| Fee/Charge Description | Details |
|---|---|
| Let Only Letting Fee |
75% of the month’s rent plus VAT. The let only letting fee includes carrying out accompanied viewings, securing a tenant(s), checking ID and immigration status/right to reside, taking up references, (previous landlord, employer and credit reference - to assess tenants’ financial position), preparation of a fully detailed inventory with copious photographs, preparation and signing of tenancy agreement, taking meter readings, registering the deposit with an approved scheme, namely Mt Deposits and all the work required to finalise the letting of the property. Once the tenant has moved in, there will be no further management, all completed documentation will be handed over to the landlord. The tenant(s) will then deal with and pay the landlord directly. |
| Fully Managed Monthly Letting Fee Minimum 12 months |
The fully managed fee is 10% of a month’s rent plus VAT. The letting fee covers all the work carried out in marketing the property, obtaining an EPC, GSC, EICR, carrying out accompanied viewings, checking ID and immigration status/right to reside, taking up references, (previous landlord, employer and credit reference - to assess tenants’ financial position), preparation of a fully detailed inventory with copious photographs, preparation and signing of the. tenancy agreement, taking meter readings and all the work required to finalise the letting of the property. It also includes 3 or 6 monthly inspections. In addition, at the start of each tenancy there is a £250 plus VAT set up fee to cover the costs of the independent Inventory Clerk carrying out the detailed inventory, referencing of tenant(s), preparing of tenancy agreement and registering the deposit with an approved scheme, namely My Deposits. |
| Gas Safety Certificate Fee (Yearly) |
As your agent we will arrange a yearly GSC for the property at a chargeable amount of £90. |
| Electrical Installation Condition Report Fee (5 Yearly) |
As your agent we will arrange a 5 yearly EICR for the property at a chargeable amount. This is usually between £200 - £350. |
| Energy Performance Certificate Fee (10 Yearly) |
As your agent we will arrange a 10 yearly EPC for the property at a chargeable amount of £125.00. |
| Late payment Fees | Any outstanding balances or payments not received from the Landlord within 30 days of our invoice, will be subject to interest and will incur daily interest charges at the rate of 4% above the base rate set by a clearing bank. |
| Legal Protection / Legal & Rent Protection |
The Renters' Rights Bill is expected to come into effect in the summer of 2025. Legal Protection can be provided for your property at a chargeable amount of £120 per annum / Legal and Rent Protection can be provided for your property at a chargeable amount of £350 per annum. Please see attached documentation for both options. |
| Maintenance Fees | By signing and returning our terms of business for our fully managed service, the Landlord gives the Agent the authority to instruct contractors to carry out minor repairs/routine works up to a value of £300+VAT without the Landlord prior consent. The Agent will carry out such works in a timely manner and act to protect the Landlord interests by attempting to obtain prior approval from the Landlord. If repairs or routine works are likely to exceed £300 +VAT the Agent will, except in situations that the Agent view as an emergency, endeavour to contact the Landlord to obtain the Landlord authorization to incur that expense. In the event that the Agent does not receive contrary instructions from the Landlord in writing within 7 days, the Agent will proceed with the Landlord authority to act as the Agent deems appropriate. The Agent will also request payment in advance where works exceed the value of rent less charges as the Agent is unable to be overdrawn against the Landlord account. |
| Termination of Management |
After the 12 month term, either party has the right to terminate this agreement in writing upon the tenant’s vacation or if either party breaks any terms or condition of this agreement during a tenancy where the breach is not remedied within 30 days of written notice. The Landlord may withdraw instructions from the Agent to manage the property with 3 months written notice. In the event that the tenant remains in possession of the property, charges will be payable as if the Agent were instructed on a Let Only basis where a fee of 75% of one month’s rent +VAT is payable. |
| Rent Arrears and Legal Costs |
Any delays of payment or other defaults will be acted on by the Agent in the first instance. Where the Agent has been unsuccessful in these initial actions, or there are significant rent arrears or breaches of the tenancy agreement, the Landlord will be advised accordingly. A solicitor may then be appointed and instructed by the Landlord or the Agent (except where the Agent is unable, after taking reasonable efforts, to contact the Landlord). In such event the Agent is authorized to instruct a solicitor on the Landlord’s behalf). The Landlord is responsible for payment of all legal & administration fees and any related costs. In the event of legal proceedings, an ‘hourly rate’ will be charged to the Landlord, capped at a maximum of £150 per court case that the Agent attends. |