What documents do I need to show in order to rent a property?
Passport, Visa or BRP card (or any form of Right To Rent in the UK). The referencing company may ask you to provide bank statements and proof of address. The referencing company may also contact your employer and current landlord.
Do I need a guarantor?
Applicants need to have an income (if more than 1 tenant, can be combined) of at least X2.5 their share of the annual rent in. If the tenant(s) cannot show evidence of 2.5 x their share of the annual rent, a guarantor will be needed in order to pass references. The guarantor (can be more than 1 but no more than 3) will need an income of at least X2.5 the annual rent.
How long does the process take to rent a property?
Usually the process can take up to 2 weeks from the first viewing until the handover of keys & signing of the contract. Some properties may take longer due to works scheduled post tenancy or other delays such as current tenant vacating date. We always aim to be as efficient and quick as possible.
What payments do I need to make prior entering a property?
1 month rent in advance and 5 weeks deposit (for annual rental over £50k, 6 weeks deposit is taken) is taken prior to entry of any property. The funds must be cleared 3-4 days prior to move in date
Am I eligible to rent in the UK (to include EU residents)?
Applicants need to prove their right to rent by applying via the government link for prove right to rent and providing us with their unique share code.
Are properties professionally cleaned prior entry?
Yes, in most cases all properties are professionally cleaned prior to entry. Most landlords request that Kingsleys organise with a professional cleaning company, however some landlords deal with this themselves
Who does the reference checks and how does it work?
The referencing company we currently use is called Diligent (http://www.diligentservices.co.uk/) they contact the applicants once the Reservation Bond has been paid and signed. They send an email with a link to an online form to the applicant and guarantor (if applicable). Once the form has been filled in and submitted, the referencing company will contact HR, current employer and current landlord. They might ask for some bank statements and utility bills for the reference checks
Do you offer some sort of protection for landlords?
Yes, the referencing company we currently use, offers a Rent & Legal protection for landlords at an annual fee. Rent & Legal Protection for 12 months which comes with the following benefits:
- Nil excess and covers loss of rent for up to 5 months.
- Covers up to £3,000 per month should the tenancy fall into arrears.
- Covers legal expenses authorised/incurred by Diligent, including court costs to obtain vacant possession following non-payment of rent (total combined benefit up to a maximum of £25,000).
- Available where the approved tenancy term is greater than 6 months.
- Available for tenancies commencing up to two months in the future.
- Can be purchased up to one month less a day after the tenancy start date without any special terms and conditions being applied.
- Protection for up to 12 months and can easily be renewed.
Who do I contact if there is an issue in my managed property?
We have a management form on our website in the property management page. Our management team will do its best to answer you query. Additionally, you can contact us on firstname.lastname@example.org or on 020-8455-3333
As a landlord, what are the benefits of getting Kingsleys to manage my property?
When a property is let and managed by us, the landlord gets reduced fees. The landlord will benefit from:
- Collection of monthly rent
- Account to Landlords on a monthly basis for all expenditures to include fees
- Monitor rent payments and pursue tenants for outstanding rent
- Provide advice on rent arrears actions
- Carry out property inspections throughout the tenancy
- Arrange maintenance repairs and instruct relevant contractors (subject to quotes) Third Party Contractor Prices
- Arrange annual Gas Safe – Third Party Contractor Prices
- Arrange EICR as and when required- Third Party Contractor Prices
- Arrange EPC as and when required – Third Party Contractor Prices
What is the usual response time?
Our office is open 6 days a week including bank holidays. We have a team of professionals with a very quick response time for repairs or maintenance
If I only have one property, do you still offer management services?
We look after a number of landlords that only rent one property. We can provide all the advice and assistance you need to make renting your property as stress free and financially profitable as possible.
What is a reservation agreement?
To take the property off the market and avoid gazumping a reservation agreement is written once the vendor has accepted the offer. Once the reservation agreement has been signed, the buyer needs to send the deposit to the seller.
What type of deposit do I need to put down for buying property?
The usual deposit amount is 10% of the purchase price
Do you provide mortgage loans?
Kingsleys do not provide mortgage loans, however if you need any advice regarding getting a loan, our team will try their best to help out where possible.
What documents do I need to show when buying a property?
To comply with AML regulations, proof of ID and proof of address is needed when buying a property. A buyer will need to show a mortgage in principle agreement letter and proof of funds.
What is a chain free sale/purchase?
When the purchaser is not dependent on selling a property in their possession in order to purchase and the seller is not dependent on purchasing another property in order to sell.
How is the rent calculated for a commercial property?
Commercial properties are calculated by a set amount per SQFT. In addition there are service charge/insurance costs. Usually when renting a commercial property the figure used to represent the rent is the yearly term. However, rent and SC are payable quarterly in advance on the traditional quarter dates.
What type of commercial properties do you have?
We mainly deal with retail shop on high streets and offices on both sides of the spectrum (high end and low cost)
Do you manage commercial properties as well?
Yes, we have a dedicated management team who deal with commercial properties
Can you have a break clause for a commercial let?
Yes, a mutual break clause is optional with a commercial let subject to prior agreement with the landlord.
What type of contract is there when renting a commercial property?
The contract varies from short term license agreements to long term leases.
How long is a commercial lease for?
Commercial contracts (license/leases) vary from 1 year to 15 years subject to prior landlord agreement