1. WHAT SERVICES DO YOU PROVIDE?
2. WHAT REFERENCES ARE TAKEN FROM TENANTS?
3. HOW LONG WILL IT TAKE FOR MY PROPERTY TO BE LET?
4. WHAT TYPE OF TENANCY AGREEMENT WILL BE SIGNED?
5. HOW MANY SETS OF KEYS SHOULD I SUPPLY?
6. SHOULD I PROVIDE AN INVENTORY
7. WHAT IS THE TENANT DEPOSIT SCHEME
8. WHAT SAFTEY REGULATIONS AM I RESPONSIBLE FOR?
9. WHAT FURNITURE SHOULD I LEAVE
10. RECOMMENDED CONTENTS
11. WHO PAYS THE UTILITY BILLS ?
12. WHAT HAPPENS IF THE TENANT MOVES OUT EARLY?
13. CAN WONDERLEASE SELL MY PROPERTY ONCE I NO LONGER WISH TO LET?

1.         WHAT SERVICES DO YOU PROVIDE?
When letting your property Wonderlease offers 4 service options.

• Introduction service.
  Once we have viewed your property we will commence our marketing plan. We will escort all prospective tenants around your property. All tenants are profiled over the telephone by a fully trained negotiator so we know that we will be showing the right people the right property. Once a tenant has shown an interest in your property we will keep you fully informed and subject to any offers being agreed we will take up the necessary references. When all references are back and the tenant is ready to move in we will obtain one month’s rent in advance and a 1 months’ rent security deposit, which is held against any damage or breakages.

• Rent Monitoring Service.
  With this you get all of the above benefits with the added security of knowing that we will be collecting your rent and monitoring swift payment. Rent will then be forwarded to you via cheque or bank transfer. Most payments are made via our on-line banking service, which provides the quickest possible way of getting the rent to you.

• Full Management Service.
  Once again you will get all of the above benefits but with the peace of mind that we will always be the first point of contact for your tenant(s). Normally we will agree a maximum amount that we can spend on your behalf for routine maintenance, contacting you for approval for any sum over that amount. This service is ideal for landlords who are too busy to get involved with the day to day running of a rented property or who simply prefer a professional management company to protect their asset(s). For non-resident landlords this service is essential.

• Management Transfer
  This service is offered to all landlords and property companies whom for various reasons require us to take over existing tenants. We are only too pleased to offer advise without obligation and in the strictest of confidence.

 

2.         WHAT REFERENCES ARE TAKEN FROM TENANTS?
As standard we take the following references for a Private Let:

Passport or Drivers Licence – Confirming the tenants identity
Employment Reference - Stating position held, length of employment, salary and  reliability
Landlord’s Reference - Stating length of time at property, was rent paid promptly and condition of property at surrender.
Bank Statements – last 3 months bank statements to show status of account.
Pay Slips – confirming tenant’ earnings.
Credit Check - Giving the applicant a credit score, how long they have been living at the address supplied and any adverse credit history.

We are very thorough with our referencing procedure, as our main priority is to find you a tenant who will be able to afford the rental and who will maintain the property in the same way that it was found. All references are collected in-house and are available for viewing should landlords wish to do so. There are situations where not all of the above are obtainable and any exceptions to our standard practice must be confirmed by you first. An example of this is first time workers who have been living at home and who have not rented before.

3.         HOW LONG WILL IT TAKE FOR MY PROPERTY TO BE LET?
On average a property should be on the market for no longer than 15-20 days. In peak times it is not uncommon for a property to be let the same day!

It is common sense that to realise that properties offered in extremely good condition will always attract suitable tenants within a few days.  A property offered in poor condition would possibly take a little longer to find tenants. For advice to show your property at its best and for recommendations to make improvements in order to achieve the maximum rental potential, please ask one of our experienced staff who will be more than happy to help.

Once your property is let, we will remarket the property one month before the tenants are due to leave. This ensures that your property is never empty.

4.        WHAT TYPE OF TENANCY AGREEMENT WILL BE SIGNED?
All tenancy agreements agreed by Wonderlease are Assured Shorthold Tenancy Agreements, which are continuously updated with any changes to legal and market conditions.

The minimum period is six months. The most popular length of contract is for 12 months. Most of our clients prefer the 12 months contract, which can include a break clause agreement. This means that after the minimum period (usually 6 months) the tenant or landlord may serve a fixed notice period (usually 2 months) to terminate the agreement.  From the tenants’ point of view this offers flexibility, especially in an uncertain job market, and from the landlord’s viewpoint this will give us 1-2 months to find another tenant for the property. However, it is not unusual for our tenants to stay in a rented property for 2 or 3 years.

We are able to sign 18 months & 2 years tenancy agreements should this be of interest to you.

5.        HOW MANY SETS OF KEYS SHOULD I SUPPLY?
We would appreciate you making available duplicate sets of keys should they be required. If keys are not supplied we will arrange copies ourselves, at your expense. We would recommend that at least 2 sets of keys are supplied to the tenants, and that a spare management set of keys are supplied to Wonderlease when we are instructed to manage the property. Please also ensure all personal items other than those you intend to leave in the property are removed.

6.        SHOULD I PROVIDE AN INVENTORY?
We would advise for you to carry out an inventory before the tenants move in to the property to ensure a written record, signed by both tenant and landlord, is available at the end of the agreement should there be any dispute over damages. Failure to do so would put a landlord at a major disadvantage if a dispute over the deposit occurs. Wonderlease can arrange for an independent company to carry out a full and comprehensive inventory for you. We are also able to carry out inventories in-house. Quotes are available on request

7.        WHAT IS THE TENANT DEPOSIT SCHEME
From 6 April 2007, when a landlord or letting agent takes a deposit from a tenant, the deposit must be protected in a government-authorised tenancy deposit scheme. This new rule applies to all assured shorthold tenancy agreements.

Wonderlease is a member of such a scheme and will automatically hold all tenants damage deposits unless a landlord can prove that they are also members of a government–authorised scheme.  When a dispute occurs, and if landlord and tenant both agree to use the service to resolve disputes offered by their scheme provider, they are agreeing to be bound by its decision.

Deposits are protected to ensure:
- tenants get all or part of their deposit back, when they are entitled to it
- any disputes between tenants and landlords or agents will be easier to resolve
- tenants are encouraged to look after the property they are renting

8.        WHAT SAFTEY REGULATIONS AM I RESPONSIBLE FOR?
We must advise all landlords that a GSI Gas Safety Certificate, PAT test (Porttable Appliances Test), and an Electrical Safety Certificate are legal requirements when renting your property. These MUST be carried out by qualified engineers and carried out prior to tenants moving in to the property. If you are unable to arrange these yourself we will be happy to organise them on your behalf.  Please advise us accordingly.

In addition if your property is furnished, all the furniture and equipment within the premises must comply with the Furniture & Furnishings (Fire) (Safety) Regulations 1988 (as amended in 1991 & 1993). All soft furnishings must carry the required safety tags (If not they MUST be removed from the property) If any furniture is requested from the tenants, Wonderlease are also able to arrange quotes from various suppliers who would also arrange delivery. Please advise us accordingly.

Please also ensure that at least two smoke alarms are fitted and are in working order. We would recommend that all smoke alarms are mains connected for maximum safety and security. (For larger properties (4 + bedroom houses we would recommend extra smoke alarms) Wonderlease are able to organize any of the above on your behalf should you require.  Please ask for further details.

9.        WHAT FURNITURE SHOULD I LEAVE?
As unfurnished property represents only about 10% of the market place, we advise all our landlords to offer their property furnished or at least part furnished. The majority of tenants renting in the east London area are looking for fully furnished properties.

10.        RECOMMENDED CONTENTS
The following acts as a guide only, as requirements will vary slightly from client to client:

11.        WHO PAYS THE UTILITY BILLS ?
The tenant is responsible for all out-goings on the property. The landlord is only responsible for any service charges, ground rent and buildings and contents(if Furnished) insurance.  Wonderlease will inform both the relevant council tax office and Thames Water when a new tenant moves into your property. We will also make sure that tenants are aware that it is their own responsibility to set up and pay for gas and electric suppliers as well as other services.

12.        WHAT HAPPENS IF THE TENANT MOVES OUT EARLY?
It is very rare for one of our tenants to move out early. We are very thorough with our referencing, and find that 90% of tenants remain in the property until the contract expires. We explain the implications of signing an Assured Short hold Tenancy Agreement so tenants are aware of their legal obligations. In all cases, from the outset we ensure that the right length of agreement has been signed, be it either a fixed term or a break clause term.

13.        CAN WONDERLEASE SELL MY PROPERTY ONCE I NO LONGER WISH TO LET?
As we have hundreds of landlords, many of whom are continually looking to add to their property portfolio, we are always able to sell any type of property with vacant possession or also with existing tenants. For further information please speak with one of our managers who will be more than happy to answer any questions.

We hope that this goes some way to answering some of your initial queries. However we cannot possibly answer every question here and welcome you to call our office with any further questions you may have.

We also offer a free, no-obligation rental valuation service. To take advantage of this fill out our landlord form and one of our lettings managers will be in contact shortly. Alternatively please call our lettings manager on 0208 509 3000 / 0208 520 7334 for further information.

We look forward to hearing from you.