Letting Fees

Landlords

LEVEL OF SERVICE OFFERED:

Tenant find and tenancy set-up fee (landlord’s share):

10% incl VAT of annual rent roll subject to min. fee of £780 incl VAT

Includes:

  • Agree the market rent and find a tenant in accordance with the landlord’s guidelines
  • Advise on refurbishment
  • Provide guidance on compliance with statutory provisions and letting consents
  • Carry out accompanied viewings (as appropriate)
  • Market the property and advertise on relevant portals
  • Erect board outside property in accordance with Town and Country Planning Act 1990
  • Advise on non-resident tax status and HMRC (if relevant)
  • Collect and remit initial months’ rent received
  • Agree collection of any shortfall and payment method
  • Provide tenant with method of payment
  • Deduct any pre-tenancy invoices
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant)

Full management of property:

12% of annual rent roll incl VAT

Includes:

  • Collect and remit the monthly rent received
  • Pursue non-payment of rent and provide advice on rent arrears’ actions
  • Deduct commission and other works
  • Advise all relevant utility providers of changes
  • Undertake twoinspectionvisits per annum and notify landlord of the outcome
  • Arrange routine repairs and instruct approved contractors (providing two quotes)
  • Hold keys throughout the tenancy term

Deposit registration fee:

£30 incl VAT

Includes:

  • Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme
  • Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy

Rent review fee:

£150 incl VAT

Includes:

  • Review rent in accordance with current prevailing market condition and advise the landlord
  • Negotiate with tenant
  • Direct tenant to make payment change as appropriate
  • Update the tenancy agreement
  • Serve Section 13 Notice if tenancy is on a rolling monthly basis

Tenancy agreement renewal fee (landlord’s share):

£150 incl VAT

Includes:

  • Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

Additional property visits’ fee:

£168 incl VAT per visit

Includes:

  • To attend for specific requests such as neighbour disputes, more visits are required to monitor the tenancy, or any maintenance-linked visit

Submission of non-resident landlord’s receipts to HMRC:

£120 incl VAT per submission

Includes:

  • To remit and balance the financial return to HMRC quarterly and respond to any specific query relating to the return from the landlord or HMRC

Checkout fee (landlord’s share):

£150 incl VAT

Includes:

  • Agree with tenant check out date and time appointment
  • Instruct inventory provider to attend (if third party provider used)
  • Negotiate with landlord and tenant for any disbursement of the security deposit
  • Return deposit as agreed with landlord and tenant to relevant parties
  • Remit any disputed amount to Scheme for final adjudication
  • Unprotect security deposit
  • Instruct contractors, obtain quotes, organise repairs /replacement/cost of any broken or missing items

Court attendance fee:

£200 incl VAT per hour

Inventory fee (landlord’s share):

See attached schedule

Dependent on the number of bedrooms and/or size of the property and outbuildings and also whether a new inventory to be set up or existing template used.

Tenants

BEFORE YOU MOVE IN:

Tenancy set-up fee (tenant’s share):

£300 incl VAT for up to 2 tenants

Includes:

  • Referencing up to two tenants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.

Reference fee (by independent specialist firm – MARAS):

£30 incl VAT per person

Additional tenant/guarantor/permitted occupier fee:

£50 incl VAT per person

Includes:

Processing the application for an additional tenant, associated paperwork and referencing

Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement for a Guarantor

Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy

RENT: As required, dependent on the property

Payable monthly in advance by standing order.

DEPOSIT: As required, dependent on the property

Payable prior to the start of the new tenancy. 25% of the holding deposit may be requested to reserve a property for the prospective tenants whilst referencing takes place which is non-refundable should the tenants decide not to continue with their tenancy application of that property. Tenancy deposits will be held and registered with the Tenancy Deposit Scheme.

PET DEPOSIT: As required, dependent on the property

Additional deposit payable prior to the start of the new tenancy and held to cover the added risk of property damage together with the main deposit.

ACCOMPANIED CHECK-IN FEE (TENANT’S SHARE): £120 incl VAT

Includes:

  • Preparing an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services

DURING YOUR TENANCY:

Amendment fee:

£168 incl VAT

Includes:

  • Contract negotiation, amending terms and updating your tenancy agreement during your tenancy

Renewal fee (tenant’s share):

£60 incl VAT

Includes:

  • Contract negotiation, amending terms and arranging a further tenancy and agreement

ENDING YOUR TENANCY:

Check out fee (tenant’s share):

£60 incl VAT

Includes:

  • Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)

Future landlord reference fee:

£18 incl VAT per reference request

Includes:

  • Collating information and preparing a reference for a future landlord or letting agent

OTHER FEES & CHARGES:

Out of hours services’ fees:

£168 incl VAT per hour plus any actual costs incurred

Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the prevailing rate.

Professional cleaning (if required):

£18 incl VAT per hour

This will be deducted from the security deposit but will only be charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.

If you have any questions, please contact us.

Client money protection provided by: RICS Client Money Protection Scheme
Independent redress scheme provided by: The Property Ombudsman (www.tpos.co.uk) or CEDR Solve