Fees payable by Landlords and Tenants
Our charges to Landlords are as follows:
LETTING FEE: VAT included this is the equivalent of 1.2 month’s rent (min. £600) if let-only is required. Reduces to 0.9% of a month’s rent (min. £480) if management service is taken up, payable every time the property comes vacant, All figures quoted above are inclusive of VAT. 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.
Newspaper Adverts are charged at £42 incl. VAT per insertion in local paper
No charge for internet marketing.
MANAGEMENT COMMISSION: Generally based on 12.5% of the actual rent collected for full management service. (Equates to 15% incl 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:
ADMIN FEE: payable up-front - £200 (Including VAT) for up to two joint tenants. An additional £50 (incl VAT) will be charged for any additional joint tenants or a guarantor.
The Admin Fee is our charge for progressing the application for the tenancy of a property from the taking up of references, ID and immigration checks, preparation and copies of Assured Short hold Tenancy documentation, inventory and disc with photo’s, registration of the Tenancy Deposit and provision of Certificate, and all attendant tasks required to complete the tenancy.
Consideration will be given to refunding HALF of the Admin Fee in the event of our rejecting the application, for instance due to adverse references, or provision by the tenant of untrue information. No refund is available if the tenancy is not completed because of a change of mind by the tenant after the preparatory works have been commenced. Other Charges may apply. e.g. £120 for mid-term tenancy amendments or removal/addition of tenant etc., including VAT If cleaning or gardening at end of tenancy is deemed to be required - £20 per hour including VAT will be charged and deducted from Tenancy Deposit.
The Tenancy Deposit and Rent – these are not the agents’ charges, as they form part of the Tenancy Agreement. The Deposit is the equivalent of a month’s rent plus £100.
Please note VAT does not apply to Rent or Tenancy Deposit.