Many people feel that 'High Street' estate agents are very expensive, typically charging "full management" rates of 15% or "let only" rates of 10%. You could expect to be charged extra for the tenancy agreement and inventory, and duties over and above what would be considered standard management of the property i.e. overseeing major constructions and works of this nature.

We offer a high quality lettings agency service at an extremely attractive price. 

Although we do not have a high street office we offer the complete lettings agency service; advertising, viewings, referencing and all other activities carried out by an established agent. 

We have many years' property letting experience - our directors have been personally involved in buying, selling and renting out properties since 2000, and continue to manage a portfolio of rental properties on a day-to-day basis. This means that we can help you establish and manage your tenancy whether you are a new landlord with your first buy-to-let property or you are an experienced landlord with an extensive property portfolio.

Why do I need an agent to let my property?

There are many private landlords successfully letting their own property. Having a property to let and finding someone who wishes to rent it may appear simple and possibly is. Unfortunately, the matter does not end there. The professional agent will have experience in marketing property, selecting the right tenant, taking up essential references, advising on the standard of the property, advising on all safety aspects, drawing up tenancy agreements under the Housing Act 1988 or otherwise, creating inventories and schedules of condition, changing of services to tenant’s names and ensuring receipt of cleared funds. Once a tenant has possession of a property, it is too late to decide that you may have accepted the wrong person.

Why do I need my property managed in my absence?

Landlords often consider that their parents or a friendly neighbour will be able to manage their property as they know contractors for maintenance. This, however, is by no means the only concern. Letting the property is one area and management is another. This involves demanding and collecting rent on a regular basis and ensuring that rent continues to be paid for the duration of the tenancy; visiting the property on a regular basis to ensure that the tenants are taking care and checking for any general maintenance which might be required; arranging maintenance matters, surveillance of contractors and settlement of accounts; renewals of tenancies; advising on tax matters and allowances. Assuming that the tenancy runs smoothly the managing agent will be well able to deal with the above matters. The professional agent will know how to deal with problem tenants who perhaps wish to make deductions from the rent, do not pay the rent at all or who will not leave at the appropriate time.

What services do Edward Ellis & Co offer?

We offer a full management service, a "let only" service for landlords who only require an agent to find and reference prospective tenants, and a DIY service for landlords who wish to find their own tenants. Full details of these services follow:- 

1. Full Management Service: £250 + 7.5% monthly rent

We offer a full management service which requires no day-to-day involvement from the landlord. We advertise for a suitable tenant, deal with all the required referencing and legal agreements, maintain the property and collect the rent. At the end of the tenancy we conclude the formal arrangements.

In detail our services are as follows:-

Setting up the tenancy

During the Tenancy

At the end of the tenancy

Edward Ellis and Co's charges for the full management service are an establishment charge of £250 plus an ongoing charge of 7.5% of the monthly rent. 

2. Let and Rent Collection Service: £250 + 5% monthly rent

This service suits landlords who require an agent to find and reference prospective tenants and collect the rent.

In detail our services are as follows:-

Edward Ellis and Co's charges for the let and rent collection service are an establishment charge of £250 plus an ongoing charge of 5% of the monthly rent. 

3. Let Only Service: 75% of one month's rent

This service suits landlords who only require an agent to find and reference prospective tenants.

In detail our services are as follows:-

Edward Ellis and Co's charge for the let only service is 75% of 1 month's rent (minimum charge £250). There is no ongoing charge. 

We offer a discount to those landlords who are happy to show prospective tenants around their property, reducing our initial fee to 50% of 1 month's rent. 

4. DIY Service

Some landlords prefer to find their own tenants.

We are happy to reference, draft a Tenancy Agreement and check-in these tenants for a one-off fee of £100.

We are also happy to take over the management of an existing tenancy, or manage a tenancy where the landlord has found a tenant, for 7.5% of the monthly rent or 5% for rent collection only. There is no initial fee in these circumstances.

Available at extra cost

Many agents charge a large administration fee and delapidations deposit (typically 6 weeks' rent) to the applicant. This makes the property very expensive in the first month, and encourages applicants to seek property through private advertising where charges are often lower. We recommend a delapidations deposit of no more than 1 month's rent, and we charge a modest administration and referencing fee of only £75 per applicant (£125 for a couple). 

Alternatively, for those tenants unable or unwilling to pay a deposit, we can arrange a suitable policy of insurance to protect the landlord in the event of any default by the tenant. The tenant fees for this are a modest £160 per applicant (£245 for a couple).

These charges are not currently subject to VAT.

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