Yellx Property Ventures - Landlord - Terms of Business

Terms of Business


Fully Managed Service:

Our Fees:

  • £295 initial letting fee
  • 10% of rental income collected as management fee
  • 10% premium on any works or other professional service arranged
  • £40 Additional management visits (cost agreed prior to visit and if requested in addition to the six monthly inspections conducted as standard)

Additional costs will be charged as per prior agreement with landlord.

Houses in Multiple Occupancy (HMO) may incur additional charges to reflect the cost of multiple/joint tenancies.

What we are responsible for:

The below services are included within our standard letting fee unless noted below or otherwise excluded by mutual agreement.

  1. Rental Assessment – advice on rental value and type of tenant
  2. Marketing – Advertising your property as we deem appropriate until let or removed from market
  3. References – Conduct references on prospective tenants and advise on suitability. Obtain Guarantor as appropriate
  4. Inventory – Conduct an inventory prior to letting
  5. Tenancy Agreement – Completed standard Assured Shorthold Agreement (AST) between you (or us and your agents) and the tenant(s)
  6. Gas, Electric, Water and Council Tax Liability – Manage transfer of billing liability between landlord and tenant.
  7. Security Deposit – Collect and protect deposits received and advise on disputes
  8. Management Visits – We conduct visits not less than once every 6 months and report back to you were action is required
  9. Maintenance – Arrange routine maintenance up to £100 (or amount otherwise agreed), a 10% agent’s fee will be applied to all maintenance arranged.
  10. Credit Control – Monitor rent receipt and contact tenant to recover unpaid rent
  11. Payment of bills – Arrange to pay property bills if required and deduct the cost of the same from rental income.
  12. Check out – Perform Inventory checkout (including meter readings) and release of security deposit.

Landlord Service:

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