Landlord & Tenant Fees
Our charges to Landlords are as follows
LETTING FEE: One month’s rent plus VAT (min. £600) if let-only is required. Reduced to ¾ of a month’s rent plus VAT (min. £480) if management service is taken up, payable every time the property comes vacant. The letting fee covers all the work carried out in marketing the property, obtaining an EPC, carrying out accompanied viewings, checking ID and immigration status/right to reside etc, taking up references, (previous landlord, employer and credit reference - to assess tenants’ financial position) preparation of fully detailed inventory with copious photographs, preparation and signing of lease, taking meter readings etc and all work required to secure the letting of the property, including registration of Tenancy Deposit.
MANAGEMENT COMMISSION: Generally based on 12.5% of the actual rent collected for full management service. (Equates to 15% inc VAT) Details of services on request. We can consider a lower letting fee for high-rent homes, or for multiple property landlords or where a reduced management service is requested - subject to discussion and agreement as to number and type of properties, and the level of service required.
Our charges to Tenants are as follows:
Almost without exception our properties are let upon the Assured Shorthold Tenancy basis requiring an Agreement to be signed which will be for the very minimum of six months. You must be aware that, by signing such a tenancy agreement you have accepted the liability of paying the rent and other outgoings for that property for the entire length of the term, and very rarely do landlords allow any variation from this aspect of the arrangement. Should you wish to terminate the lease before the end of the initial lease period and the landlord agrees to an early termination, you will be expected to pay the letting fees of £480.00 including VAT in addition to all rent due up to the start of the new replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Upon the signing of the Assured Shorthold Tenancy Agreement you will be expected to pay in advance one month's rental plus a Security Bond equal to one months’ rent. This Security Bond will be registered with the Tenancy Deposit Scheme and will be repaid to you upon the eventual termination of the lease so long as all rental payments have been made and the property and its contents are handed back in a reasonable condition, normal wear and tear being allowed for. If there is a rent shortfall, or any damage has been caused to the property or its contents, or the property is not clean, or the garden has been neglected, then the cost of putting it right will be deducted from the Security Bond as per the invoiced amount and the net amount returned to you.