First time Landlords
You as a Landlord
The last decade or so has seen a new phenomenon: the ‘accidental landlord’.
These are private individuals who have discovered that the excellent asset value of their home can make a significant contribution to their capital and income.
The capital value of their property has outshone many other homes for their money. And the yield it can generate (the profit, after expenses, they can earn from rent) makes becoming a landlord a serious proposition.
Making it happen
Like any business, there is some setting up to do in becoming a landlord. But it is not problematic, and at Oakhill Residential we can guide you through every step.
+ Landlord Fees:
Standard Lettings & Rental Collection Fee is 10% plus vat
Comprehensive Management Fee is 15% plus vat
Managed Only Service Fee is 5% plus vat
Short Let Service Fee is 25% plus vat
+ Certifications: Your electrics and gas need to be certified as safe, and your need a simple energy survey to gauge your home’s energy efficiency
Gas Safety Certificate £90.00 inclusive of vat
EPC £102.00 inclusive of vat
+ Other Charges:
Tenancy Agreement £252.00 inclusive of vat
Inventory Check In/Check Out prices range from £100 – £250 inclusive of vat dependent on the size of the property
Tenant Reference Fee – £54.00 inclusive of vat per reference
Professional Clean – £125.00-280.00 inclusive of vat
Renewal Documents – £108.00 inclusive of vat
+ Small print stuff: You need to get clearance from your mortgage company (if applicable) and inform your insurance company
+ Maximise its potential: We’re pleased to advise you on furnishings, décor and small improvements that can generate more rent from the same property.
Remember, every valid expense – from equipping and maintaining your property to Oakhill’s professional fees – can be set against taxable rental income.
The single most important goal is to not just to find tenants, but the right tenants. At Oakhill we have sophisticated referencing systems to accept only people who are creditworthy, and who can be vouched for by reputable referees (who we also check).
Throughout the tenancy, we collect the rent for you and automatically credit your account.
Oakhill Property Management
Naturally, your tenant expects a fully working, safe and comfortable home.
The moment a tap starts dripping or a dishwasher stops working, it’s only fair they expect it to be fixed, and fast.
The Oakhill Full Management Service means that we get your tenant’s phone calls, not you. We also take care of every step to rectify the problem, employing trusted tradesmen who value our business.