2 & 3 Greenland Quay Handover

From Rainbow capital property ltd to cj carpenter properties ltd

handover notes / Jerry’s To Do List

  1. Rent Reconciliation - on the tab in the spreadsheet below we have reconciled the rents we have received, plus the deposits held, less the costs we have incurred, totalling roughly £22,000. We are transferring this amount directly to your bank account. You will get another £10,250 of rent on 1st December plus some deposit top ups

  2. New Tenancies - we have renewed all tenancies at higher rents until 31st August 2023. The monthly rental roll is now £10,250. Copies of each new tenancy are in the dropbox folder. You might want to send to the bank.

  3. Rent from 1st December - we will instruct the tenants to pay their rent for December directly to your bank account being CJ Carpenter Properties Ltd. S/C = 30-13-93; A/C 20036904

  4. Tenant Communications - In the filestore are copies of each tenancy contract, their application form and their right to rent ID check. In the spreadsheet are their contact and biographical details. We communicate with them mostly via a WhatsApp group. We also text, email and call them as necessary. Ideally you would buy a new mobile phone and give the tenants that number and probably set up new Whats App groups

  5. Deposits - we hold £10,022 of tenant deposits plus £100 of deposit increases. Most tenants are due to pay a deposit top up but only one has done so. I think another has paid you directly. The rest should pay the top on with their increased rent on 1st December. They are all protected in the TDS scheme and the certificates are in your data room. We will transfer the deposit money to you. You would ideally take out a new account with TDS and register the new deposits with them

  6. Keys - each tenant has a key that opens their room only and the common entrances. You can have a master key that opens them all that we will order for you. The keys cannot be copied without our consent which stops tenants making copies. The locksmith is SDS in Clapham. We deal with Simon Ayers. 020 7228 1185. We have spares for every door which we are giving to you. We have no spare for 2/2GQ. I suggest I order you three new master keys that open every door, plus two spares for 2/2GQ - so five new keys in total.

  7. Heating and Hot Water - 2GQ has a tank for its hot water (HW) and a boiler for the central heating (CH). 3GQ has a combi boiler that does both. Everything is maintained by a plumber called Anton. His numbers 07808 242636 and 07956497339. The CH and HW is controlled remotely by a controller made by Inspire Home Automation. We control the heating times via an app. You need to register for an an online account with Inspire then I can assign control to you. For the winter months, we have just changed the programmed times that the heating comes on to 630am - 930am and then 630pm - 930pm. The tenants can ‘boost’ the heating for an hour at a time outside the programmed times. www.rainbowcapital.co.uk/heating

  8. Utilities - you will need to re-contract with suppliers for energy (gas and electricity - currently with Octopus), water (currently with Thames Water, Council tax (LB Southwark), Broadband (Hyperoptic), TV licence

  9. Internet - Our ISP is HyperOptic. The HyperOptic router supplies a wireless signal as well as a wired ethernet network connected to each room. Wifi access points are plugged into various outlets throughout the property. The broadband in each property is superfast 1GB and works well. I am cancelling my accounts with Hyperoptic with effect from 15th December. The monthly charge has been £60 per month. However, if you contract with Hyperoptic you should be able to re-contract at their current discounted offer rate of £35 per month, saving £50 per month across the two properties for two years (£1200).

  10. Compliance - Copies of safety certificates for gas, electricity, fire risk, emergency lighting, fire panel, EPC etc are located in the filestore

  11. HMO Licences - new HMO licences have been applied for. Total cost each £1500, of which £1050 has been paid by us so far. We would expect them to be granted within a couple of weeks.

  12. Cleaning - the tenancy contracts include cleaning every fortnight. The cleaner is Polish, she’s called Halina. Her number is 07367 096105. She charges £15 per hour, ideally cash, and generally does 3 hours per property. So monthly budget is 2 houses x 3 hours each week x 2 weeks x £15 = £180. Recently she has been cleaning each house each week rather than each fortnight.

  13. Paint and Stair Carpets - we use Sanderson SilverFlake emulsion on the walls and ceilings and on the woodwork we use Sanderson SilverFlake Eggshell. In places, the houses would benefit from some redecoration and potentially new stair carpets. We could quote for this work if you’re interested. We have some spare stair carpet in stock

  14. Maintenance - even if you don’t retain us as managers, we would happily support the house with maintenance. Our day rates are £200 per day per person for a six hour day, £120 for a half day or £60 for a call out. Main issues we get are occasionally the shower seals get worn and need replacing. Light bulbs blow from time to time of course. Appliances (all Bosch) sometimes get blocked or fail usually due to tenant misuse. We can fix almost everything ourselves.

  15. Future Property Management - ideally my colleague Tom and our team James and Atila, would continue to manage the two properties (and others if you have them) in the same way we always have. See this link for a proposal.

 

  • Condition Survey

  • Tenancies

  • Utilities

  • Land Registry Title

  • Safety Certificates

  • Floor Plans

  • HMO Licence

  • Photos

  • Valuation Surveys

 

rent review

 

Approaching rent increases, the key is to maintain or improve the return on equity %. So as costs like mortgage interest and energy increase, rents increase by more

USEFUL LINKS

House Intranet Pages

Forms

Other Info Pages