Management Guide
Want to make money as a landlord, without the hassle of dealing with the day to day issues? We hear you.
Estates East offers 2 main levels of service, depending on how involved you want to be.
Are you new to letting? Living overseas? Busy living your best life, but still want your business running like clockwork and maintaining its property value? Then the Full Management Service could be for you.
"Estates East have been managing our property in Walthamstow for almost a decade. They have always been very responsive, professional and taken care of everything in a no-fuss manner, I’d recommend them"
Katie Gutteridge
If you already have proven success as a landlord, and you’re well-placed to deal with the day to day maintenance, legal and regulatory management involved, the one for you might be the Basic Management Service.
There’s also a flexible option to take the Basic, but add some of the more time consuming management into your package—such as dealing with rent arrears. Alternatively if you want to take on the role of agent yourself (you sure?), you can do Let Only: where we find you suitable tenants and nothing more.
Full Management Service
- Advice on rental income
- Marketing the property until the right tenant is found
- Viewings
- Tenant’s reference checks: credit search / employer’s reference and previous landlord’s reference
- Negotiating the terms of tenancy between landlord and tenant
- Preparing tenancy agreement and arranging all signatures
- Creating an inventory and property schedule of condition
- Arranging deposit through deposit protection service
- Collecting rent and forwarding net rents to landlord’s bank account
- Chasing late or non payments of rent
- Preparing and submitting monthly and yearly statements
- Arranging electricity gas & water through local councils, and meter readings and transferring service contracts to every new tenant
- Making sure all contract T&Cs are upheld by all parties
- Ensuring a gas safety certificate is carried out annually during the tenancy
- Regularly visiting your property to check on its general condition
- Renewing the Agreement at the end of the term
- Making payments on behalf of the landlord from rents received for costs in managing the property
- Dealing with any non-resident landlord tax
- Carrying out a full property inspection and inventory check at the end of the tenancy and dealing with any matters relating to unfair wear and tear before arranging for the release of the tenant’s deposit
- Dealing with all repairs and maintenance
We oversee any essential repairs and advise you of any improvements needed. And unless you have preferred suppliers, Estates East will use our trusted group of pro contractors.
Accounts will be settled from rents received
Basic Management Service
- Advice on rental income
- Marketing the property
- Viewings
- Tenants’ reference checks: credit search / employer’s reference and current landlord’s reference
- Negotiating the terms of tenancy between landlord and tenant
- Preparing tenancy agreement and arranging all signatures
- Collecting the first month’s rent and security deposit (must be held within an approved scheme). Proof of this to be shown after registration
- Monthly rent collection
- Deposit, registry & management
Additional services available to add
- Preparation of an inventory and schedule of condition, prior to the tenancy
- Registering the deposit with the Deposit Protection Service
- A full property inspection and inventory check at the end of the tenancy and dealing with matters relating to unfair wear and tear before arranging for the release of the tenant’s deposit
- Void property management
We’ll always aim to have a new fully vetted tenant waiting to occupy your property as soon as the previous tenant has vacated. However, on the occasions when this doesn’t happen we can continue to manage the property for you, taking care of general maintenance, any refurbishment work you may want to do and also dealing with utility bills and mail. This service is also especially useful if the property is intentionally left empty for a period of time before an owner re-occupies it. - Legal
There’s a lot of legislation attached to tenancy agreements. It’s reassuring for you to get professional guidance. We’ll make sure you meet your obligations under the 1985 Housing Act to keep the property safe and in good working order. We can also help you avoid any issues over building regulations, data protection or distance selling. - Key care
Our management team retains a set of keys throughout the tenancy. They’re kept securely in a central location and only made available to authorised contractors following confirmation from both landlord and tenant. Usage of keys is monitored on a logging system. - Project management
Refurbishment, especially when the property is empty, benefits greatly from on-the-spot project management, to keep your budget and timescale on track. And if your proposals are unrealistic, we’ll do you the service of saying so, we want you to avoid losing money.
We have a local list of the best contractors: architects, structural engineers, builders, specialist trades, carpet fitters and interior designers who we work with regularly. All ready to go.
There’s a lot to think about, but we’re here for you,
And we’re never too busy to help
Call: 020 8520 9300