Lettings Valuation Pack by Cooke Curtis & Co

Valuation Pack

Thank you for ValuationCuusingconsideringCookertis&Co.PackThispackcontainsanoverview of who we are and how the market is, as well as a guide to the costs involved with the initial let and ongoing tenancy and, of course, our advice on price. We very much hope we can help you with the letting of your property.

1.0 Our valuation and fees 2.0 Local market data 3.0 About Cooke Curtis & Co 4.0 Meet the lettings team 5.0 Before we begin 6.0 Marketing and tenant selection 7.0 Moving in 8.0 Inventory 9.0 Deposit registration 10.0 Property management 11.0 MyPropertyFile 12.0 When your tenants leave 13.0 Service Contentslevels

1.0Ourvaluation

1.0 Our valuation We recommendwould a monthly rent of And£ our managedforseForproposalfeeisaletonlyrviceorafullyser vice.

1.0 Our before£150passedpotentialfee:Property£40Shoppingcostfee:Projectfee:Tenancy£60Newfee:OverseasofdependingInventory:valuation£220-£440onsizepropertyLandlord£25perquartertenancyfee:perapplicantrenewal£60management10%ofprojectfeewithdrawal£250ifatenanthasreferencing.ifwithdrawnreferencing For toandreferenceToquarterlyForconditionprofessionalreport.HMRCreturn.fullyandthoroughlytenantscarryoutRightRentchecks. To renew a fixed term tenancy. For significant Whererenovations.youask us to buy something for the property that falls outside our property.withdrawsWhenmanagementusualscope.thelandlordthe

2.0datamarketLocal

About CC&C 3.0

Cooke3.0 Curtis & Co is one Agencies.leadingCambridge’sofEstateAboutCC&C

We believe that, with the right approach, the commercial interest of the landlord can be perfectly balanced with the need of the tenant to have a good quality home. A mutually respectful relationship between landlord, tenant and agent is the key to a successful let.

About CC&C

We are locally owned and operated by experienced professional Estate and Letting Agents who call Cambridge home and have a deep understanding of the city and surrounding villages. We provide a personal, individually tailored lettings services to landlords of good quality properties and, to good quality tenants looking for the same.

3.0

We see Estate and Letting Agency as being as much about people as property. Our job is to work for you, to help you achieve the best possible outcome for your personal situation. We listen, we advise and we care.

Aboutcome.CC&C

We have a fair and transparent fee structure. There are no hidden charges for landlords or tenants. We take no kickbacks or commission payments from any of the contractors we use. We believe we can run a better business by putting the interests of our clients ahead of the financial interests of the company. We are here for the long run. We care about doing a good job and we want to build longterm relationships with our clients, and not just a short-term profit. We want to have a business we can be proud of for many years to

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IntelligenceimpactpositivehaveWebpResonsiletrytoaon aswayandcommunityourgetintheaslittlepossible. You don’t want a small, unsuccessful agent, but to a large firm you are often little more than a number. andWeJustmercenaryenoughenjoywhatwedoarekeentomakethe experience of letting and renting as easy as possible for our clients. We analyse, we consider and we adapt what we do to make sure we get the best possible result for our clients. The right size Big enough to cope, small enough to care. caremorebitAWedon’thaveaonesize-fits-all approach to property marketing. We listen to what you want to achieve and produce a marketing plan to make it happen. Zero Hassle We are theforthesalespeople.advisors,professionalnotWesavesalestacticsonceyou’reonmarket.

4.0teamtheMeetlettings

4.0 Our small, perfectly formed team have over 25 years of combined experience in all aspects of lettings, from student accommodation, HMOs and property maintenance to luxury apartments and portfolio acquisition and management. We have worked in the industry long enough to gain the experience and detailed understanding our clients need but are young and fresh as a business and as a team. We’re focused on providing more attention to detail, more enthusiasm, more creative thinking and better communication.

Sam and Jamie started Cooke Curtis & Co having held management positions in some of the area’s leading Estate Agency firms. As well as leading the ethos of Cooke Curtis and Co. They continue to work full-time in the business, providing the same handson agency they both have for many years locally.

Sam Cooke & Jamie Curtis Partners Meet the lettings team

Aimée

Hannah grew up in Trumpington and now has her own house in South Cambridgeshire which she enjoys renovating and growing her own vegetables. Prior to joining CC&C she held a high position at one of the city’s other major letting agents giving her excellent local knowledge and experience. Hannah has two dogs, each with the name of an elderly lady. Meet the lettings team Saxon Letting Agent

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Head HannahLettingsof Prowse

Aimee first worked in lettings at the tender age of 18 while at University, working her way from Resident Coordinator to Halls of Residence Manager, before moving down to Cambridge in 2011. Working previously as a Property and Lettings Manager for a large portfolio she has vast experience in managing HMO’s in the City. As CC&C’s Head of Lettings she is responsible for the management and smooth running of the department and deals with everything from finance and accounting, to short term lets, large country houses, property development and renovations. Aimee is a fearsome netball player and lives North West of Cambridge with Ruby the fox red Labrador.

4.0 Ryan has worked as an inventory clerk and a letting agent both locally and internationally. He’s one of those young people who impresses with maturity and knowledge beyond his years. Ryan does not have a dog, because he’s always at the gym and the dog would get lonely. Kirsty grew up in the centre of Cambridge and, though her youthful appearance may cause you not to believe it, has worked in property lettings in the city for more than 15 years. When we let her have time off she and her young family are enthusiasts of the great outdoors and something of a family of Francophiles. She’s also a serial house renovator / developer giving her first-hand understanding of the varied challenges of the property game. Meet the lettings team Ryan

LettingKirstyLettingFARLASmithAgentAshtonAgent

Before we 5.0begin

5.0

The Gas Safety Regulations 1998 require properties with gas to have a Landlord’s Gas Safety Check carried out and issued annually.

certificate

Right to rent Before we begin

As of the 1st of Feb 2016 all private landlords are required to check tenants have the right to reside in the UK before entering a rental contract. We will carry out these checks before move in and if we are instructed to manage your property, will also complete any follow up checks required for time limited documents. Gas

performanceEnergysafety

As of the 1st of April 2018 it is required by law that all privately tenanted properties must have a valid EPC of an E or above by the Energy Efficiency Regulations 2015. Listed properties are exempt from this.

Part of our duty to our landlords and tenants is to be aware of the fast-changing laws and regulations that surround lettings. We are linked to various national bodies and organisations, and ensure we are always aware of, and prepared for any upcoming changes. Before we let any property we work with our landlords to make sure both they and their tenants are safe, protected and legally compliant.

Smoke alarms and carbon monoxide Electricaldetectors assessmentLegionellatestingrisk

Legionellaapplicable.naturally occurs in water supplies, so every house is potentially a risk. The risk is increased where there is standing water, water tanks for example. As a landlord it is your responsibility to ensure your tenants risk of exposure is as minimal as possible. A risk assessment can be carried out to highlight any areas of concern. Before we begin

As per the Smoke and Carbon Monoxide

Alarm Regulations 2015 a working smoke alarm is required on each floor of the property. A CO alarm must also be installed in any room with a solid fuel burning appliance. These alarms must be working at the start of each tenancy. It is up to the tenants to keep this working throughout the tenancy.

The Electrical Equipment Regulations 1994 require that all electrical equipment and wiring is safe. The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 now mean that all rented properties must have a valid Electrical Installation Condition Report (EICR) issued to the tenant before they move and renewed every 5 years. In addition, although not a legal requirement, it is good practice to have Portable Appliance Testing (PAT) where

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A house of multiple occupancy is classed as anywhere where there are three or more unrelated households. A large HMO needs a license if there are five or more tenants of three or more households sharing a basic amenity. Different local authorities can have different requirements depending on the size and type of property. We work with HMO officers at Cambridge City Council and South Cambs to ensure all our HMOs meet or exceed their requirements.

Where a property has a mortgage, you will need to check you have consent from your mortgage lender to rent out the property. If applicable you will also need to ensure you have permission from any Freeholders/ block management at the property. Lastly, if the property is jointly owned all co-owners must be named on our landlord agreement and on the Tenancy Agreement. Before we begin Furniture fire

guidelinesHMO

Consentsafety to let

The Furniture and Furnishings Regulations 1988 requires all soft furnishings provided in a privately rented property to comply with fire safety regulations. This includes sofas, chairs, mattresses, cushions, upholstered headboards etc. All furniture purchased after March 1st 1990 should comply, if it does fire safety labels will be attached.

Non Resident Landlord tax insuranceLandlord

We recommend that you have both buildings and contents insurance. This needs to be specifically Landlords insurance as standard home owner insurance won’t provide cover when the property has been let out. Before we begin

As a landlord you are required to pay tax on any rental income earned from renting out a property in the UK. Landlords based overseas for more than 6 months of the year will need to apply to the HMRC to pay tax on their rental income via self-assessment. This is an NRL1 form. The HMRC issue a certificate that allows us, the Agent, to release the whole rent. Where this certificate is not obtained, we are legally obliged to withhold 20% of the rental income to sent to HMRC quarterly. For further information please see www.gov.uk/tax-uk-income-live-abroad/rent

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How we will market 6.0propertyyour

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The market for rented houses in Cambridge is generally strong, but we don’t let this make us complacent. Carefully considered marketing finds a tenant quickly, and at the best possible price. But more critically than that it often gives us a choice of tenants, meaning we are able to choose the right tenant for you, and your property. The best properties attract the best tenants. Not everything we let is going to be a highend luxury property, but not every good tenant wants or can afford that. The aim is to find the best tenant possible for your particular property. Sometimes a few minor tweaks can do wonders for the quality of the tenant we can find. Sometimes this is a little bit of decorating, occasionally it’s just reorganising furniture for the photography. The details are enormously important, and we take the time to ensure we work with our landlords to get the best result. Working with you to ensure the property is presented at its best How we will market your property

We list on the busiest property portals including Rightmove and Zoopla, optional advertising in the local press and have connections to the various relocation agents that work with many of Cambridge’s biggest employers. We have a large database of tenants actively looking for properties and, depending on your property type, work hard to ensure it appears in all the right places, even the less obvious ones. But so do many other agents, so our job is to ensure the properties we market stand out. We take great care in producing accurate, informative and honest marketing material for all of our properties including detailed floor plans and high-quality photography. We are consistently in the top few agents on Rightmove for ‘views per property’ which is the best guide to how well we are doing at getting your property noticed.

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theviewingsAttractingtoproperty

How we will market your property

We ask a few basic questions before we book a viewing for potential tenants. There’s no point showing 4 sharers your house if you only want to rent to a family, but it’s the viewing itself that is the most critical part of the process. We carry out all viewings ourselves. We don’t employee weekend staff or agencies. This gives us a chance to meet the potential tenant, ask all the pertinent questions and understand whether we would like to rent to them. It also gives them a chance not just to see the property, but to meet the people who will be looking after them if they live there. Tenants want a conscientious, honest and helpful managing agent as much as they want the right property so we work hard to impress them.

How we will market your property

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Meeting applicationsTakingatpotentialthetenantsthepropertyinformal

Once a potential tenant decides they would like to rent your property we ask them to complete an online application detailing who they are, where they work, where they’ve lived previously, who will be moving in and everything else we need to know to make an informed judgment on whether to trust them with your property.

If, once we’ve carefully considered the information on the form we think they are suitable we will get in touch with you to explain who they are and why we like them. If there is more than one application we talk you through the pros and cons and come to a joint decision as to who we agree will be best to move forward with. At this point we take a commitment from the tenant in the form of a holding fee. This holds the property for them for the time it takes to complete the formal application. It includes credit checks, corresponding with previous landlords, employer checks and anything else we can to properly check that our opinion of them is right. If there is any concern raised here we will discuss it with you again and if necessary reject the application.

How we will market your property

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applicationformalConductingthetenantstheDiscussinginterestedwithlandlord

Moving in

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Where possible we encourage landlords to create a handover pack for the tenants, to help them settle in quickly and start off the relationship of the right foot. The most common questions when a new tenancy starts are about heating and appliances, so manuals and instructions are invaluable to both us and the tenants in the first few weeks.

Moving in

Once everything has been confirmed and agreed we will then finalise the tenancy and draw up the tenancy agreement. Whether you opt for fully managed or let only, we will always collect the first month’s rent and the damage deposit. The paperwork and invoice is sent to the tenant via email for them to read and sign prior to the tenancy. We require the payment to be cleared funds in our bank account before we will release any keys. If you would like to see a copy of our tenancy agreement, please ask. A professional inventory will be done just before the tenancy is due to start so that the condition of the property at the start of the tenancy is recorded. This will be sent out once keys are collected from our office and the report is finalised.

8.0Inventory

We use an independent, local professional inventory company for our inventories and checkouts. They are unbiased and accredited with ARLA. It is mutually beneficial to both the landlord and tenant to have an inventory carried out. Without an inventory, deposit disputes are much more likely and can be impossible to resolve. It is important to protect all parties against unnecessary costs.

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The inventory however is more than a list of items provided, it is a condition report of the entire property sometimes up to 100 pages. Details of the flooring, décor, bathroom, kitchen fittings and appliances will all be taken. The inventory clerk will take photographs of everything to document the exact condition of the property and its contents, as well as a record of the meter readings for the start of the tenancy period. The report is then emailed to the tenant and landlord once the tenancy has started. A window of 7 days is provided for any observations or comments to be added. The report is then finalised and is saved on the portal along with all the additional tenancy documents for the landlords and tenant to view at any time. Inventory

8.0 The final report is used by the same company when the tenant leaves for the checkout. Again, they will make an impartial report and will note discrepancies rather than liability. 654321StudioUnfurnishedInventorybedbedbedbedbedbed+ £390£350£310£280£250£220Ask £440£400£360£330£280£250Ask654321StudioFurnishedbedbedbedbedbedbed+

9.0protectionDeposit

As you can imagine, taking a damage deposit for a tenancy is very important as it ensures there are funds to be drawn from should the worst happen during the tenancy. We take the equivalent of 5 weeks’ rent as deposit for each tenancy, the maximum allowed by law. It is a legal requirement that deposits are registered in a protected scheme for the duration of the tenancy. We use the Tenancy Deposit Scheme (TDS) custodial scheme. This means the funds are then sent to TDS to hold the deposit securely rather than just insuring it. We have found TDS to be the most efficient of the providers and believe tenants and landlords are better assured that their deposit is safe and the return is dealt with fairly. Tenants are provided with their deposit certificate and prescribed information along with a scheme leaflet at the start of the tenancy so that they have peace of mind that their deposit is safe. Deposit protection

9.0

Tenant are provided with their deposit certificate and prescribed information along with a scheme leaflet at the start of the tenancy so that they have peace of mind that their deposit is safe. On departure the checkout will be completed, and we will consult the Landlord to discuss wear and tear and potential charges should there be any damages. Checkout reports and Deposit protection

10.0managementProperty

Unlike the majority of letting agents, the team you met and dealt with when letting the property will be the same team you deal with during the management. We know the properties, we know the tenants and we know our landlords. We believe continuing this relationship is the key to a happy let.

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Once under our management we work hard to make sure we balance the requirement to provide our tenants with a good quality home with the financial interests of our landlords. Our online portal takes tenants through fault-finding processes to troubleshoot issues themselves before calling us or our emergency contractors. Landlords are alerted to a problem at the house through their portal link. All parties can see when we have acknowledged the issue and monitor any developments. Property management

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We have a 6 step procedure when dealing with maintenance issues:

10.0 Property management 1 The Tenant reports a maintenance issue We investigate and see if there is an immediate solution that can be handled remotely If the issue is unclear we attend the property to investigate further or ask the tenants to send pictures if the problem is visual If we do not know ourselves, we have a team of contractors who we can speak to depending on the issue for advice and guidance. They can often give us things to look for to identify a cause or give the tenant guidance on the phone to fix the problem at no charge to the Landlord If the matter still cannot be resolved, we would speak to the Landlord to see if they are happy for us to instruct a contractor If the landlord is happy for us to do so we would then instruct the contractor and arrange a visit to fix or quote for works

procedureOutInspectionsofhours

The tenants are given their details when they move in but they are also on our website and the portal should they need them. If contacted outside of office hours our contractors will offer support and guidance over the phone and if emergency works are needed they will come out to the property as soon as possible.

We will book our first routine inspection 3 months after the tenancy has started, at this inspection we will determine how frequently we need to visit going forwards. This could be between 3-12 month intervals depending how well the tenant is looking after the property and if any concerns are raised. After each inspection a report will be emailed to both landlord and tenants with any photographs, comments or suggestions. This report is also saved on the portal. Out of office hours, tenants will continue to use the portal to report maintenance issues for us to action on our return. In the event of an emergency we recommend a select few contractors that we trust and use regularly.

We have a small pool of contractors, all local professionals that we have worked with for a number of years and who know the level of service we expect for our tenants and Propertylandlords.management

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We do not charge additional fees for organising work or take a percentage of contractors’ invoices. We minimise our landlords’ expenditure wherever possible.

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The rent is due each month on the date the tenancy started (unless otherwise agreed). Where fully managed you will receive the rent, less our management fee, 1-5 working days after we have received it as clear funds. This normally takes 24 hours from being received in our account, but will be delayed where the payment falls on a weekend or bank holiday. Your monthly statement is processed in house and sent via overnight email. It will show any deductions clearly along with copies of contractor invoices if there has been any maintenance works undertaken for your Propertyrecords.management

The contractors are happy to collect keys from us and work alongside us to ensure works are carried out in a timely manner and to a high standard. If you have a contractor that you particularly want us to use please let us know. Providing they have adequate insurance and qualifications, we are more than happy to instruct and liaise with them accordingly.

Rent statementsand

PropertyMy File 11.0

MyPropertyFile is our landlord and tenant portal. As well as being the system for reporting and monitoring maintenance it gives detailed, transparent 24 hour information on the let to both landlords and tenants including access to the safety certificates, the signed tenancy agreement, the inventory, inspection reports and deposit information.

As the landlord you are also able to see your monthly statements and any invoices. During marketing you will be able to see how many viewings we have had and the feedback

Thegiven.tenant can view their rental payments and any outstanding charges on their account as well as report maintenance issues including adding photographs for remote diagnosis.

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The portal can be used on a desktop or as an iOS or Andriod app. For more information visit: property-file/https://jupix.com/news/jupix-launchesMy Property

File

12.0

To continue the tenancy on a periodic basis; the tenancy will continue a monthly rolling basis until either the landlord of the tenant gives notice. There is no fee for this.

To end the tenancy two months’ notice will be given to the tenant Depending on your thoughts and plans for the property we will then approach the tenant accordingly and agree a situation all parties are happy with. If you or your tenant decide to end the tenancy we will first check whether you want us to start remarketing. Where let only, we would need a copy of the notice from your Comingtenant.tothe end of a tenancy

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Approximately two months prior to a tenancy coming to the end of the initial fixed term we will contact you to discuss how you would like to proceed. The options are: To renew for another fixed term; this would normally be 6 or 12 months. A new agreement will be drawn up to and there is a £60 fee for the administration of this.

Once the report is complete we liaise with you to confirm release of the damage deposit. The deposit is then returned by TDS subject to any deductions agreed by both parties. For fully managed properties we will be part of negotiations and handle any disputes. For let only arrangements this would be discussed between the landlord and tenant directly and we would only need to be advised about any deductions and the final decision in order to action the TDS repayment.

An inventory clerk will be booked and will attend once the tenant has vacated and returned keys. They will complete the checkout using the original inventory as a bench mark and detail any wear and tear, dilapidations and damages and who is liable for them.

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Coming to the end of a tenancy

13.0levelsService

Complete13.0initial Right to Rent checks Generate RenewCarryPayArrangeLiaiseChaseFollowFullProvideCollectHandLimitedRegisterCompletepaperworkaninventorythedepositaccesstotheportaloverkeystothenewtenantandtransferrentmonthlystatementsaccesstotheportalupRighttoRentchecksrentalarrearswiththetenantsregardingmaintenancerepairsandmaintenancewithcontractors24/7emergencycontractorscontractorsforworkscompletedCheckoutoutroutineinspectionsReturnthedepositsafetyinspectionsDepositdisputehandlingandmediation Liaise with council for external inspectionsReferenceRenewals a tenant Relay CarryMarketConductfeedbackviewingsthepropertyoutavaluation Let Only Fully Managed Service levels

What to do next 14.0

A signed landlord agreement

14.0

Copies of all landlords’ IDs

If it is a new let we will arrange photography, the floor plan and EPC as necessary and email you our proposed marketing material for you to check over. Usually within 2-5 days. What to do next

A key or someone to let us in so we can take photographs and a floorplan. Any current safety certificates you have (don’t worry if not, we can arrange these)

If you have decided that you would like to work with us then the next steps are simple. We will need: Proof of property ownership

If we are taking over the management of the property from another agent we will need their contact details to arrange transfer of management, the deposit and tenancy records. We will also arrange to meet the current tenant and inspect the property.

We can meet you back at your property or if you’d prefer to come to the office we can book you in to meet the team and discuss access arrangements.

As a relatively new local business we are working hard to build a reputation for hard work and honesty and are achieving excellent results for our landlords. As a small team we are very proud to have gained ARLA membership and several awards already. In 2018-2019 we won The Letting Agent Gold Award in The British Property Awards and in 2020 we not only won the Best Estate Agent Guide Silver Award for Excellence, but also were awarded a further Category Winners Award for marketing, service and results. This award is in conjunction with Rightmove and the Property Academy who placed us in the top 3% of all agents in the UK which was a real achievement for the team. Our Landlords and tenants have the peace of mind that we are also members of The Property Ombudsman Scheme (TPO) and the Propertymark Client Money Protection Scheme (CMP).

40 High CambridgeTrumpingtonStreetCB2 9LS +44 (0) 1223 hello@cookecurtis.co.uk508050