Fees
New Tenancies as of 01st June 2019 Fees
Holding fee - One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Deposit - Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Variation of contract - £50 (incl VAT) per agreed variation.
Change of sharer - £50 (incl VAT) per replacement tenant.
Lost key(s) or security device(s) - Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If the agency is called out during office hours there will be a charge of £15 per hour (incl VAT) for their time.
Early Termination - equivalent to one month's rent per tenancy plus all rent due under the tenancy until the start date of the replacement tenancy.
Unpaid rent - Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. This will not be levied until the rent is more than 14 days in arrears.
Existing tenancies fees
Additional Tenant Referencing Fees - £50 (incl VAT) per tenant. As Set-up Fees above for additional tenants.
Guarantor Fees - £300 (incl VAT) per guarantor. Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
Permitted Occupier Fees - £50 (inc. VAT) per permitted occupier. Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
Renewal Fees (Tenant’s Share) - £72 (incl VAT) per tenancy.
Variation of Contract Fees - £50 (incl VAT) per request.
Change of Sharer Fee - £50 (incl VAT) per replacement tenant. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination - equivalent to one month's rent per tenancy plus all rent due under the tenancy until the start date of the replacement tenancy.
Future Landlord Reference Fee - £50 (incl VAT) per request. Collating information and preparing a reference for a future landlord or letting agent.
Lost Key(s) or other Security Device(s) - £ cost of replacement(s) plus agency fee of £15 per hour (incl VAT) during office hours where actions of the tenant results in the agent (or nominated contractor) attending the property, their time to remedy the situation is charged.
Rent Arrears / Returned Payments - £36 (incl VAT) per letter, telephone call or email requesting payment plus interest at 3% above Bank of England Base Rate from Due Date until paid on any outstanding sums in order to cover the agent’s costs associated with chasing unpaid rent.
Duplicate Document(s) - £72 (incl VAT) per document. To cover the agent’s costs associated with providing additional copies of any paperwork (tenancy agreement, Inventory etc) when requested by a tenant.
Landlord fees & charges
Let only - 7.8% (incl VAT)
Rent collection – 9.6% (incl VAT)
Fully managed 12% (incl VAT)
If you would like to discuss these with us please don’t hesitate to call, email or pop in.
Arranging and facilitating statutory compliance (this is in addition to the costs of the item itself) if not provided on instruction or undertaken by the landlord:
Energy Performance Certificate (EPC) - £36 (incl VAT) per tenancy
Gas Safety Certificate - £36 (incl VAT) per tenancy
Installing Smoke alarms and Carbon Monoxide - £36 (incl VAT) per tenancy
Testing Smoke alarms and Carbon Monoxide detectors on the first day of the tenancy - £36 (incl VAT) per tenancy
Set-up Fees - £275 (incl VAT) per tenancy. Referencing for up to two tenants (ID checks, Right-to-Rent check, 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 signing of the tenancy agreement.
Additional Tenant Referencing Fees - £150 (incl VAT) per tenant. As Set-up Fees above for additional tenants.
Guarantor Fees - £300 (incl VAT) per guarantor. Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
Permitted Occupier Fees - £84 (incl VAT) per permitted occupier. Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
Deposit Registration Fees (where collected) - £50 (incl VAT) per tenancy annually. 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 the tenancy start date.
Inventory Fees - Dependant on the number of bedrooms and/or size of the property and any outbuildings, please ask a member of our team.
Accompanied Check-in Fees - £84 (incl VAT) per tenancy. Attending the property to welcome the tenant(s), confirm the Inventory and Schedule of Condition, explain the operation of appliances, highlight the location of utility meters, stop-cocks etc. and test that all smoke alarms and carbon monoxide detectors are present and in working order. This is subject to an approved Inventory as above.
Landlord Withdrawal Fees (before move-in) - £350 (incl VAT) per tenancy. To cover the costs associated with the marketing, advertising and tenancy set-up should the landlord withdraw from the tenancy before it has started.
Additional Property Visits - £36 (incl VAT) per visit. Should the landlord request property visits in addition to those within their existing Terms of Business, this covers the costs of attending the property.
Rent Review Fees - £36 (incl VAT) per tenancy. Review rent in accordance with current prevailing market conditions and advise the landlord, negotiate with the tenant(s), direct tenant(s) to make payment change as appropriate, update the tenancy agreement and serve a Section 13 Notice if the tenancy is on a periodic basis.
Renewal Fees - £120 (incl VAT) per tenancy. Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
Right-to-Rent Follow-Up Check - £50 (incl VAT) per check. Undertaking a repeat check in person on a time-limited visa in accordance with the Immigration Acts 2014 and 2016. Notifying the Home Office should an illegal overstayer be identified. This does not apply to a Tenant-Find service.
Arrangement Fees - for works over £300 will incur a charge of 10% of net cost. Arranging access and assessing the costs with any contractors, ensuring work has been carried out in accordance with the Specification of Works and retaining any resulting warranty or guarantee. Fully Managed service only.
Check-out Fees - £108 (incl VAT) per tenancy. Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
Tenancy Dispute Fee - £120 (incl VAT) per tenancy. The costs associated with the preparation of all evidence and submitting the case to the tenancy deposit scheme as well as dealing with all correspondence relating to the dispute. This only applies where the agent has protected the deposit.
Fees for the service of Legal Notices (Section 8 or Section 21) - £50 (incl VAT) per Notice.
Court Attendance Fees - £50 (incl VAT) per hour.
Interest on Unpaid Commission - 3% above the Bank of England Base Rate from Due Date until paid.
Contractor Commission - 10% of contractors invoice (incl VAT). To cover the costs associated with arranging and facilitating the visit of a vetted professional tradesperson.
Submission of Non-Resident Landlords receipts to HMRC - £72 (incl VAT) quarterly. To remit and balance the financial Return to HMRC on both a quarterly and annual basis.
Additional HMRC Reporting Fees - £72 (incl VAT) per request. Responding to any specific queries relating to either the quarterly or annual Return from either the landlord or HMRC.
Fees for providing an Annual Income and Expenditure Schedule - £108 (incl VAT) annually.
Same-Day Payment Fees - £25 (incl VAT) per payment. Should the landlord request a payment faster than the agreed timescales within their existing Terms of Business, this covers the costs of providing a same-day payment service.
Obtaining more than three contractor quotes - £84 (incl VAT) per quote. Fully Managed service only.
Vacant Property Management Fees - £50 (incl VAT) per visit. To cover the costs associated with visiting the property to undertake visuals checks on the inside and outside at a frequency mutually agreed with the landlord.
Management Take-over Fees - £275 (incl VAT) per tenancy. To cover the costs associated with taking over the management of an ongoing tenancy, ensuring all statutory compliance has been undertaken, confirming everything under “Set-up Fees” above, receiving and protecting the security deposit and providing all necessary legal documentation to the tenant.
Deposit Transfer Fees - £50 (incl VAT) per deposit. Should the landlord request any changes to a protected deposit during a tenancy, this covers the costs associated with legal compliance for said request.