Evora Property Management

How does the Rent Guarantee Scheme work?

Evora Property Management effectively becomes your tenant, guaranteeing you a fixed rental income. We then sub-let the property, taking great care to select the right tenants and then manage the property throughout the full duration of the tenancy.

We'll handle everything from all utilities including council tax to dealing with tenants. We will save you valuable time so you can carry on with your busy life while still receiving a fixed income. At the end of the scheme you will take back full ownership and responsibility of your property.

How long is a Guaranteed Rent contract?

The rent guarantee contract we can offer from a minimum of 12 months up to a maximum of 5 years.

If I let my property unfurnished, do I still need to supply any white goods?

Where the property is required unfurnished, we can supply the following items;

Fridge freezer
Oven or cooker
Nets and heavy curtains or blinds
Beds and wardobes

What do I need to do when I lease my property?

Simply contact our leasing team who will be pleased to arrange a no obligation property valuation. We will meet you at the property and advise you of any areas that may need addressing prior to leasing your property.

How long will the process of letting my property take?

Generally the leasing process can take a maximum of 10 days.

Who is responsible for bills and Council Tax?

All utility bills and Council Tax will either be paid by us or be transferred to the tenants.

How and when do I get paid the Guaranteed rent?

All payments are made by an automated BACS system. Payments will usually take 2 working days to clear in to your account. Rental payments are made on the last day of each month in arrears

Do you charge a monthly commission?

No we don't. The rent agreed will be the rent that you receive from us every month. We do not charge commission or a management fee.

Do I have to inform my mortgage company?

You will need to check with your mortgage lender whether your mortgage terms allow you to let your property

What documents will I require to lease my property?

You will require the following documents to lease your property. Please use the following landlord check-list:

Copy of Council Tax Bill.
Copy of valid NICEIC Certificate.
Copy of valid Gas Safety record.
Copy of valid Energy Performance Certificate.
Copy of Building Insurance.
Copy of a recent Mortgage Statement.
Copy of utility bills.
2 sets of keys.

If you do not have a valid gas safety, electric, or Energy Performance Certificate, we can arrange these for you, just ask a member of the team.

What Is A Service Charge & What Do I Get In Return For Paying It?

We often hear people ask “What is a service charge?” and “What am I getting in return for paying it?” so we’ve put together a brief guide here.

A service charge, (sometimes known in a variant form as an estate rent charge) is where each household on a development, or an apartment in a block, contributes a financial sum each year to pay for the upkeep of an area or a service that communally benefits the contributing units. This may typically be the insurance of an apartment building, cleaning and lighting the communal hallways, and tending to gardening in external areas; or the upkeep of an un-adopted services such as drainage or an access road. Service charges can also fund luxury facilities for residents such as communal leisure facilities.

The way in which a service charge is organised and details of what can and can’t be charged by the landlord and the proportion of the charge to be paid by the individual leaseholder will set out in the tenant’s lease or tenancy agreement. The landlord (or sometimes a management company that is party to the lease) provides the services, while the leaseholders pay for them.

The landlord will generally not be paying for the services but sometimes has to pay for the services before they can recover their costs through these service charges. Originally, the costs of services were included in rental payments, but as costs and inflation increased, landlords wanted to make sure they recovered all their costs every year. Some old leases still provide services at a fixed rate, regardless of costs to the landlord. However, most service charges are based on the actual or estimated cost of the services and upkeep and thus vary from year to year. These are known as variable service charges.

“What is a service charge?” is completely unconnected to the ground rent and is not related to the contractual rental payment for the occupation of part of an area of land and anything occupying that space, but instead is used on the upkeep of the land and services provided by the ground rent.

What Are Lease, Transfer Or Title Documents & What Do They Do? What Does Demise Mean?

What are lease and transfer documents? What do they do? What does demise mean? We aim to break down and answer these questions in this section.

Demise is a word which generally encompasses the conveyance or transfer of one or more properties by freehold sale or lease. So whether you own a freehold or leasehold property or land, it is demised to you.

What are lease and transfer documents? Although there are some significant differences, a lease, title or transfer are all essentially documents in similar formats that set out the benefits of and obligations associated with a property. Where properties contribute towards service charges, these documents form a contract that legally obligates the leaseholder or homeowner to pay the service charge and explains what maintenance and services will be provided in return. They contain covenants which may require the occupier to do, or not do, certain things. An example of a positive covenant would be for the occupier to clean the windows once a month. An example of a negative covenant could be that the occupier could not play loud music late at night. It is important to know what you can and can’t do in your property to prevent breaching these covenants as there may possibly be a legal recourse associated with the breach.

Leases are used where the property in question is sold leasehold. This means that property is constructed on land that is owned by another party and the holder of the lease can occupy that land for a set period of time. Apartments are almost always sold leasehold because they are built on top of one another and as such more than one property occupies the same piece of land. In broad terms, it is not possible for more than one party to own to land so it must have one owner that then leases the spaces that each apartment occupies to each leaseholder (apartment owner). It is also possible to have leasehold houses although most are sold freehold.

Freehold property owners, own the land on which their property is built as well as the property itself. A freehold title in theory goes down to the centre of the earth and up into the sky until reaching outer space, although certain rights are always reserved such as an allowance for an aircraft to fly through your bit of sky or water to pass underground etc. A freehold property is sold using a transfer document. This document can contain the same types of covenant and requirements to pay towards a service charge as leases, although sometimes the service charge is known as an estate rent charge.

A title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. As such, a transfer, a lease and also the freehold interest of land on which other properties are demised, are all also known as title interests or documents.

We hope this gives you an idea of what are lease and transfer documents, if you need any further information please contact us.

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