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Tenant fees

One tenant moving into a property = £312.00 (inc.VAT)

This covers referencing one tenant (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.

Each additional tenant moving into a property will be charged a further £132.00 (inc.VAT) per tenant

If a guarantor is required this will be charged at £72.00 (inc.VAT) per guarantor

The above fees cover all administration and reference charges.

Renewal Fee (per property) £72.00 (inc.VAT)

Rent must be made by a single standing order payment each month. Due to the extra processing time involved, individual rent payments by any other method will be subject to an administration charge of £36.00 (inc.VAT) for each payment. Rent payments made by cheque which fail to clear by the rent due date will be deemed to be late and an administration charge of £42.00 (inc.VAT) will be levied.

It is our policy to recommend legal action to landlords should your rent be more than fourteen days late.

CHARGES & PROCEDURES

If your rent remains unpaid for seven days a first reminder will be sent with a charge of £42.00 (inc.VAT).

If your rent remains unpaid for fourteen days a second reminder will be sent with a further charge of £42.00 (inc.VAT).

Further reminders may follow at the same seven day intervals thereafter and will be charged at the same rate.

REPLACEMENT KEYS

If during the term of your tenancy you lose or damage beyond use any key(s) &/or fob(s) the following charges will apply for replacements and locks if necessary:

Yale key - £5.00 (inc.VAT) per item. UPVC door key - £8.00 (inc.VAT) per item.

Mortise key - £10.00 (inc.VAT) per item. Security key - £15.00 - £60.00 (inc.VAT) per item dependant on type and manufacturers costs.

New lock £230.00 (inc.VAT) per item. Fob/electronic key - £15.00 - £60.00 (inc.VAT) per item.

An additional fee will be incurred if the work is undertaken outside of normal office hours.

If you require the use of keys held by DaBora Conway a deposit of £20.00 will be required. The deposit will be refunded upon return of the key(s). Failure to return the key(s) in the condition issued will default the deposit and result in the above charges for replacement being applied.

TO LET/LET BY BOARDS

These remain the property of DaBora Conway and are erected with the full agreement of the Landlord. You will be charged £42.00 (inc.VAT) in the event that they are removed by you without our authority. DaBora Conway reserves the right to erect a board on the renewal of the tenancy.

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WHAT'S HAPPENING

WHAT OUR EXPERTS THINK ARCHIVES

The Homebuyer and Investor Show 2019 - an event not to be missed!

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The Homebuyer and Investor Show 2019 - an event not to be missed!

 

April proved to be a busy month once again for the Guaranteed Rent Scheme team having participated in the Property Investor Show at the ExCel London for the second year running. It was an excellent two day event and is without doubt the place to be for an insight into all the latest opportunities within the property investor marketplace.

The team were there to offer the many benefits of the Guaranteed Rent Scheme to those looking at options of where to place their next investment and the scheme was most welcomed, especially where rents in many local areas are hugely competitive compared to those payable in the private market. For more information on how to achieve a great return on your investment property please contact the team on 020 8989 5678 ext. 227/242 or leasing@daboraconway.com

 

           

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What happens if I want to invest in property?

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What happens if I want to invest in property?

Britain’s property market has traditionally always been considered a stable and sensible place to invest your money, regardless of whether you are an aspiring landlord or just looking to purchase a home to sell-on in the near future.

However, depending on your intentions and unique situation, there are a number of things to consider in order to get the most out of property investment.

Following SDLT changes rolled out in recent years, any existing homeowners who purchase a second or ‘additional’ property – i.e. for buy-to-let purposes – will need to pay an additional three per cent SDLT surcharge upon purchase. If you are intending to invest in property as a buy-to-let landlord, this needs to be taken into account.

The rules governing SDLT can prove costly – and it is important to ensure you can cover these costs, yet continue to make a profit when you come to let out the property. It is equally important to factor in other typical purchase costs such as conveyancing and surveyors’ fees.

An average investor purchasing a £150,000 property will effectively lose £5,000 in SDLT. On top of this, legal fees can cost anywhere between £850 and £1,500.

Furthermore, changes to mortgage stress tests introduced by the Prudential Regulation Authority also need to be considered – particularly if you are an existing investor who already manages a large portfolio of buy-to-let homes.

Following new rules, mortgage lenders must carefully assess the affordability of landlords before they are able to offer them a mortgage. These changes mean that portfolio landlords need to provide extensive tax and financial information to lenders in order to meet the requirements of so-called ‘stress tests’.

On top of this, both existing and aspiring landlords also need to be aware of ongoing changes to mortgage interest tax relief.

First introduced in April 2017, these gradual changes will see the tax relief landlords are entitled to claim for finance costs slowly restricted to the basic rate of income tax between now and 2020. Previously, landlords were able to deduct mortgage interest and other allowable costs from their total taxable rental income – but this is unfortunately no longer the case.

Need advice?

Despite the various tax challenges today’s buy-to-let landlords face, property investment remains incredibly popular in the UK and can still be very lucrative if the right advice is sought ahead of time.

Article sourced from Richard Anthony Chartered Accountants. To find out more about Richard Anthony’s specialist services for the property sector, please call 020 8349 0353.

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Say Hello To Our South Woodford Branch Manager!

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An interesting read from Property Industry Eye - High Street Agents get a 5% better Price

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Demand strong for UK commercial property

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