Locus Estates

Property Search

Let Only Service

(6% of the annual rent)

Using Locus tenant find service is ideal if you are an experienced property owner who has the time and knowledge to take care of the day-to-day management of a rental property but would like to ensure tenants are found for the property, lawful process is followed and all legalities are put in place.

Our tenant find service includes:

A rental valuation of your property.

Marketing of your property on all the major UK property portals such as RightMove, Zoopla, Prime Location, OnTheMarket, Facebook, Instagram and Twitter.
Vetting of prospective tenants prior to viewings taking place.

Accompanied viewings.

Full tenant referencing and credit checks. References are gathered from the tenants employer and previous landlords.

Full guarantor referencing including proof of home ownership, employment reference and obtaining a guarantee (where applicable).

Co-ordinating and finalising the lettings terms according to your specific requirements.

Preparation of the Assured Shorthold Tenancy Agreement and standing order.

Collection of the first month’s rent which is then transferred to your account less our let only fee.

Registering the tenants deposit on your behalf with the (Deposit Protection Scheme) as legally required. (We require 5 weeks rent as deposit from all tenants)  

Independent inventory and checkout service; a detailed inventory is carried out to formally assess the condition of your property as well as noting down the property’s contents and condition.

Check-in the tenants at your property.

Arranging renewal on extension of tenancy.

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INFORMATION FOR TENANTS 

When renting a property, there are various costs that you will need to take into consideration when making an offer. 

BEFORE YOU MOVE IN 

Advance rent: Rent is usually payable in advance for each tenancy. You will therefore need to pay, as a minimum, the first months’ rent prior to the commencement of your tenancy, although the amount payable may differ dependent on the terms of your tenancy. 

A refundable holding deposit. you will be required to pay one weeks rent and this will be either returned or offset against the refundable tenancy deposit within 7 days, or up to a maximum of 15 days. This is required in order to submit your offer to the landlord. If accepted this amount will be deducted from the total monies due. The payment is refundable if your offer is not accepted.

   

Deadline for agreement if a tenancy has not yet been entered into. Locus Estates will retain the holding deposit if the tenant provides false or deceptive information which affects Locus Estates decision to rent the property to the prospective tenant, if the prospective tenant fail a right to rent check, or if the prospective tenant withdraws from the agreement. 

A refundable tenancy deposit. Five weeks’ rent 

Changes to the tenancy agreement at the tenant’s request. In the event to make changes to a tenancy agreement A tenancy swap fee of £50 (inc. VAT) plus any reasonable costs incurred if higher, will be payable by the tenant. Please note that Tenancy Swaps are subject to the landlord’s consent and reference approval. 

Default Fee - early termination of tenancies. Early Termination of Contract at the tenant’s request: In the event that you wish to leave your contract early, you will be required to pay the landlord’s costs in re-letting the property as well as all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy. 

Default Fee - late payment of rent. Locus Estates may only charge tenants a default fee of interest on rent that is 14 days or more overdue. The fee will not exceed interest of 3% above Bank of England's base rate for each day that the payment is outstanding. 

Replacement of keys or other security devices in the event that any keys or other security devices are lost and need to be replaced, you will be required to pay the costs of replacing them. If the loss results in locks needing to be changed, you will be required to pay the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s). If tenants require copy of the keys outside working hrs they will need to pay the reasonable delivery cost for the keys to be delivered to the property address.

TENANT PROTECTION

LOCUS ESTATES  is a member of UKALA (The UK association of Letting Agents) membership number : 190813, which is a client money protection scheme, and also a member of The Property Ombudsman Scheme MEMBERSHIP NUMBER : D12308 which is a redress scheme.