Why choose us?

Having an EIC instead of an EICR. That's an Electrical Installation Certificate, which certifies that new electrical work or alterations comply with safety standards, rather than an Electrical Installation Condition Report, which assesses the condition of existing systems to check continued safety.

Gas Safety Inspections missing gas appliances on the report. Particularly if done by British Gas, we find that when they install a new boiler, for example, and conduct their Gas Safety, it's in their fine print that there's a charge to check additional appliances - which people often miss. People end up believing they're covered, but in reality they're not.

Smoke and CO alarms not properly checked or documented. These are required as part of fire safety.

Everything mentioned above can carry hefty fines and/or imprisonment if not resolved before new tenants move in.

No thumbturn locks These are for fire safety and aid in being able to easily evacuate in case of a fire.

Missing prescribed information and 'How To Rent' guides. Mishandling of a deposit leaves you open to action from tenants, where they can claim for up to 3X the deposit amount in compensation.

HMO licensing not fully understood. Licensing rules differ from borough to borough, and often depend on the type of property. If a rental property is missing the correct licence, fines of up to £30K can apply.

Legionella Risk Assessments not considered. An LRA evaluates the risk for the bacterium that causes Legionnaires disease. Chance of this where water has sat stagnant is much higher, and this is often the case during void periods between tenancies.

24/7/365 Tenant support: on a basic level, a Property Manager takes over the day-to-day running of your rental investment. They handle all incoming questions and issues reported by your tenants. The provide round the clock support, and good ones will troubleshoot all issues before they're escalated to a contractor. Crucially, they cover evenings, weekends and holidays, so you never have to worry about being 'on call'.

Resolving maintenance issues: they'll deal with contractor selection, diagnosis, and quality control when it comes to fixing maintenance issues within your property.

Legal compliance: they'll handle all legal compliance, including gas, electrical, fire safety, EPCs, licensing and deposit protection. A Property Manager stays on top of the ever-changing legal landscape, keeping your property compliant as new rules are implemented.

Deposit negotiation: Property Managers are able to have those tough conversations when it comes to deposit deductions. On average, landlords with a managing agent achieve more compensation from deposits to cover damage compared to those who self-manage.

Property reviews: a Property Manager is your eyes on the ground, conducting property reviews at regular intervals.

Asset management: a good Property Manager, like those we have at Paramount, is also an Asset Manager. They manage your property - and your property portfolio - with your future plans in mind.

Do you trust their reviews? Do they have a long history of legitimate happy landlords willing to give them positive reviews on Google? (You can see ours here)

What's their style? Do they wait for issues to be reported to them, or do they conduct regular video-recorded property reviews and help nip any future maintenance issues in the bud before they become expensive? Do they offer maintenance road maps as a service to help you budget and plan ahead?

Are they professionally accredited? Look for membership in a professionally recognised body like ARLA Propertymark.

Are they compliant? Look for participation in a Client Money Protection (CMP) scheme as well as a redress scheme like The Property Ombudsman.

Property management fees are usually charged as a percentage of the rental income, and can be charged on a monthly or annual basis. Sometimes an agent will offer a discount for paying upfront for the year - so be sure to ask.

London rental licensing schemes exist to raise housing standards and protect tenants against a small minority of landlords who might otherwise take advantage. Not having the correct licence in place can carry hefty fines and enforcement actions, so it's important to know what scheme applies to your rental.

The rules of each licensing scheme differ depending on the London Borough - for example, Newham requires selective licensing for almost all privately rented properties, whereas Westminster requires additional licensing for only certain HMOs in certain wards. The latter applies to specific property types rather than all rentals.

Depending on your property and the local council rules, you may need a selective, additional or an HMO licence. As your Managing Agent, it's our job to make sure you have the correct valid licence for your area. It's also our job to keep on top of any changes in regulation. We can prepare the paperwork and ensure you're fully compliant from day one.

A House in Multiple Occupation, or 'HMO', is a property rented out by at least three people from different households who share facilities like a kitchen or bathroom. Larger HMOs with five or more tenants forming more than one household usually need a mandatory HMO licence.

Mandatory HMO licence: this applies to larger HMOs where 5 or more people forming 2 or more households share facilities like a kitchen or bathroom.

Additional licence: can be applied to HMOs that fall outside the mandatory category, such as a shared house with 3 or 4 people, depending on borough-specific rules.

Selective licence: some boroughs require a licence for privately rented properties even if they're not an HMO.

Gas Safety: a CP12 certificate must be produced annually by a Gas Safe registered engineer, and a copy provided to tenants.

Electrical Safety: a full electrical inspection and Electrical Installation Condition Report (EICR) must be completed every 5 years . A copy must be provided to tenants.

Energy Performance Certificate (EPC): an in-date EPC must be produced for a domestic property in London before it can be rented out or sold, and a copy provided to tenants or buyers. As of 2018, a property must have a minimum EPC rating of 'E' to be rented out.

Fire Safety: regulations are particularly stringent for HMOs, and cover things like alarms, evacuation routes, fire doors, and extinguishers.

Licensing Schemes: a rental property must have the correct HMO/Selective/Additional licence according to their local borough's regulations.

Tenancy Deposit Protection: a tenant's deposit must be registered with a government-approved scheme, like the Tenancy Deposit Scheme (TDS), within 30 days of the beginning of a tenancy. Prescribed information must also be provided to the tenants. Failure to do so can invalidate an eviction notice and lead to financial penalties.

Right-to-Rent Checks: a person applying to live in a rental property in London must have their right to rent in the UK checked against government rules.

A landlord needs to have Buildings Insurance to cover the physical structure of the property, including fixtures and fittings. Often times, unless you are the Freeholder, this insurance is included by your building's managing agent.

We also high recommend Rent Recovery Insurance. For a relatively low cost, this insurance protects landlords in the event their tenant can no longer pay their rent, and covers legal costs if you were to have to take the issue to court.

While landlords can currently refuse pets in their rental property, the Renter's Rights Bill will require a valid reason, such as terms in their leasehold agreement or a severe allergy. Landlords can request pet insurance be obtained to cover the cost of potential damages.

Yes, HMRC's guidance explicity lists letting agent fees and management fees as an allowable expense you can deduct from your rental income.