What is Property Management?
Heaven Estate Agents’ Property Management service is designed to provide the support that many buy-to-let landlords need to ensure their rental properties are being looked after, actively managed and any problems are dealt with efficiently and professionally. From sourcing tenants to dealing with a maintenance issue and collecting rent payments, we will step in on your behalf and deal with these matters, only consulting with you if there is a more specific concern that warrants your attention.
What services are included?
Depending on the level of service you require, Heaven Estate Agents can tailor the service to match your needs. From a fully managed letting service, to our Guaranteed Rent scheme to a let only service and everything in-between, we are on hand to help. Read on to see what Landlord specific services we provide designed to help take the hassle out of lettings.
For all Landlords who chose to Let their property with Heaven Estate Agents, we will market your property to prospective tenants looking for a new home. This includes professional photographs, listing your property on the Heaven Estate Agents’ website as well as market-leading property portals Zoopla and On The Market. We are also active across social media, including Facebook and our recently launched Instagram channel where we will share details of your To-Let property to our audience of engaged followers. As well as using digital channels, we will also reach out to our active prospective tenant database where we’ve been known to let many of our rental properties before the property has been marketed!
We will manage all viewings, (these can be done face-to-face or virtually) and handle the process of securing a new tenant on your behalf.
Additional Services and Charges
Alongside our Premium Management Service, we offer a comprehensive Full Management Service at 13% (15.60% including VAT) and a Rent Management Service at 9 % (10.80% including VAT). The following charges apply in addition to these service fees where relevant:
Property Compliance and Certification
- Professional Inventory Report – Arranged by us through an independent inventory clerk, from £144, depending on the size and furnishing level of the property.
- Check-In and Check-Out Reports – Independent clerk fees from £156 for check-in and from £156 for check-out, subject to property size and furnishing level.
- Electrical Installation Condition Report (EICR) – From £230 to £330, depending on property size.
- Energy Performance Certificate (EPC) – £144.
- Gas Safety Certificate (GSC) – £102. A combined boiler service and gas safety certificate starts from £190.
- Carbon Monoxide Alarm Installation – £60 for the first alarm and £30 for each additional alarm. When installed alongside a Gas Safety Certificate, the combined cost starts from £136.
- Property Licence Application Service – From £375.
Administration and Tenancy Services
- International Bank Transfers – £30 per transfer.
- Early Surrender of Tenancy – £360 administration fee where both landlord and tenant agree to end the tenancy outside the contractual terms.
- Non-Resident Landlord Tax Administration – £60 per quarter where we are required to deduct basic rate tax and account to HMRC on behalf of overseas landlords who do not hold an HMRC exemption certificate.
We also offer alternative management packages at 10% (12% including VAT) for Full Management and 8% (10% including VAT) for Rent Management. The following charges apply in addition to the fees outlined above:
- New Tenancy Administration Fee – £350. This covers tenant referencing, preparation of the tenancy agreement, deposit protection registration and provision of all required tenancy documentation.
- Renewal Fee (Non-Housing Act Tenancies) – £240. Covers contract negotiation, tenancy renewal documentation and deposit re-registration where required.
- Rent Review Fee – £240 for serving a Section 13 Notice during a periodic tenancy.
- Tenancy Assignment or Variation – £240 administration fee for changes to tenants or tenancy terms.
- Additional Keys – £20 per key.
- Additional Property Inspections – £100 per visit where required under property licence conditions.
- Section 8 Notice Service – £240 administration fee where notice is required for property sale, occupation by a family member, or reletting to students.
All prices shown include VAT unless otherwise stated.
Rental Income Protection
To provide landlords with additional peace of mind, we have partnered with a leading provider of rent and legal protection services. Once a prospective tenant has successfully completed referencing, landlords can benefit from enhanced protection against rent arrears and tenancy breaches.
Key benefits include:
- Cover for major breaches of tenancy.
- Missed rental payments until vacant possession is obtained, or for up to 24 months, whichever occurs first.
- Up to three months of rental payments at 75% of the monthly rent following vacant possession while replacement tenants are secured.
- Legal expenses cover of up to £100,000, including possession proceedings and tenancy-related disputes.
- Recovery of backdated rent following a tribunal decision.
- Greater financial security and reduced risk for property investors and landlords.
The cost of this protection ranges from £36.50 to £100 per month per tenancy (including VAT), depending on the tenancy profile.
