The inventory is one of the most important documents you will need to safeguard the condition of your property when it is let, ensuring the registered deposit can be used if necessary when the tenancy has ended. Using the latest technology and fully trained inventory clerks, our inventories list and detail the condition of every floor, wall, ceiling, fixture, fitting and content within.
Unless otherwise agreed rents are paid monthly in advance by standing order into Nock Deighton’s account. Upon receipt this is forwarded direct to the Landlord less our management fees and any authorised repair bills. A detailed statement of account is submitted each month.
Rent Guarantee and Legal Expenses Insurance
This is optional, though highly recommended to ensure your rental income is secure and to safeguard possession of your property can be gained without costly legal expenses, should the need arise.
Periodic property visits are carried out by Nock Deighton approximately quarterly. A written report is forwarded to the Landlord following every inspection.
Defects noted at inspection or brought to our attention by the tenant are investigated and minor repairs can be arranged. Nock Deighton retain a list of approved (independent) contractors with certificates and references, though if required Landlords may nominate their own contractors.
Prior to the end of the tenancy we shall liaise with yourselves and the tenants in order to renew the tenancy, or serve the statutory notice if required.
When the tenants have vacated the property, a full inventory check is carried out by our Inventory Clerk. If necessary, repairs, cleaning and replacements can be arranged and deducted from the tenant’s deposit (subject to the conditions under the Tenancy Deposit Scheme).
INITIAL LETTING FEE: equivalent to half of one month's rent, plus vat
E.g. a rental agreed at £600 per calendar month would incur a fee of £360.00 inc VAT.
PLUS A MONTHLY MANAGEMENT FEE of 14.4% inc VAT of the monthly rent
E.g. a rental agreed at £600 per calendar month would incur a monthly management fee of £86.40 inc VAT.
Rent Guarantee and Legal Expenses
Nock Deighton can provide full Guaranteed Rent and legal expenses indemnity in addition to our management service, at an additional 2.4% inc VAT of the monthly rent, for the term of the tenancy (terms and conditions apply).
Cancellation charge: If our agreement is cancelled by you, AFTER A SUITABLE TENANT HAS BEEN INTRODUCED and prior to commencement of a tenancy, an administration charge of £120.00 inc VAT is payable.
Cancellation of contract during a tenancy term: If you decide to terminate our Management Service during an existing tenancy, for the duration of the tenancy our charges will continue to be payable at 6% inc VAT of the monthly rent payable.
Caretaking service for unoccupied properties: Nock Deighton cannot accept any responsibility for arranging for any work, repairs or regular property visits to be carried out for unoccupied properties between tenancies without prior funding having been agreed and paid to us. Upon receipt of your written instructions we can arrange for scheduled visits, at an additional charge of £60.00 inc VAT per visit.
The Property Ombudsman
We are a member of The Property Ombudsman (TPO). Copies of the Code of Practice and the Consumer Guide are available from https://www.tpos.co.uk/.
Nock Deighton (1831) Limited hold client's money for the purposes of letting and managing property.
Our Client's Money is held in a designated Client Money Account.
We will adhere to all legislation regarding Client Money and the regulations imposed in accordance with the RICS Client Money Protection Scheme. We confirm:
- All Client Money is protected.
- Any money Clients entrust to the firm is held in a Client Account, separate to the firm's own money.
- Our Client Account is a bank or building society account that has the word 'client' in its title and contains only money that belongs to clients of the firm.
- The firm confirms the details of the account with Clients in which their money is held.
- Client's Money can only be used for the purposes which have been agreed with the firm through our Terms of Business.
All further information can be found within our Client Money Policy and Procedures document.