How much will it cost me to let my property?
This will depend of the service you are looking for. At City Living London, we offer we offer three service stages: Let only service, rent collection service and full management service. Each package involves a different grade of service from City Living London and the fees we charge will reflect this.
Why should I use a full management service?
The fully managed service allows you to sit back and not have to worry about maintaining your rental property. Choosing the fully management service at City Living London will create a professional distance between you and the tenancy, which means all bad parts of a tenancy like rent arrears and deposit disputes will be dealt by the team.
What happens to my tenant’s deposit?
A landlord or the managing agent is required to register the tenants deposit with an approved tenant deposit protection scheme. Here at City Living London, we lodge all our deposits with the Deposit Protection Scheme (DPS). The Deposit Protection Scheme is there to protect the tenant’s money and help to resolve any disputes at the end of the tenancy.
Why should I have an inventory?
An inventory is a complete list of the items left and the condition of your property before the tenants move in. If there was to be a dispute over damage at the end of the tenancy, the document acts as a proof of the original condition of the flat before the tenants moved in, therefore it is vital to have an inventory done.
Why do I need an EPC?
An Energy Performance Certificate (EPC) is a detailed energy efficiency report of a property. The property will be rated from A (most efficient) to G (least efficient) and the report will be valid for 10 years. All landlords must purchase an EPC for their rental property.
What are my obligations surrounding gas?
If a property has gas supply then a Gas Safety needs to be taken place to ensure that all gas appliances, pipes and flues are in a safe working order. This must be carried out by a qualified Gas Safe Register engineer and the certificate will be valid for 12 months.
Will my agent keep my money safe?
As members of ARLA and The Property Ombudsman, you can be stress-free to know that City Living London is a regulated agent; therefore your money will be protected through the Protection Bonding Scheme.
How do I receive my rental income from my letting agent?
If you choose a Part Managed or Fully Managed service, we will collect the rent from the tenants and transfer the money to your account minus our commission and any outgoing fees (e.g maintenance fees). You will receive a statement every month.
What if the tenant damages the property?
If the tenant damages the property they will be liable to fix the damage or pay for the cost for fixing the damage. This can be deducted from the tenant’s security deposit at the end of the tenancy. Fair wear and tear is not included as damage to the property.
What if the tenant doesn’t pay?
Landlords are recommended to insure themselves against non-payment of rent. Please speak to the sales and lettings team at City Living London who can advise you on how you can take out a rent protection insurance.
What is ARLA?
ARLA stands for The Association of Residential Lettings Agents and is the professional and regulatory body for letting agents in the UK. ARLA is committed to protecting customers by improving lettings standards and professionalism. City Living London is a member of ARLA and regulate by the current best management practice and law.