Oscar Knight Estate Agents Letting Only Service
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Letting only Service

With a booming property market in London, finding tenants is relatively easy. Finding good quality tenants, however, is much harder.

That’s where we at Oscar Knight focus our attention – making sure that the people we find to rent your property will respect it like their own, pay a good rent, and do so on time.

What’s more, there are no hidden fees – the price we quote is the price you pay.

This is what we’ll do for you, as part of our letting-only service.

Expert Photography

The old saying ‘a picture speaks a thousand words’ is increasingly true as people become more and more visually orientated.

But good photography – really good photography – takes skill, which is why all our properties are photographed by a professional who takes his time to ensure that the lighting and angles are right, to bring out your property’s best features.

Expert Photography

Big on the Internet

These days virtually all tenants find their property via the internet. Very few go ‘shopping’ from one agent’s office to another, and even fewer look in the newspapers. So we have cut out the expense of high-street offices and newspaper ads (both of which are only there to ‘impress’ landlords, not to find tenants) – and translate the savings into lower client fees.

Instead, we market your property on all the biggest property websites.

We’ll also promote your property via social media, which is particularly important for younger tenants, and media-savvy Londoners!

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On average we take just 8 days to find tenants.

Quality Tenants

Finding good quality tenants takes hassle away from renting property – for us as well as landlords. Good tenants are more likely to look after your property, pay rent regularly and fully and stay for a long time. All of which means good income, reduced maintenance and lower voids.

Consequently we take this part of the job extremely seriously, using a ‘belt-and-braces’ approach to finding good quality tenants.

We accompany all viewings
We always accompany tenants on a viewing so we can get a feel for what sort of tenants they’d make, as well as provide accurate, timely feedback to you afterwards.

Thorough referencing procedure
Credit referencing requires expertise of a specialist tenant-checking agency, which is why we employ the award-winning FCC Paragon

We also double-check everything we get back from FCC Paragon, and then give it a good old-fashioned sense-check – we have a good nose for things that don’t stack up!

From all applicants we ask for:

 

  • a reference (status enquiry) from their bank or an ‘Equifax’ credit search
  • 6 months’ bank statements so we can check their income and that rent has been paid fully and on time
  • reference from a previous landlord (or if they have not rented previously recently, we will usually ask for a guarantor or higher deposit)
  • passport or UK driving licence
  • copy of visa where applicable
  • an employer’s reference, or

if in new employment:

 

  • a guarantor or previous employment references

if self-employed:

 

  • most recent business accounts or request an accountant’s reference, or a guarantor where there is no accounts history

if a student:

 

  • a letter from their college or university to confirm they’re a student
  • a guarantor to guarantee the rent will be paid

Note: this is only a general guide. Occasionally we vary these stipulations – either at our discretion, or at the request of the landlord – to ensure that a proper, but fair, check is made to verify the suitability of applicants for your property.

Deposits
From most tenants we ask for a deposit equivalent to six weeks’ rent. However, if the tenants are students, we ask for the equivalent of eight weeks.

From overseas students we ask for six months’ rent in advance, as well as the eight weeks’ deposit.

These deposit measures ensures there are sufficient monies at the end of the tenancy should they not look after the property appropriately.

Tenant-approval meeting
We can also arrange for you to meet any prospective tenants if you wish, so you can verify for yourself that you’re happy with the people we’ve found. If, for any reason, you would prefer us to keep looking, we will politely decline those applicants and offer you some alternatives.

We look after the tenants
Finally, we believe that happy  tenants make good  tenants, which is why we make sure we do all we can to respond to tenants’ queries and needs as soon as we can, and as fairly as we can.

If you’d like more information about our tenant vetting service, please don’t hesitate to get in touch.

Thorough Check-In

Once tenants have been found and have passed our strict referencing checks, we’ll

Prepare an inventory
We’ll ask an independent specialist to prepare an Inventory and Schedule of Condition. This acts as an important ‘snapshot’ of your property before your tenants move in, and can be useful if there are disputes about its condition when they move out.

Show your tenants round
We will meet your new tenants on the day they move in to show them round and obtain their signed agreement of the Inventory and Schedule of Condition.

We’ll also make sure they know how everything works – ensuring nothing is left to chance.

No Hidden Fees

We understand that one of the things that irritate landlords is a constant string of unforeseen fees! With Oscar Knight, the fees we quote are the fees you pay. No additional ‘agreement fee’, fees for drawing up the tenancy, check in/out fees, inventory fees, overseas admin fees – they’re all included in our simple fee structure:

  • Managed properties: 14.4% (12% + VAT) plus £200 float for minor maintenance
  • Let only: 9.6% (8% + VAT)

Any other optional extras are listed here:

 

 Letting only serviceProperty Management service
Arrange energy performance certificate (EPC) optional: £84 inc vat
Professional photography & floorplan
Extensive marketing on our own website, on Rightmove, Zoopla & Primelocation
Accompany viewings
Provide regular feedback
Informal, no-obligation “meet the tenants” approval meeting
Extensive reference checks including affordability & credit checks & credit score
Prepare tenancy agreement
Take advance rent & deposit
Prepare inventory
Check-in tenant
Gas safety check
Standing order set up for rental payments, Direct card debit for managed properties
Gas, electricity, water & council tax notified
Register tenant’s deposit optional at £30 inc vat (we will do this automatically for you if we don’t receive confirmation from you that you have done so)
Review rent annually  
Ongoing customer support  
Collect rent – pay you by BACS  
Monthly e-statements  
Handle any maintenance and repairs  
Manage repairs with tenants and contractors  
Administer overseas tax (NRL Scheme)  
Arrange annual gas checks Reminder sent to landlord £84 inc vat
Deal with Block Management companies on your behalf; pay service charges, ground rent  
Dedicated management team is the only point of contact for tenants  
Regular property inspections using thorough 50-point check-list  
End of tenancy check out  



Renewal fees
Unlike some agents, we’re upfront about our costs for renewing a tenancy (when existing tenants decide to stay beyond the initial term of the tenancy).

And unlike some agents, who charge the initial rental fee all over again, we charge just 3.6% (3% + VAT).

Example: a tenancy of £1000pcm, renewed for 12 months, costs just £360 + VAT = £432.