Property Management, Lettings in Epsom, Sutton, Ashtead, Leatherhead, London

Letting Property Safely

Offering a complete service from Let Only through to full Management of your property - call for details and to book a free appraisal:

Epsom Office 01372 722266 or email us
2 Upper High Street, Epsom, Surrey, KT17 4QJ

Corporate and Private Tenants

At Direct Residential we have extensive links with major banks and corporations to find accommodation for their executives. We also work closely with relocation agents to offer our landlords the best tenants on the market.

Through regular circulation of new instructions to our database of quality tenants and combined with our extensive procurement links, your property should not sit empty for long.

Marketing

Your property will be marketed to achieve the best possible rental for you. We do this by using the most prominent websites for property including Find a Property, Prime Location, Rightmove and in excess of twenty others, frequented by tenants. This is complimented by automatic property updates to prospective tenants, when we are instructed on a new property and regular advertising in local newspapers/distributions. Clearly covering every angle to reduce void periods.

Full Credit Checking - How Safe is Your Property?

We conduct thorough credit checks on all prospective tenants, through our associated professional company and reserve the right to decline any application in the interests of protecting a landlords investment. After all, your investment is very precious and we take our responsibilities very seriously to keep it in good order. Our rental arrears are virtually non-existent and rent insurance can be arranged if required.

Rental Guarantee

As Direct Residential only select the best tenants for your property, under our Full Management Service, we are able to offer a RENT GUARANTEE for 6 months. (This policy is offered subject to satisfactory references and status of the tenant and further charge).

Drafting of Leases and Useful Reminders

In addition to the supply and preparation of all the legal documents (Leases & Notices), we also provide our landlords with a lot of practical legal advice to make the process as smooth as possible, providing the best returns possible.

Buy to Let

Direct Residential also has strategic links with agents nationally to find investment properties. Please contact head office for an information pack and informal discussion of your requirements.

Dilapidations Deposits

A deposit equivalent to 6 weeks rent is usually taken and held in a Clients Deposit Account until the end of the tenancy (previously this used to be held by the landlord). This is protected by our registration with Tenancy Deposit Solutions. Upon vacating, we/the landlord re-inspect the property, then subject to no breaches of the agreement and proof of settlement for all utility accounts, the deposit will be refunded (if holding) usually within a maximum of 10 days (assuming there is no dispute).

Property Inspection

We inspect the property every 3 months of the tenancy under our Full Management Service. Our staff will carry out this inspection and a written report is then sent to the landlord to inform them of the condition of the property and any remedial action required.

Rent Payments

We collect rent on a calendar monthly basis, dependent on the start date of the tenancy. We pay out to landlords usually within one/two days once funds are cleared Rents are paid by direct transfer into the landlord’s account. Instructions can be taken to vary this payment date if necessary.

Repairs - Who Pays?

Repairs can be organised by our office based on the landlords instructions and are consulted regarding any amounts in excess of £250.00. We undertake to ensure all repairs are genuine and carried out by competent professionals. Full details are provided in our information packs.

Association of Residential Letting Agents (ARLA)

We are 100% accredited members of ARLA – the benchmark of a professional agency.

Tenancy Deposit Solutions

We subscribe to the above for the management and protection of a tenant's deposit.

Charges

You will find our charges to be more than competitive with discounted rates for managed properties, we also offer special incentive rates to landlords of multiple properties (three or more) please feel free to contact us to arrange for a free market appraisal to discuss our charging structure further.

Mortgages

We are able to offer financial advice through our associated partner to ensure you have the best possible mortgage and gearing arrangements. Please call head office 01372 722266 or email us

Management Guide - Terms & Conditions

Direct Residential offer a free and informative management guide that can help all prospective landlords through the complicated and sometimes difficult process of understanding the rental procedure. Please call to arrange a free appraisal of your property where we can provide our information pack full of industry information and helpful suggestions including tax deductible costs.

For further information please call 01372 722266 or email us

Request a Valuation

Services & Safety

Whether requiring a Letting only service, Rent Collection or Full Management Services, Landlords have the responsibility for the safety of both the Tenant and their own property during the tenancy.

Maintenance and Preparation

We employ our own team of workmen to prepare properties for letting and general maintenance along the way. We can undertake a small decorating job right through to full refurbishment. Please call Head Office on 01372 722266 should you wish us to provide a quotation.

The following regulations must be adhered to without fail by the Landlord and as Agents we must ensure that they are carried out.

Fire and Furnishings (Safety) Regulations 1988 (1993)

All soft furnishings such as settees, sofa, beds, padded chairs, pillows cushions and so on must comply with the Fire Resistance requirements contained within the regulations.

Items of furniture made prior to 1950 are termed as antiques and as such are excluded from the regulations.

Usually a label is attached to the item of furniture to confirm it is acceptable. We will at all times check your furniture and advise you accordingly to the best of our ability.

Gas Safety (Installations and Use) Regulations 1994 (1996)

A qualified Engineer (CORGI or British Gas) must also check all gas appliance and installations within the accommodation, on an annual basis for its safe use.

This includes such items as Gas Fires, Central Heating boilers, Gas cookers and other gas appliances. It also insists that flues and chimneys are clear of obstructions and in the correct place.

The engineer must issue a certificate and a copy presented to the Tenant at the start of any tenancy.

Any items that fail to comply with the regulations must be fixed or removed immediately.

The Electrical Equipment (Safety) Regulations 1994

These regulations require that all Electrical equipment left at the property be ''safe and of no risk or injury to human or animal''.

They should be checked that flexes, fuses and electrical out put are safe and correct. Items that must comply are all portable electrical items such as electric cooker, fridge’s, washing machines, kettles, toasters, etc.

As agents we cannot guarantee which items are safe or not and will recommend that a qualified electrician checks these items (a charge will be made). This can be carried out by your own electrician.

Alternatively, we can arrange for your property to be compliant

Please call us on 01372 722266 or email us at lettings@directresidential.co.uk to arrange this service for you.

Cleaning

We can also arrange for your property to be professionally cleaned prior to the commencement of a tenancy or at the end. Please call head office on 01372 722266.

Insurance Services to Landlord and Tenants

The financial rewards of letting your home or a flat can, at first sight, appear to be outweighed by all the regulations you need to comply with and by the various risks involved. However, this is not necessarily the case; a good knowledge of what you are doing, good management and a good insurance package will take care of most eventualities, not just as a landlord, but also as a tenant.

There is no law which says you must carry insurance as a landlord, or as a tenant, but you'd both be very foolish not to. If you have a mortgage your lender will almost certainly insist that the property is properly insured, whether living in your own home or your rental investment. Also as a tenant, you may wish to hold contents insurance to protect your own possessions as well as protect the landlord’s against possible accidental damage.

Policies are now available to cover almost every conceivable eventuality, from a slate falling off the roof and injuring a passerby, to tenants damaging your property, or you having to re-house tenants following a fire or flood.

It is important to realise that normal household insurance policies are not suitable for letting. You need a policy which is specifically designed for letting and one which covers several additional risks.

Landlord's policies for residential letting are now very competitive and there is little difference in cost from normal household policies. Many packages are available readymade and off the shelf from very reputable high profile insurance companies and can be purchased quickly by utilising our associated company A-Plan.

As more and more people let properties, policies have developed to cater for the landlord and tenant’s needs and can often be extended just as required, for example:

Building and landlord's contents
Tenant’s contents
Public and occupier liabilities
Loss of rental and the cost of re-housing your tenant in the case of a fire or a flood
Cost of hotel accommodation if your tenant refuses to leave on time
Loss of rent if the tenant does not pay
The cost of evicting a bad tenant
Malicious damage and vandalism by tenants and others
Emergency repair services
General legal costs etc

Information provided here is by definition general in its nature and is not intended as a substitute for specific legal advice.

Direct Residential Property Investment Club

Direct Residential has many years experience at identifying Investment Opportunities to offer to landlords and can assist with the analysis and selection.

With extensive knowledge and experience in the property management and lettings business and through procurement links, we are delighted to offer a small selection of chosen properties. Naturally these change on a regular basis and we should be contacted to obtain an up to date list.

Buy to Let

Buy to Let has seen phenomenal growth since its launch in 1996. By the middle of 2003 there were 334,800 loans outstanding, worth £31.29 billion.

Buy to Let has contributed to the recovery of the private rented sector over the past decade and has increased the number of individuals who are landlords, ranging from first-time landlords to professional investors with significant property portfolios. Lenders’ experience of Buy to Let has so far been very positive, with very low levels of default and very few repossessions. Buy to Let continues to be an attractive option for investors, particularly at a time when stock market returns are looking uncertain. But borrowers need to view Buy to Let as an investment for the long term, over which it offers prospects for both capital growth and income.

Up-to-date figures dispel the notion that Buy to Let has run its course.

There is even a new sub-sector in the shape of Rent-to-Buy that hopes to bridge the gap between renting and home ownership and provide solutions for first time buyers. Meanwhile the support for the Private Rented Sector by investor landlords is steady – without the need for dramatic headlines – and tenant demand continues to grow. As well as the obvious success of an investment that is both controllable and understandable, Buy to Let has had a significant effect on the rental market as a whole.

Since the advent of Buy to Let seven years ago, renting a home has become socially acceptable again and many now choose to rent for may reasons other than fur purely cash considerations.

Today, the Private Rented Sector is able to offer genuine choice in housing – and it was to bring that choice to the housing market that led ARLA to launch Buy to Let in the first place.

An Investor Should..

Plan to be a Buy to Let Landlord over the medium to long-term as it is an investment that produces a variable combination of rental yield and capital appreciation
Make an objective business decision when purchasing a property based on research of the needs and requirements of the local market, not based on personal taste
Be aware that the rental market is fast-moving with fluctuating supply and demand. This can influence achievable rental levels and occupancy rates
Take informed advice from both professional letting agents and specialised financial advisers from the beginning

A Lender Should...

Conduct a thorough analysis of affordability and not lend more than you can afford to repay
Undertake a professional assessment of the security and the reasonableness of the forecast rental income
Provide clear information on Buy to Let products and services and on your obligations as a borrower
Explain what to do if you get into difficulties with mortgage repayments

A Letting Agent Should...

Demonstrate a comprehensive understanding of the legalities, regulations and obligations which apply to landlords, tenants and agents
Be able to competently explain the areas predicted for growth nationally
Provide realistic and up-to-date guidance on supply and demand based on a detailed local knowledge of the market
Hold professional indemnity insurance, separate client accounts and a client money bonding scheme, and employ trained, qualified staff
Have access to a complaints process over the service standards of letting agents and to procedures for resolving disputes over deposits between landlords and tenants

The Do's and Dont's of Buy To Let

DO think of Buy to Let as a medium to long-term investment
DO seek advice from a letting agent on local/national market demands
DO get your sums right. Will the rent cover borrowings and costs, after allowing for void periods?
DO decorate, fit out and furnish to high standards, especially kitchens and bathrooms, to attract the best tenants and let quickly every time
DO use your letting agent. They are bonded, hold professional indemnity insurance to required standards, have staff trained to competent standards and are kept up to date with the latest legal and regulatory requirements
DON’T let personal taste cloud your judgement. Be sure the property you choose meets market requirements
DON’T purchase anything with potential maintenance problems such as a lot of woodwork or large garden. It will add nothing to the rental value and cost a lot to keep up
DON’T think that the running of an investment property to let can be left to friends or relatives in your absence. Tenants require a full management service
DON’T use off-the-shelf tenancy agreements from HMSO or law stationers, forget to issue the right notices or fail to have a property inventory and condition report made before a tenant moves in. Leave all documentation to a professional agent
DON’T furnish with second hand furniture or cast-off soft furnishings. These will probably contravene the furniture and furnishing regulations