Landlord Guide | Bakewell & Horner Estate Agents

Landlord Guide

“Bakewell & Horner has been one of the most highly regulated managing agents in Wirral since 1939. Over the years the business has successfully grown into the leading property management companies across Wirral & Liverpool.

Our goal has always to be the preferred agent of choice. The teams within Bakewell & Horner are experienced, qualified and time served to allow you to be more ‘hands off’ on your investments whilst we look after the day-today management.

We invest in modern technology to ensure management is efficient and pro-active whilst ensuring compliance and legislation is complete. I will continue to invest in our property management services so that each landlord and tenant receive the highest level of service available.”

— Russ Smith Company Director

Bakewell & Horner Estate Agents have been manging property for landlords for over 80 years. Our passion for property is reflected in the superior service we provide within our letting department.

The responsibility and liability ultimately falls on the landlord, even if you’ve handed the reigns to a letting agent to manage your property. Choosing the right agent is an important decision, but what exactly does a letting agent do and how can you find one that’s right for you?

We are a highly regulated and ensure that our firm follows all he latest compliance and regulations meaning you don’t have to worry about your property.

Bakewell & Horner are regulated by Propertymark ARLA

Propertymark ensure all their member agencies that handle client money are backed by a government-approved CMP scheme so you and your money are safeguarded. By using a Propertymark member you are guaranteed to be consulting with a professional agent who will give you up-to-date advice and guidance.

What is Propertymark Protection?

Propertymark Protection is a consumer protection scheme that provides financial protection, an independent redress scheme, and a code of practice for consumers who use the services of our members.

It ensures that members adhere to high standards of professionalism and ethical behaviour, and gives consumers peace of mind when dealing with Propertymark members. By using a Propertymark member, consumers can be assured that they are dealing with a professional who is committed to providing a high standard of service, and that they have access to a range of protections and recourse in the event that something goes wrong.

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You are backed by a Client Money Protection (CMP) scheme

Propertymark Protected agencies must hold client money in a separate client account which is independently inspected every year. In simple terms, CMP is a reimbursement scheme meaning your money is safe should an agent unexpectedly go bust or commit theft.

Your agency complies with a nationally recognised Code of Practice

To uphold our high standards, all members are obliged to comply with our Conduct and Membership Rules. Disciplinary hearings are arranged when serious breaches occur; a tribunal will consider the case and impose sanctions on the member if they are found to have breached our rules.

Your agency has professional indemnity insurance

This insurance provides cover for legal costs and expenses in claims resulting from negligence or breach of professional duty. It also covers any damages or costs awarded to consumers as a result of negligence.

Your agency has all the required registrations

We confirm our members’ registration with the Information Commissioner’s Office (ICO) who uphold information rights in the public’s interest, their registration with a Government-approved independent redress scheme, and we also check that our members are registered with HMRC for Anti-Money Laundering supervision.

The responsible agent holds a relevant property qualification

Individual propertymark members are also required to undertake training every year, this helps to ensure they are up to date with best practice and understand legislative changes which regularly alter the playing field.

What does Client Money Protection cover?

A landlord’s repair funds, rent, service charges and arbitration fees are all covered by CMP. If a tenant pays a deposit, it must be protected in a Tenancy Deposit Protection (TDP) scheme so the money is safe during that period.

Due to the existing TDP law, the new CMP legislation only needs to cover a deposit whilst it is with the agent, i.e. before or after it’s with the TDP scheme. Agents who don’t handle client money, (e.g. when rent is paid directly to the landlord) will still be able to trade without CMP. Government-approved CMP schemes.

Whilst it is compulsory for all agents handling client money to have CMP, rogue operators do still exist. Before handing over any money or confirming an agreement with a property agent, look for their CMP certificate and clarify with the company who provides the cover. Agencies must display their CMP certificate in branch and on their website.

Our Propertymark CMP scheme is one of the approved schemes and we inspect our members’ accounts annually. We will reimburse landlords and tenants up to a total of £15 million per year if the agent is part of our main scheme, or £35 million per year if they are part of our large corporate scheme. There is a maximum award of £50,000 per individual claim.

Letting agent services

Letting agents offer varying levels of service, so depending on how much you want to be involved with the property’s management, there will be a service level right for you. By law, they must display their service level fees in branch and on their website, so compare costs across a number of agencies. Although every agent is different, there are standard services most will use as outlined below.

Tenant Application

Usually a one-off cost, charged at around a month’s rent.

This is a basic service level where the letting agent will find you a suitable tenant. This usually entails taking professional photos, designing floorplans and advertising your property where it will gain the most traction. They may also arrange and attend viewings, conduct references and Right-to-Rent checks, set up the tenancy agreement. We can also create an inventory at an additional cost. With a tenant found and a move-in date established the rest is up to you.

Fully Managed

A percentage of the monthly rent at 10 per cent.

The letting agent takes full control of managing all aspects of letting your property, including the services offered under tenant find and rent collection. They will correspond with the tenant throughout the tenancy, organising maintenance, inspections, check-in, check-out and any deposit disputes.

Inventory

Before each tenancy, a full inspection is made and an inventory completed, where necessary, and retained by the department for future reference. This will be completed for each tenancy.

When the tenant vacates the property, a final inspection is made and any outstanding matters noted. If we feel that the property has not been left in good and tenantable order, the tenant is given the option to return to the property to put matters right. Failing this, the cost of any works can be deducted from the deposit upon agreement. Should a satisfactory agreement fail to be reached the matter will be referred to The TDS for them to arbitrate.

Inspections

Internal inspections are undertaken on a regular basis and at our discretion. You will be informed of any problems that arise following these inspections.

Repair work

Liability remains with an owner to maintain the fabric of the property and there are aspects of legislation regarding the maintenance of rental property. We can arrange for estimates for repair work to be carried out in consultation with an owner, although emergencies must be dealt with accordingly. If you have your own nominated contractor or wish to affect your own repairs, we would be happy to pass on any repairs as directed.

Tenant Finding

All applicants are required to fill in an application form, we complete full credit searches and affordability checks as standard. References are obtained from landlords, banks, employers as appropriate.

All tenants require a guarantor and, in all cases, a credit check is performed on the guarantor as well as land registry checks to ensure that guarantors own their home. All applicants are checked by us before submission to the owner for consideration. Tenants are usually required to pay a deposit which is the equivalent of five weeks rent.

The Tenancy Agreement

Assured Shorthold Tenancy Agreements in accordance with the Housing Act 1988 are legally binding documents. We will undertake the execution of the agreement and all Associated Notices on behalf of the landlord including Tenancy Deposit Certification, which renders the agreement legally binding.

From the landlords’ viewpoint, short or long lets are now possible, retaining the ability of obtaining possession when needed and from a tenant’s viewpoint they are able to remain fluid to move, for job purposes around the country for example.

Period of Tenancy

At any time after the fixed period, should a tenant wish to vacate the property, they are obliged to give 1 months’ notice in writing from the date that the next rent payment is due. As landlord, 2 months’ notice will need to be provided from the next day that payment of rent is due.

All landlords are required by law to protect any deposits taken for a tenancy within 30 days of receiving the deposit or within 30 days of the tenancy becoming an assured shorthold tenancy.

Once you have protected your tenancy deposit in one of our deposit protection schemes, TDS will issue you with your prepopulated PI. You must give this to your tenant (and any other person who contributed to the deposit) within 30 days of receipt of the tenancy deposit.

Should a dispute arise either mid-tenancy or end of tenancy we offer a resolution services. As a government approved provider of alternative dispute resolution, TDS offers both a free and impartial mid-tenancy mediation and conciliation service, TDS Resolution, as well as an end of tenancy dispute service. If there is no dispute, release the deposit within 10 working days.

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PropertyFile is an online login system, designed to connect you to your agent and tenant, providing you with all of the information you need to fulfil your responsibilities as a landlord and track your properties throughout the tenancies.

Account statements & Invoices

Keep track of your income and expenditure by viewing your statements and invoices online and use the information to help with your tax returns and other general queries.

Property Marketing Details

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Property Viewing Information

Keep track of your scheduled viewings and get feedback from previous ones.

Tenancy Information

Find all your tenancy information, including inspection dates, rent due, deposit details and tenancy documents.

24 Hours Access to Important Information

Get access to all your important documents and information, such as key tenancy dates and invoices.

Benefit from informed, responsible tenants

If your tenant spots a problem in their home, they can report it straight away through the PropertyFile app, going through the step-by-step process they will be given advice on whether the issue is their responsibility or something that needs reporting.

Rent Guarantee from a brand you trust

Peace of mind that you’ll receive your rent every month

Sometimes things don’t go to plan. Could you afford to miss out on your rental income if your tenant can’t or won’t pay their rent?

That’s where Rent Guarantee comes in.

16 months

Current average time from a claim to a landlord repossession. ¹

What’s included in our agency’s Rent Guarantee:

With Rent Guarantee you still get paid your rent when a tenant falls into arrears, with eviction and legal costs also covered. You get:

• Indefinite cover* – rent is paid in full until you get your property back

• An extra 50% of the rent paid for 3 months if the property can’t be re-let due to damages or neglect caused by the tenant

• Up to £50,000 cover for any one claim

• Legal costs paid for any breach of the tenancy agreement

• Market leading mediation service included to give you the best chance of getting your

• property back sooner (courts will always ask for evidence of mediation)

Eviction services saving you time and money

Protecting our landlords against the costs and hassle of the eviction process

Sometimes things don’t go to plan. Dealing with an eviction can be a costly and time consuming process. This is why we are improving our service to you.

16 months

Current average time from a claim to a landlord repossession.1

What’s included in our agency’s managed service:

We are including an eviction service far any serious breach ofthe tenancy agreement bythe tenant, including:

• Eviction for non-payment of rent

• Removal of squatters

• Expired Section 21 notices

• Market leading mediation service to g ive you the best chance of getting your property back sooner (courts will always recommend mediation is attempted)

Save an average of -E1,500in legal fees if pursuing an eviction.2

Legal Expenses

For a our full fee schedule, please see our landlord fee schedule attached

Please note all charges are excluding vat. The current rate of VAT is 20% LMP

*Terms & Conditions

• Minimum of 12 months management with Bakewell & Horner Estate Agents

• Landlord is responsible for cost of Certificates required

• Fees apply if management was taken over by us within 12 months

• Fees apply if ongoing dispute is continued from previous agent/landlord