Residential Property Management Service
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What we do
Visit the property and with a view to ensuring
that it is being maintained in accordance
with the provisions of the lease agreement
relating to both landlord and tenant responsibilities.
Frequency of visits would not normally
be greater than 3 times per year.
Arrange for
the repair of items which it
is the duty of the landlord to maintain
under the lease.
Supervise the move-out of
departing tenants and the re-letting of the
property. The
property being vacated is inspected; meters
are read;
final utility bills for departing tenants
are arranged; tenant security deposits
are refunded; the property being vacated
is upgraded
to a level required to attract new
tenants.
As most rents are now electronically
transferred from Tenant to Landlord,
Capel Abbey does
not usually provide a collection
service. However, when we are alerted by landlords
to a breakdown in rental payments
we
respond by investigating and seek
to resolve the
problem.
The cost of Property Management
is 8% of the monthly rent. Properties
under
management
benefit from a reduced letting
fee of 5% of annual rent achieved. Tradesmans
bills
are not included in Capel Abbey
fee
and
are billed seperately - tradesman's
costs are
all submitted for advance landlord
approval. Sometimes, if a property
requires a substantial
upgrade a seperate Capel Abbey
management fee is negotiated for the supervision
of this work.
Capel Abbey fee is
subject to VAT at rate of 21%. All fees are
fully allowable
as an
expense agains taxable rental
income.
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