M & M offer three levels of service, which are as follows:
Assessment of Rent
The level of rent, which can be achieved on a property, will be determined by the current level of demand for rental accommodation in your area. A prospective tenant will also consider the location of the property, the quality of furnishings/fixtures that are being left and its general condition. One of our Property Managers will visit your property and evaluate its rental value based on these things. It is normal that furnished/unfurnished properties are let at a rental inclusive of buildings insurance, and in case of leasehold properties, ground rents/service charges. The tenant is responsible for council tax, water rates, gas, electricity and telephone.
As our Property Manager will point out to you every possible precaution is taken to ensure the tenant placed in your property will provide a trouble free tenancy. A prospective tenant will be interviewed by one of our property managers, and if deemed suitable for a tenancy, M & M Properties employ the services of a professional company specializing in the vetting of tenants for residential property. If a tenant wishes to proceed with a property they will be charged an administration fee, and complete the appropriate application form, providing information including employment details, salary and where they have resided for the last three years. Once all checks have been carried out we will make our recommendations for the tenancy to be formally granted, or the property placed back on the market, depending on the findings of the outside reference company.
Inventory And Schedule Of Condition
A detailed inventory and schedule condition will be drawn up prior to the first tenant moving in. It is important to maintain a certain standard expected by landlord and tenant, and therefore it may be necessary for us to instruct gardeners and cleaners prior to the commencement of the tenancy. This would be carried out after obtaining the appropriate instructions from the landlord, and charged at the cost agreed. The detailed inventory will be updated and methodically checked before each tenancy commences. This document will form part of any claim for dilapidation against future deposits.
Furnished or Unfurnished
There is now more demand for unfurnished than furnished property. When leaving the property unfurnished you are required to leave carpets and curtains throughout, and we advise leaving three main kitchen appliances i.e. cooker, fridge and washing machine although this is not essential. Any kitchen appliances left at a property will remain the responsibility of the landlord, unless otherwise specified.
Property maintenance and maintenance reporting platform
The implementation of an online repair reporting service in 2018 is helping to provide a much improved service to the tenant and help protect our Landlord's property around the clock and save them money. Handling maintenance issues is an integral part of our service to our Landlord, The new 'fixflo' system ensures we provide the highest levels of service to our landlord and tenant. During the tenancy, your tenant will report online any maintenance issues occurring at your property. The online maintenance platform is multilingual, easy to use from either a smart phone or desk top computer providing critical information including photos.If it is of an urgent nature e.g. burst pipes, it would be repaired by our chosen maintenance engineer at our discretion to avoid further damage, and or cost to yourself. For less urgent defects we would contact you and gain permission before proceeding. This is of course for defects caused as a result of normal wear and tear, and is your responsibility as the landlord. Any fault caused by the tenant will be repaired at their own cost. We would request that details of all service contracts and current guarantees are given to us at the time of instruction. If the property is fitted with a central heating system we would recommend arranging an annual service contract to avoid expensive breakdown costs.
Routine Property Visits
Our management team will visit your property and view both the inside and outside. This is to gain an understanding of how the tenants are living in the property, and to also look for possible defects that should be addressed (it should be appreciated that any overview can only extend to apparent or obvious defects and would not amount in any way to a survey). We cannot accept responsibility for hidden or latent defects. M & M Properties are not qualified surveyors or structural engineers. A written report can be provided on request after a property visit has been carried out.
Transfer Of Services
We will read the gas and electric meters and arrange for the transfer of the services at the commencement of each tenancy. However as the telephone providers will not deal with managing agents you will need to arrange disconnection and your final account before leaving the property. Incoming tenants will make their own arrangements for the reconnection of the service. Water meters are generally transferred by us into the tenant's name; however, in some situations it will be necessary for the landlord to remain responsible. Where there is a water meter M & M Properties will notify the water company, and an estimated bill will be raised. M & M Properties do not read water meters without prior agreement with the landlord.
Collection of Rent and Accounting
At the commencement of the tenancy we will collect the first month's installment of rent in advance in cleared funds. The tenant will thereafter pay the rent on the first of each month by standing order. The landlord will be paid into a designated bank account by the twentieth of the same month. Our accounts department will provide a detailed monthly statement showing the rent received, and any deductions including our service charge and other expenses. The forwarding of statements to accountants or another third party is carried out by us at your request. We will, if instructed, settle the landlord's closing accounts for gas, electricity, water and council tax.
Tenancy Agreements and Notices
Your property will be let under an assured Shorthold Tenancy Agreement as defined in the Housing Act 1988, as amended in 1996, 2004 and 2015. The Agreement will be for a term no less than six months and would not end sooner, unless both the Landlord and Tenant were both in agreement. The rent would remain the same during this set period with any increase, if requested, being obtained at renewal of contracts for a further term.
Assuming that no breach of the Tenancy Agreement has occurred the provisions for recovery of possession in section 21 of the Housing Act would apply. The landlord would be required to serve a minimum of two months notice prior to the end of the agreement when looking to recover possession.
We will take a deposit of not less than one month's rent. We will hold the deposit as
stakeholder. This means we will hold the deposit on both the landlord's and tenant's behalf. We are members of the Tenancy Deposit Scheme and we hold the deposit under the terms of that scheme. Full details of the scheme are available on request. At the end of the tenancy, we will provide a fair service to ensure the deposit is distributed to whom it should be paid, or to assist in determining the amount due to both the landlord or the tenant.
Nil deposit scheme
This is an alternative method of providing a deposit. It works by way of the tenant paying a non-refundable Nil Deposit service charge, significantly less than a traditional deposit, this can be as low as two weeks rent plus vat. Offered by let Alliance, the Nil Deposit service manages payment of any entitlement for any breach of a tenancy agreement up to six weeks rent. Throughout the tenancy the tenant will have tenants' liability insurance in place - this will protect against accidental damage to fixtures, fittings and furniture. This scheme provides wider choice for the tenant and may help reduce void periods between tenancies.