What makes Network Property Management Ltd different?

We specialise in lettings and management and have a detailed knowledge of the buy to let sector including property portfolios and property investment. The Directors each have a vast amount of experience in property, estate agency, property finance and building maintenance.

We believe that good property maintenance management is the key to harmonious Landlord and Tenant relationships, responsible occupancy and minimal void periods. To this end, Network Property Management has a Project Director, with over 35 years in building maintenance, dedicated to keeping your property in optimal rental condition.  In the event that a new tenant needs to be found, it follows that a well presented and maintained property, in a good decorative order will let far quicker than a poorly maintained property.

In addition to offering routine property repair services, we have the experience and ability to offer and organise property refurbishments of any size.

Our lettings department comprises of our Lettings Director and a team of mature staff dedicated to all aspects of letting and property management, many of whom are landlords themselves. We use the market leading property management software to assist us in providing a top quality letting service.

Why choose Network Property Management Ltd?

• We understand the importance of maximising tenancy occupation and minimising costs
• Maintenance issues are resolved quickly and efficiently
• Important matters are not delegated to junior staff
• Landlords are kept fully informed on all property matters
• We only use our in house maintenance team and approved contractors
• Most of the directors and most of our staff are Landlords ourselves!

Where do we operate?

We offer a full management service to both private landlords, with single properties or portfolios, and to companies.  Our Letting and Property Management Service operates in Lancashire and Cheshire including metropolitan Manchester and Liverpool.  In the South East, including Metropolitan Kent, we operate a full Property Management and Building Services operation. Please contact us to see if your property is within our area.

What Service do we offer?

As a company that has built a reputation on providing a quality property management and maintenance service, we offer a letting and full management service only. Our service comprises:

•  Rental valuation – advice on the current rental value of your property/properties
• Preparing a report on the condition of the property, highlighting issues that may affect the ability to find a tenant or affect the intended level of rent
• Marketing the property to find suitable tenants including a full referencing service, and preparation of tenancy agreements
• Advising utility companies of the new tenants details (gas/electric/water/council)
• Organising the security deposit and its protection under a Government approved scheme (Housing Act 2004)
• Preparing inventories, both check in and check out
• Periodic Inspection Visits, focusing on the condition of the property, how the tenant is looking after it and ensuring compliance with the terms of the tenancy agreement and the property insurance
• Liaising with the tenant on a routine basis
• Dealing with the necessary insurance claims
• Collecting rent and organising payment direct to Landlords
• Taking appropriate action in the event of Tenant arrears
• Provision of a full building and maintenance service, including using our in-house teams or supervising and signing-off work from outside contractors

Marketing
 
 Details of your property will be:

• Advertised on the internet and the Network Property Management Ltd website
• Matched to all clients on our applicant database
• Subject to your agreement and in order to find tenants for your property more quickly, we may ask local agents to provide a “tenant find “service only. Prospective tenants then undergo our ful referencing procedure
• We will arrange for appropriate “To Let” boards to be installed at the property

All prospective tenants will be required to complete an application form with references and credit checks undertaken for all cases. We will guide you in the acceptance of tenants who are on Housing Benefit or wish to keep pets. Frequently landlords choose to avoid such tenants but on occasions it can be that such people make very good tenants, especially if they are a stable family.
 
Rent

When we initially assess a property, we will indicate what we believe to be a realistic rent.  Prospective tenants usually accept this figure but there may need to be some room for negotiation. NB: If a Housing benefit tenant is accepted, the benefit awarded may fall short of our assessment of market rent. In such circumstances, the tenant will be responsible for the difference.

Tenants and Tenancies

Finding the right tenant for the property is essential and whilst we can’t see into the future to determine which tenants will suffer a detrimental change in circumstances, what we must try and do is avoid “ the won’t pays”; the professional non-payer.
 
We start the tenant find process by establishing, with you, criteria for the sort of person you wish to occupy your property. We then match this profile to prospective tenants, who will be referenced using a professional referencing service (at no cost to you).

The tenant checks will look at:

• A six year address history
• Searches for Bankruptcy and CCJs
• Searches for defaults
• Search of the Delinquent Tenant Database
• Bank account validation check
• Income/salary validation

Only after receiving satisfactory references will we recommend that you sign a tenancy agreement.
 
Where a guarantor is deemed necessary, for example where credit score is low due to rental history, the guarantor reference report will look at exactly the same crucial areas relating to financial standing. 
 
Before the start of a tenancy, we will carry out an inventory along with a brief description of condition and photographs. Photographic evidence of condition is essential should there be any dispute at the end of the tenancy.  Therefore, access will be required to the property in its ready condition 1-2 weeks before occupation.
 
Tenancies usually start with an initial 6 month fixed period, under an Assured Shorthold Tenancy (AST).
 
At the three month point, we will seek your views on continuing the tenancy beyond the initial six month term.  If you intend not to do so, we must have your written confirmation without delay as a statutory notice must be served and implemented. If you want to continue the tenancy, you need do nothing, as the tenancy will continue as a Statutory Periodic Tenancy, with all the terms and conditions of the original agreement still prevailing.

Deposits

From 6 April 2007 a deposit taken from a tenant by a Landlord or Letting Agent under an Assured Shorthold Tenancy, must be protected by a Government authorised tenancy deposit scheme.

Network Property Management Ltd use The Deposit Protection Service. This scheme holds the deposits in a Government backed fund. It is free to use and therefore no cost is passed on to the Landlord.  As Agents we simply put the deposit into the scheme at the beginning of each tenancy.

Emergency Repairs

To help us to deal with emergencies we ask landlords for agreement that Network Property Management Ltd can authorise a repair up to a cost equivalent to one month’s rent should a serious fault occur and we are unable to contact you.  If work is required that exceeds the agreed limit, confirmation will be sought from the landlord prior to work commencing.

Safety Regulations

The Gas Safety (Installation and Use) Regulations 1994, 1996 and 1998, make it mandatory for all  gas appliances to be maintained and kept in a safe condition at all times.  You are required by the Regulations to ensure that all gas appliances are maintained in good order and that an annual safety check is carried out and a gas safety certificate issued. A certificate will need to be in place before a new tenancy starts and maintained continuously during an existing tenancy. We are happy to arrange this if you cannot provide us with one.

Electrical Equipment

In relation to electrical equipment including cookers etc supplied by Landlords in rented property; the Electrical Equipment (Safety) Regulations 1994, apply. This puts a duty on the landlord and his agent to ensure that all electrical equipment in a rented property is safe. Safe means that there is no risk of injury or death to humans, pets or risk to property. Again, we are happy to arrange this for you.

Fixed Electrical Installation

A landlord is required to provide a tenant with an electrical installation in good condition and repair. As a landlord, you have a common law duty of taking care of your tenant; however the following statutes apply in one situation or another.

Unlike the Gas installation and equipment regulations which require by law an annual, gas safety certificate, the law regarding the existing electrical installation within the property is less clear ( except HMO’s). The law does not compel an annual electrical certification; however the following legislation applies to the fixed electrical installation in a rented property:

• Health and Safety at Work Act1974
• Landlord and Tenant Act 1985
• Consumer Protection Act 1987
• Electrical Equipment (Safety) Regulations 1994
• Building Regulations 2000

Landlords should ensure that the electrical installation (fixed wiring, etc) is maintained and in a safe condition throughout the tenancy. Severe penalties can apply for various breaches of the regulations and if death or serious injury occurred as a result of your duty of taking care of your tenant; a charge of manslaughter could result. Where accommodation is furnished or part furnished it must comply with The Fire and Furnishings (Fire Safety) Regulations 1988, 1989 and 1993 and must be checked. Any non compliant articles must be removed before the tenancy commences.

Failure to comply is a criminal offence and could lead to imprisonment and/or a fine.

As a Landlord you have a duty of care to your Tenant(s).  We recommend that smoke alarms and carbon monoxide monitors (where applicable) should be fitted in all rental properties.

Network Property Management Ltd take safety very seriously and will not proceed with moving a tenant into a property until all the necessary checks have been carried out. We have negotiated preferential rates for our clients  – please ask for details.

Energy Performance Certificate

From 1 October 2008 it is necessary for all rental properties to have an Energy Performance Certificate at the commencement of a new tenancy.  The certificate will last for a maximum of 10 years.  We have negotiated preferential rates for our clients  – please ask for details.

Routine Visits
 
Routine visits are made approximately every six months to all tenanted properties under the Full Management service. We will visit more regularly if you request this  but there will be an additional charge. Once a property is tenanted you have an obligation to ensure it is well maintained Under the Landlord and Tenant Act 1985 and a raft of other legislation. 
 
Regular visits to the property allow us to inform you of issues needing attention as soon as possible, if the tenant has not already informed us, and demonstrate due diligence should the need ever arise. However, as already expressed, property maintenance is the key to good landlord and tenant relations.

Utility Services

The utilities become the responsibility of the tenants from the day they move into the property.  To facilitate this we take electric and gas (where applicable) readings at check in and as a courtesy forward a letter to the utilities companies informing them of the new tenants details.

Mortgages

If the property is mortgaged, it is necessary for you to obtain the consent of your building society, bank or lender before placing a tenant in the property. If of course your mortgage is already recognised by the lender as a buy-to-let mortgage this will not be necessary.

If you require mortgage finance, we recommend you contact Enhanced Wealth Limited (an associated company) who can offer a professional whole of market mortgage advice service.

Enhanced Wealth Limited
Freephone 0800 316 5756
www.enhancedwealth.co.uk

Insurance

We offer a tailored block buildings insurance policy to our landlords, with advantageous terms and conditions (please ask for current terms and conditions). You are, of course, free to obtain your own insurance cover. If you are doing so we will require to see details of the policy.
 
Empty Property

For a landlord, an empty property means no income so it is vital that the property is re-let as quickly as possible. Voids have an insurance consequence and many insurance companies will reduce or remove cover whilst a property has been empty for a certain period. We will endeavour to visit the property regularly to inspect its condition and security but cannot guarantee set times for this. The frequency of this visit may be stipulated in your insurance policy. If you would like us to make regular visits to the property please advise us as there will be an additional charge. It is the Landlords responsibility to make sure the insurance company is aware that the property is empty.

Keys

We would normally require three sets of keys to the property – two sets for the tenants on occupation and the other to be retained in our office for emergencies and routine visits (where applicable). Note:  if you wish to collect these keys at any time you must bring proof of identification as a security measure.

Tax

Income received from renting any property is subject to UK income tax and you should take advice from your accountant regarding this. With Overseas Landlords, we are legally obliged to deduct tax unless a copy of an exemption certificate from the Inland Revenue is supplied  Then we can send the gross rent money to yourself, without a deduction for tax. 

Accounting

All monies received from Landlords and Tenants are paid into Network Property Management Ltd’s letting account. Deposits are not held by ourselves but are passed to the Deposit Protection Service.
 
Additional Information

Before making a detailed inspection of the property, we will require the following information:-

• Your correspondence address
• Details of a UK bank account
• Proof of ownership
• Details of your property insurance
• Name and address of a UK representative if you are living overseas
• Completed Property Information Sheet
• Completed Landlord Terms of Business

Any Questions?

This information is intended as a general guide only. Should you have any more specific questions please do not hesitate to call us on 0845 371 0267.

Scale of Fees

Initial Set Up Fee NIL
Subsequent Lets NIL
Monthly 12.50% of rent + VAT

 

 
This information has been prepared in good faith and to the best of our knowledge and belief, was correct at the time of going to print. Copyright Network Property Management Ltd 2009