Client Money Protection (CMP) provided by RICS

Download RICS Client Money Protection Rules

Independent Redress provided by The Property Ombudsman

Holding Deposit

(per tenancy)

One week’s rent

This is to reserve the property. Please Note: This will be withheld if any relevant person (including and guarantor (s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, fail to provide required information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security Deposit

(per tenancy. Rent under £50,000 per year)

Five week’s rent

This covers damages or defaults on the part of the tenant during the tenancy.

Security Deposit

(per tenancy. Rent over £50,000 per year)

 Six week’s rent

This covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent

Interest at 3% above the Bank of England Base Rate from the Rent Due Date until paid. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s)

Tenants are liable for the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual cost of the locksmith, new lock and replacement keys for the tenant, landlord and any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security devices(s).

Variation of Contract

(Tenant’s request)

£50 (inc. VAT) per agreed variation

To cover the cost associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Changes of Sharer

(Tenant’s request)

£50 (inc. VAT) per replacement tenant

To cover the costs associated with taking landlord’s instruction, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Early Termination of Tenancy

(Tenant’s Request)

£360 (inc. VAT) plus rent due under the tenancy agreement

Should the tenant wish to leave their contract early, they shall be liable for the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

Please ask a member of staff if you have any questions about our fees

Download New Assured Shorthold Tenancies (ASTS) Fees

LEVEL OF SERVICE OFFERED:

Let Only:

Set up fee

£475 inc. VAT

Fully Managed:

Set up fee

£300 inc. VAT

Plus monthly commission of 12% inc. VAT

Rental Appraisal and agreement of asking rent

✔

✔

Provide guidance on compliance with statutory provisions and letting consents

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Advise on refurbishment requirements

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Erect ‘To Let’ board in accordance with Town and Country Planning Act 1990 (where applicable)

✔

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Market the property and advertise on property portals

✔

✔

Carry out accompanied viewings (as appropriate)

✔

✔

Complete tenancy agreement

✔

✔

Prepare Inventory and Schedule of Condition and undertake Check-in inspection

✔

✔

Collect and remit initial months rent

✔

✔

Provide tenants with method of payment

✔

✔

Deduct any pre-tenancy invoices

✔

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Register deposit with deposit protection scheme

✔

✔

Advise all relevant utility providers of commencement of tenancy and meter readings

✔

✔

Register deposit with deposit protection scheme

✔

Prepare Inventory and Schedule of Condition and undertake Check-in inspection

✔

Collect and remit monthly rent

✔

Pursue non-payment of rent and provide advice on rent arrears actions

✔

Undertake two periodic inspections per tenancy term and provide inspection report to landlord

✔

Arrange routine repairs and instruct approved contractors

✔

Rent reviews and tenancy renewals to existing tenants

✔

Issuing of notices to determine the tenancy (Section 8 and/or 21)

✔

Undertake end of tenancy Check-out inspection

✔

Security deposit dilapidation negotiations

✔

Preparation and submission of evidence to support deposit disputes

✔

ADDITIONAL PRE TENANCY FEES

(Let only and Fully Managed services)

For arranging and facilitating statutory compliance, if not provided upon inspection or undertaken by the landlord

Referencing of prospective tenants

£40.00 inc. VAT per applicant

Energy Performance Certificate (EPC)

£90.00 inc. VAT

Gas Safety Certificate

£90.00 inc. VAT

Electrical Installation Condition Report

£200.00 inc. VAT

Portable Appliance Testing

£20.00 inc. VAT per appliance

Legionella Risk Assessment

£80.00 inc. VAT

Provision and Installation of Carbon Monoxide Alarm

£60.00 inc. VAT per alarm

Guarantor Fee: Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement)

£40.00 inc. VAT per guarantor

Landlord Withdrawal Fees (before move-in). To cover the costs associated with the marketing, advertising and tenancy set-up, should the landlord withdraw from the market before it has started

£475.00 inc. VAT

12 Months Rent Guarantee Insurance (subject to satisfactory applicants)

Quoted for on an individual basis. Insurance policy taken as a percentage of the passing rent plus administration fee, Insurance Premium Tax and VAT at the prevailing rate at the time the policy is issued. For example a current policy on a rent of £450 pcm would amount to £156.96 and subject to agents £50.00 inc. VAT administration fee

£ Variable*

Provision of Additional keys

£30.00 Inc. VAT (for one additional copy of up to 2 standard key (Yale or Mortice)30.00 inc. VAT (for one additional copy of up to 2 standard key (Yale or Mortice)

OTHER FEES AND CHARGES
(Fully Managed Services Only)

Management Take-over Fees:

To cover the costs associated with taking over the management of an ongoing tenancy, ensuring all statutory compliance has been undertaken, undertaking inspection of property, receiving and protection of the security deposit and providing all necessary legal documentation to the tenant.

£150.00 inc. VAT per tenancy
(Payable upon instructions)

Landlord Withdrawal Fees (during tenancy):

To cover the costs associated with advising the tenant of the change and the position of the security deposit, transferring the security deposit to the landlord or new agent, notifying all utility providers and local authority (where necessary) and returning all relevant documents held by the agent to the landlord (Fully Managed Service only).

£150.00 inc. VAT per tenancy

Letting to a new tenant under an existing management agreement Fee:

£240.00 inc. VAT per tenancy

Annual Income and Expenditure Schedule provision Fee:

£60.00 inc. VAT per tenancy

Assistance in acquiring non-UK resident landlord HMRC Approval number

£60.00 inc. VAT

Attendance for Court or Bailiff Proceedings

£50.00 inc. VAT per hour

LET ONLY SERVICE
Optional Additional Services - Payable upon instructions

Preparation of Inventory and Schedule of Condition and undertake Check-In inspection

£120.00 inc. VAT

Registration of Deposit with deposit protection scheme

£25.00 inc. VAT

Periodic Inspections:
Should the Landlord request us to undertake inspections during a tenancy and provide inspection report

£100.00 inc. VAT per inspection

Rent Review Fees:
Review rent in accordance with current prevailing market conditions and advise the landlord, negotiate with the tenant(s), direct tenant(s) to make payment changes as appropriate, issue Section 13 notice if tenancy is on a periodic basis or issuing and completion of further tenancy agreement

£200.00 inc. VAT per tenancy

Right to Rent Follow-Up Check:
Undertake a repeat check on tenants on a time limited visa in accordance with the Immigration Acts 2014 and 2016. Notifying the Home Office should an illegal overstayer be identified

£100.00 inc. VAT per check

End of Tenancy Check-out Fee:
Attend property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit

£200.00 inc. VAT per tenancy

Tenancy Deposit Dispute Fee:
The cost associated with the preparation of all evidence and submitting the case to the tenancy deposit schedule as well as dealing will all correspondence relating to the dispute. This only applies where the agent has protected the deposit

£350.00 inc. VAT per tenancy

Fees for service of Legal Notices (Section 8 or Section 21)

£100.00 inc. VAT per Notice

Issuing and completion of Prescribed Information

£100.00 inc. VAT per tenancy

Variations of Tenancy Agreements

£150.00 inc. VAT per tenancy

Please ask a member of staff if you have any questions about our fees

Download Schedule of fees effective for services from October 2022

Download RICS Client Money Protection Scheme Rules.