Residential Property
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Watson Property Management can provide a full and comprehensive management service to assist you in obtaining the maximum return from your property. Alternatively, should you intend to manage the property yourself, we can provide an agency service to secure a suitable tenant in return for a fixed fee.
We handle all aspects of day-to-day management at the property, including repairs and improvements as necessary.
We currently manage rented flats and houses of many varieties throughout Yorkshire, with particular emphasis on Leeds, Harrogate and York as well as Wetherby. We deal with properties let under regulated tenancies and to tenants’ claming Housing Benefit, although we do not deal with student lettings.
Unlike many other agencies, when we are retained to manage a property, we do not charge landlords any letting fee. Landlords do not incur any costs until a tenant is found. Full colour marketing details are produced in-house at no charge, using digital photography which enables us to minimise waste and therefore costs. We draft our own tenancy agreements and will arrange for all documentation to be completed by both parties. We handle all aspects of day-to-day management at the property, including repairs and improvements as necessary. We can arrange buildings insurance if required. We can also offer a rent guarantee to Landlords at a nominal cost.
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For further information or to arrange an informal meeting please contact our Property Director Tim Mullen.
Frequently Asked Questions
How do I go about letting my house or apartment?
There are many issues to consider when contemplating the letting of residential property. We recommend that you contact us to arrange a meeting at our offices to discuss the various aspects. Or we’ll be happy to come and have a look at your property with you. That way, we can give better advice regarding things that the property may benefit from prior to marketing. We should also be able to give you an idea of the rental value. There’s no charge these visits and of course, no obligation or pressure, so there’s nothing to lose.
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What services do you provide?
We offer a full residential property management service that takes care of everything to do with the letting and ongoing occupation of your property. We will deal with any maintenance issues, items of repair, emergencies everything else in relation to the property both whilst it is both let and vacant.
If you intend to manage the tenancy yourself, we offer a tenant find service which secures a suitable tenant for the property. We’ll find a tenant and complete the formalities, then leave the rest to you.
We are not estate agents and do not sell houses.
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What geographical area do you cover?
We cover the whole of the York – Leeds - Harrogate area.
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What’s your fee structure?
Fees for securing new lettings or renewals are charged at between 5% the initial rent, with a minimum fee of £350. This fee covers preparation of full colour particulars and mailing, viewings, vettings and completion of the final tenancy agreement. Advertising costs and disbursements are added at cost.
If we are retained to manage the property, then we don’t charge at all for finding tenants. The only costs incurred by landlords will be advertising costs. Our ongoing management fee is charged at 10% of the passing rent, although we will negotiate a discount for clients with more than one property. Management fees are charged as a percentage of any monies collected from the tenant.
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What’s included in your fees?
We provide a comprehensive management service that takes care of all matters arising from the letting of a property. Our management fee includes everything from rent collection and credit control, maintenance problems, repairs or refurbishment or technical issues which may arise, and anything else in between. We can arrange insurance if required, together with any works or inspections to comply with regulations or statute. Landlords can become as involved as they wish, or take a back seat.
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What’s not included?
Very little, really. We get involved in everything to do with the maintenance and welfare of the property, so our client’s don’t have to worry about accumulating costs every time they speak to us or need us to deal with something. We can even get involved in ongoing major refurbishment of properties if necessary, if it helps the landlord, or assist them in an advisory capacity. Basically, whatever’s necessary. That’s why many of our clients have been with us for years. They know that we’ll help them with any aspect of letting their property, without sending them unexpected bills.
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Are there any upfront charges?
No. There are no initial charges in respect of the preparation or mailing of marketing particulars, conducting viewings or obtaining references. Charges will be applied for any disbursements or out-of-pocket expenses such as To Let Boards or advertising charges, but only once a tenant has been found.
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What about accounting?
Rents on residential properties are charged on a monthly basis, in advance. We collect rents by Direct Debit on or around the due date.
We account to our clients on a quarterly basis in accordance with standard RICS practise. On each occasion, a full statement is issued showing all items of income and expenditure, together with a written report updating the landlord as to any relevant issues.
If preferred, we can release funds to clients on account whenever rents are collected, subject to retentions to cover expected outgoings.
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Do you charge VAT?
We are VAT registered and must charge VAT on all our fees. VAT invoices are always issued for our fees to enable clients to recover VAT where they themselves are registered.
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