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Management Services

WHY CHOSE US?
Do you really want to be disturbed at 2am?
Let us handle the day to day management on your behalf. We are on hand 24/7, 365 days a year for your peace of mind. Looking after your own home can be stressful, let alone having to deal with other properties. We aim to take the pressure off by dealing with the running of your investments so your time is freed up to deal with all the other bits and pieces life throws at you.

We have reliable, efficient contractors, who are all fully insured to deal with anything from a leaky tap to a full refurbishment. We ensure our contractors prices are competitive and we will endeavor to obtain 3 estimates, for any works which exceed the retention held.

When your property is managed by Prospect Residential you need not worry about maintenance issues, arranging annual inspections (gas safety etc) or rent being paid on time as our experienced, dedicated team will take care of all of this on your behalf.

We will go the extra mile to ensure your property is well looked after and offer advice on how to maximise the return of your investment.
We're here to help you from the outset, organising pre-tenancy cleans, repairs, right through to handling deposit negotiations at the end of the tenancy.
As an independent agent we are flexible and tailor our services to your needs.

 

WHATS INCLUDED IN OUR MANAGEMENT SERVICE, BUT NOT LIMITED TO;


PAYMENT OF OUTGOINGS
We can pay regular outgoings such as service charge/maintenance charge or similar contribution to shared expenses.
Although we will do our best to query any obvious discrepancies, it must be understood that we are entitled to accept and pay without questioning demands and accounts, which appear to be correct. In particular, we cannot accept responsibility for the adequacy of insurance cover, or for the verification of service/maintenance charge demands.

 

REPAIRS & REPLACEMENTS
We will deal with day-to-day repairs and maintenance. Whenever it is possible we obtain estimates and seek your approval, before the work is carried out, unless the cost is under the retention/float, which is usually £300, in which case we will proceed with the works. In emergencies and when we consider it necessary, we act to protect your interests, if necessary without consultation regardless of the cost.
As a Landlord, you are obliged, under the terms of the Tenancy Agreement, to ensure that all necessary repairs are carried out and we do that on your behalf. Should we not have your permission to act, and work is necessary, with the result that the Tenant withholds all or part of his rent, we reserve the right to instruct contractors at our discretion and to deduct the costs incurred from rents received. This should only become necessary if all efforts to contact you over a 48 hour period have been unsuccessful.

 

REGULAR INSPECTIONS
We make regular inspections (usually five monthly) of all managed properties, after the inspection the Landlord will receive a written report, with photographs, of our findings.
These inspections are only a superficial examination, and whilst we will investigate any defect observed, or reported by the tenant, they are not intended to be as thorough as an inventory check or structural survey. We cannot be held responsible for any maintenance problems if or when tenants refuse us access to the property.

 

BEFORE AND BETWEEN TENANCIES
If required, we can arrange for professional cleaning of the property after Tenants have vacated, and we can also arrange and supervise any repairs or replacements which are found to be necessary between tenancies. We strongly recommend that a professional clean be done before a Tenancy starts because cleaning standards vary greatly. This will ensure that the Tenant is responsible for leaving the property to the same standard at the end of the Tenancy.

 

POST FORWARDING
We will forward to any address in the UK, post which is addressed to you, when it reaches our offices. However, we strongly recommend that you make arrangements to have post forwarded by the Post Office. Any post forwarded by

 

INFORMATION
We ask all Landlords to complete a Property Information Form, providing all the information that we will require in order to look after a property.

 

KEYS
When we managing a property we require enough keys to be able to provide each individual named Tenant with a set o keys, and a set to be retained by Prospect Residential for the duration of the Tenancy for management purposes.
If Tenants require any additional sets of keys, they can have copies made at their own cost.

 

FLOAT/RETENTION
We retain a float of £300 when rent is paid monthly or £500 when rent is paid quarterly or biannually to cover any routine outgoings and any repairs or maintenance that might be needed. Where works are likely to exceed the monthly rental, we will ask you to send us extra monies which may be required to settle invoices from contractors before the work starts.


ENDING THE MANAGEMENT SERVICE
Our management service is subject to three months' notice to terminate by either party