Home Lettings Our Fees to Landlords and Tenants

Our Fees to Landlords and Tenants

For your peace of mind we are members of the following Organisations and subscribe to the Code of Practice for Lettings Agents.

CLIENT MONEY PROTECTION PROVIDED BY:

Royal Institution of Chartered Surveyors
An independent organisation acting in the public interest, setting and regulating highest standards of competence among its members.
Rics
The National Approved Lettings Scheme
An accreditation scheme for lettings and management agents offering peace of mind to landlords and tenants.
Approved Lettings Scheme

INDEPENDENT REDRESS PROVIDED BY:

Ombudsman Services: Property
A Government approved redress mechanism. We have in place a Complaints Handling Procedure approved by the RICS.
Ombudsman

We believe in total transparency and want all clients to have a clear understanding of our fees and charging structure. Please therefore take time to read this document and please do not hesitate to ask if you would like any points clarified.

FEES TO: LANDLORDS

Letting Fee:

Let Only Service 11.5% inclusive of VAT
Rent Collection (includes Let Only Service) 15% inclusive of VAT
Fully Managed Service (includes Let Only Service & Rent Collection Service) 17% inclusive of VAT

Our Letting Service:

We provide the following three levels of property service – Let Only, Rent Collection & Full Management: (the minimum fee is £750 inclusive of VAT)

SERVICE LET ONLY RENT COLLECTION FULL MANAGEMENT
Full marketing of the property
Accompanying viewings
Tenant referencing
Preparing tenancy agreement and prescribed information
Collecting 1st month’s rent & deposit
Rent Guarantee (for the first year of the tenancy)
Negotiating Tenancy renewals
Protection of the deposit with TDS
Collection of the monthly rent
Prompt payments to landlord via online banking
Monthly provision of a property management statement
Chasing late rent payments
Registering new tenant with utilities and council tax
Provision of an income & expense Report
Dealing promptly with any maintenance & repair issues
24 hour emergency telephone number for tenants
Undertaking routine property inspections
Serving appropriate notices
Retaining non-resident landlord contributions (if required) and quarterly submission to HMRC
Organizing annual gas safety records*
Organizing energy performance certificate (if required)*
Organizing independent inventory*
Arranging tenancy check-in*
Arranging tenancy check-out (paid for by tenant)
Attending court for possession hearings if required
Handling deposit claims

*Additional charges are payable – see below

Our Letting Service:

Renewal Fees: 7.2% inclusive of VAT
A renewal fee is due if the tenant or anyone associated with the tenant continues to reside in the Property after the original tenancy term ceases. The fee is due irrespective of the level of service.

Inventory Fees: £100 to £240 inclusive of VAT
Prices are dependent on the number of bedrooms and size of property.

Check-In Fees (landlord’s share): £70 to £190 inclusive of VAT
Prices are dependent on the number of bedrooms and size of property.

Deposit Registration Fees: £40 inclusive of VAT
Protection of the Deposit under the Tenancy Deposit Scheme.

Energy Performance Certificate: £66 inclusive of VAT

Gas Safety Certificate: £66 inclusive of VAT

Additional Property Visits: £50 inclusive of VAT

Arrangement Fee for refurbishment/works over £1,000: 12% of net cost inclusive of VAT
• 12% of net cost inclusive of VAT
• Ensuring work has been carried out in accordance with the specification of works;
• Retaining any warranty or guarantee as a result of any works.

Late Payment Fee: £90 inclusive of VAT + interest
If our account for remuneration remains unpaid for more than 30 days after the due date, interest will become payable at the rate of 8% p.a. above the Bank of England base rate.

Abortion of Tenancy: £200 inclusive of VAT
If a proposed Tenancy is withdrawn by the landlord after agreeing to proceed for any other reason than unsatisfactory references, the landlord agrees to pay this fee as a contribution towards administrative & marketing costs.

Additional Copies of Management/Financial Statements: VARIABLE
The fee is £50 inclusive of VAT per hour (the minimum fee is £20 inclusive of VAT) and is payable when substantial amount of duplicate historic financial statements that have already been provided are requested. The cost will be advised prior to the provision of the copies and is dependent on the type of copies requested (soft or hard copies) and the level of administration.

FEES TO: TENANTS

BEFORE THE TENANCY COMMENCES:

Referencing Fee – tenant: £120 inclusive of VAT per person
We undertake our referencing through an independent referencing agency. The referencing process involves identity and Right to Rent checks (i.e. immigration, visa confirmation etc.), credit check, landlord reference and employment reference.

Referencing Fee – guarantor: £60 inclusive of VAT per person
We undertake our referencing through an independent referencing agency. The referencing process involves credit check, landlord reference (if not homeowner) and employment reference/proof of income.

Contract Fee: Not chargeable
Change of tenants in a current tenancy. This fee is chargeable to both the outgoing and incoming tenant.

Pet Deposit:
Additional deposit of 2 – 4 weeks rent may be secured to cover the added risk of property damage. The deposit amount may vary depending on quantity and type of pets. This will be protected with your security deposit in a Government-authorized scheme and will be returned within 14 days of the tenancy cease date, the amount to be assessed post check-out.

DURING THE TENANCY

Tenancy Amendment/Administration Fee: £120 inclusive of VAT per person
Change of tenants in a current tenancy. The fee is chargeable to both the outgoing and incoming tenant.

Renewal Fee: Not chargeable

ENDING THE TENANCY

Check-out Fee (tenant’s share): £70 to £190 inclusive of VAT per property
Attending the property to undertake a check-out based on the original inventory. Costs are depending on size of property and can fluctuate subject to varying independent Inventory providers. The cost will be advised prior to check-out and will be deducted from the security deposit.

Future Landlord Reference Fee: £30 inclusive of VAT per reference request

OTHER FEES AND CHARGES

Out of Hours Service: £100 per hour inclusive of VAT plus any actual costs incurred
Where an action of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the prevailing rate.

Unpaid Rent: £35 inclusive of VAT for every full week the rent remains unpaid
Plus interest at 8% p.a. above Bank of England Base Rate from date due.

Professional Cleaning (if required - includes arrangement fee): from £150 to £675 inclusive of VAT
Only charged where professional cleaning is necessary to return the property to the same condition as at the outset of the tenancy. The costs vary depending on size and condition of the property and will be deducted from the security deposit.

Cheque/Standing Order: £25 inclusive of VAT
Fee is charged if bank charges incur as a result of a recalled standing order or an unhonoured cheque.

Missed Inspection: £30 inclusive of VAT
The fee is charged if the tenant fails to keep the appointment with the inventory clerk (only applicable if tenant arranged to be present during the inspection). This will be deducted from the security deposit.




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