FAQ
FAQ
Got a question? You might find the answer here! We’ve put together our most frequently asked questions from both landlords and tenants.
Landlord FAQs
Why do I need to use an agent?
The biggest concerns for Landlords when renting out their properties are damage and non-payment of rent. An experienced letting agent will have the expertise to minimise the risk, but will also know exactly what to do if the worst should occur. Having worked in the industry for many years, we have pretty much seen and dealt with it all!
One of the most important reasons that you need a letting agent, is to ensure that your tenancy is compliant with relevant laws and legislation. Not many landlords have a comprehensive understanding of these and often unwittingly breach them. Unfortunately, non-compliance can attract large financial penalties, and some breaches can result in forfeiture of the security deposit, or leave you unable to regain possession of your property. A regulated letting agency will keep up with any updates or changes to laws and legislation and will ensure that everything is done correctly.
Using the services of a letting agent, means that you do not have to have manage the let. You can avoid chasing rent payments, conducting inspections, taking calls from your tenant and arranging maintenance, as your agent will do this for you.
A letting agent will also conduct thorough reference checks for your tenants, ensuring that they are vetted to the highest standards.
How much rent can I charge?
Your property will be valued based on size, location, condition and current market trends.
Squire Property Management can arrange to visit your property and give you an accurate market appraisal. Please contact us or submit an enquiry to book an appointment.
How and when will I get my rent?
Squire Property Management will pay your rent into your nominated account, by bank transfer on the 3rd working day after receipt. We will also email you a statement each month, showing your rent received, less any deductions such as our management fee, or any maintenance works that you have authorised.
What happens if my tenant doesn't pay the rent?
Squire Property Management will contact your tenant the day after payment is missed and send the necessary formal reminders at 7 days, 14 days and 21 days. We will inform you that the rent is late and discuss further action, serving the required notices to recover funds, or regain possession if required. If your tenants are co-operative, we will work with them, arranging a suitable repayment plan to recover any outstanding amounts, and allow the tenancy to continue, if you are in agreement.
We have plenty of experience from first reminders, to gaining possession orders in court and if necessary, obtaining county court judgements, followed by bailiff collections or attachment of earnings orders. We can advise on the best course of action to suit your circumstances and assist you in recovery. Legal fees may apply.
How much are the management fees?
Squire Property Management charge 10% of the rent collected plus VAT (12% including VAT) for our fully managed service. A discount may be available for multiple property Landlords or large, executive properties.
We also offer a tenant find option, for a fee of 50% of the monthly rent amount plus VAT, (minimum charge of £480 including VAT).
You will also have to pay for any maintenance or compliance items that we arrange on your behalf. Please see our fees and services tab for more details about each package.
How do I know if a letting agent is reputable?
A reputable letting agent will be a member of an accreditation scheme, which will ensure that they adhere to strict codes of conduct, and that client funds are handled correctly. Squire Property Management are regulated by Safe Agent.
Agents must hold client money protection (CMP). There are many horror stories in the media about agents "disappearing" with rent and deposit funds. Client Money Protection ensures that Landlords are protected against this. Our Client Money Protection is provided by Safe Agent.
Security deposits must be protected in a government approved scheme. Squire Property Management register and protect deposits with The Dispute Service (TDS).
Letting Agents should also be members of an authorised redress scheme. We are members of The Property Ombudsman, who will deal with any complaints that we are not able to resolve in house.
Fees and charges should be displayed transparently on agency websites and in their office.
Don't be afraid to ask lots of questions! An experienced and reputable agent will be able to answer them competently.
Please see the accreditation tab for details of our accreditation and professional memberships.
Do I need to tell my mortgage lender if I am renting out my property?
Yes - If you are renting out your existing property, you will need to gain formal consent to let from your mortgage lender.
If you are buying a property specifically to rent out, you will need to arrange a Buy-to Let mortgage, unless purchasing with cash.
What if the tenant damages my property?
It is important to inspect rental properties regularly, so that you can monitor the condition. We conduct inspections every 4 months (3 visits per year) and will send a report to notify you of our findings. If damage is caused during the tenancy, we will ask the tenants to rectify it and increase the frequency of inspections if required.
When the tenants move out, if any dilapidations or damages are identified, that are attributable to the tenants, we will make a deduction from the security deposit. This can be in the form of replacement items (or a proportionate contribution) or a payment of compensation to the Landlord. In the event that any deductions exceed the amount of the deposit, payment of the balance will be requested from the tenants. If this is not forthcoming, we will advise on suitable action to recover funds owed.
The maximum security deposit allowable is equal to 5 weeks rent.
What if I want my property back?
On your instruction, we will serve the required notice, to inform the tenant that you wish for them to vacate the property. We will book a formal appointment to attend the property at the end of the notice period and conduct a final inspection. If the tenant's fail to vacate, on expiry of the notice, we will escalate proceedings to gain a possession order (Legal fees may apply).
Where would my property be advertised?
We advertise rental properties on Rightmove, our own website, social media and cross match to our applicant database.
Tenant FAQs
How do I report maintenance issues?
You can report any maintenance issues by contacting us on 01480 731750, emailing enquiries@squire-property.co.uk or by sending an enquiry through the contact page of our website. We will discuss the problem with your Landlord, seeking instruction to rectify. One of our trusted tradesmen will be in touch to arrange a suitable time to carry out the repair, or assess the problem.
If you have an emergency maintenance issue outside of office hours, please call 07999825853. Please note that this number is for emergencies only (urgent issues that cannot wait until our office opening hours).
Do I have to allow access to my property?
The tenancy agreement states that tenants should allow reasonable access when requested.
We may need to enter your property for a number of reasons: To carry out necessary safety checks, carry out routine maintenance, perform an inspection etc. We will contact you to arrange access or provide a minimum of 24 hours notice (except in case of emergency), if we need to enter the property. If a visit is not suitable, we will endeavour to arrange an appointment at a more convenient time.
What if I am unable to pay my rent?
Please contact us as soon you think there may be a problem and we will do our best to help. Please don't ignore the problem, or be afraid to speak to us. We can't help if we don't know what is going on. We will speak with your Landlord and make a suitable payment plan where appropriate. Depending on your circumstances, you may be entitled to financial support visit www.gov.uk or www.citizensadvice.org.uk for more information. If you are struggling with debt visit www.moneyadviceservice.org.uk
Can I keep pets?
You will need to gain written consent to keep a pet at the property. Please submit a request in writing and we will seek consent from your Landlord. If granted, we will issue a new fixed term tenancy or add an addendum to the existing one. A fee of £50.00 (Including VAT) will apply for requesting to alter the terms of your agreement.
If you have pets and are looking for a property to rent, ensure that pets are allowed before you view or apply.
Keeping pets without consent may result in notice being served, to end the tenancy at the end of your fixed term.
Can I redecorate?
We want you to feel at home in your rented property, but written permission must be sought before undertaking any redecoration or alterations. If permission is granted, decorating should be carried out to a professional standard and in some circumstances, you may be asked to return the decor to the original colour at the end of the tenancy. Please submit any request in writing.
Can I hang pictures, shelves or televisions?
Please seek written permission if hanging your items means making holes, or causing damage to the walls. If permission is granted, you may be asked to fill any holes and redecorate the wall in its entirety, to a professional standard at the end of the tenancy.
Do I need my own insurance?
Yes - You must arrange suitable contents insurance to cover your own belongings. The Landlord is only responsible for Buildings Insurance, and is not responsible for any damage to tenants items. If would like an insurance quote, please visit the insurance tab on our website, where we can introduce you to LetAlliance.
How does the tenancy end?
The tenancy does not just expire at the end of your fixed term agreement. The tenancy turns into a contractual periodic tenancy, meaning that it automatically continues on a "rolling" basis. If you wish to end the tenancy, you will need to give one months notice in writing, which will start from the day that we receive it. If you want to leave at the end of your fixed term, you will need to give your notice 1 month before the expiry date.
When we have received notice that you wish to end the tenancy, we will confirm this in writing, and send you details of what is expected when handing the property back. Towards the end of your notice period, we will contact you to arrange an appointment to inspect the property and collect the keys.
If you need to leave your property but are in a fixed term tenancy, you will still be liable to pay the rent and utility charges for the remainder of your agreement, but we may be able to release you from this liability, by finding a new tenant to replace you. Your tenancy will end on the day that they move in, but a charge (up to £100 including VAT) may apply to cover our costs incurred with re-letting the property earlier than anticipated.
If the Landlord wants their property back, they will instruct us to serve you with 2 months written notice. We will inform you by telephone and deliver the notice to the property.
A notice of possession may also be served for breaches of the tenancy agreement, or non-payment of rent.
Can someone be added, or removed from the tenancy?
If one of the named tenants wants to leave the tenancy, a new agreement will need to be drawn up and further referencing checks may need to be carried out, to ensure affordability for the remaining party. All original tenants remain jointly and severally liable for the terms of the tenancy agreement, until a new one is signed.
If you would like to add somebody to your tenancy, referencing checks will be carried out for all parties, and a new tenancy agreement will be drawn up in joint names.
A fee of £50 (including VAT) will be charged for any amendments to the tenancy agreement.