What Landlord fees do you need pay?

Level of service offered:

bullet-point Tenant find: One month’s rent plus VAT (120% of one month’s rent)

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
• Make any HMRC deduction and provide tenant with the NRL8 (if relevant)

bullet-point Fully managed: 12% 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 two inspection visits per annum and notify landlord of the outcome
• Arrange routine repairs and instruct approved contractors (providing three quotes)
• Hold keys throughout the tenancy term
• Make any HMRC deduction and provide tenant with the NRL8 (if relevant)

ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE):

Setup Fee (Landlords Share): Free (Included with all of the above services)
• 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): £90 (Inc VAT)
Dependent on the number of bedrooms and/or size of the property and outbuildings …(continued)

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

Submission of non-resident landlords receipts to HMRC: Included
• 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 Fee for Works: Included
• Arranging access and 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

Arrangement Fee for refurbishments: Included
• Arranging access and 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

Obtaining more than two contractors quotes: No

Rent Review Fee: Included
• 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): Included
• Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

Checkout Fee (landlords share): £60 (Inc VAT)
• 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

Court Attendance £90 (Inc VAT) per hour

IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF