Information for Landlords
We understand that letting your property, especially for the first time, can be a worrying experience and with this, in mind, our most important consideration is providing you, the Landlord with the best possible service and the right tenant for your property.
We never forget that the property is your most important asset and we can confidently assure you, that by instructing us to act as your Letting and Management Agents your asset will be in professional and caring hands. To help us protect you, we offer our landlords free rent protection insurance**, which includes legal assistance.
A Personal Service
Because we are a small agency, we are able to offer a personal service with attention to detail, whilst at the same time maintaining a high standard of competence and professionalism.
Carefully Selected Tenants
Drawn from a continually updated register, all prospective Tenants are thoroughly referenced and credit checked where possible. In some cases, we will also require a guarantor.
Levels of Service offered
Full Management: This is our inclusive Service, which provides for the marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we then go ahead and prepare the tenancy agreement, and if required an inventory. The Tenant will then be checked in to the inventory.
During the tenancy, we carry out periodic inspection visits. Should these bring to light any maintenance issues, we will (within the confines of our Management Agreement) arrange or recommend any necessary repairs.
Collecting and processing of rental payments is also an important part of our Full Management Service. Rental balances will be credited automatically to the Landlord’s nominated bank account.
Towards the end of the tenancy, we liaise with the Tenant, with a view to renewing the tenancy agreement, or arranging to check them out and re-advertising the property to let.
This Service is particularly suitable for Landlords who are not residing locally or would rather not deal with the Tenants directly, preferring all aspects to be handled by an Agent.
Letting Only: This service is limited to marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we then go ahead and prepare the tenancy agreement, and if required an inventory before handing over the management of the property to the Landlord.
We offer a competitive fee structure and can offer reductions on our standard charges for multiple property portfolios. Our standard charges are as follows:
Letting Fee: The equivalent of one month’s rent
Management Commission: 10% of rent collected (min 50€*)
Inventory Preparation: €75* minimum but varies dependant on full inventory requirements.
Our fees may be open to negotiation to Landlords with property portfolios.
Guide for Landlords
Before a property can be let, there are several matters which the owner will need to deal with to ensure that the tenancy runs smoothly, and also that he/she complies with the law. We provide the summarised information below. If you require further advice or assistance with any matter, please do not hesitate to contact us:
Preparing the Property
We have found that a good relationship with Tenants is the key to a smooth-running tenancy. As Property Managers this relationship is our job, but it is important that the Tenants should feel comfortable in their temporary home, and that they are receiving value for their money. It follows therefore that a well presented and maintained property, in a good decorative order will go towards this, whilst also achieving a higher rental figure.
Electrical, gas plumbing, waste, central heating and hot water systems must be safe, sound and in good working order. Repairs and maintenance are at the Landlords expense unless misuse can be established. Interior decorations should be in good condition and preferably plain, light and neutral.
Your property can be let fully furnished, part furnished or unfurnished. Which of these is appropriate will depend on the type of property and local market conditions. We will be pleased to give you advice on whether to furnish or not and to what level. As a minimum, you will need to provide decent quality light fittings and white goods. Remember that there will be wear and tear on the property and any items provided.
Personal items, ornaments etc.
Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those of real or sentimental value. Some items may be boxed, sealed and stored at the owner’s risk. All cupboards and shelf space should be left clear for the Tenant’s own use.
Gardens should be left neat, tidy and rubbish free. Tenants are required to maintain the gardens to a reasonable standard, provided they are left with the necessary tools. However, few Tenants are experienced gardeners, and if you value your garden, or if it is particularly large, you may wish us to arrange visits by our regular gardener.
At the commencement of the tenancy the property must be in a thoroughly clean condition, and at the end of each tenancy, it is the Tenants’ responsibility to leave the property in a similar condition. Where they fail to do so, cleaning will be arranged at their expense.
Information for the Tenant
It is helpful if you leave information for the Tenant, e.g. operating the central heating and hot water system, washing machine and alarm system, and where refuse can be disposed of etc.
You should provide one set of keys for each Tenant. Where we will be managing we will arrange to have duplicates cut as required.
If your property is mortgaged, you should obtain your mortgagee’s written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.
You should ensure that you are suitably covered for letting under both your buildings and contents insurance. Failure to inform your insurers may invalidate your policies. We can provide information on Landlords Contents and Buildings Insurance if required.
Bills and regular outgoings
We recommend that you arrange for regular outgoings e.g. service charges, maintenance contracts etc. to be paid by standing order or direct debit. However, where we are managing the property, by prior written agreement we may make payment of certain bills on your behalf, provided such bills are received in your name at our office, and that sufficient funds are held to your credit. An additional charge may apply for this service.
Council tax and utility accounts
We will arrange for the transfer of utility accounts to the Tenant. Meter readings will be taken, allowing your closing gas and electricity accounts to be drawn up. These matters we will handle for you, however correct information and paperwork need to be provided by both the Landlord and the Tenant.
A landlords tax position can vary due to the country of residency and many other reasons. It is entirely the Landlords responsibility to inform the appropriate bodies (whether Spain or any other country) of rental income received, and to pay any tax due.
Energy Performance Certificates (EPCs)
Landlords offering a property for rent are required by law to provide prospective tenants with an Energy Performance Certificate for their property. The certificates must be provided free either when (or before) any written information about the property is provided to prospective tenants i.e. prior to advertising. An EPC is valid for 10 years. We can arrange an EPC inspection for our landlord clients upon request. Generally, EPCs currently cost around 125€ – 150€.
Which party is responsible for what?
This varies slightly depending on the property, but generally speaking…
- Insuring the property suitable buildings cover and the like
- Repair and maintenance of the hot water and heating systems, the pipes and the electricity system
- Repair of the appliances included with the property
- If the property is a flat, the service charges (for maintenance to the structure of the building, cleaning and electricity in the communal areas).
- All utility bills (electricity, gas and water) etc
- Bills for telephone, broadband or cable TV if you want these (you’ll need the landlord’s permission to install these if not already installed)
- Insuring your possessions in the property and/or the landlord’s possessions in those cases where the property is partially or fully furnished
- Repair of your own possessions that you bring to the property including appliances
- Keeping the property clean and in good condition
- Telling the landlord or us about any defects
It is most important that an inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of a tenancy. Without such safeguards, it will be impossible for the Landlord to prove any loss, damage, or significant deterioration of the property or contents. In order to provide a complete Service, we will if required arrange for a member of staff to prepare an inventory and schedule of condition, at a competitive cost.
The above is a brief summary of landlords’ responsibilities and of the laws surrounding the tenanted property. We hope that you find it useful. If there are any aspects of which you are unsure, please ask us. We look forward to being of assistance to you in the letting and management of your property. If you wish you can print this page by using your browser Print option.
* Prices quoted exclude IVA.
**Offer of free insurance, valid only to new landlords on properties listed after 1st June 2018.