Residential Property Management
Cherry & Cherry manage various residential properties in Exeter and some of the surrounding villages. Some are straight residential investments but, over the years, a number of the properties that we have looked after are the homes of clients who are working elsewhere in the country or overseas. Some are missionaries; others are business and professional people.
We provide a full management service, including careful tenant selection; credit and other references; schedules of condition and inventory; Assured Shorthold Tenancy Agreements; routine inspections; and quarterly statements of account. We also organise energy performance certificates and landlords’ gas safety certificates.
Repairs and maintenance are dealt with promptly by a number of local independent trades people who we have found to have high standards of service and workmanship and are able to provide a cost effective, prompt and professional service. These include an electrician, plumber, gas engineer, joiner, painter, roofers and general builders.
Holding Deposit (per tenancy)
Two weeks’ rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy)
Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy and will be held by the Deposit Protection Service.
Unpaid Rent
Interest at 4% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request)
£50 per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request)
£50 per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant’s Request)
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
CLIENT MONEY PROTECTION: RICS
INDEPENDENT REDRESS: Property Redress Scheme