INFORMATION FOR LANDLORDS AND TENANTS

INTRODUCTION

Home from Home Property Management Services - founded more than 25 years ago - is an independent, well-established company specialising in the letting and management of residential properties in North West Kent.  It is run by people who have the experience and expertise to offer a quality service to give you peace of mind.

Home from Home is a fully-bonded member of ARLA (Association of Residential Letting Agents).

INFORMATION FOR LANDLORDS

SERVICES AVAILABLE

• Full management.
  
  
• Letting only.
  
  
• Specific services tailored to your requirements - for example, rent collecting only or regular empty-property checks.

FULL MANAGEMENT 

• Finding tenants.
  
  
• Ensuring tenants' references are cleared.
  
  
• Giving information about insurances – buildings, contents, rent Protection and legal protection.
  
  
• Drawing up a tailored Tenancy Agreement.
  
  
• Preparing an inventory - just as important for a furnished and unfurnished property.
  
  
• Receiving the rent and deposit.
  
  
• Making quarterly inspections during the period of any tenancy.
  
  
• Carrying out a detailed check-out at the end of the tenancy.
  
  
• Organising repairs - under instruction from the client.
  
  
• On a regular monthly basis, paying the balance of your account with Home from Home directly to you.  This is either by cheque or BACS.
  
  
• Holding tenants' deposits as a stakeholder under the Tenancy Deposit Scheme (see 'Additional Information').
  
  
• Arranging for service meters to be read at the commencement and termination of tenancies.  The accounts will be transferred into the name of the tenant so that she/he is directly responsible for payment.
  
  
• Organising for final accounts to be paid on behalf of the client.
  
  
• Ensuring the Council Tax is transferred into your tenant’s name. 

LETTING ONLY

This service includes:

• Finding tenants.
  
  
• Ensuring tenants' references are cleared.
  
  
• Drawing up a tailored Tenancy Agreement.
  
  
• Receiving the first month's rent and deposit and ensuring cheques are cleared.
  
  
• Holding tenants' deposits as a stakeholder under the Tenancy Deposit Scheme (see 'Additional Information').
  
  
• Payment of balance of rent to you after all agreed charges have been deducted.
  

HOME FROM HOME CHARGES  

1.                   Full management

Home from Home's commission is 14% of the gross rental payable during any period for which the premises are let (plus Tenancy Agreement and inventory charges – see information later).

2.                  Letting only

50% of first gross monthly rental received (plus Tenancy Agreement charge - see over page).

3.                   Portfolio of properties

If Home from Home is instructed to manage a number of properties on behalf of a client then a reduced percentage is charged as follows:

a)       Full management - 10% of 12½% (plus Tenancy Agreement charge).

b)       Rent collection only - 7½%.

4.                   Inventories        

Creation cost - £80 minimum.  If the inventory takes longer than three hours to compile, an hourly charge is made for additional hours.

Check-out cost - £70 (paid by the landlord unless the tenant leaves the premises before the end of the Agreement).  If a check-out takes longer than three hours, an hourly charge is made for additional hours.

5.                 Tenancy Agreement

£75 per set of Tenancy Agreements - one copy for the tenant and the landlord's copy to be held on file by Home from Home.

6.                 Hourly rate

£30 per hour.

7.                 Advertising

There is no charge for circulating property details to financial institutions, local companies, schools, embassies, initial advertising in the Press, as well as the extensive advertising Home from Home Property Management Services does on the internet, including its own web site.

8.                Other services

Details of charges for re-registering rents, garage rental and such like can be supplied on request.

All charges are subject to VAT.

BEING A FULLY-BONDED MEMBER OF ARLA

In addition to Professional Indemnity Insurance cover, Home from Home has cover under the ARLA Bonding Scheme.  This indemnifies ARLA - and its members - in the event of fraud and dishonesty on the part of any principal or employee of a member, which results in pecuniary loss to a member of the public and which cannot be recovered from a member's professional indemnity policy or other bonding arrangement.

ADDITIONAL INFORMATION

1.         The Tenancy Deposit

Home from Home Property Management Services is a member of the Tenancy Deposit Scheme, which is administered by The Dispute Service Ltd, PO Box 541, Amersham, Buckinghamshire HP6 6ZR, Telephone 0845 226 7837, E-mail deposits@tds.gb.com or Fax 01494 431 123.

Home from Home Property Management Services holds the tenancy deposit, as a stakeholder, under the terms of the Tenancy Deposit Scheme.

2.         Insurance

Home from Home Property Management Services is an appointed Introducer for Endsleigh Insurance Services.  Their products include rent guarantee insurance, as well as landlord's buildings, contents and home emergency.

INFORMATION FOR PROSPECTIVE TENANTS

ADVICE TO PROSPECTIVE TENANTS – RENTAL COSTS

•  Once viewed, a holding deposit of 10% of the rent is required ‘up front’ to secure a property for you.
  

• There is then an administration charge of £65 plus VAT per prospective adult tenant and, where appropriate, for a guarantor. Letsure is used by Home from Home to seek clearance for your credit rating and full reference clearance.  

• If tenants have a satisfied County Court Judgment, then they will need a guarantor, as well as a certificate or letter of satisfaction from the relevant court.  If a prospective tenant has an active CCJ, then this cannot be accepted – even with a guarantor – unless the landlord does not want the rental protection insurance.  If tenants do not earn jointly thirty times the rent as an annual salary - for example, 30 x £500 = £15,000 per annum – then a guarantor is required.

• On the day you move in, the following sums, in cleared funds, are due:
   
  a)         One month’s rent in advance.
  
  b)        The full deposit, less the holding deposit.
  
  

There are no other charges to tenants.

[Updated January 2008]