Having instructed Tulum Property Management to let your property, you may have some questions….
Q. What happen on the day the tenant moves in? (Completion Day)
On Completion Day
Proof of residency and ID received from tenants (if not already). Tenants sign the tenancy agreement (unless already received), receive a detailed Inventory and Schedule of condition of the property and collect keys from the office. At this stage we need to ensure that all appropriate safety measures have been taken before the tenant moves in. The tenants are given the opportunity to advise of any amendments to the inventory which will be taken into account at check out.
Q. What happens to the Tenancy Deposit?
The tenancy deposit will be held as stakeholder for Assured Shorthold Tenancies in accordance with the requirements of The Dispute Service Limited. This means that the deposit can be released as soon as both parties agree. (Please refer to the tenancy agreement terms and conditions for more details.) The tenancy deposit is held by Tulum Property Management in a separate client account.
Q. When do I start receiving rent?
First Month’s Rent
Your first month’s rent will be paid to you via bank transfer once the tenancy has commenced. The rent you will receive will be less commissions and any other expenses due to Tulum Property Management. If we are collecting rent on your behalf, you will receive monthly statements.
Q. What happens during the tenancy?
The type of management level selected will affect how your tenancy is handled once your tenants move in. You have a choice of Managed, Rent Collection or Introduction Only. Please refer to your signed Letting Authority and Terms and Conditions of Business.
In accordance with the terms and conditions of business for the management level selected, we will write to you and your tenants three months prior to the end of the tenancy to enquire whether you both would like to renew the tenancy for a further term.
Please refer to a separate Landlord Check Out Manual which you will receive once notice has been given
Q. What are my legal obligations as a landlord?
Section 11 of the Landlord and Tenant
You must keep in repair the structure and exterior of the property including drains, gutters and external pipes. You are obliged to keep in repair and proper working order the installations in the property for the supply of water, gas and electricity and for sanitation. You are required to keep installations in the property for space heating and heating water in repair and proper working order.
Fire & Furnishings
You must ensure that all furniture and soft furnishing, including garden and patio furniture, complies with the regulations. This will be checked during the Inventory and any furniture that does not comply will have to be removed.
The Gas Safety
As mentioned above, you must ensure that any gas appliances or installation pipe work in the property is maintained in a safe condition so as to prevent risk of injury to any person by ensuring that all such appliances and pipe work are checked annually by an approved Gas engineer and a written record produced.
The Electrical Equipment ( Safety)
You must ensure that electrical equipment is safe and will not cause danger and that it satisfies the safety requirements by getting it checked by a qualified electrician.
What Happens Next Landlords © November 12 Tulum Property Management