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Property Management

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Victor Michael are a professional managing agent; our property management department provides sound technical advice and administrative support service regarding any residential lettings issues that arise regarding your property on a day to day basis 365 days a year.

Our Services

We offer residential lettings management service which offers a partial letting service right up to a full comprehensive property management service, all options of service can be tailored on a bespoke basis, specific terms may apply.

The following are services we offer, as bonded protected agents, to our clients:

Tenant Introduction                                                                                                   8.0% plus VAT = 9.6% inc VAT

 

Initial market appraisal, preparation of property details

Pre – letting maintenance & furnishing service

Health and Safety checks

Obtain/Arrange an Electrical (ESI) & Gas (GSI) certificates, Portable Appliance (PAT) and EPC*.

Health and safety, Fire risk, Smoke & CO checks, Legionella & PRPL Checks *

Comprehensive marketing through established internet property websites

Accompanied viewings

Tenant credit checks (basic)

Vetting of prospective tenants & Right to rent checks (visa/Residential Status etc)

Rent guarantee scheme available with NIL excess or 1 Month excess*

Tenancy agreement preparation (AST)

Collecting of first month rent and deposit

All transactions are protected by ARLA, NALS & The Guild Code of practice. Members of TPO redress scheme

 

Rent Collection                                                                                                               3.5% plus VAT = 4.2% inc VAT

Enhanced Tenant Reference needed For Rent Guarantee

Rent guarantee scheme available with NIL excess or 1 Month excess*

Registering the deposit with TDS scheme*

Obtain/Arrange an Electrical (ESI) & Gas (GSI) certificates, Portable Appliance (PAT) and EPC*

Health and safety, Fire risk, Smoke & CO checks, Legionella & PRPL Checks *

Managing the check in and check out process*

Collection and chasing of rent

Email monthly rent statements

Electronic rent payments

Serve section 21 notice on request*

Tenancy Renewals

All transactions are protected by ARLA, NALS & The Guild Code of practice. Members of TPO redress scheme

 

Full Management                                                                                                        5% plus VAT = 6% inc VAT

All that is included in the Rent Collection service, plus

Bi-annual property management inspections (Standard)

Field all maintenance calls

Manage all issues reported through Fixflo

Arrange maintenance, repairs and remedial works*

All transactions are protected by ARLA, NALS & The Guild Code of practice. Members of TPO redress scheme

Bespoke Management Services (see appendix 1)

Additional Services Available

Rental review/Sale appraisal prior to end of tenancy                          £30.00 plus VAT                 £36.00 inc. VAT

Detailed maintenance log (required for PRPL)                                        £30.00 plus VAT                 £36.00 inc. VAT

Detailed pest control log (required for PRPL)                                           £30.00 plus  VAT                 £36.00 inc. VAT

Preparation of eviction notices*                                                                  £95.00 plus VAT                  £114.00 inc. VAT

Service of eviction notices*                                                                           £65.00  plus VAT                 £78.00 inc. VAT

Prepare and apply for Property License*                                                 £175.00 plus  VAT                £210.00 inc. VAT

Prepare and apply for HMO License*                                                         £500.00 plus VAT                £600.00 inc. VAT

Detailed PRPL inspection bi-annually (Private Rented Property License)£150.00 plus VAT       £180.00 inc. vat

(Which includes FRA, LRA Smoke & CO Alarm Test)

FRA (fire risk assessment)                                                                              £65.00 plus VAT                   £78.00 inc. VAT

LRA (legionella risk assessment)                                                                 £65.00 plus VAT                   £78.00 inc. VAT

Smoke and CO (carbon monoxide) test 6 monthly                             £65.00 plus VAT                  £78.00 inc. VAT

Rent guarantee claim processing                                                              £95.00 plus VAT                 £114.00 inc. VAT

Preparation for Deposit Dispute Documentation file                          £95.00 plus VAT                 £114.00 inc. VAT

Accompanied Council visits                                                                         £95.00 plus VAT                £114.00 inc. VAT

Floor Plans for licensing                                                                                 £95.00  plus VAT                £114.00 inc. VAT


Central Management Department

We recognised the importance of establishing a central property management department that will deal with all aspects of the lettings process from start to finish. Our property management department is located at the head office in Stratford London.

Tenant Referencing

We use expert third party referencing companies to provide tenant references, these include financial and personal details, employment and previous accommodation references. The companies we use are Homelet & Let Risks. We require the last three years report & Accounts and an Accountants reference for Company Lets.

Property Management Software

We use a computerised property management software system called 'Gemini ' which is recognised within our industry as a leading software system to monitor and control all of our tenants, landlords and contractors accounts.

Financial Rent Collection

Our accounts department control and monitor each tenants individual property accounts, to ensure payments are collected by standing order, online banking, debit and credit cards and any cash payments. All accounts are monitored closely to avoid any rental arrears. Landlord monthly accounts statements are sent electronically by email or by post.

Maintenance Repair Issues

We have our own tenant repair reporting system that is available online 24 hours and day 7 days a week. The system in certain circumstances can provide self diagnostic information to assist the tenant in rectifying the problem. The website reporting system translates into over 40 different languages at a press of a button.  https://victor-michael.fixflo.com

Maintenance Contractors

Our maintenance contractors are closely vetted to ensure the quality of workmanship is of a professional standard and they are both reliable and trustworthy.

Victor Michael insists that all contractors hold public liability insurance for your protection and peace of mind, which we hold onfile. All our gas and electrical engineers are members of the accreditation schemes, Gas Safe and NICEIC which are periodically checked by us.

Inventories & Schedule of Condition Reports

We use a third party inventory clerk company who are members of AIIC ( Association of Independent Inventory Clerks ) they produce comprehensive and professional inventory reports with schedule of condition statements and professional photographs which are time and date stamped.

Management Inspections

Our Inventory clerks also undertake  management inspections of properties, to ensure the property is being kept in good order and the tenants are abiding by the tenancy agreement.

Landlord Insurances

We recommend that Landlords consider purchasing Rent Guarantee Insurance which protects you against tenants defaulting on there rental payments and also provides legal costs to legally evict the tenants . The policy will only be offered if the tenants passes the reference application process. Full Terms and conditions apply.

www.homelet.com     

Eviction Notices

We prepare and issue section 21s and section 8s in accordance with the Housing Act 1988 and also serve notice to quite notices in accordance with the Protection of eviction act 1977.

Check Out Inspections

At the end of a tenancy we arrange for our clerk to attend the property and meet the tenant, they compare items with the original inventory and management inspection reports, We will at this point discuss with you if any dilapidations are to be deducted from the security deposit, please note general wear and tear should always be considered and accounted for.

Landlords Statutory Legal Obligations

To Maintain and repair the property ( Section 11 Landlord & Tenant Act 1985 ).

To give their address ( Sections 1 and 2 Landlord & Tenant Act 1985, Sections 47 & 48 Landlord and Tenant Act 1987 ).

Not to harass or unlawfully evict the tenant ( Protection from Eviction Act 1977 ).

To give the tenant the required notice when seeking procession( Housing Act 1988 (as amended) and Protection from  Eviction  Act 1977.                

To ensure that the furniture and furnishings comply with the Furniture and Furnishings (Fire) (Safety) Regulations 1988 (as amended).

To ensure that the gas and electrical appliances and supply are safe ( Gas Safety ( Installation and Use) Regulations 1998 and Electrical Equipment ( Safety) Regulations 1994 ).

To commission an EPC before marketing of the property begins, to use all efforts to obtain the EPC within seven days or 21 day extended period, and to provide the EPC to the eventual tenant free of charge.

Client Money Protection Scheme statement

A Client Money Protection (CMP) Scheme is a compensation scheme providing compensation to Landlords/Tenants and/or other if an agent was to misappropriate their rent/deposit or other client monies.

As regulated members of Propertymark, we are also members of their CMP Scheme; you will be aware of this from their logo at the bottom of our webpage.

Please see their webpage

http://www.propertymark.co.uk/working-in-the-industry/member-requirements/client-money-protection/

Security Deposits

We register the Deposit when the tenancy first starts with the Tenancy Deposit Scheme ( TDS ) and produce a certificate for the tenant within a maximum of 30 days from the start of the tenancy.

After the check out inspection has taken place at the end of the tenancy and the check out report is filed with Victor Michael, we will then evaluate if there are any damages or rent arrears  to be deducted from the Security deposit taking into account any ' General Wear and Tear ' issues to your property.

We will then liaise with the landlord to ascertain if any costs are to be deducted from the tenants security deposit. If there are deductions to be made we will then liaise and negotiate with the tenant in writing. If we cannot arrive at a mutual agreement, both parties have the right to raise a dispute with the TDS which will then be sent for arbitration, however if there are no deductions we will payback the deposit in full less our check out deduction fee.     www.tds.gb.com      Dispute case studies