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 partialletting 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 ourclients:
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Tenant Introduction
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8% vat = 9.6% of Annual rent one off up-front payment.
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(This is required in addition to Rent Collection and Full Management) Tenant Introduction
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Rent Collection
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4% vat = 4.8% of the annual rent payable in monthly instalments ongoing.
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(This is an add on to Tenant introduction) Rent Collection
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Full Management
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6% vat = 7.2% of the Annual rent payable in monthly instalments ongoing.
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(This is an add on to Tenant introduction or for taking over existing tenancy on to managed) Full Management
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Combined Management
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12% vat = 14.4% of the Annual rent payable in monthly instalments ongoing. No up-front fee.
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Combined Management Service (includes Tenant introduction)
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Central Management Department
We recognised the importance of establishing a central property managementdepartment, with your own dedicated property manager that will deal with allaspects of the letting and management process from start to finish. Ourproperty management department is located at the head office in StratfordLondon.
Tenant Referencing
We use expert third party referencing companies to provide tenantreferences, these include financial and personal details, employment andprevious accommodation references. The companies we use are Homelet & LetRisks. We require the last three years report & Accounts and anAccountants 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 softwaresystem to monitor and control all of our tenants, landlords andcontractors accounts.
Financial Rent Collection
Our accounts department control and monitor each tenant’s individualproperty accounts, to ensure payments are collected by standing order, onlinebanking, debit and credit cards and any cash payments. All accounts aremonitored closely to avoid any rental arrears. Landlord monthly accountsstatements are sent electronically by email or by post.
Maintenance Repair Issues
We have our own tenant repair reporting system that is available online 24hours and day 7 days a week. The system in certain circumstances can provide self-diagnosticinformation to assist the tenant in rectifying the problem. The websitereporting system translates into over 40 different languages at a press ofa button. https://victor-michael.fixflo.com
Maintenance Contractors
Our maintenance contractors are closely vetted to ensure the quality ofworkmanship is of a professional standard and they are both reliable andtrustworthy.
Victor Michael insists that all contractors hold public liability insurancefor your protection and peace of mind, which we hold on file. All our gas andelectrical engineers are members of the accreditation schemes, Gas Safe andNICEIC 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 comprehensiveand professional inventory reports with schedule of condition statements andprofessional photographs which are time and date stamped.
Management Inspections
Our Inventory clerks also undertake the managementinspections of properties, to ensure the property is being kept in good orderand the tenants are abiding by the tenancy agreement.
Landlord Insurances
We recommend that Landlords consider purchasing Rent Guarantee Insurancewhich protects you against tenants defaulting on their rentalpayments and also provides legal costs to legally evict the tenants.The policy will only be offered if the tenants passes the reference applicationprocess. Full Terms and conditions apply.
www.homelet.com
Eviction Notices
We prepare and issue section 21s and section 8s in accordance with theHousing Act 1988 and also serve notice to quite notices in accordancewith the Protection of eviction act 1977.
Check Out Inspections
At the end of a tenancy we arrange for our clerk to attend the property andmeet the tenant, they compare items with the original inventory andmanagement inspection reports, We will at this point discuss with you if anydilapidations are to be deducted from the security deposit, please note generalwear and tear should always be considered and accounted for.
Landlords Statutory Legal Obligations
To Maintain and repair the property (Section 11 Landlord & Tenant Act1985).
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 Act1977).
To give the tenant the required notice when seeking procession (Housing Act1988 (as amended) and Protection from Eviction Act 1977).
To ensure that the furniture and furnishings comply with the Furniture andFurnishings (Fire) (Safety) Regulations 1988 (as amended).
To ensure that the gas and electrical appliances and supply are safe (GasSafety (Installation and Use) Regulations 1998 and Electrical Equipment (safety)Regulations 1994).
To commission an EPC before marketing of the property begins, to use allefforts to obtain the EPC within seven days or 21-day extended period, and toprovide the EPC to the eventual tenant free of charge.
Client Money Protection Scheme statement
A Client Money Protection (CMP) Scheme is a compensation scheme providingcompensation to Landlords/Tenants and/or other if an agent was tomisappropriate 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 TenancyDeposit Scheme (TDS) and produce a certificate for the tenant within a maximumof 30 days from the start of the tenancy.
After the checkout inspection has taken place at the end of the tenancy andthe checkout report is filed with Victor Michael, we willthen evaluate if there are any damages or rent arrears to be deducted fromthe 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 tobe deducted from the tenant’s security deposit. If there are deductions to be made,we will then liaise and negotiate with the tenant in writing. If we cannotarrive at a mutual agreement, both parties have the right to raise a disputewith the TDS which will then be sent for arbitration, however if there are nodeductions we will payback the deposit in full less our check out deductionfee. www.tds.gb.com Dispute casestudies
Additionalservices available
Should you request them if they are not included in your servicepackage
| Rental review/Sale appraisal prior to endof tenancy |
£30.00 VAT |
£36.00 inc. VAT |
| Detailed maintenance log (required forPRPL) |
£30.00 VAT |
£36.00 inc. VAT |
| Detailed pest control log (required forPRPL) |
£30.00 VAT |
£36.00 inc. VAT |
| Preparation of eviction notices* |
£95.00 VAT |
£114.00 inc. VAT |
| Service of eviction notices – Section 21(6a) and Section 8* |
£65.00 VAT |
£78.00inc. VAT |
| Court Appearances per hour from |
£65.00 VAT; |
£78.00 inc. VAT |
| Prepare and apply for Property License* |
£175.00 VAT |
£210.00 inc. VAT |
| Prepare and apply for HMO License* |
£500.00 VAT |
£600.00 inc. VAT |
| FRA (Fire risk assessment) |
£65.00 VAT |
£78.00 inc. VAT |
| LRA (Legionella risk assessment) |
£65.00 VAT |
£78.00 inc. VAT |
| Rent guarantee claim processing |
£175.00 VAT |
£210.00 inc. VAT |
| Preparation of file and documents forDeposit Dispute |
£100.00 VAT |
£120.00 inc. VAT |
| Accompanied Council visits |
£95.00 VAT |
£114.00 inc. VAT |
| &Additional Management Inspections |
£65.00 VAT |
£78.00 inc. VAT |
| Detailed PRPL Inspections with floor plans |
£140.00 VAT |
£175.00 inc. VAT |
| Detailed PRPL Inspections (pervisit) |
£90.00 VAT |
£108.00 inc. VAT |
| Floor Plans |
£50.00 VAT |
£60.00 inc. VAT ; |
| Gas safety inspection certificate (GSI)# |
£50.00 VAT |
£60.00 inc. of VAT |
| Inventory |
£95.00 VAT |
£114.00 inc. of VAT |
| Electrical safety inspection certificate(ESI)# |
£110.00 VAT |
£132.00 inc. of VAT |
| Check out |
£65.00 VAT |
£78.00 inc. of VAT |
| Portable Appliance test certificate (PAT) |
£40.00 VAT |
£48.00inc. of VAT |
| Rent Guarantee Insurance 1 month excess |
£160.00 IPT |
£192.00 inc. of IPT |
| Rent Guarantee Insurance NIL Excess |
£185.00 IPT |
£222.00 inc. of IPT |
| Energy Performance Certificate (EPC)# |
£65.00 VAT |
£78.00 inc. of VAT |
| Smoke Detectors (each additional detector£15.00 vat £18.75) |
£65.00 VAT |
£78.00 inc. of VAT |
| CO2 Detectors (each additional detector£15.00 vat £18.75) |
£65.00 VAT |
£78.00 inc. of VAT |
| TDS Registration # |
£50.00 VAT |
£60.00 inc. of VAT |
| TDS Renewals # |
£30.00 VAT |
£36.00 inc. of VAT |
| Renewal Fees payable: (forTenant Introduction Only) |
£350.00 VAT |
£420.00 inc. of VAT |
| Marketing Plus administration andenhanced marketing |
£95.00 VAT |
£114.00 inc. of VAT |
| (includes superior professional photography and floor plans) |
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| #Legally required |
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| VAT will be charged at the prevailing rate. |
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| *Additional charges may apply |
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