Lettings Fees Explained for Landlords
All Fees Inclusive of VAT (20%)
Tenant Find—9.6% Value property and provide market advice, prepare property details, fully market property, accompanied viewings, advice on issues of compliance, collect agreed security deposit, collect and remit initial months’ rent received, provide tenant with method of payment, deduct any pre-tenancy invoices, make any HMRC deduction and provide tenant with the NRL8 if relevant.
Rent Collection—12% Additionally includes: Collect and remit the monthly rent received, deduct commission monthly, pursue non-payment of rent and provide advice on rent arrears actions, make any HMRC deduction and provide tenant with the NRL8 (if relevant), Provide detailed HMRC compliant monthly statement, arrangement of annual gas safety certificate if applicable.
Fully Managed—15% Additionally includes: Arrange routine repairs, instruct, and contractors, regular property inspections, deduct cost of works from monthly rental income, hold keys throughout the tenancy term, negotiate return of deposit and any deductions required.
Additional non-optional fees & charges irrespective of level of service:
New Tenancy - £180
Fees for preparing any new tenancy including full tenant referencing, credit check, employment and previous landlord references. Amendments/additions after paperwork has been raised are charged at £30 per item.
Inventory - £95 - £240
Fee dependent upon the number of bedrooms and/or size of property and outbuildings.
Check-In/Check-Out - £75 - £145
Coordinate with tenant and inventory provider check-in/check-out date and time. Return deposit as agreed with landlord.
Key Cut- £36 Plus Cost of Key
Tenancy Renewal - £120
Fees for preparing and negotiating renewal at the end of any fixed term of tenancy.
Inventory Update - £75 - £145
Update of an inventory between tenancies.
EPC Report - £96
Gas Report - £96
Fire/Smoke Alarm Report - £30
CO2 Report - £30
Fees may be reduced if multiple reports completed at one time.
Property Visits Not Related to Viewings and/or accompanying Contactor Visits - £60
Duplicate Statements of Account - £12 Singular £42 Multiple
Section 21 Notice - £60
Court Attendance or Court Document Preparation - £80 Per Hour/One Hour Minimum
Arrangement For Major New Capital Expenditures– 10% of Net Cost
Arranging access and assessing cost with contractor for major works such as new bathroom, kitchen or conservatories. Ensuring work has been carried out in accordance with specification of works. Retaining any warranty or guarantee as a result of any works.
ADDITIONAL FEES & CHARGES – TENANT FIND:
Deposit Registration - £42
Arrangement For Contractor/Maintenance – 10% of Net Cost Paid in Advance Based on Quote