all legislation that applies to your property is met. Examples include; an Energy Performance Certificate is in place, a gas inspection has been carried out and all electrical items in your property are safe for purpose.

We charge £100.00 + VAT (£120.00 inc VAT) to arrange an Energy Performance Certificate on your behalf.

We charge £100.00 + VAT (£120.00 inc VAT) to arrange a Landlord gas safety certificate on your behalf.

We charge £225.00 + VAT (£270.00 inc VAT) to arrange a 5 year electrical condition report. Please note any remedial works required will be quoted for after the initial checks have been made.

We can of course, look after your property from beginning to end and all in-between, click on the Rent Collection or Fully Managed tabs to view our additional services.

Rent Collection

Rent Collection Service

This includes all of the Let Only service plus;

We will collect your tenants rent in accordance with agreed terms in your contract.
We will provide you with rental receipts, management fee invoices and statements, so you can easily and clearly see what money has been received, what deductions have been made, including any contractor bills, and what funds have been sent over to you. We will send these by email for speed and ease.
If your tenant is late in paying the rent, we will chase them verbally and in writing to obtain the funds as quickly as possible.
You will be notified of any delay in the rent being paid and the reason why it is late.
If there are continued delays we will inform you of your options and raise a claim on your rent guarantee policy (if applicable) on your behalf.

It is important to note that with our strict referencing process, it is unusual for a tenant to not pay the rent. Circumstances do change however, which is why we encourage rent guarantee to be in place and for a minimal annual fee, you will have complete peace of mind.

Our fee for our Rent Collection Service is 2% + VAT (2.4% + VAT) of the rent. This fee is taken monthly upon receipt of the rent. This fee is in addition to the Let Only Fee.

Full Management

Full Management Service

This includes all of the Let Only and Rent Collection services plus;

This is our all singing all dancing service. Latham Smith will look after every detail of your rental property as if it were our own.
We will have an emergency line available to your tenants 24 hours a day, 7 days a week, should an emergency arise at your property.
On checking in, the changing of details for gas, electricity, water and council tax will be handled by us. Meter readings will be updated on our system and the relevant providers will be informed of the new tenancy commencing.
We will arrange any maintenance jobs required at your property automatically (up to the value of £300). For any necessary works that are priced over this amount, you will be contacted prior to proceeding for your approval, unless you have instructed us otherwise, or if we consider it such an emergency that your tenants or property are in danger or their safety compromised.
We will carry out six monthly inspections of your property and report back to you on how it is being looked after.
We will automatically arrange your annual gas safety certificate and on your instruction, arrange the electrical certificates to ensure the safety of your tenants and ensure you comply to strict legislation.

Our fee for our Full Management Services is 4% + VAT (4.8% inc VAT) of the rent. This fee is taken monthly upon receipt of the rent. This fee is in addition to the Let Only Fee.

Call us on 01923 447192 & 01923 447195

SERVICES WE OFFER

Let Only Service

Our Promise to you

Rent Collection Service

Full Management Service

Enquire Now

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