Our Management Service
Lexingtons offer a management service for your property, for an additional fee of 5% + VAT, which is collected as the rent is paid by the tenant.
Our Management Service Includes:
- Arranging for a standing order for the tenants’ future rental payments to be paid into our client’s account and monitoring the frequency of these payments.
- Deducting our commission and depositing the balance from our client’s account into your bank account.
- Promptly dealing with any maintenance and repair issues, should any occur during the term of the tenancy.
- Preparing and emailing you a Statement of Account upon receipt and subsequent deposit of any rental payments.
- Maintaining a float of £250.00 in your account to deal with any minor works or repairs.
- Where there is an expense, above £250.00, we will contact you prior to instructing any contractors, except in case of any emergency, and account for any such expense in your statement of account.
Additional Management Charges
- Opening a client’s account with our bank, to receive rental payments from your tenant (£50.00 +VAT)
- Prepare Annual Accounts and submit them to the Inland Revenue confirming your Annual Rental Income and Expenses (£100.00 +VAT)
- Liaise with your appointed accountant and forward any financial details that he/she may request (£50.00 +VAT)
- Assistance in completing a HMO or similar application on your behalf and attending to a property inspection, this service is chargeable at a minimum of £200 plus VAT.
- Optional inspections of your property and preparation of a property condition report with photographs during the term of the tenancy. This service is chargeable at a minimum of £200.00 + VAT per visit requested.
- Should Lexingtons have to assist in any insurance claims for repairs to your property, we will liaise with the insurance company and keep you informed by email, as well as providing quotations for any works and managing any workman during the course of these works. For this service an additional fee of £250.00 +VAT and 10% of the cost of the works is payable for managing the insurance claim.
- Should you require Lexingtons to manage your flat during a vacant period, we will visit and check your flat, collect any post, email and pay your utility bills at a cost of £100.00 +VAT per month plus the cost of the bills.
Call us on 0207 435 7775 or Click here to contact us.