The amount of rent we can offer you will usually be negotiated in accordance with the Local Housing Allowance for the area, we normally pay more. The local housing rate will depend on the number of bedrooms and the broad rental market area (BMRA) your property falls in. We can give you a rough guide over the phone but we will need to inspect the property for a more accurate assessment.
- How much rent will I get?
- What is your commission?
With the silver plan, you don’t have to pay any commission for our services. There are no set-up or arrangement fees either, so you receive all of your rent, every month.
With Bronze and Gold the amounts are here.
- Can I contact tenants directly?
Yes you can, but we recommend you always go through us. This way all conversations and communications are logged on our software.
- What are legal costs?
Legal costs may arise during a tenancy. This might be because court action is necessary to obtain rent owed by the tenant, or because a tenant needs to be evicted. Having to take legal action is one of the most worrying and expensive eventualities a landlord can face, but we can erase the stress by taking care of any necessary legal fees. We also take care of the process so you can get on with life and continue to receive the rental income you expect.
- How can you guarantee it for 5 years on the Silver plan?
We are so confident of the calibre of our tenants that we will already have tenants waiting when you agree to London Online managing your property. If the tenant decides to move out during the rent guarantee period, we will continue to pay you the rent even if the property is empty.
- How will I know I have been paid?
You will receive an email with a statement attached each month.
- What about void periods?
Whether your property has tenants or it is empty, we ensure that you still receive the rent you expect, when you expect it. You never miss receiving a payment and we never deduct insurance or set limitations on the guarantee.
For Bronze and Gold plans the rent starts when the tenant moves in and continues if they dont pay, until vacant possession is gained. We then find another tenant for you.
For the Silver plan the rent starts when the lease starts and continues for the duration of the lease unless it is terminated by you or us.
- What about damage?
We return the property subject to the terms of the lease for Silver.
For Bronze and Gold, the tenant is responsible and damages are deducted from a deposit. We recommend you have a full check in/out and inventory.
- What about furniture.
For Bronze and Gold it is optional whether you supply furniture.
For Silver. Furniture requirements will vary depending on which Borough your property is situated within. However, Boroughs that accept un-furnished properties will require the following as a minimum:
- Fridge/freezer (size dependant on size of the home concerned).
- Gas or electric cooker.
- Nets and heavy curtains to windows.
- Lampshades to all light fittings.
- Space and plumbing for a washing machine.
Where the property is required to be furnished, our Negotiator will be able to determine the specific requirements and advise you at the initial inspection.
Remember furniture is an allowable tax expense.
- What am I responsible for with maintenance?
As the Landlord of the property you will be responsible for ongoing repairs and maintenance. You will have the option of dealing with the repairs yourself or alternatively authorising London Online to use one of our approved contractors.
- What is an EPC?
EPC stands for Energy Performance Certificate, which provides a SAP (Standard Assessment Procedure) rating for the energy efficiency of a property from A (very efficient) to G (very inefficient). Each certificate lasts for 10 years unless major renovation work is carried out on the property.
- What is an EICR?
New law now means you must have a valid EICR for renting the property.
- Do you just cover London?
We are London agents, but we can let any property in the country.
- What documents do you need?
- Do you carry out viewings and do I need to be present?
If you are on Silver plan this is not applicable. The property is let fast.
If you are on Gold, we do the viewings.