Fees and Charges Explained
RESIDENTIAL LETTINGS
INDEPENDENT REDRESS
We are a member of Property Redress Scheme
CLIENT MONEY PROTECTION
We are a member of Client Money Protect
OUR CHARGES AND FEES TO LANDLORDS FOR RESIDENTIAL LETTINGS / MANAGEMENT
Lettings Only Service
Includes:
- advice on the market and lettings process;
- advice on landlord statutory duties;
- arranging an EPC (if not already in place);
- arranging Gas Safe and EICR checks (if not already in place);
- marketing, advertising and viewings;
- negotiating offers; and
- arranging check-in and check-out inspections.
Fee:
10% plus VAT (12%) of the rent payable during the tenancy.
Letting and Rent Collection Service
Includes all of the above, plus:
- collection and distribution of rent;
- payment of property-related invoices;
- statements of account to the landlord or their accountant; and
- annual HMRC reporting relating to rents received.
Fee:
12% plus VAT (14.4%) of the rent payable during the tenancy.
Fully Managed Service
Includes all of the above, plus:
- arranging pre-tenancy and post-tenancy cleaning;
- arranging transfer of utilities;
- attending to day-to-day maintenance and repairs;
- periodic property inspections; and
- negotiating the return of the tenancy deposit.
Fee:
15% plus VAT (18%) of the rent payable during the tenancy.
Administration Charges
Includes:
- references;
- Right to Rent checks;
- preparation of tenancy documentation; and
- deposit registration.
Fee:
£250.00 plus VAT (£300.00)
Other Services
- Energy Performance Certificate (EPC) – £78.00 including VAT
- Inventory check-in and/or check-out – from £156.00 including VAT
- Gas Safe Certificate and Service – from £216.00 including VAT
- EICR (Electrical Installation Condition Report) – from £336.00 including VAT
- Deposit Protection Service (protection of deposit) – no charge
OUR CHARGES AND FEES TO TENANTS FOR RESIDENTIAL TENANCIES
Holding Deposit
A holding deposit equal to one week’s rent is payable to reserve the property and will be offset against the first month’s rent.
Rent
The rent is payable in advance at the intervals specified in the Tenancy Agreement. Any proposed rent changes will be made in accordance with the Tenancy Agreement and current legislation.
Deposit
A tenancy deposit equivalent to five weeks’ rent is payable, or six weeks’ rent where the annual rent exceeds £50,000 per annum.
Utilities
Utility bills as set out in the Tenancy Agreement.
Change of Tenancy Fee
For the preparation of documentation associated with any agreed change to the tenancy, including a change of occupier requested by the tenant – £50.00 including VAT.
Tenancy Deposit
We are members of the Deposit Protection Service and there is no charge to the tenant for this service.
Default Fees
The Tenancy Agreement sets out the circumstances in which a tenant may be liable for a default fee. This may include interest for late payment of rent in accordance with applicable legislation, or the reasonable cost of replacing lost keys or security devices.
Early Termination
Should a tenant request to end the tenancy and the landlord agrees to an early termination, the tenant may remain liable for the landlord’s reasonable costs incurred in re-letting the property, together with any rent due until a new tenancy commences.
Damages Payments
The Tenancy Agreement sets out the circumstances in which a tenant may be liable for damages arising from a breach of the tenancy agreement. This may include the cost of repairing damage to the property, fixtures or furnishings caused by the tenant, excluding fair wear and tear. Such costs may be deducted from the tenancy deposit where appropriate.
INDEPENDENT REDRESS
We are a member of Property Redress Scheme (www.theprs.co.uk)
CLIENT MONEY PROTECTION
We are a member of Client Money Protect