We’re experts in the market, so we can tell you how other rental properties are doing in the area, and what kind of yield you can hope to achieve.
Choosing a fully-managed service allows you to completely relax. You never have to worry about the let. It creates a professional distance between you and the tenancy, and means you can avoid having to deal with all the bad bits like rent arrears and deposit disputes.
Landlords and letting agents are required to register tenants’ deposits with an approved agency. The Deposit Scheme is there to protect the tenant’s money and help to resolve any disputes at the end of the tenancy.
An inventory is a detailed list of the contents and condition of your property taken before the tenant moves in. It is important that if there is a dispute over damage at the end of the tenancy, you have proof of the original condition of the property and its contents.
An Energy Performance Certificate, or EPC for short, is a report detailing the energy efficiency of a property. It gives a property an energy efficiency rating from A (most efficient) to G (least efficient) and is valid for 10 years. All landlords are required to purchase an EPC for a property before they let it.
A Gas Safety Record (GSR) is in place to ensure that all gas appliances, pipes and flues are in safe working order. It must be carried out by a qualified Gas Safe Register Engineer. This needs to be checked every 12 months.
You are required to ensure that any electrical devices within the property are safe for use. We recommend an Installation Survey or Portable Appliance Testing (PAT) so you can be sure you are compliant.
We fully manage your property, so will organise for the tenant to pay the rent via standing order. We will then transfer the money to your account minus our commission and any outgoings or fees (such as maintenance work fees). You will receive a statement every month.
All landlords could be liable to pay tax on their rental income, whether they live in the UK or are based overseas. Further information can be found on the Inland Revenue’s website.
You need to give the tenant appropriate notice before you enter the property.
The tenant is responsible for the Council Tax (unless you decide to include this in the rent) but this needs to be clearly stated in the tenancy agreement. If the property is standing empty, it is the landlord’s responsibility to pay.
Either the tenant pays to fix the damage, or the cost for fixing the damage is removed from the tenant’s security deposit at the end of the tenancy. However, fair wear and tear should be allowed for.
The Property Ombudsman (TPO) is an independent body to which landlords can refer any complaint should the agent fail to address it to their satisfaction. We are TPO members.
No, completion can only take place after the Tenants have vacated as Lenders and Solicitors will not move to exchange until the property is empty.
Valuing your home has never been an exact science – there are many things to consider. The location, style and size of the accommodation are usually the most important factors, together with the condition of the property and any improvements that may have been carried out. We research recent sales in the area and take account of current demand for your type of property.
In 2004 the government extended the Anti Money Laundering Legislation requiring estate agents to verify the identity of their clients. This formality is conducted electronically with the minimum of inconvenience.
You will only be liable to pay our fees if we introduce a buyer who exchanges contracts. Estate agents have traditionally funded the cost of marketing property on a ‘No Sale No Fee’ basis. Our terms of business are based on the guidelines recommended by the Office of Fair Trading and will be confirmed to you in writing before we commence marketing your property.
Your estate agent should accompany all viewings, but you may decide that you’d like to be present as well. It’s entirely up to you.
We can depending on the service you opt for. Many owners prefer to leave keys with us for daytime viewing appointments, and we will always accompany potential purchasers. Keys are security coded and are never released without your prior authority to do so.
Not everybody has access to the internet and we are one of the few agents in the area who still support a comprehensive mailing system. We also keep in regular telephone contact with the most active buyers and viewing appointments are often arranged on the same day we receive your instructions to market your property.
Frequent communication between the agent and client is essential. We are both looking to achieve the same goal and will review market response with you regularly.
We will always endeavour to introduce a buyer as soon as possible, but it is important that we establish the buyers position with regard to funding and dependent transactions, as well as their ability to accommodate your ongoing plans.
Your buyers will usually expect you to remove the property from the market whilst they arrange for their survey and mortgage valuation. There are circumstances when it would be considered prudent to continue marketing the property, if for example the buyers dependent chain was incomplete, but we would always recommend informing the buyers of your intentions.
The law states that there is a duty on the person acting on behalf of the seller (meaning the estate agent) to be satisfied that an EPC has been commissioned before commencing marketing. If required we can assist you with the preparation of the EPC and this can normally be secured within a couple of days. If you have an EPC in place we will commence marketing within 24 hours of visiting your home.
First of all, you need to receive a valuation to find out how much your home is worth. We recommend asking at least three different estate agents to value your home. Ask them about the services they offer, the current state of the local market, and the purchase price you can hope you achieve. Make and plan and how this sits with your priorities and timescales.
Every sale is different. Both your situation and the buyer’s situation need to be taken into consideration before this question can be answered accurately. If your home has been realistically valued, you could expect to receive offers within the first four weeks. Then assuming your buyer has to apply for their mortgage the exchange of contracts normally takes between 4 and 6 weeks and completion takes between 2 and 4 weeks. So you can realistically expect the process to take 12-14 weeks to complete.
In England, all sellers are required to purchase an EPC for a property before they sell it. Estate agents must display the EPC rating whenever they market the property. If a property does not have an EPC when marketed the buyer and the agent risk a fine. This does not apply to Grade II Listed properties.
No. It is the buyers responsibility to pay Stamp Duty.
In England & Wales you do not need to arrange a property survey, but it is likely that the buyer will, and so a surveyor will arrange an appointment to visit you home. The five key things a surveyor will be look at to ensure there are no issues are: utilities, damp, cracking, problems with roofs, and timber defects. In addition, your buyer’s mortgage lender will organise a mortgage valuation to confirm that the property is worth the money you are borrowing.
The seller or the buyer can pull out of the sale at any time and for any reason until the point that both solicitors have received signed contracts from both parties, also known as exchange.
You are not required to leave any furniture or furnishings in the property, but you may agree to include some as part of the negotiations of the sale please make sure that you check what you have agreed before you leave.
In most cases you are only required to pay Capital Gains Tax if the property is not your main home.
No, there are no hidden costs.
Cherish Property are happy to market your property at the same time you are marketing with a high street agent; but we would highly recommend you check the details of your contract so you are aware of any extra charges you may incur from the high street agent.
No, the sales or letting packages offered by Cherish Property have no minimum term.
Yes, you can use your own photographs, however the photos must be representative of your property. We do provide the service of professional photographs as an optional extra. Cherish Property may delete photos we see fit.
Yes, you are free to market your property with another estate agent at any time although we advise you to read their terms and conditions.