You can use this checklist to gather together the required information and documents before starting the HealthCheck as there is no 'Save & Return' option.
SUPPORTING DOCUMENTS TO BE UPLOADED WITH YOUR QUESTIONNAIRE
Summary page(s) from your Tenant Deposit Scheme Provider(s) (must show number of tenancies & value of deposit protected)
Detailed Bank Statements covering the last 30 days for ALL Client Money accounts held include tenant deposit accounts, overseas tax etc. All statements must show running balances
Detailed Bank Statements for the period 1st to 31st March 2018 for all Client Money accounts held. *Or ALL Client Account bank statements if your agency only started trading within the last 6 months
Bank Letter confirming that all Client Money Accounts are ring-fenced and that the bank has no right to set off funds against any company, business or personal liabilities.
SOME OF THE INFORMATION THAT WILL BE REQUIRED
Use the image below to see the information that will be required. The numbers in the table refer to the numbers in this article:
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Lettings Portfolio Information |
(1) |
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Not currently available in Jupix, please use manual records to identify |
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Not currently available in Jupix, please use manual records to identify |
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(2) |
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(3) |
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(4) |
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(5) |
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Money held |
(6) |
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(7) |
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(8) |
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(9) |
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(10) |
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Business activity over last 3 months
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(11) |
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(12) |
1.
Q. Total Number of active tenancies where you collect rent on a monthly, weekly or quarterly basis?
A. Please go to your dashboard and go onto the Property Management panel and click onto active tenancies - then on the left-hand side please ensure that under Management type only Managed & Rent collection is ticked, then in the top it will display how many tenancies you have.
2.
Q. Number of properties in your portfolio that are fully managed?
A. Please go to your dashboard and go onto the Property Management panel and click onto active tenancies - then on the left-hand side please ensure that under Management type only Managed is ticked, then in the top it will display how many tenancies you have.
3.
Q. Average monthly rent on AST's across portfolio.
A. Go to Reports, and Deposit Held Report. Generate the report into CSV format. The average rent can be calculated in Column P. However, please ensure you have deleted any rents that are not monthly, i.e. annual, quarterly etc.
Use the filter function on Column Q set to PCM only.
Use the Average Sum function at the end of Column P to calculate the average monthly rent.
4.
Q. Number of Non-UK Resident Landlords where no tax exemption certificate held?
A. Reports - HMRC Reports - Annual Tax Return (NRLY)
Manually count number of landlords with no certificate number listed in Approval Column B
5.
Q. Number of Protected & Unprotected Tenant Deposits?
A. Reports - Deposits Held Report will list all the deposits logged in Jupix. Generate a CSV copy and save as an Excel workbook.
Copy the whole sheet and paste a copy into two new sheets.
Sheet 2 - Rename as Protected deposits. Filter column N and remove any items which are not DPS/MyDeposits or TDS.
Column K - you will need to note the Average Sum, the Sum Total and the Count of items, i.e:
Average deposit value = £2295.26
Count number of items = 47
Sum total value of all protected deposits = £107877.15
Sheet 3 - Rename as Unprotected deposits. Filter column N and remove any items which are protected (as above), leaving only unprotected items.
Note of Caution!
If you have not updated your deposit records this report will not 'match' the deposit protection provider's records and will possible result in your not passing the HealthCheck. See Sheet 2 (Protected Deposits) from R39 - R48.
6.
Q. Total number of all 'in advance' rents held today?
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7.
Q. Total value of all tenant money being held for new tenancies not yet started (rent, deposit, application fee)?
A. Reports - Trial Balance Report - Ensure 'Detailed' is selected and generate.
Note: This report only shows the total tenant credit held, it cannot distinguish between rent paid in advance and monies receipted for new tenancies.
You will need to use the detailed breakdown of tenant balances to manually identify which monies are being held in advance of rent due dates, and which are for new tenancies not yet started.
8.
Q. Landlord money held for maintenance/floats?
A. Reports - Landlord Retention Report
9.
Q. Other landlord money being held (e.g. service charges)?
A. Reports - Trial Balance Report - Ensure 'detailed' is selected.
You will need to manually review the Landlord Cash balances to identify.
10.
Q. Unclaimed client money?
A. Please go to your dashboard and go onto the Account panel and click onto the Suspense option
11.
Q. Number of new managed/rent collect tenancies created?
A. Please go to your dashboard and go onto the Property Management panel and click onto active tenancies - then on the left-hand side please ensure that under Management type, only Managed & Rent collection is ticked then in the top it will display how many tenancies you have (as in (1) above). Then on the right-hand side, click on refine search and put the tenancy start date to 3 months prior.
12.
Q. Number of new let only/tenant find tenancies created?
A. Follow the above instructions, but select Let Only as the Management type.
