Fees To Landlords
- The Agent will arrange to provide a guide on the rental price of the Property, usually by visiting.
- The Agent will promote the Property in appropriate ways to find a suitable tenant for the Property.
- For Introduction Only Service landlords, once contact is made by a prospective tenant, the Agent will put the prospective tenant in contact with the Landlord who will then arrange all viewings and tenancy paperwork. The landlord will need to comply with the deposit legislation and the Immigration Act 2014 requirement as appropriate. This element does not apply to the following levels of service.
- Additional services are available for a fee.
1.2 LET ONLY SERVICE
In addition to the Introduction Only Service items
- The Agent will arrange for the legally required checking and paperwork for the Property. This may include a gas safety record, an energy performance certificate, mains electrical testing, portable appliance testing and a legionella risk assessment. All costs will be borne by the Landlord, even if the Property is not actually let through the Agent.
- The Agent will arrange viewings with prospective tenants either using the keys supplied by the Landlord or in co-ordination with the current occupier. All viewings will be accompanied by the Agent unless agreed otherwise.
- Once a prospective tenant is found who is interested in the Property, they will be asked to complete an application form giving information about themselves.
- The Agent will then take references appropriate to the circumstances of the prospective tenant. This will be outsourced to a referencing company used by the Agent.
- The Agent agrees under Part 3 Chapter 1 of the Immigration Act 2014 to be the person responsible for checking the immigration status of all applicants, as appropriate, before the initial move in. For Let Only landlords the Landlord will be responsible for any further work needed under the Immigration Act.
- On receipt of references the Agent will set up the necessary paperwork to let the property on an appropriate tenancy or licence.
- The Agent will, if appropriate, arrange for the initial production and subsequent agreement of an inventory and schedule of condition of the property at the move in.
- The Agent will sign up the Tenant and collect any money due, giving the Tenant copies of appropriate paperwork.
- If a deposit has been collected and requires protecting under the Housing Act 2004 rules then you will either need to have a custodial scheme account of your own for us to transfer the deposit money into or you will have to purchase protection with an insured scheme and we will only send you the deposit once you have sent evidence of that protection. If we do not get evidence with 10 days, we will protect the deposit in the custodial scheme to protect you. We will not, however, have any involvement in the agreement about the refund of the deposit or any disputes at the end of the tenancy.
- For Let Only Service landlords, the Agent will then send the Landlord the funds, less expenses, and the paperwork. This element does not apply to the following levels of service.
1.3 LETTING AND RENT COLLECTION SERVICE
In addition to the Let Only Service items:
- The Agent will use its best endeavours at all times to collect rents or others charges due from the Tenant and provide monthly accounts to the Landlord. However, the Agent will not be liable for the amount of any arrears nor for any legal or other costs incurred by the Agent or the Landlord or any other party in respect of the recovery of such arrears.
- The Agent agrees that for the Letting and Rent Collection Service the Agent will accept responsibility for the ongoing Immigration Act checks that may be needed during the Term of the tenancy.
- If the Landlord lives overseas, the Agent must account to HM Revenue and Customs for the rental received and this can include deducting basic rate income tax. To avoid this, the Landlord must apply to HM Revenue and Customs for approval for gross rents to be paid. If such approval is not obtained, an extra 1% will be charged on the normal commission to cover the cost of the extra work involved.
1.4 FULL MANAGEMENT SERVICE
In addition to the Letting and Rent Collection Service items:
- The Agent will use its best endeavours to arrange minor repairs, general maintenance and replacements to the property without necessarily consulting the Landlord ie in the case of an emergency where we are unable to make contact beforehand, up to the limit agreed in writing upon giving instruction, (or up to the value of one month’s rent where no figure has been specifically agreed). The Agent will not be responsible for damage or loss incurred to the Property or the Landlord in the event of repairs, general maintenance or replacements not being carried out.
- The Agent will make periodic visits to the property and send a report to the Landlord but such visits and reports can only be regarded as general oversight of the Property and its care by the Tenant. The Agent does not accept responsibility for actual variance between the report and the items reported upon. The Agent will liaise with the Tenant on all day to day matters arising.
- The Agent will use its best endeavours to recover possession of the Property in accordance with instructions received but cannot be liable for any delays, damages or costs incurred because such vacant possession is not achieved within the time scale requested. It will be the responsibility of the Landlord to instruct solicitors with whom the Agent will liaise. The Agent will not be liable for any legal or other costs incurred in any action against current or previous tenants undertaken on the Landlord’s instructions.
1.5 ALL LEVELS OF SERVICE
- The Landlord will be responsible for the arrangement and valid continuance of adequate buildings and contents insurance on the Property unless specifically agreed otherwise in writing with the Agent. Furthermore, the Landlord will particularly inform the Agent in writing of any action that needs to be taken to ensure continuance of insurance either for renewal or because the Property is vacant.
- The Agent should be informed immediately of any substantial change affecting the Property and/or the Agent’s management of it. The Landlord accepts that the Agent can best carry out their management function if they are aware of possible problems arising.
- The Landlord agrees to indemnify the Agent for (refund to the Agent) all reasonable costs incurred in connection with the management of the Property including the cost of complying with any existing or future legislation affecting the letting of the Property and the cost of repairing and removing and replacing any dangerous and/or defective equipment and/or furnishings with safe and compliant equipment and/or furnishings.
- If the Agent feels it will provide better service the Agent can arrange to instruct other agents to assist in the marketing of the Property. This will be at no additional cost to the Landlord unless specifically agreed and confirmed in writing.
SCALE OF FEES & CHARGES TO LANDLORDS
- Introduction Only Service £600.00 (inc VAT) payable for each letting where the tenant is introduced through the Agent
- Let Only Service 9% (10.8% inc VAT) for the first year of the tenancy, payable for each letting where the tenant is introduced through the Agent. (e.g. if the rent is £1,000pcm the fee will be £108pcm x 12 months = £1296 inc vat). 4.5% (5.4% inc vat) for subsequent annual tenancy renewals.
- Letting and Rent Collection Service 11% (13.2% inc VAT) of the rent received, deducted by the Agent per month. (e.g. if the rent is £1,000pcm the fee will be £132pcm inc vat).
- Full Management Service 14% (16.8% inc VAT) of the rent received, deducted by the Agent (e.g. if the rent is £1,000pcm the fee will be £168pcm inc vat).
The fees under the above service are payable when any individual or organisation enters into an agreement to rent the Property as a result of our promotion, introduction, or viewing by the Agent.
- Tenancy Agreement “The Contract” Deposit Protection Included £240.00 (inc VAT)
- Inventory Service – Dependent on property size, furnished or unfurnished.
- Duplicate Statements Emailed Or Posted £12.00 (inc VAT)
- Professional Hourly Rate £60.00 (inc VAT) Charged by the Agent when required to carry out any additional services
- Inventory Check Out Dependent on property size, furnished or unfurnished (Tenant pays for the Check In)
- Void Property Inspections £25.00 (inc VAT) (per visit)
- Tenancy Renewal Fee £90.00 (inc VAT)
- Major Works Fee £60.00 (inc VAT) per hour.
- Landlord Rent Guarantee Insurance £225.00 (inc of insurance premium tax IPT)
- Fees Added to Contractor Invoices NIL
- Landlord’s Annual Gas Safety Certificate £90.00 (inc VAT)
- Legionella Risk Assessment £90.00 (inc VAT)
- Energy Performance Certificate £90.00 (inc VAT)
- Electrical / Portable Appliance Test £90.00 (inc VAT)
- Preparation & Issue of Housing Act / Statutory Notices £60.00 (inc VAT) per Notice
- Dealing with Overseas Landlords Tax Matters – Reporting to HMRC £48.00 per annum (inc VAT)
- Key Cutting At cost plus £12.00 (inc VAT)
Where the Landlord cancels the Agent’s instruction to provide a management service the Agent will charge and the Landlord will pay a fee based upon 4.8% (inc VAT) of the agreed rent for the period not exceeding six months from the commencement date of the tenancy.
VAT is payable at the prevailing rate on all our fees. In accordance with consumer legislation it is quoted as included in the prices stated above.