Property Management – Level 2

Question 1

Tel me about the instruction and letting of 12a Byron Mansions:

Answer 1

• I inspected the property and provided a rental valuation to the landlady based upon local and comparable knowledge of the marke
• I gained instructions and provided our terms of engagement which clearly stated our fees which were agreed and signed
• I arranged for prospective tenants to view and agreed a letting subject to the necessary due diligence checks.
• The prospective tenants were not from the UK and Right to Rent information was supplied to them
• References were taken along with checking the Right to Rent where I was able to obtain documentation required in Schedule 1 being an EEA Passport where I checked that the country was listed.

References were taken which were satisfactory and an AST agreement for 12 months was drawn up Prescribed information was provided upon signing of the agreement along with checking the inventory and registering the deposit with The Deposit Protection Service.

Question 2

• What did your TOE consist of in relation to 12a Byron Mansions.

Answer 2

• Name and Address of Landlords.
• Name of Agent
• The service that we was providing which is full management.
• Our level of fees and our payment terms.
• The period of our management service.

Question 3

• What do your due diligence checks consist of?

Answer 3

• For rental properties I carry out a credit check with Homelet.
• Employers Reference, Bank Reference and Previous Landlord/Agent references will be obtained.
• And confirmation of identity is taken.
• Once all have been satisfactory then I can move onto the letting.

Question 4

• Talk me through Right to Rent.

Answer 4

• Identity Checks were taken. One item is required from Section A1 and Two items are required from Section A2.
• I will always consult the Government Document to check that a Country is listed as being in the EEA.

Question 5

• What determined whether a tenancy is an assured shorthold tenancy agreement?

Think?

Rent

Date

Landlord

Tenant rights.

Answer 5

1. If the tenant pays less than 100k per year in rent.
2. If the tenant moved into the property on or after 28th February 1997.
3. If the tenant is renting from a private landlord.
4. If the tenant has rights to have privacy in the property where the landlord cannot enter the property without mutual agreement.

Question 6

• What process do you have to go through when registering deposits with the DPS? What are the requirements?

Answer 6

• I register the Deposits online.
• Once the tenancy has been agreed and contract signed the deposit is registered online.
• The tenants information is input to The Deposit Protection Service.
• The tenant then completes the payment.
• I am then able to print off the relevant information to give to the tenant.
• Only a maximum of 5 weeks rent can be requested.