Landlord Fees

LANDLORD FEES FOR RESIDENTIAL LETTING
Service offered:

 

Letting only. 9.6% of rent (Including VAT) for the term including any renewal.

Provide full range of Marketing

Accompanied property viewings

Negotiate offers with prospective tenants

Carry out independent referencing of tenants to ensure suitability of potential applicants

Produce tenancy paperwork

Provide tenant with method of payment

Deduct pre-tenancy invoices

Collect additional rent if required to cover balance of fees

Collect and remit initials month’s rent received and security deposit

Fully Managed. 18% of rent (including VAT) for the term including any renewal

All points listed in Letting only service plus

Collect and remit the monthly rent received

Pursue non-payment of rent and provide advice on rent arrears actions

Deduct commission and other expenses and required by landlord

Advise all relevant utility providers of tenant charges

Undertake one midterm inspection visit per tenancy and notify the landlord of the outcome

Arrange routine repairs and instruct contactors with landlord consent/approval

Hold keys throughout the tenancy term

Provide point of contact for both tenant and landlord

Provide landlord and tenant with security deposit registration certificate

Additional non-optional fees and services (irrespective of level of service)

TENANCY AGREEMENT – £150 inclusive of VAT

This will cover the administration costs involved in preparing the Tenancy agreement.

INVENTORY – up to 3 bedrooms – £180 inclusive of VAT

Where we are instructed on a Full Management basis, a full inventory of the property and its contents will be carried out by an Independent Inventory Company at the above cost.

CHECK-IN INSPECTION (payable by Landlord) – £180 inclusive of VAT

For Full Management services only, a Check-in inspection will be carried out on commencement of all Tenancies. This will be conducted by an Independent Inventory Company.

CHECK-OUT INSPECTION – £180 inclusive of VAT

For Full Management services only, at the commencement of all Tenancies, The Agent we will take funds from the Tenant to cover the cost of the Check-out inspection to be carried out on termination of the Tenancy.

GAS SAFETY INSPECTION – £90 inclusive of VAT for first appliance/ £30 inclusive of VAT per additional appliance

We can arrange for a Gas Safe qualified contractor to carry out a Landlord’s Gas Safety inspection to test the gas appliance(s) and issue a certificate as required by Law at the above cost. The initial charge will cover one appliance and any additional appliances will be charged per appliance. Should the Landlord decide to arrange the Gas Safety Inspection him/herself The Agent must be in receipt of the certificate prior to the commencement of the tenancy. The inspection will not usually be instructed until the balance of funds has been collected from the Tenant, unless the landlord provides funds in advance to cover the costs

CLEANING SURCHARGE – £30 inclusive of VAT

Where The Agent is requested to arrange cleaning of the property, there will be an administration charge in addition to the cleaning charge. The cleaning charge will be as invoiced by the cleaning company and will be determined on an individual basis. The Agent will select a cleaning firm from those on our books unless otherwise instructed.

COPY STATEMENTS – £30 inclusive of VAT per statement

Regular statements will be provided to all clients on a Rent Collection basis, timing dependent on rental period, by post or e-mail for overseas clients. An initial statement will be provided to all clients.

ADDITIONAL SERVICES – £72 inclusive of VAT per hour

Should we be required to carry out additional duties on your behalf, such as waiting at properties, key cutting or going to court, the above fees will be charged, plus any out of pocket expenses incurred. This charge will also be levied in respect of any work involved in negotiating or arbitration in respect of deposit disputes or insurance claim work.

TAX REMITTANCE FOR OVERSEAS LANDLORDS – £180 inclusive of VAT per annum

Where a Landlord resides overseas and does not hold a valid exemption from HM Inland Revenue, The Agent will as per our legal obligations, deduct tax from the rental income to be remitted to HM Inland Revenue on a quarterly basis and the above charge will be payable.

RENEWALS

Where the term of a Tenancy is renewed, a further commission will be payable based on the terms of the initial contract. After the first year the commission rate will be reduced by 1.2% inclusive of vat and further reductions of 1.2% inclusive of vat will be applied after each subsequent 12 month period to a minimum fee of 9.6% inclusive of vat. By agreeing to allow the Tenant to stay in the property, the Landlord agrees to pay our renewal commission on the renewal date. Late payments will incur an administration charge of £60.00 inclusive of VAT and interest will be applied at a rate of 3% above Bank of England Base Rate after 14 days of date of invoice, or date of renewal, whichever is the later.

SERVING NOTICE – £66 inclusive of VAT

Where we are required to serve the appropriate notice at the end of a fixed term tenancy or to terminate a periodic tenancy, we will do so subject to receipt of sufficient notice (10 weeks) and payment of the appropriate fee.

Arrange EPC Certificate – £90 inclusive of VAT

Redress scheme and client money protection

This agency is a member of a redress scheme and that scheme is The Property Redress Scheme (www.theprs.co.uk)

This agency is not a member of a client money protection scheme.