LETTINGS AND MANAGEMENT

LETTINGS email: lettings@bullandcompany.com We let a very large amount of properties some of which we manage on behalf of clients and some of which we refer to as 'one off lets', those for which the client does not require management. Any property we let must be up to certain standard and meet the demands of the ever more discerning tenant or licensee. If you are thinking of refurbishing or redecorating your property, prior to letting, perhaps you would like to make use of our expertise in this field. We would be very happy to advise what best to choose in the way of paint colours, flooring, blinds, curtaining etc. The trend towards plainer carpets and fabrics and more neutral colours which are pleasing to the eye, will make the property easier to let to a broader spectrum of tenants. Our Terms and Conditions follow but should you wish to discuss any aspect of letting your property please telephone Annabel Anderson who would be very happy to advise. If you are looking for a property to rent please click here. Terms and Conditions Marketing When we have been instructed to let your property we take full details and photographs which will immediately be put onto our website. We have a rental list which is updated and sent weekly by fax or email to all major companies, banks, finance houses etc and we advertise regularly in the Jersey Evening Post. We do individual details on each of our properties and these are available for anyone visiting the office or anyone who rings with an enquiry. Credit Check Upon finding a suitable tenant we will run a credit check to ascertain their credit worthiness (any charges involved will be borne by the tenant) and obtain two references from either a previous landlord, employer or a bank. Whilst Bull & Company will take care in the taking up of references and selection of suitable tenants, we cannot accept any responsibility or liability should a tenant prove to be unsatisfactory in any way, despite these references. Housing Application & Consent Bull & Company will make the Housing application on your behalf and obtain the Housing consent required for your prospective tenant. Lease Unless we are instructed otherwise, we will use our standard lease or Housing Standard Tenancy Agreement. Landlords should check the lease thoroughly. Landlords instructing their own lawyers to prepare the Lease must be responsible for their lawyers' fees. Standing Order We will pass on details of your bank account to the tenant and ask them to arrange for a monthly standing order to be set up. Unless otherwise instructed, we will arrange for your rental payments to be made each consecutive month directly into your bank account. Inventory & Schedule of Condition Prior to letting you should ensure that the property is clean and in good order, internally and externally. It is important to make sure that there are sufficient keys made available and that they all work! We will prepare an inventory and schedule of condition on any unfurnished or part furnished property, if required. Part furnished includes carpets, curtains, fitted furniture, light fittings and 'white goods' only. Furnished properties will generally require the services of an independent firm to prepare the inventory and schedule of condition and the Landlord will accept responsibility for any charges incurred. Services Notification of change of name to service companies (telephone, gas, electricity, water, oil, parish and water rates) will be the responsibility of the landlord and tenant at the beginning of the lease. Fees When we find a tenant who is accepted by you or who you have given us authority to accept on your behalf, and who enters into a tenancy Agreement with you, you agree to pay the charge of 7.5% of the first annual rental to William A. Bull & Company Limited, as a 'one off' payment. This will be deducted from the deposit and first month's rent or part thereof. The remainder will be forwarded to you. MANAGEMENT email: management@bullandcompany.com Bull and Company have been known for over fifty years as experts in this field. Jean Dale who heads the department, has 10 years experience and is well versed in all aspects of property management. Terms and Conditions In addition to letting, terms and conditions for which appear under the heading 'LETTINGS', and the fees for which are 7.5% of the first year's rental, we provide a management service, the fee for which is 7.5% of the annual rental, for the duration of the tenancy. We try to tailor the services we offer to meet the individual requirements of each client but the following is a guideline to the regular services we offer Unless special arrangements are made, our appointment only begins at the start of the letting period and is for the agreed period of the tenancy (and for any subsequently agreed extensions) subject to one month's notice on either side. We expect to have access to sufficient funds at the commencement and during the term of the management to enable us to meet all foreseeable expenditure prior to the next rent collection. As a guideline a float of £500.00 is usually considered acceptable. We cannot be held responsible for the payment of any outgoings should we not have funds available. Handing Over Before handing over your property to ourselves and your new tenant, it is advisable to make sure that your roof and windows are watertight, any possible damp areas have been attended to, you have serviced your boiler, checked to see that all your carpets, curtains and kitchen equipment are in good and clean order, and that you have left numbers of all the tradesmen you use and who know your property for us to contact. It can save you a lot of money using, for example, an electrician who knows how your house has been wired. As well as this, we would like you to make sure that you have left us with a full set of keys, clearly marked as to which key belongs to which door, including any garage, outbuilding or shed. Rental Payments The rent is paid to us on the 1st of every month. Once we are satisfied cleared funds are available in our Clients' Account, our accounts department will make an interim payment into your bank account. This means, for example, that if a monthly rental is £600 then you will be paid £500, we will deduct our management fees and the balance will be retained by us. The following month the same procedure will occur and at the end of the third month you will be sent a Statement of Income and Expenditure and a cheque for any money retained by us for the past three months, minus any expenditure to date. We shall retain a float of £500, from the initial rent received, to cover any unforeseen repairs etc. Repairs and Renewals We will deal with the day-to-day management of your property and, when necessary, instruct professional parties on your behalf to carry out essential works up to an agreed sum. In the event of the repair or renewal exceeding the agreed amount, we shall obtain competitive quotes (where possible) and, subject to your approval, instruct professional contractors. In the event of an emergency e.g. a burst pipe, we shall immediately send in a professional contractor to carry out the necessary repair. All costs will be paid by us, on your behalf, and deducted from the monthly/quarterly income. If a very large sum of money is involved, then we would discuss this matter with you and discuss any additional funding required. Possible Additional Works Where works other than those of a day to day nature are involved such as major building works, re-roofing, underpinning, replacement of windows, renewal of heating systems and electrical rewiring, installation of new kitchens or bathrooms, we may charge a fee of up to 10% of the contractors' charges to obtain estimates and oversee any of these works on your behalf. Expenditure We will pay the insurance premium on the property and also the Parish Rates, on your behalf if you so wish, but instructions must be given by you on these points. If an insurance claim needs to be made on your property then we would charge a fee based on the amount of time taken to complete the paperwork, obtain estimates for any necessary repairs and monitor the same. Tenancy Changes In the event of a change of tenant during our management of the property, we will use our best endeavours to find a suitable new tenant. At Bull & Company, our property management staff look after a very large portfolio of properties and therefore we are well placed to judge what the correct market rent should be for any rental property. Our rentals are realistic because our main aim is to find a suitable tenant for your property in the shortest space of time meaning that you will have rent paid for the longest time possible, It is better to keep a property tenanted at a slightly lower rent than to hang on for too long for rent which may not be achievable. Void Periods We shall also use our best endeavours to keep your property occupied and will accompany prospective tenants on appointments to view your property when your tenant has given notice. During void periods, however, we cannot be held responsible for the day-to-day security of the property and our management function to collect rent on your behalf will cease until a replacement tenant is obtained. Inspections In the case of a tenancy of a year or more, we carry out a six monthly check of your property and report any findings which we feel need attention. Fees The management fee of 7.5% of the annual rent will be paid during the term of our management and will be deducted from each payment of the rent collected on your behalf.