Jon Rosi Management

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Lettings & Management

We are able to offer a full range of services to all respective Landlords. As we are well aware Landlords’ requests may vary and we are only too happy to meet your requirements. Our premises are conveniently situated within the very heart of Reading’s bustling and expanding town centre. We are also able to offer information and services relating to sales and purchasing of investment properties giving Jon Rosi Management a commanding place in the letting market. We are aware that not everybody can be held to normal working office hours. It is our aim to go beyond these hours and give Landlords and tenants information and services second to none. Our advice and knowledge is always available.

SERVICES WE PROVIDE:
We offer three levels of letting and management. The type of service you choose should be determined by your situation and exactly how much involvement you wish to have in the management of your property. If you are unsure of which service meets your requirements advice is at hand.

LETTING ONLY - An Introductory Service:
For this service we will:
1. Consult and advise you on rental value and acknowledge your request of tenant.
2. Advise you on current legislation and Landlord’s obligations.
3. Market and advertise your property.
4. Organise and liaise all viewings accompanying all prospective tenants if required.
5. Fully vet and reference all Tenants where applicable.
6. Collect the first month’s rent and holding deposit (equivalent to 1½ month’s rent) prior to tenancy commencement.
7. Organise and prepare an inventory of the property. (Optional and subject to an additional charge.)
8. Organise a check-in against the Inventory at the property. (Optional and subject to an additional charge.)
9. Inform the relevant utility companies (Subject to information provided.)
10. Set up monthly Standing Order from the tenants to Landlord’s account. (If applicable and requested.)
11. Prepare Tenancy Agreement and arrange for tenant’s signature at our office. (Optional and subject to an additional charge.)

LETTING AND RENTAL COLLECTION SERVICE:
This service is initially set up in the same manner and with the same procedures as with the LETTING ONLY service. This enables the Landlord to manage his own property whilst alleviating the responsibility of rent collection. Rentals will be collected via Jon Rosi Management on a monthly basis and paid over to the Landlord along with a monthly statement.

FULL MANAGEMENT SERVICE:
This service is also initially set up in the same manner and with similar procedures as in LETTING ONLY and LETTING AND RENTAL COLLECTION SERVICE. Full management is the complete package allowing Landlords to take advantage of all our services along with our skills in tenant and property management. It is highly recommended for Landlords going overseas or living long distances from the property in question. Local Landlords with more than one property may wish to choose this option, certainly if the property has been purchased for long-term investment.

Additional full management and services are:
1. Property inspections and reports initially after the first three months of tenancy occupation, with subsequent inspections determined by length of tenancy.
2. Repairs and maintenance organised and undertaken on behalf of and with Landlord’s authority. (Landlords are able to nominate preferred contractors or allow us to appoint contractors on their behalf.)
3. Liaise and organise with Landlords and Tenants for renewal and extensions of Tenancy Agreements.
4. Communicate with Landlords and Tenants regarding all aspects in connection with the property let.

Please note if our agency is acting for you under our Letting and Rental or Full Management Service, the start date of the tenancy will generally indicate the rent due date which is the date that funds should leave the tenants account. Whilst we will endeavour to pay all rental monies to you promptly, please be aware that due to bank clearance times, accounting the money as a guide may take up to 14 days (to allow for weekends and bank holidays) from the original rent due date. However you may find that these rental funds are cleared sooner depending on which bank your account is held.

INVENTORIES
As a Landlord you may be asking yourself is an Inventory really necessary. We would highly recommend that all properties let have current and up-to-date professional Inventories drawn up prior to tenancy commencement. Whether the property is furnished or unfurnished a full listing and detailed account of the property’s fixtures, fittings, appliances, decoration and condition will be compiled. This is then used to determine whether any deductions (if any) with regard to dilapidations should be made from the tenant’s holding deposit. In the event of tenants querying deductions, the Inventory can be used as evidence. Fair wear and tear must be taken into consideration.

We would recommend that tenants be initially checked–in against the Inventory to the property on the onset of the Tenancy Agreement. It is then imperative that the tenants are checked out of the property and a report compiled at the end of the tenancy. Inventories, check-ins and check-outs can be conducted by the Landlord or organised via our agency.
Inventory preparation, check in charges check out charges will vary depending on the size of the property.

CONSOLIDATED TAX REPORTS:
At the end of the Financial Year, i.e. 5th April, we can generate a Consolidate Tax Report (CTR). The CTR will not only show what rental incomes have been received on your managed property, it will also show and categorise all outgoing expenses handled by your agency over that tax year. Obviously the CTR will not show any mortgage payments or any other payments made by yourselves as Landlords that have not been handled through our Agency which may be tax deductible.

TENANCY AGREEMENTS:
One of the most important things with regards to letting, is the Tenancy Agreement and in nearly all cases will be an Assured Shorthold Tenancy. We recommend that these agreements be for a 6 month or a 12 month period only and would advise Landlords to use a 12 month tenancy incorporating a break clause for the either party, at the 6 month point, giving reasonable flexibility to Landlord and Tenant alike. Although it is law that Landlords must give Tenants at least 2 month’s written notice prior to a rent due date if they wish to seek possession of the property. Our tenancies are currently up-to-date with the 1988 Housing Act as amended in 1996 and 2004. Landlords have the right to supply their own Tenancy Agreements or have a solicitor draw one up on their behalf, although we recommend using ours.

ENERGY PERFORMANCE CERTIFICATES (EPCs)
Energy performance certificates (EPCs) will provide prospective tenants with an assessment of the properties energy consumption rating. This is similar to an appliance efficiency rating. It is now law that any prospective tenant / purchaser should be given a copy of an EPC relating to the property. Under current legislation the EPC will be valid for ten years (However if significant changes to the energy performance of the property are made, a new certificate will have to obtained). Failure to supply an EPC to a prospective tenant may lead to prosecution by the Trading Standards Department of the Council and can currently incur a fine of £200.00. It is the landlord’s responsibility to ensure that an EPC is available. If you would like our agency to organise a Licensed Domestic Energy Assessor to carry out an EPC we can do so.

DEPOSITS:
It is usual for our agency to request that the Tenant pays a deposit against the property they are renting. This deposit is usually equivalent to one and a half month’s rental. As from the 6th April 2007, a new law took effect concerning the way deposits can be held. There are heavy penalties to Landlords and Agents who do not comply with the deposit schemes and/or their terms and conditions. There are currently only three recognised ways of holding deposits.

Please find these listed below:

1. The Dispute Service (TDS). www.tds.gb.com
2. The Deposit Protection Service (TDPS). www.depositprotection.com
3. Tenancy Deposit Solutions Ltd (TDSL). www.mydeposits.co.uk

Please use the website address as detailed above for further information concerning the schemes. Jon Rosi Management reserves the right to use any one of the three schemes listed above and are happy to offer advice with regard to this.

Jon Rosi Management currently use The Dispute Service (TDS)

THE GAS SAFETY (INSTALLATION AND USE)
REGULATIONS 1994
It is law that Landlords are required to supply a Gas Safety certificate for all gas appliances connected with the property to be or already let. These are known within the trade as CP12’s and must be issued by a GAS SAFE ( formerly Corgi ) Registered Contractor . These must be carried out annually thereafter for as long as the property is let.

FURNISHED OR UNFURNISHED:
It is entirely up to the individual Landlord if he wishes to furnish a property to let. It is fair to say since the introduction of the Furniture and Furnishings Regulations 1988, Landlords have tended not to supply furnishings, although there is not a great deal of financial difference between furnished and unfurnished properties. Most companies looking to rent a property to house employees tend to prefer furnished. If you are in doubt as to whether you should furnish a property and to what level of furniture consult our office we are only too pleased to help and advise.

FURNITURE AND FURNISHINGS (FIRE) (SAFETY)
REGULATIONS 1988:
All furniture in this country bought new after 1989 should comply with current Fire and Furnishing Regulations. If you have any doubt regarding furniture compliance and you have no certification to its compliance, we recommend it is removed from the property. Breach of the regulations carries heavy penalties to the Landlord such as a fine of up to £5,000, a six-month imprisonment or both. Look for the kite mark or labels of compliance on the following items, which must comply:

• Beds, headboards, mattresses, sofa beds and futons.
• Nursery furniture.
• Garden furniture (which is suitable for use in a dwelling).
• Sofas, chairs, including dinning chairs if padded.
• Scatter cushions and seat pads.
• Loose and stretch covers for furniture.
• Any other soft filled items of furniture or furnishings.
Regulations DO NOT apply to carpets and curtains or furniture made before 1950.

ELECTRICAL ITEMS:
It is becoming more common for Tenants to expect Landlords to provide white goods when letting a property. White goods usually consist of a cooker (gas or electric), fridge/freezer and a washing machine. Although this is not a necessity to secure a let, we feel it gives the property an advantage. You may or may not decide to leave further electric appliances e.g. vacuum cleaner, iron or microwave etc.

ELECTRICAL EQUIPMENT (SAFETY) REGULATIONS 1984:
Electrical Equipment Regulations 1994 require electrical equipment, including the wiring to be safe. There is no mandatory requirement at present for equipment to be checked (although this could change), nor any stipulations as to how often the electrical supply or appliance might need to be checked (except for houses that fall under the HMO legislations). However it is recommended that all electrical portable appliances are PAT tested annually and all electrical installation to a have a periodic inspection report (PIR) every 5 years. If you have doubts regarding electrical wiring, appliances and their safety our advice is to consult a qualified electrician.

HOUSES IN MULTI OCCUPATION (HMO):
Under the changes in the Housing Act, the term “House in Multiple Occupancy (HMO)” is defined in Section 254 and 257 of the Housing Act 2004. There are 6 Types of HMO’s recognised in Reading. We would advise that you look at Reading Borough Councils website at www.reading.gov.uk to establish if your property falls under the HMO criteria. Your property may require planning, licensing and/or also need to meet certain legislation compliance, (i.e. smoke alarms, electrical tests, emergency lighting, fire doors etc). Failure to meet these requirements may result in substantial fines and prosecution. Whilst Jon Rosi Management are able to offer advice and assistance with regards to HMO’s we cannot be held liable for landlords that do not meet all criteria and planning regulations as set out in the HMO guidelines.

MORTGAGED PROPERTIES:
If the property is mortgaged or has a charge over it, you will normally have to request in writing permission from the lender to enable you to let the property. Banks and building societies may vary in the stipulations. If any information is needed from our agency we are only too pleased to help.

TAX:
We strongly recommend you seek advice from a qualified accountant with concerns over tax. There are a number of items that are tax deductible when letting your property.

OVERSEAS LANDLORDS:
If you are going abroad and will be classed as an Overseas Landlord under the Taxes Management Act 1970, the Landlord or person or agent for the Landlord collecting the rent is duty bound to pay the tax on a quarterly charge direct to the Inland Revenue. Tax is currently calculated at 20% of the income. Landlords can apply for an exemption certificate and only when the agent collecting the rent receives written confirmation direct from the Inland Revenue can the said agent pay all rentals to the Landlord without deduction. All persons party to ownership must apply separately including husband and wife. This does not exempt you from tax, and the Inland Revenue will require the Landlord to submit an annual statement of income and expenditure and net tax liability. If you think you will be regarded as an Overseas Landlord please contact our office or your local tax office for the relevant application forms.

INSURANCE:
Adequate cover must be in force for both buildings and contents insurance prior to the beginning of a Tenancy Agreement and kept up throughout the term of let. Landlords MUST ensure that their insurance agents are aware that the property is let. Contents and buildings cover must be assessed accordingly. If you would like quotes for contents and building cover we would be only too pleased to put you in touch with an insurance company who specialise in Landlords insurance.

RENT GUARENTEE AND LEGAL COVER
As a Landlord you may have concerns if a tenant should default on their rental payments or in extreme circumstance you have to seek possession through the courts. Whilst as an Agency we will do our best in referencing the proposed tenants, this cannot guarantee that the tenant would always be in a position to meet the rental payments. Even the best of tenants could fall on hard times. In fact most rent defaults are due to an inability to pay when circumstances change, rather than a refusal to pay. Reasons can include unavoidable events like loss of a job, relationship breakdown, or long term sickness. Whilst you may be sympathetic to the situation, as a Landlord you may still need the money to pay your mortgage. If you are going to have concerns regarding this we are able to obtain a quote for an insurance policy to cover for rent guarantee and/or legal costs incurred in evicting a tenant as a result of non-payment. These products and policies may be more affordable than you may initially think. Please speak to a member of staff for more information.

SUMMARY:
This brochure has been designed as a guideline for information only. It is our intention at Jon Rosi Management to offer Landlords a choice on how your property is let. Should you decide to instruct us with the letting or management of your property we will do our utmost to provide the best possible service we can to give you peace of mind. We value all business and take nothing for granted. Please do contact our office if you require any further information. We look forward to your valued instruction.

Please Note:
Some of the service listed above may incur charges in addition to those set out as our letting only, letting and rental and full management fee. Please contact us for our full listing of charges and to organise a valuation of your property. All our charges are subject to VAT and change.

Please call our office on

0118 9511 011

or visit us at

50 London Street, Reading, RG1 4SQ