RESIDENTIAL LETTINGS our fees and charges explained

OUR CHARGES and FEES for RESIDENTIAL LETTINGS / MANAGEMENT

to the LANDLORD

 

LETTING ONLY SERVICE - this service includes advice on pre-letting, statutory duties, arranging an EPC, producing property details and marketing, conducting viewings and negotiations, applying for references, preparation of paperwork (to include tenancy agreement), dealing with deposit and deposit scheme, arrangement of check-in and check-out inspections (at landlord cost), arrangements for statutory safety checks (at landlord cost)

          10% plus VAT (12% including VAT) of the total first years rent reserved under the tenancy agreement

          7.5% plus VAT (9% including VAT) of the total second years rent reserved under any renewed tenancy

          5% plus VAT (6% including VAT) of the total rent reserved for the remainder of the tenancy and of the rent payable under any extension of the tenancy

MANAGEMENT SERVICE - this service includes the above ‘Letting Only Service’, plus arrangement of any cleaning, transferring of utilities, collection of rent and statements to landlord, settlement of invoices, day to day maintenance and repairs

          5% plus VAT (6% including VAT) in addition to the letting fees outlined above

ENERGY PERFORMANCE CERTIFICATE - £60.00 including VAT

PROTECTION OF THE DEPOSIT - We are a member of the Deposit Protection Service and there is no charge to the Landlord for this service.

INVENTORY CHECK-IN and CHECK-OUT – The Landlord is responsible for both. This cost will vary depending on the size of the property, however should be no greater than £200.00 including VAT per inspection.

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 (www.clientmoneyprotect.co.uk)

 

 

OUR CHARGES and FEES for RESIDENTIAL LETTINGS to the TENANT

renting a home under an Assured Shorthold Tenancy (AST)

 

RESERVATION FEE - One weeks rent to be paid as a good faith reservation fee which will be offset against the first month’s rent

RENT – The agreed amount of rent to be paid at regular, specified intervals in equal amounts. The amount payable may change under a ‘rent review’ clause that enables both rent increases and decreases if included in the Tenancy Agreement.

TENANCY DEPOSIT - Five weeks rent to be paid as tenancy deposit, or Six weeks rent to be paid as tenancy deposit (where the annual rent is greater than £50,000.00 per annum).

UTILITIES – Utility bills as set out in the Tenancy Agreement.

CHANGE OF TENANCY FEE - For preparation of any paperwork or new tenancy agreement associated with any change to the tenancy including change of occupier, at Tenant request - £50.00 including VAT

PROTECTION OF THE DEPOSIT - We are a member of the Deposit Protection Service and there is no charge to the Tenant for this service.

DEFAULT FEES – The Tenancy Agreement will set out the circumstances under which a Tenant is liable for a default fee, examples of which would be late rent payment which will incur interest in line with the Bank of England’s base rate, or lost keys requiring replacement.

EARLY TERMINATION – Should a Tenant need to surrender the tenancy early and the Landlord agrees to re-let the property, the liability for payment of rent will end once a new Tenant is secured. The Tenant will need to cover the Landlords costs in surrendering the tenancy and re-letting the property.

DAMAGES PAYMENTS – The Tenancy Agreement will set out the circumstances under which a Tenant is liable for damages payments having been in breach of contract, for example returning the property in the same condition as which it was found excepting fair wear and tear, or repairs to fittings or furnishings where the Tenant is responsible for the damage having occurred. These costs are usually deducted from the Tenancy Deposit at the end of the tenancy, unless the work cannot reasonably wait until the end of the Tenancy.

   

 

OUR CHARGES and FEES for RESIDENTIAL LETTINGS to the TENANT

renting a home under the name of a Business or Company

 

RESERVATION FEE - One weeks rent to be paid as a good faith reservation fee which will be offset against the first month’s rent.

ADMINISTRATION FEE - £180.00 (including VAT).

RENT – The agreed amount of rent to be paid at regular, specified intervals in equal amounts. The amount payable may change under a ‘rent review’ clause that enables both rent increases and decreases if included in the Tenancy Agreement.

TENANCY DEPOSIT - Six weeks rent to be paid as tenancy deposit.

UTILITIES – Utility bills as set out in the Tenancy Agreement.

CHANGE OF TENANCY FEE - For preparation of any paperwork or new tenancy agreement associated with any change to the tenancy, at Tenant request - £120.00 including VAT

DEFAULT FEES – The Tenancy Agreement will set out the circumstances under which a Tenant is liable for a default fee, examples of which would be late rent payment which will incur interest in line with the Bank of England’s base rate, or lost keys requiring replacement.

EARLY TERMINATION – Should a Tenant need to surrender the tenancy early and the Landlord agrees to re-let the property, the liability for payment of rent will end once a new Tenant is secured. The Tenant will need to cover the Landlords costs in surrendering the tenancy and re-letting the property.

DAMAGES PAYMENTS – The Tenancy Agreement will set out the circumstances under which a Tenant is liable for damages payments having been in breach of contract, for example returning the property in the same condition as which it was found excepting fair wear and tear, or repairs to fittings or furnishings where the Tenant is responsible for the damage having occurred. These costs are usually deducted from the Tenancy Deposit at the end of the tenancy, unless the work cannot reasonably wait until the end of the Tenancy.

  

INDEPENDENT REDRESS - We are a member of Property Redress Scheme (www.theprs.co.uk)
View Our CMP Certificate

CLIENT MONEY PROTECTION - We are a member of Client Money Protect
View Our PRS Certificate