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A guide for landlords

A guide for landlords

Druce offers a tailored service for landlords, depending on your requirements.

Letting and Property Management service

Acting on your behalf, Druce will qualify all tenancy applicants and arrange accompanied viewings.

We will help you consider the merits of every offer and once you’ve made your decision, we will undertake the necessary reference checks on your prospective tenants.

Tenants expect high quality service — professionalism, expertise, support and swift responses — from a single point of contact. Most landlords don’t have the time or the capability to deliver all that.

Druce’s Letting and Property Management service is about making a client’s asset work as cost effectively as possible to ensure it delivers the highest yield. For a relatively small fee, the property management team takes care of the time-intensive demands of a tenant and ever-changing maintenance and compliance demands that come with owning a rental property.

Property management is a team effort. It involves trained property professionals, a vast spectrum of vetted contractors and expert advisors across a network of disciplines, including compliance, finance and investment — all accessible through a single, dedicated point of contact.

This service includes a check-out report at the end of the tenancy and help with any dispute resolution.

Druce also offers a ‘let-only’ service which covers the check-out report but not property management or dispute resolution.

THE LETTING PROCESS FOR LANDLORDS

Our step-by-step guide to how we rent out your property.

Druce is instructed to let

Druce will discuss with you such matters as whether you have a mortgage on the property and you have the relevant buildings insurance.

You can then instruct Druce to act as your agent by completing this form and returning it to us. There is a reduced fee if you appoint Druce as sole agent.

Marketing

We commission professional photography and floor plans of your property, at no cost to you. To promote it, we use a spectrum of marketing tools, from property portals (for example: Zoopla, Rightmove) to state-of-the-art computerised window displays and printed publications, both local and national.

Over the years, Druce has developed strong relationships with a number of top relocation agents. These agents act for large institutions, banks and blue chip companies operating in London, such as HSBC, BNP Paribas, Shell plc and Barclays Bank PLC. Our relationships with these agents enable us to access corporate-backed professional tenants.

Viewings

A local lettings agent will guide prospective tenants through the property on an individual appointment basis.

Checks and Balances

While we are marketing your property, you should make sure you have all the necessary safety certificates and permissions to let, including any licence where applicable.

As the landlord you’re responsible for the electrical safety report, Gas Safety report, boiler installation certificate, Energy Performance Certificate (EPC), legionella risk assessment, fire safety risk assessment and portable appliance testing (PAT).

If you are a non-resident landlord (i.e. you live abroad for six months or more per year), you can apply to HMRC for a Certificate of Self-Assessment in order for rents to be paid over gross. We strongly recommend that all overseas landlords apply for self-assessment. Alternatively, Druce offers an overseas landlord service, whereby the basic tax rate is deducted at source from the net rental income and paid direct to HMRC.

Offer Agreement

Druce will negotiate the best deal on your behalf – this will include any conditional terms, rent level, payment terms and length of tenancy. Thereafter, Druce will commence the referencing process and draft the Tenancy Agreement.

Contracts Signed

Initial funds are requested from the applicant(s). This is normally a security deposit equivalent to five-weeks’ rent (for annual rents of £50,000 or less) or six-weeks’ rent (for annual rents of £50,000 or more), plus the monies for the first rental period. Depending on what is agreed, the first rental period may be monthly, quarterly, half-yearly or all in advance.

Pre-tenancy

The inventory report and pre-tenancy clean can be arranged through Druce. Inventory reports are an essential part of the renting process and we strongly recommend one is undertaken at the start of each new tenancy. This helps to determine if the tenant has caused damage or removed any goods which may need to be accounted for at the end of the Tenancy Agreement. The inventory report is produced by a third-party contractor.

Tenancy Start

Following receipt of cleared funds and signed contracts, keys will be released to the new tenant(s) on the start date of the tenancy.

Discover more about Landlords’ fees and our Lettings Terms of Business here.

Latest News:

Druce expands its London footprint with five new branches Central London estate agency Druce has expanded its base with the acquisition of Bective, one of the capital's premier estate agencies. Established in 1822, Marylebone-based Druce has taken over all five of Bective's branches: Kensington, Chelsea, Brook Green, Ladbroke Grove and Notting Hill. The branch offices have been rebranded and now form part of the larger Druce business. Druce's CEO, Robert Bartlett, commented, "This acquisition has enabled us to rapidly expand our presence within Central London, increasing our footprint to six agencies across several prime locations. Bective’s heritage is aligned with our own, and we feel that the combined entity will allow us to reintroduce the Druce brand in the capital."