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Landlord guide & costs

Choose the agent you trust

To take care of your valuable assets

Your assets in good hands

As a landlord, it is not enough simply to achieve the best possible rent for your property. You also want to ensure the keys to your precious asset are in the hands of a responsible tenant.

Equally important, you want to avoid costly vacant periods between tenancies so that is why you need an estate agent you can depend on and you will find there is no one better than the multi award-winning Northfields team.

Here are some of the reasons why you should choose Northfields Estate Agents:

A well-deserved reputation for letting properties fast– 60% of new properties are let within 24 hours of instruction

Maximum exposure with listings on the main leading property websites

A relocation department that works with top global companies to secure corporate tenants

An extensive database of prospective tenants who we communicate with regularly via phone, email and Facebook

Prominent, highly effective press advertising

Professional memberships give you the reassurance that you and your tenants are fully protected

Total transparency when it comes to fees; you know upfront how much the service will cost and what you can expect for your money

Unrivalled service

The Times/The Sunday Times voted Northfields the Best Small Lettings Agency in London for the second year in a row. We invite you to judge for yourself by emailing or calling your local Northfields team.

Property Management

High quality tenants looking for property to rent in West London expect the best service and we are proud to be able to deliver just this. Our award-winning service will leave you comfortable in the knowledge that your property is in safe hands. We have over  30 years of experience of professionally managing our clients’ properties, preserving the value of their investment and tailoring our services to each landlord’s specific needs. Our dedicated lettings teams place great emphasis on landlord care and value the long-term relationships we have built, the majority of which date back over five years. Our service ranges from handling minor repairs to full-scale refurbishments, extensions and conversions using our network of reputable local tradespeople. We also deal promptly and professionally with tenant queries and the day-to-day issues that inevitably arise, saving you headaches and ensuring your tenants feel well looked after. As part of our efficient service, we perform daily rent reconciliations that enable us to take swift action on any late payments. As you would expect, we enforce rigorous financial controls to ensure the accuracy of financial information and timely transfer of payments to landlords. Comprehensive property management services include:

  • FREE rent collection
  • FREE periodic property inspections
  • FREE inspection report with photos
  • FREE 24 hour emergency call out service
  • FREE advice on deposit returns
  • FREE advice on property investment opportunities

If you’d like the peace of mind that comes from knowing your property is in the safest of hands, call us today on 020 8799 4362 or email [email protected]

Landlord Charges

Lettings Fees paid by Landlords   Letting and Rent Collection 12% inc VAT (10% plus VAT) of the monthly rent taken each month from the rent payment for as long as the tenant, introduced by Northfields, remains in the property. Full Management 18% inc VAT (15% plus VAT) of the monthly rent taken each month from the rent payment.

All fees include VAT unless otherwise stated

Deposit Registration with the TDS – £8 per month Serving of Legal Notices – eg Section 21 notice to end tenancy – £240 per notice Waiting at the Premises – £72 per hour Void Period Caretaking Visit – eg to collect post or water plants – £30 per visit Court or Tribunal Attendance – £60 per hour TDS or Court Documentation Preparation – £114 per file Forwarding of Tax to CNR – overseas landlords where approval not received – £42 per quarter Tenancy Agreement – for new tenancies – £300 per tenancy Renewal Documents – for tenancy extensions or confirmation or periodic – £120 per renewal or annual if periodic Addendum to Tenancy – for mid term changes to the contract – £120 per tenancy Additional Property Visits – £72 per half hour (Full Management Service Only) Insurance Claims – 12% inc VAT (10% plus VAT) (Full Management Service Only)

Security & Protection for landlords

A Zero Deposit Guarantee can replace a traditional tenancy deposit, giving landlords the same cover and protection as having a tenancy deposit in the bank, whilst making renting more affordable for tenants.

Tenants pay the equivalent of one week’s rent for a Zero Deposit policy, which is non-refundable and gives you effectively the same cover as a 6-week tenancy deposit. Tenants remain fully accountable for any damages or unpaid rents.

In the event of any financial loss or damage due to you, this is settled by the tenant or if they dispute the claim the evidence is sent for expert evaluation. If found in your favour, we settle the claim with you and recover the costs from the tenants directly, along with any recovery costs. Non-payment by the tenant at this stage may impact on the tenants credit history.

 

Why would landlords choose Zero Deposit?

Speeds up the rental process

Zero Deposit helps tenants reduce the upfront cost of renting, which can help speed up the process and reduce void periods.

Provides security & protection

A Zero Deposit Guarantee provides effectively the same cover as a 6-week tenancy deposit and is underwritten by Great Lakes Insurance SE.

Helps to attract a wider audience

By giving you the potential to attract a wider audience of tenants, you can increase demand and reduce the time taken to rent.

Supports accountable tenants

Tenants remain fully accountable for looking after your property and making rental payments, with us only making payment to you in the event of a fair claim at the end of the tenancy. Claim disputes are settled by The Dispute Service (TDS) and we will pay you within two working days.

Reduces paperwork & hassle

A Zero Deposit policy is not a traditional deposit, so it doesn’t need to be registered with one of the deposit protection schemes, which can save landlords time and money.

 

To help make your property stand out to the widest possible tenant audience speak to a member of our team or for more information visit zerodeposit.com or call 0333 200 2541

Zero Deposit is a trading name of Global Property Ventures Limited, the head office of which is at Business & Technology Centre, Bessemer Drive, Stevenage, SG1 2DX (company number 10328435). Global Property Ventures is authorised and regulated by the Financial Conduct Authority and can be found on the Financial Services Register (firm reference number 797026).

The Zero Deposit Guarantee is provided by Great Lakes Insurance SE, UK branch office. Great Lakes Insurance SE is a German insurance company with its headquarters at Königinstraße 107, 80802 Munich. It is registered with the commercial register of the local court of Munich under number: HRB 230378. The UK Branch office is at Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Great Lakes Insurance SE UK Branch is authorised by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority.