D&G Property Management Service
The London lettings market is highly competitive with the demand for rental property ever increasing, meaning we have exceptionally high levels of professional tenants and corporate lets which we have to provide for. The increase in demand has resulted in significant rent increases on a yearly basis. Because of the increase in rents and the competitive nature of the lettings market tenants are expecting and seeking more out of their tenancy, tenants are especially looking for professionally managed properties and more security within their tenancy.
Professional tenants and Corporate lets have very high expectations from their tenancies and properties and it is important that this is catered for, here at Davis & Gibbs we have a dedicated Property Management team that specifically deals with all managed property matters; they are here to take away any hassle’s or issue’s that may arise during the tenancy whether it is rental arrears, maintenance issue’s, email correspondence or lengthy phone calls.
Davis & Gibbs offers three levels of service, the first and most straight forward service is ‘Let Only’ this service will consist of full marketing of the property (local and web), securing you a tenant (s), referencing tenants and dealing with any renewals at the end of the tenancy.
The second service we offer is ‘Rent Collection”, this service is similar to that of our Let Only service with the addition of us managing all rent payments ensuring that no payments are missed. The third and most comprehensive service is our ‘Fully Managed” service which covers:
- Property Inspections during the tenancy
- Managing property keys
- Over seeing any Maintenance of the property
- Ensuring that property legislations are met; EPC Gas Certificates
- Arranging Inventories / Check in & out
- 24 Hour call out service
- Tax Advice for Over sea’s clients such as NRL1 forms
Inventories (Check In & Out Reports)
We always recommend that check in & out reports are carried out by a third party, this report is a vital key to any successful tenancy and management of any rental property, check in / out reports ensure tenants rightfully get their deposits returned and Landlords are able to monitor the condition of their property and carry out any repairs as and when they occur with out any lengthy disputes.
- The inventory document – this is a written report detailing the fixtures and fittings in a property. Providing there are no major changes to the property or its contents from one tenancy to another, the inventory may be used for successive tenancies.
- The check-in report – this is a separate report drawn up against the inventory which details the specific condition of the fixtures, fittings and of the property generally at the very start of the tenancy.
- The check-out report – this is the report drawn up at the very end of the tenancy detailing the condition and contents against the original check-in and inventory to assess any damage or dilapidations (aside from fair wear and tear) that may have taken place during the tenancy.
Tenancy Deposit Scheme
As of April 2007 the tenancy deposit scheme legislation was passed by Government this comes into affect for all AST (Assured Shorthold Tenancies) the landlord must register the deposit with a recognised government “Tenancy Deposit Scheme”. Some benefits of this scheme are:
- Ensures the tenant (s) receive their deposit back minus any agreed deductions which are in accordance with check out reports.
- Landlords can confidently and fairly deduct any costs for damages (as per inventory)
- Promotes better care of the property
There are three deposit schemes in place, we recommend an insurance backed scheme ‘My Deposits‘.
Landlords have fourteen days of receipt of the deposit to register it with a scheme and then provide the following:
- Which scheme is being used and full contact details
- Procedures for release of the deposit
When the tenancy expires the landlord has up to ten working days to return the deposit in part or full (subject to deductions).
If you have any enquiries about property management / letting process then please do not hesitate to contact a member of the Property Management team on 020 7820 7954.