Overview of Services
SouthSide is one of the few companies in Edinburgh who do not charge a set-up cost or pass on marketing costs for our long term landlords that are looking for management of at least 3 years. We advertise on ALL major letting portals to achieve maximum exposure at no extra cost. Below are the services we offer..
Full Management Service
Should your property already have tenants in place with another company or you’re managing it yourself, we can take over the full management at a reduced rate of 6%+VAT (7.2% incl VAT) of the monthly rent for the duration of that tenancy, it would then revert to our standard fee when we are required to relet the property.
Southside have an ethos of “Property Made Simple” to make the letting and management of rental property as straight forward and stress free as possible. We are happy to arrange a free, no obligation appraisal for us to meet you at your property to go through in detail what is required to make your property complaint for renting out and also give recommendations on any works required to achieve the best return on your investment. To arrange this you can submit and enquiry or call our office.
The cost of letting your property is absorbed by us on the basis that you are looking for Full Management for at least 3 years, this cost covers everything from the professional photos, uploading the advert to around 20 main stream sites which are highlighted below and also feed out to other sites, To Let Board, enquiry management, viewings, Application process for vetting potential tenants, referencing and credit checks and signing the legal documents on your behalf. Due to the increase in legislation which has resulted in a lot more work involved in letting and managing a property, should you decide to take your property back within the first 3 years we would need to recharge a proportion of the letting costs. We do have an alternative to this were we can offer our Let Only Service which you can read about below and we can then manage the property once tenants have been secured at the 6%+VAT rate.
- SouthSide do not charge any hidden fees to landlords for marketing; producing and signing legal documents; organising maintenance; Routine Property Visits (RPV’s) or any renewal fees.
- We offer reduced managements fee depending on the length of tenancy, eg after 3 years of the same tenants your management fee is reduced to 8% + VAT, after 6 years, 7% + VAT and 9 years 6% + VAT. To request this, please contact your Property Manager
- We do not charge tenants any fees either, for example referencing and tenancy fees, tenants simply pay their first month’s rent and deposit (which we transfer to Letting Protection Scotland for retention and return at the time they move out).
- We will always do what we can to match the right tenants to the right properties and therefore we do not work on a first come first served basis, we consider multiple applications, summarise each application with the landlord and the landlord will then have the opportunity to make the final decision.
- We conduct Routine Property Visits 1 month after tenants move in and 3-6 months RPVs thereafter, to ensure that the property is being kept in a good condition. A detailed photographic report will be completed at the visit and this will be forwarded to you for your records.
- Being Landlords ourselves and having used other letting agents before, we know how frustrating and costly it can be to carry out repairs and maintenance. To assist with this we have excellent local trades-people at negotiated prices and we do not add any fees either within or to the total of any invoices. For example we have negotiated a rate of £39 incl. VAT with various gas engineers for the annual landlord Gas safety certificates, ensuring landlords make a saving while maintaining the highest of safety standards. Many of our competitors take a percentage of the invoice back from contractors which results in much higher costs for landlords which we simply feel is not ethical.
- Landlords will be notified if repairs or maintenance need to be arranged and any associated costs will be detailed on the monthly rental statement along with invoices. The costs of works will then be deducted from the rental payment before being transferred. Deductions for any higher costs can be split to make the payments more manageable if required.
Below is a list of our negotiated service rates with partner companies. We can also organise for works to be carried out by your own contractors if you prefer..
Summary of Maintenance Services 2018
Over the years we have developed a very effective and efficient letting and property management service and are pleased to continue to build long term relationships with landlords
If you would like to discuss renting your property with us or arrange an appointment for a FREE property appraisal with John Davidson please contact us on 0131 510 00 51 or complete the contact form.
Should you decide to work with us, all we require are two simple forms to be returned by you: a Legal Requirement Form and a Landlord Preference Form both of which are provided during the property appraisal or by email on request. As soon as we receive those we can begin to advertise your property. We typically take photos on a Wednesday so that the property can be advertised on all the major letting web portals on a Friday to catch the weekend traffic.
Let Only Service
Our Let Only service is designed for landlords who are looking to manage their property themselves but require initial assistance to find the right tenant.
We offer 4 levels to our Let Only service, all of which require an initial fixed charge of £198 inc VAT for advertising the property on all the major letting portals including:
City Lets, RightMove, Letting Web, Zoopla, s1Homes, Gumtree, Find A Property, Nestoria, Prime Location and SouthSide Management.
This costs also includes a ‘To Let’ board outside the property if required. If you do not have marketing pictures/description of the property please add £36 incVAT for this, which is payable upon instruction to market your property.
The level of involvement is then up to you:
Level 1 (Bronze) 15%+VAT (18%incl VAT) of the achieved normal monthly rental – 1st month only
Includes: Marketing, Creation of Advert and Enquiry Management
Level 2 (Silver) 25%+VAT (30% incl VAT) of the achieved normal monthly rental – 1st month only
Includes: Marketing, Creation of Advert, Enquiry Management, Reference Checks/Credit Checks
Level 3 (Gold) 35%+VAT (42% incl VAT) of the achieved normal monthly rental – 1st month only
Includes: Marketing, Creation of Advert, Enquiry Management, Viewings and Reference Checks/Credit Checks
Level 4 (Platinum) 45%+VAT (54% incl VAT) of the achieved normal monthly rental – 1st month only
Includes: Marketing, Creation of Advert, Enquiry Management, Viewings, Reference Checks/Credit Checks and Preparation and Signing of Lease/Legal Documentation
If you have your own tenant and don’t require any Advertising, Marketing, Enquiry Management or Viewings we would not charge the fixed advertising charge and the fee for Reference/Credit checks or Lease Signing would be 18% for one service and 30% for both services.
Please note that in order to advertise a property we require, by law, the Landlord Registration Number and EPC (Energy Performance Certificate)
Formal Pre-Purchase/Rental Survey
For landlords that are looking to purchase a buy-to-let property, we also offer a Pre-Purchase Survey for a fixed cost of £80+VAT(£96 incl VAT) to advise landlords on the viability of the investment which includes the following:
- Site visit to the property
- Detailed description of property (including access and points to note)
- Legal obligations to put in place for letting
- Rental appraisal
If you are just looking for advice on the market rent of the property we offer a Basic Desktop Appraisal:
Free up to 5 properties
£27 incl VAT per property after 5 up to 10
10+ £45incl VAT per property
Free up to 2 properties
£27 per property up to 5
5+ £45 per property
£45 per property thereafter
Following a purchase and if required by the owner, we offer a full or let only management service as detailed above. Please note that we will refund the cost of the Pre-Purchase Rental Survey for owners looking to let their property with SouthSide on a full management basis for the long term (3 years or more) which would be refunded with their first monthly rental payment and included on their monthly rental statement.
Inspection Only Service
Occasionally landlords require, as part of their insurance, a property check or inspection to be carried out if their property is vacant for a period of time. We offer an inspection service inclusive of photos and a detailed report at a cost of £27 incl VAT per visit if the property is in Edinburgh.