Why let through Peter Ball & Co?

  • Free, no obligation, realistic valuation
  • A personal service from our dedicated and experienced lettings team
  • A choice of rental service levels to suit you
  • Marketing through Peter Ball's five prime location offices in Cheltenham & Tewkesbury
  • Promotion of your property through our own website and the major internet property web sites.
  • Accompanied viewings
  • Comprehensive feedback at every stage of the process
  • A dedicated property management team conducting regular inspections to look after your interests in the maintenance of your property
  • Up to date knowledge of all legal aspects of lettings
  • Registered with The Property Ombudsman redress scheme
  • Client money protection provided by ARLA


Landlord Guide

Establish the rental value of your property

As with selling your property studying the local press and the web can give useful information as to the rental value of your property but nothing substitutes for the skill and experience of a professional valuer.

Maximising the potential of your property rental requires the best rental return possible but, more importantly, minimising any period of vacancy.  Setting the correct rental value is key to ensuring the best possible returns.

Choosing an appropriate level of service

Letting agents will normally offer a range of services as follows:-

  • Let Only
    • Market appraisal and inspection
    • Advice on marketing and standards of repair/presentation required.
    • Organising Energy Performance Certificates (EPC)
    • Advertising and marketing
    • Accompanying of viewings
    • Referencing of all tenants - to include initial Right to Rent checks
    • Organising gas and electricity certificates
    • Preparation of contracts
    • Collection of initial rent
    • Collection and registration of tenant deposits with the Tenancy Deposit Scheme (TDS)
    • Setting up standing order mandates for ongoing payments of rent to your account
  • Rent Collection
    • As above but with ongoing rent collection and accounting service
  • Fully Managed
    • As above but additionally to include
    • Arranging for the preparation of a professional inventory and schedule of condition (Additional Costs Apply - See "Peter Ball Landlord Fees")
    • Regular property inspections
    • Follow up Right to Rent checks where required.
    • Dealing with day to day tenant enquiries and maintenance issues
    • Transfers of utility accounts at commencement and termination of the tenancy
    • Closing inspection and negotiating of deposit returns

For information on letting/Management Fees see "Peter Ball Landlord Fees"

Inventories

Under the terms of a tenancy agreement a property should be returned in the same condition at the end of a tenancy as at the beginning (with some allowance for fair wear and tear).

At the end of a tenancy the extent of any damage caused is established by referring back to the initial inventory and schedule of condition.  For that reason it is vital that the inventory is detailed and accurate and has been verified and signed by all parties at the outset.  In the event of a dispute, any landlord that has failed to provide such an inventory will find it difficult to recoup the cost of repairs from the tenant or the tenancy deposit.

Accordingly we strongly recommend that an inventory and schedule of condition is provided for each and every tenancy.    

Consent to Let

If the property is mortgaged then the landlord will need to obtain the consent of the lender to any let. Similarly if the property is leasehold the permission of the Head Lessee or Freeholder should be obtained and recorded in writing.

Landlords should advise their insurers of their intention to let. In the worst scenario not doing so could invalidate the insurance.

Utilities

Tenants will normally be responsible for all utilities, telephone bills and TV licences. The landlord is responsible for any maintenance fees and ground rents.

Tax

Under the Taxation of Income from Land (Non Residents) Regulations 1995, where a landlord is not resident in the UK, the agent (or the tenant where there is no agent) is responsible for deducting tax from any rent, after eligible expenses, at  the basic rate and remitting that tax to Her Majesty's Revenue and Customs (HMRC)  on a quarterly basis.

Landlords can apply to HMRC for an exemption from this requirement. Where an exemption has been granted the agent can refund  tax withheld in that tax quarter that has not yet been remitted to HMRC.

Further information and exemption application (NRL1)  forms can be obtained from  HMRC, their website or most letting agents.

If in any doubt professional tax advice should be sought.

Tenancy Agreements

Most tenancy agreements will be drawn up as Assured Shorthold Agreements (AST). Under such agreements landlords have greater protection and powers of possession than previously provided for.

There is no minimum term for an AST agreement but most will be for a minimum period of 6 months and can be as long as 3 years.

Renewal of Tenancy / Notice to End a Tenancy

At the end of the fixed term tenancies can be renewed for a further fixed period of time by agreement between the landlord and tenant. If no renewal contract is signed then all AST tenancies will automatically revert to a periodic tenancy.

Under a periodic tenancy a landlord will be required to give two month’s notice in writing to his tenant in order to end the tenancy. That notice must be two months from the following rent payment date. Similarly tenants are required to give the landlord, or their agents, one month’s notice from the following rent payment date.

NB In certain cases specific notice requirements may be specified under the terms of the AST agreement.

Peter Ball Landlord Fees

Letting/Management Fees (Also see "Choosing Level of Service")

  • TenantFind
    • 6 Month Contracts - 90% (75% + VAT) x 1st Month's Rent
    • 12 Month Contracts - 9.6% (8% + VAT) x 1st Month's Rent x Term
  • Rent Collection
    • 6 Month Contracts - 90% (75% + VAT) x 1st Month's Rent
    • 12 Month Contracts - 9.6% (8% + VAT) x 1st Month's Rent x Term
    • PLUS

    • 3% (2.5% + VAT) x Rent Received
  • Fully Managed
    • Management Fee - 14.4% (12% + VAT) x Rent Received
    • Set Up Fee - £180 (150 + VAT)

Additional Fees

  • Inventory Fee
    • Unfurnished
      • Studio/1 Bed - £120 (£100 + VAT)
      • 2 Bed - £144 (£120 + VAT)
      • 3 Bed - £168 (£140 + VAT)
      • 4 Bed - £192 (£160 + VAT)
      • Add. Beds - £30 (£25 + VAT) per bedroom
    • Furnished
      • Studio/1 Bed - £150 (£125 + VAT)
      • 2 Bed - £180 (£150 + VAT)
      • 3 Bed - £210 (£175 + VAT)
      • 4 Bed - £240 (£200 + VAT)
      • Add. Beds - £36 (£30 + VAT) per bedroom
  • Deposit Registration Fee

    £36 (£30 + VAT)

  • Issuing Possession Notice

    £72 (£60 + VAT)

  • Court Appearance

    £90 (£75 + VAT)

  • Works Arrangement Fee (Works over £500)

    12% of Costs

  • Withdrawal of Instruction

    £300 (£250 + VAT)


Tenant Guide

Holding Deposit 

When an agreement in principle has been reached for you to rent a property, you will need to pay a holding deposit. This deposit shows good faith on the part of the tenant and allows the agent to remove the property from the availability list.

Holding Deposit with Peter Ball & Co
£240.00 (£200.00+VAT) for first Applicant + £120.00 (£100.00+VAT) for each additional Applicant or Guarantor. Taking this holding deposit allows Peter Ball & Co to remove the property from the market.

This deposit will be offset against Peter Ball & Co's administration and referencing fees upon the commencement of the tenancy.

If the tenancy should fail to proceed, through no fault of the Landlord or the Agent, the holding deposit will be retained to cover the landlord or agent costs.

In the event of the landlord withdrawing from the agreement prior to the start of the tenancy, through no fault of the tenant, then this holding deposit is refundable.

Administration Fees

The letting agent will charge administration fees for the work involved in preparing and collating documentation for the tenancy.

Peter Ball & Co's Administration Fee
£120.00 (£100.00+VAT) per tenancy

Referencing

Prospective tenants will need to provide satisfactory references. These references will include credit checks and will confirm an applicant’s employment status and income through employers or accountant information. References can also be taken from banks and previous landlords (or their agents).

Peter Ball & Co will also undertake checks on all adult prospective tenants to confirm their Right to Rent under the 2014 Immigration Act.

Peter Ball & Co's Referencing Fee
£120.00 (£100.00+VAT) for each Applicant or Guarantor

NB In the event of the reference application being unsuccessful the Administration Fee is non-refundable

Tenancy Agreement

Tenants and the Landlord (or their Agent) will be required to sign a tenancy agreement, laying out the terms of the tenancy, prior to the start of the tenancy.

Most agreements for private tenants will be in the form of an Assured Shorthold Tenancy (AST) agreement and will be for a minimum of 6 months, though they can be for a longer period.

It is important to remember that these agreements are legally binding contracts and should be fully understood before signing. If in any doubt independent legal advice should be sought before signing.

Prospective tenants should be provided with a sample contract agreement which should be read through carefully prior to signing.

Initial Payment & Security Deposit

Prior to taking the tenancy, tenants will need to pay the first month’s rent in advance plus a security deposit. The amount of the security deposit can vary from agent to agent and is dependent on individual circumstances.

Security Deposit with Peter Ball & Co
The equivalent of 1 months rent + £100 per adult tenant or approved pet.

This deposit will be refunded in full to the tenant at the end of the tenancy as long as they adhere to the terms of the agreement and have not damaged the property.

Under an AST a tenant deposit must be protected under one of three Government approved Tenancy Deposit Schemes.

NB All payments will need to have cleared prior to a tenancy starting. Bank transfers can take up to 3 working days and personal cheques up to 10 working days to clear.

Tenant Insurance

in addition to providing insurance for your personal possessions specialist tenants insurance will also provide cover against accidental damage to landlord’s fixture and fittings. The costs of any damages will potentially be taken from your deposit. So remember, insuring against such damage protects your deposit.  

Managed Properties

Where a property is managed by the Agent all monthly rent payments will normally be made to that agent.

The Agent will also have initial responsibility for maintenance of the property and all defects or problems should be reported to them promptly. Failure to report any problems promptly may lead to the tenant being charged for resulting damage.

The Agent should provide all tenants of managed properties a help line number to be used In the event of an emergency outside of normal working hours.

NB Remember that use of a helpline number for non-emergency reasons is likely to result in a charge to the tenant. Similarly the cost of rectifying any damage or fault resulting from misuse by the tenant will need to be met by the tenant.

Rental Payment

Most tenancies will require tenants to make payment by standing order to the account of the landlord or their agent.

Renewal of Tenancy / Notice to End a Tenancy

At the end of the fixed term, tenancies can be renewed for a further fixed period of time by agreement between the tenant and the landlord. If no renewal contract is signed then all AST tenancies will automatically revert to a periodic tenancy.

Under a periodic tenancy a tenant (paying rent monthly) will be required to give one month’s notice in writing to his landlord, or their agent, in order to end the tenancy. That notice must be one month from the following rent payment date. Similarly landlords are required to give the tenant two month’s notice from the following rent payment date.

NB In certain cases specific notice requirements may be specified under the terms of the AST agreement.

Inventory

Under the terms of a tenancy agreement a property should be returned in the same condition at the end of a tenancy as at the beginning (with some allowance for fair wear and tear).

At the end of a tenancy the extent of any damage caused is established by referring to the initial inventory and schedule of condition.  It is important, therefore, to ensure that you agree with the way that the property has been described. Remember that you will be charged for any damage, over and above fair wear and tear, that hasn't been recorded in the inventory.

Peter Ball & Co Exit Inventory Charge
A charge of £60.00 (£50.00+VAT) will be made to the tenant for the exit inspection of any property being managed by Peter Ball & Co. This charge will be deducted from the deposit in addition to any dilapidation costs.

Deposit Returns

At the end of the tenancy the landlord or his agent or inventory clerk will conduct an exit inspection of the property. The condition of the property, and any of the landlord’s contents, will be compared to that at the beginning of the tenancy as recorded in the inventory. Any damage or deterioration (allowing for reasonable wear and tear) will be deducted from the tenant’s deposit.

A fee of £60 (£50 + VAT) will be payable by the Tenant at the end of the Tenancy to cover the cost of the exit inspection.

A further Administration Fee of £60 (£50 + VAT) will be charged in the event that Peter Ball & Co are required to organise the making good of a property and/or its contents as a result of a breach in the Terms of the Tenancy Agreement by the Tenant.

NB Either the tenant or the landlord can call upon TDS to arbitrate in any dispute over deposit deductions.

Tenants Obligations

During the course of the tenancy the tenant has full responsibility for the property as laid out in the AST but to include making sure that the property is properly secured, and heated and ventilated.

Property Inspections

The landlord or his agent will conduct periodic inspections of the property to ensure that it is being kept in good repair. Suitable notice (normally a minimum of 24 hours) needs to be given to the tenant prior to these periodic inspections.

NB In the event of an emergency the landlord or his agent have the right to enter the property without giving notice.

Council Taxes and Utilities

Unless otherwise specified in the AST it is the tenant’s responsibility to inform all utility companies of their occupation of the property. They will be responsible for payment of all utilities and council tax etc. It is also the tenant’s responsibility to have a valid TV licence for the property.