Residential Property Management Service   - 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.