What you can expect from our management service
Instructing Naylius McKenzie to manage your property guarantees around the clock care for both your property and your tenant ensuring your everyday responsibility as a Landlord. We are able to offer a full management service or purely rent collection if preferred.
The key to our management of your property is prompt processing of rents. We arrange for tenants to set up monthly or quarterly standing orders for their rent payments from the start of the tenancy. We produce statements of account and send them to you as we receive income. The statements also detail payments we make on your behalf.
Tenants Deposit Scheme
Naylius McKenzie is a member of the Tenancy Deposit Scheme, which is administered by:
The Dispute Service Ltd
PO Box 541
Phone 0845 226 7837
Fax 01494 431 123
If Naylius McKenzie is instructed by the Landlord to hold the Deposit, Naylius McKenzie shall do so under the terms of the Tenancy Deposit Scheme.
We respond immediately to any problems reported. This is important for your peace of mind and for your tenant's welfare. We use a reliable team of qualified and fully insured contractors. Because they do a great deal of work for Naylius McKenzie Landlords, you can be sure of prompt service at good prices.
Except in genuine emergencies, we get quotes for all major repairs which we will submit to you for your consideration. We process and pay on your behalf the contractors' invoices. If we do large-scale work for you, we arrange to check its satisfactory completion before releasing final payment.
To keep your property in the best possible condition to attract good-quality tenants and maximum rent, it is vital to keep it up to date. Once a property has been let for several years, the décor becomes tired. Our team has access to all kinds of specialists and can advise on any type of refurbishment work, from simple redecoration including wood floors and carpets, to updating kitchens and bathrooms should you require.
Before the tenancy begins, an inventory is prepared detailing the contents and condition of the property. This is carried out by an independent inventory clerk and a copy supplied to both Landlord and Tenant. The Landlord pays for the inventory before the commencement of the Tenancy, and the Tenant pays for the check out of the inventory at the end of the Tenancy. The inventory is there to protect both the Landlord and Tenant and such costs should be seen as a necessary investment that helps protect the interest of both parties.
Taxation for Overseas Landlords
Under the Finance Act 1995, the Inland Revenue introduced a system of self-assessment, and all overseas Landlords may apply to the Inland Revenue for a Certificate of Self-Assessment in order for rents to be paid over gross. We strongly recommend that all overseas Landlords apply for self-assessment. We can if required apply to H.M. Customs & Excise on your behalf. For those who have not applied, Naylius McKenzie is required by law to deduct the tax for all overseas Landlords at the basic rate from the net rental income and pay this on a quarterly basis to the Inland Revenue. At the end of each tax year we will provide you and your accountant with a certificate of tax deducted confirming the amount of tax deducted from the rent and sent on your behalf to H M Customs & Excise.
Important Regulations (concerning letting properties)
There are important furniture and furnishing regulations that relate to the letting of your property and all Landlords must comply. We ensure that you meet your responsibilities under these regulations and arrange all of the necessary safety checks on your behalf.
FURNITURE AND FURNISHINGS (FIRE) (SAFETY) REGULATIONS 1988 AND THE FURNISHINGS (FIRE) (SAFETY) (AMENDMENTS) REGULATIONS 1993
All upholstered furniture manufactured after 1950 (including loose fittings and permanent and loose covers) are included with the Regulations.
There are severe penalties for non-compliance. The offence carries a punishment of up to six months imprisonment and/or a £5,000 fine.
- Furniture in all properties that have been let prior to 1st March 1993 MUST comply fully with the Regulations with effect from the 1st January 1997. However we understand from the Department of Trade and Industry that if a tenancy commenced prior to the 1st January 1997 on a property which was let prior to the 1st March 1993 then the Landlord can continue to supply the original furniture until the tenancy expires and then on a new tenancy the furniture would have to comply fully with the Regulations. We strongly recommend that Landlords should make sure that all furnishings supplied comply fully with the Regulations.
- Furniture in all lettings commenced after 1st March 1993 MUST comply with the Regulations except as set out below in 3.
- A Landlord letting his own property for a 'temporary' period and not in the course of business (defined) has a MORAL but no legal responsibility to ensure the furniture complies.
- Landlord's letting a 'second' property or Landlords letting investment property for the first time after 1st March 1993 clearly must comply.
- We confirm that we accept a property onto our books on the understanding that the Landlord has made sure that furnishings supplied comply with these Regulations.
GAS SAFETY REGULATIONS 1994
The new Gas Safety (Installation and Use) Regulations 1994 came into effect on 31st October 1994. Briefly all gas appliances must be checked for safety at intervals of not more than 12 months and records should be kept in respect of the appliances of the date of inspections, the defect identified and any remedial action taken. A CORGI Registered Engineer must carry out checks and this will include checking the gas installation, associated pipe work and ventilation and supplying a safety certificate.
Electrical equipment must be safe and not cause danger. The 1994 Regulations apply to any person who supplies electrical equipment in the course of a business. Safety of any electrical equipment that is supplied as part of furnished accommodation is controlled by the 1994 Regulations. We advise that electrical equipment is tested at regular intervals.
All new homes must be fitted with mains operated smoke detectors. We would strongly recommend that smoke detectors be fitted in all properties and that they are regularly checked, especially battery operated devices. We would also recommend that carbon monoxide detectors are installed in properties.
Claims against the deposit when the tenancy ends
Having your property managed keeps you distant from any negotiations, and we mediate between you and the Tenant. On receiving the check-out report, we draft proposed deductions from the deposit. We agree them with you and submit these to the tenant. We have extensive experience of negotiating for damages or breach of contract so you can rely on our advice to reach mutual agreement between you and the tenant.
Prior to the commencement of the Tenancy Agreement Naylius McKenzie will read the meters and advise the relevant authority that the supply will be taken over by the new tenant. We will also advise the appropriate Council Tax department.
|Band||Amount of tax|
for Camden (£)
tax for GLA (£)
|Total council tax|