What Landlord fees do you need to pay?

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Landlord Fees and Services offered:

First of all, at HomeXperts Purbeck and Poole, Iain and Sharon want to be as transparent as possible when it comes to fees.  Also, since they appreciate how complicated it can be to decide what you actually need from a letting service, they wanted to try and simplify things for all.

As a result, they offer 3 services that are all inclusive*. Because of how they structure their fees, as a landlord, you know what you are getting for the service you choose, no hidden extras.

 

Let Only Fees Initially they offer the Let Only Service:

This service includes the following:

  • Advise on refurbishments
  • Provide guidance on compliance with statutory provisions and letting consents
  • Advise on non-resident tax status and HMRC (if relevant)
  • Agree the market rent while also finding a tenant in accordance with the landlord’s guidelines;
  • Market the property and advertise on relevant portals
  • Market the property in various other avenues in addition to the portals
  • Erect board outside property in accordance with Town and Country Planning Act 1990
  • Carry out accompanied viewings
  • Tenant reference checking results
  • Full Inventory
  • Accompanied Check in
  • 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)

Fees for the Let Only Service is the initial 100% of 1st month’s rent (Inc VAT)

 

Let Plus Fees Furthermore, you can choose the Let Plus Service:

This is the same as per the Let Only service along with the following:

  • Deposit Registration (if required):
    • 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
  • Collect and remit the monthly rent received
  • Deduct commission and other works
  • Pursue non-payment of rent and provide advice on rent arrears actions
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
  • Issuing a legal ‘Notice to quit’ form for repossession of the property at the end of a term where necessary
  • Checkout:
    • 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 amount to Scheme for final adjudication due to any disputes
    • Instruct contractors; obtain quotes; organise repairs /replacement/cost of any broken or missing items

Fees for the Let Plus Service is the initial 100% of 1st month’s rent (Inc VAT) followed by £60 per month (Inc VAT) (£50 plus VAT)

 

Full Management Fees Finally, you could decide on the Full Management Service:

This is the same as per the Let Only AND the Let Plus Service combined with the following:

  • Advise all relevant utility providers of changes as a result of a new tenant
  • Undertake two inspection visits per year and notify landlord of the outcome
  • Arrange routine repairs and instruct approved contractors (providing three quotes)
  • Hold keys throughout the tenancy term
  • Additional property visits – due to any maintenance-linked visit, to attend for specific requests such as neighbour disputes; more visits are required to monitor the tenancy because of other notified reasons
  • Submission of non-resident landlord’s receipts to HMRC – 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
  • Arrangement for works or refurbishments – Arranging access, also assessing costs with contractor; ensuring work has been carried out in accordance with the specification of works; retaining any warranty or guarantee as a result of any works
  • Rent Review – in accordance with current prevailing market conditions 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 (continuing tenant) – contract negotiation, amending and updating terms and arranging a further tenancy and agreement

Fees for the Full Management Service is the initial 100% of 1st month’s rent (Inc VAT) followed by £120 per month (Inc VAT) (£100 plus VAT)

 

*The only addition to their fees is for Court Attendance, which is £120 (Inc VAT) (£100 plus VAT) per hour on all service level agreements.

In conclusion

So, why not give HomeXperts a try for their transparent fees? Consequently you will stay with them for the service that they will provide.