Letting Fees and Charges
Tenant fee schedule
Assured Shorthold Tenancies
Holding Deposit (per tenancy) — One week’s rent.
This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading 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 weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent of £50,000 or over per year) — Six weeks’ 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 Rent Due Date until paid in order to pursue non-payment of rent. 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 to 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 costs of a locksmith, new lock and replacement keys for the tenant, landlord 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 device(s).
Variation of Contract (Tenant’s Request) — £50 (inc. VAT) per agreed variation.
To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request) — £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher.
To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant’s Request)
Should the tenant wish to leave their contract early, they shall be liable to 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.
Landlords fees and charges
Fees are expressed as a percentage of the total rent due under the tenancy.
Letting fees are payable fully in advance, management fees are payable in line with the way the rent is due and is normally charged on a monthly basis.
VAT is included at 20% on all charges, where applicable
- Minimum letting fee is £750
- Letting only service (as per our Terms & Conditions) – 12%
- Renewal letting services (as per our Terms & Conditions) – 6%
Renewal fees are due in advance for the length of the renewal term, extension or holding over period of the tenancy
- Management Service (as per our Terms & Conditions) – 6%
Additional or Optional Charges
- Landlord’s share of preparing new or renewal Tenancy Agreement – Nil
- Abortive letting administration fee, if Landlord withdraws instruction after accepting applicant’s offer at no fault of the applicant or agent – £500
- Deposit Protection Charge (first 12 months) – £60
- Deposit Protection Charge on extension or renewal – £30 per annum
- Inventory check-in charge – we will pass on the charge of the Inventory Company only and no additional charge will be made. The Inventory Company charge is usually between £100-£300 and the price is available on application.
- Supervision of repair & refurbishment works which exceed £1,200 – 12% (as a percentage of the net cost)
- Key cutting – suppliers charge only
- Copy of statements – per period – £12
- Copy of full-year statements – £60
- Preparing deposit claim for TDS adjudication – POA
- Additional one off property visits at the request of the Landlord (charge per visit) – £120
- Landlord licence application service – some London local authorities require Landlords to licence their rental properties. As part of our management service we are able to apply for new licence for you – £90
- HMRC accounting for non-resident landlords – £60 per quarter
- Meeting contractors at property – Meeting a contractor at the property where specifically required for a non-managed property – £90 per hour (including VAT)
- Renewal documentation fee – no charge
- Tenancy Agreement fee charge – preparing the Tenancy Agreement and arranging for signing of all parties – no charge
