Frequently Asked Questions
Q: Why should I use a managing agent?
A: Choosing a fully managed service allows you to completely relax. You never have to worry about the let or the property. It creates a professional distance between you and the tenancy and means you can avoid having to deal the midnight call for heating that has stopped working, or the worry of being compliant with all the latest legislation. Occasionally, tenants can fall into arrears or there may be a dispute over the deposit – don’t worry, we can deal with this too!
Q: How do I receive my rental income from Lewis & Foy?
A: If you choose a Rent Collect or Fully Managed service, we will organise for the tenant to pay the rent via standing order or direct debit. We will then transfer the money to your account minus our commission and any outgoings or fees (such as maintenance work fees). You will receive a statement together with the balance on the Friday following receipt of the rent (subject to bank clearance).
Q: Will my agent keep my money safe?
A: If you have chosen a regulated agent like Lewis & Foy, then your money will be protected through the Client Money Protection Scheme. Not all agents are regulated, but Lewis and Foy choose to be. We are members of ARLA Propertymark and the Property Redress Scheme.
Q: What is ARLA Propertymark?
A: The ARLA Propertymark is the leading professional and regulatory body for letting agents in the UK. ARLA Propertymark is dedicated to protecting consumers by improving standards and professionalism within the lettings industry. Remember, letting agents are not regulated by law. Lewis and Foy choose to be members of a regulatory body.
Q: What is the Property Redress Scheme?
A: The Property Redress Scheme is an independent body to which landlords can refer any complaint should the agent fail to address it to their satisfaction.
Q: What if the tenant damages the property?
A: Either the tenant pays to fix the damage, or the cost for fixing the damage is removed from the tenant’s security deposit at the end of the tenancy. However, fair wear and tear should be allowed for.
Q: What is the difference between a Fully Managed Property, Rent Collection and Let Only options?
A: If the property is Fully Managed, then Lewis and Foy are both the landlords and tenants first point of contact on all matters from start to finish. Let Only means that we find tenants for the property, arrange the paperwork, and move the tenant into the property. After this the Landlord takes over the management of the property. For our clients who have Rent Collection only, we simply collect and process the rent each month but providing reassurance that we can monitor and chase any arrears if this occurs. Most properties are Fully Managed providing reassurance to both landlords and tenants.
Q: Do you charge “extra” fees?
A: No we operate a very clear and simple pricing plan for each applicable service. Our fully managed service provides you with everything needed to run a successful and compliant tenancy.