Non corporate tenants are individuals who choose to, or need to rent for other reasons. A reputable agent is trained to vet non corporate tenants, seek references, secure the necessary deposit and use professional judgement, contacts and expertise to ensure that the tenancy runs as smoothly as possible. The financial elements of property letting depend, to a certain extent, on when the property was purchased, how much in the way of refurbishment and furnishing is required and how much borrowed money is involved in the project. Whether or not to choose the additioal management option depends upon personal circumstances. A landlord who is frequently abroad or difficult to contact will almost certainly be advised to pay the additional management fee which commits the agent to handling all repairs, sorting out problems, paying bills etc.
Some agents ask for an opening float to cover likely expenses until the first rent is paid.
An inventory of the contents of the property and the condition of all items must be prepared and signed by the tenant. It is standard practise nowadays to pay an independant inventory clerk a fee for the inventory and check-in . Check-out costs at the end of the tenancy are paid by the tenant. The impartial advice of an independant professional is invaluable in the event of any dispute, or damage caused by the tenant. The tenancy agreement which protects both the landlord and the tenant is another essential for which an agent will charge a small fee.