Thinking of letting out your property? Why Walker Wyatt?
Walker Wyatt never forgets that your home is one of your most valuable assets and that if you let it out you expect to receive the property back in the same order as you left it. By adhering rigidly to this principle we have expanded our Lettings Department at such a rate that we now manage one of the largest rental portfolios in SW17.
Through our key locale next to Tooting Bec tube station we generate vast numbers of professional tenants and this enables us to obtain the highest possible rents. Once a holding deposit has been received tenants are extensively vetted through employees, bank and previous landlords references and only when we are completely satisfied that they will look after the property and pay their rent on time do we allow them to take the property. But we don’t stop there.
As the tenants move in we sort out meter readings and council tax so that the tenants take over responsibility. We ensure that a Corgi gas certificate is obtained so you are legally covered. We organise and oversee inventories and then carry out regular inspections to ensure that the property is being properly looked after. We organise necessary maintenance through our own qualified tradesman and oversee the work so that it is correctly carried out. When the tenancy finishes the property is inspected thoroughly from floor to ceiling and use deposits to attend to any damages if necessary.
Our clients, many of whom are abroad or live too far away to make regular visits, can rest easy in the knowledge that their property is being looked after as if it were our own. The only reminder of our presence are the regular financial and cost updates they receive, a process made easy by the fact that we run separate bank accounts for every property we manage.
We believe that our management service is second to none and there is no better testament to its success than the fact that much of our business comes from referrals and recommendations.
If you want complete peace of mind and the knowledge that your property is being looked after as well as you would, then please call us for a valuation. Our management fees are some of the most competitive around, and we also offer a ‘Finders Only’ service if you require.
If you would like more information please contact us, either via phone, email or through this website.
Thinking of renting your property?
Are you unsure of the steps to renting it out? Most frequently asked questions.
Where do I start?
A rental valuation of your property is essential in order to determine the highest rent that is achievable in the current market. This is also a good opportunity to ask advice or to raise any queries or questions you may have.
Are there any legal requirements as a landlord?
A Landlords Gas Safety Inspection must be carried out and a certificate issued by a Safe registered engineer. This must be done before any tenant moves in to the property and further inspections must be carried out both annually and when new tenants take occupancy. This service can be arranged by Walker Wyatt on your behalf.
It is now a legal requirement that an Energy Performance Certificate (EPC) is carried out and is valid for 10 years. This will need to be carried out before the property is advertised for letting. If the property was rented before Walker Wyatt commenced management you can supply us with the original copy or link to the EPC national. There are now also minimum EPC ratings that must be met in order to let your property. As the applicable regulations are being continually updated, please see our EPC regulations section for the current regulations.
All of our properties are required to have smoke detectors and CO detectors as recommended by the gas safety engineer. This will be determined by the size of the property.
Although not a legal requirement, we would recommend that the electrics are checked by a qualified electrician regularly as well. We are able to arrange our qualified electricians to complete this if you wish for this inspection to be done
All soft furnishings must be in accordance with the current fire regulations under the Furniture & Furnishings (fire safety) Regulations 1988.
Should we have a full inventory carried out on the property?
We strongly recommend all landlords to have a full professional inventory carried out before renting their property. This ensures that the property is taken back in the same condition that it was handed over in and will prove useful if there are any disputes at the end of the tenancy. You will obviously need to allow for general wear and tear but there is a full check-in and check-out procedure. This service can be arranged by Walker Wyatt.
What items do I need to provide tenants with?
We advise landlords to rent their property in a minimal furnished state. This should include a washing machine, fridge/freezer, cooker, double beds, storage furniture, sofa/s & blinds or curtains. Landlords are not required to leave any electrical items such as a television, stereos, microwave etc and all personal items should be removed.
What happens if something goes wrong at the property?
Walker Wyatt provides management that is second to none and we ensure that you are made aware of any problems and that they are corrected immediately. As part of this management service Walker Wyatt obtain quotes from all the relevant tradesman including decorators, Corgi Plumbers, electricians, gardeners, roofers and glaziers. Due to the vast amount of work that Walker Wyatt generates all of our regular tradesmen are able to offer competitive prices and a high standard of work and they are well known to us so 100% trustworthy.
We also carry out a full maintenance inspection of each property every year to ensure that there are no unreported problems and we offer advice on necessary updating to ensure that the property is kept in a good rental condition and that it is always let out easily so as to avoid empty periods and to ensure that the highest possible rent is achieved.
How does the finance work?
We organise a separate bank account for your property which allows us to pay you monthly in advance. We make direct payments in to your bank account on the 5th of the month (or next business day) and end of year finances are supplied upon request.
How does the finance work if I am planning to live overseas?
In order for us to pay your rental income gross you will be required by law to complete an Inland Revenue Non-Residents overseas landlord form which is available on the HMRC website. Once the form is completed we will send it direct to the Inland Revenue on your behalf and they will then send us an approval number. The form can take up to 3-4 weeks to be returned so we would advise that it be completed and sent off at the earliest possible date. We also supply annual financial statements
What information do I need to provide?
We supply an information sheet attached to our terms and conditions of business. Please ensure that this form is completed in full as you will need to answer questions which are essential in order for us to manage your property satisfactory.
How do I know that Walker Wyatt will find the right tenant/s for my property?
All prospective tenants are extensively vetted through their employers and previous or current landlords/managing agents, we will also get a guarantor for the rent if we feel the need to. Only when we feel totally satisfied that they will look after the property and pay their rent will we proceed with the rental.
How much deposit do you take?
We hold the equivalent of six weeks as a deposit for every property. This is held in a ring fenced ‘client account’ and is used to cover any costs for damage or mistreatment of the property. Either a member of staff or the inventory clerk (if an inventory has been agreed) undertake a full check out inspection after tenants have vacated to ensure that the property has been left in a satisfactory condition.
Do Walker Wyatt register the deposit?
Yes, we register the tenants deposit with the Tenancy Deposit Scheme (details available on our terms & conditions) and comply fully with the schemes.
What type of Tenancy Agreement would be drawn up for the property?
We generally use Assured Shorthold Periodic Tenancy Agreements, which is a fixed minimum period of six months for both parties. Once this fixed period expires the agreement runs on a periodic agreement with notice of one month from tenant to landlord and two months from landlord to tenant.
What do I do about the bills?
It is the tenant’s responsibility to pay for all bills whilst occupying the property. At the start and finish of every tenancy we will contact all utility companies and the local council and provide them with names, dates and if applicable meter readings so that they can amend their records and charge accordingly.
Walker Wyatt is registered with the NAEA, ARLA and the Property Ombudsman Scheme. Our office is located near Tooting Bec Underground Station and this not only ensures large numbers of potential purchasers who walk past our office every day, our membership of many of the country’s leading property websites such as Zoopla and Primelocation, along with this very website, guarantees maximum exposure for all our advertised properties. Along with this we always have a number of potential buyers on or records actively seeking property.
With the combined marketing coverage, experience and professional reputation, we can guarantee that we will get genuine buyers through your door and make you feel confident that you have received the highest possible offer.
Our commission rate is 1.25 % plus VAT. We do not require you to sign a sole agency agreement as we believe totally in our service and do not feel this is necessary. However should you wish to instruct other agents as well then our multiple agency rate of 2.5% will become applicable.
No upfront fees or contract fees.
12.5% + Vat per month when the property is tenanted.
No upfront fees, contract fees, no renewal fees.
8% + Vat of 12 month’s rent payable on signing of tenants contracts.
Should tenants vacate after fixed 6 month period then new contract
will incur a 6-month fee as above only.
If the tenants remain past the twelve month period no further fees are payable until the tenants vacate, then again payable on contract signing 8% + Vat.