|A landlord's income is dependant on keeping a property well maintained, both to protect the long-term value and to find the right tenant.
A well-managed tenancy is more likely to be renewed and many corporate tenants now insist on fully managed properties. By choosing Hudsons to manage your property you will free yourself from the stress and responsibility of maintaining a property and have more time for yourself.
Hudsons designated property manager visits our rental properties and enjoys a strong relationship with our landlords prior to and throughout the tenancy. This enables us to manage quickly and efficiently any necessary repairs. This saves money when dealing with the day-to-day complications that can arise when a property is tenanted.
So many of our clients choose to stay with us year after year and word of mouth recommendation continues to account for a great deal of our new business.
How we can manage your property
Whether you let your property through us or not, you may still use our property management service. As your property managers we will:
- Visit your property twice a year to make sure the tenant keeps it in a good condition. If we feel any work needs addressing, we will let you know
- Arrange day-to-day maintenance, redecoration and repairs on your behalf
- Offer advice on how to make the best of your property and enhance its value
- Transfer rent to your account when received from the tenant
- Supply documented accounts to keep you up to date on rent payments, any maintenance costs and help with your end of year accounts
Hudsons will ensure that the tax requirements for overseas-based landlords are complied with, and supply annual information to keep filing your tax returns simple.
Refurbishment projects are required from time to time. Money spent on property upgrades helps keep the capital value of your investment at its optimum level. We can arrange and coordinate refurbishment projects of any size. This service allows you access to Hudsons extensive network of consultants and contractors.
Ensuring client compliance with safety regulations is an important aspect of our job. Safety legislation changes frequently so we advise of any changes to regulation that may affect you or your property.
You may choose to include Rent Insurance as part of the management service. This is charged at our standard fee and will cover your legal expenses to assist in tenant eviction and pay any outstanding rent. More details of this insurance are available by speaking to our property manager
Our service is charged and calculated as a percentage of the rent and is charged monthly (unless the rent for the term is paid upfront by the tenant).
As established letting agents in central London, we are members of NALS, National Approved Letting Scheme and The Property Ombudsman for letting agents (OEA).
To find out more, please contact our property management team.
Tenancy deposit scheme
When tenancies expire there is seldom disagreement about the return of the deposit. However, on rare occasions there is causing delay and inconvenience to all parties concerned.
The Housing Act 2004 (Chapter 4, ss 212-5; & Schedule 10) makes provision for both the protection and return of tenancy deposits and the resolution of disputes over their return. All deposits taken for Assured Shorthold Tenancies must be covered by a tenancy deposit protection scheme, of which there are three.
We have chosen to join The Tenancy Deposit Scheme - an insured option. Every tenancy deposit, regardless of whether it is an Assured Shorthold, will be protected by this scheme.
How the tenancy deposit scheme works
In the event of an irresolvable dispute between landlord and tenant, either party (or Hudsons) may instigate adjudication with the ICE (Independent Case Examiner). This is to be done within 28 working days of the tenancy ending and ICE must be sent the following:
We are obliged to send the disputed value of deposit to ICE within ten working days of the dispute being registered whilst returning the undisputed amount to the relevant parties.
- The signed tenancy agreement
- Inventory and schedule of condition for both check in and check out procedures
- Evidence that the claimant has tried to negotiate a settlement
- Tenancy registration number and details (Assured Shortholds only)
Once ICE receives the documentation and deposit, the dispute will be arbitrated within 28 days. Once the adjudication has taken place the deposit monies will be distributed within ten days.
Where the value of the disputed deposit is £5,000 or more, ICE will not generally adjudicate, although they may do so at their own discretion and with the consent of the parties.
Alternatively the two parties may agree to submit to formal arbitration through the engagement of an arbitrator appointed by ICE, the cost of which will be incurred equally by landlord and tenant.
In the unlikely event you need to contact ICE, it is imperative that, prior to the tenancy commencing, a professionally prepared inventory and schedule of condition for the landlord has been arranged by us. This is to be signed personally by the tenant at both commencement and termination of lease.
What the tenancy deposit scheme costs
There is a nominal charge to the landlord of £10 per tenancy (plus VAT). There is no cost to the tenant.
- The deposit is fully protected and insured
- The deposit is returned promptly if there is no dispute
- In the event of a dispute it is a simpler alternative to court proceedings
- The property can be re-let whilst adjudication takes place
- There is a guaranteed reimbursement of loss if the dispute is found in the landlord's favour
- There is a guaranteed reimbursement of loss if the dispute is found in the tenant's favour
If you would like to find out more about The Dispute Service, please visit www.thedisputeservice.co.uk or call 0845 2267837.