What Landlord fees do you need to pay?

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Level of service offered:

bullet-point Tenant find: 50% of the initial month’s rent (Inc VAT)

INCLUDES:
• Collect and remit initial months’ rent received
• Agree collection of any shortfall and payment method
• Provide tenant with method of payment
• Deduct any pre-tenancy invoices
• Make any HMRC deduction and provide tenant with the NRL8 (if relevant)

bullet-point Rent collection: 7.2% of rent (Inc VAT)

INCLUDES:
• Collect and remit the monthly rent received
• Deduct commission and other works
• Pursue non-payment of rent and provide advice on rent arrears actions

bullet-point Fully managed: 9.6% of rent (Inc VAT)

INCLUDES:
• Collect and remit the monthly rent received
• Pursue non-payment of rent and provide advice on rent arrears actions
• Deduct commission and other works
• Advise all relevant utility providers of changes
• Undertake at least two inspection visits per annum and notify landlord of the outcome
• Arrange routine repairs and instruct approved contractors (providing minimum of two quotes)
• Hold keys throughout the tenancy term

ALL LEVELS OF SERVICE INCLUDE THE FOLLOWING:

Setup Fee (Landlords Share): 
• Agree the market rent and find a tenant in accordance with the landlord guidelines;
• Advise on refurbishment
• Provide guidance on compliance with statutory provisions and letting consents
• Carry out accompanied viewings (as appropriate)
• Market the property and advertise on relevant portals
• Erect board outside property in accordance with Town and Country Planning Act 1990
• Advise on non-resident tax status and HMRC (if relevant)

Inventory Fee (landlords share):
Dependent on the number of bedrooms and/or size of the property and outbuildings

Deposit Registration Fee:
• 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 start of tenancy

Additional property visits:
• To attend for specific requests such as neighbour disputes; more visits are required to monitor the tenancy; or any maintenance-linked visit

Rent Review Fee:
• Review rent in accordance with current prevailing market condition and advise the landlord
• Negotiate with tenant
• Direct tenant to make payment change as appropriate
• Update the tenancy agreement
• Serve Section 13 Notice if tenancy is on a rolling monthly basis

Renewal Fee (landlords share):
• Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

Checkout Fee (landlords share):
Agree with tenant check out date and time appointment
• Instruct inventory provider to attend
• Negotiate with landlord and tenant any disbursement of the security deposit
• Return deposit as agreed with landlord and tenant to relevant parties
• Remit any disputed amount to Scheme for final adjudication
• Unprotect security deposit
• Instruct contractors; obtain quotes; organise repairs /replacement/cost of any broken or missing items

ADDITIONAL NON-OPTIONAL FEES AND CHARGES:

Court Attendance £48 (inc VAT) per hour

Submission of non-resident landlords receipts to HMRC (If you live abroad for six months or more per year): £60 (inc VAT) quarterly
• To remit and balance the financial return to HMRC quarterly – and respond to any specific query relating to the return from the landlord or HMRC

IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE CALL GERARD ON 0115 838 2543