Tenants Fees Schedule
New assured shorthold tenancies (ASTs)
Signed on or after 1 june 2019
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 for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request) – £50 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 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.
Existing assured shorthold tenancies (ASTs)
and all assured tenancies
BEFORE YOU MOVE IN
Set-up Fees (Tenant’s Share): £240 per tenancy.
Covers contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.
Tenant Referencing Fees: £48 per tenant. Referencing (ID checks, Right-to-Rent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability).
Guarantor Fees: £138 per guarantor.
Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
Inventory Check in Fee: From £144 as quoted by independent inventory clerks. Dependant on the number of bedrooms and/or size of the property and any outbuildings.
Pet Deposit: Additional Security Deposit of 2 weeks’ rent.
To cover the added risk of property damage. This will be protected in accordance to current legislation and may be returned at the end of the tenancy.
DURING YOUR TENANCY
Tenancy Renewal Fee: £90 per tenancy.
Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
Change of Tenant Administration Fee: £198 per replacement tenant. 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.
ENDING YOUR TENANCY
Early Termination: Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property plus the pro-rata commission for the unexpired segment of the tenancy 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.
OTHER FEES AND CHARGES
Lost Key(s) or other Security Device(s): £36 plus item cost. Obtaining necessary permissions, sourcing providers and travel costs.
Rent Arrears/ Returned Payments: £30 per letter, telephone call or email requesting payment plus interest at 4% above Bank of England Base Rate from Due Date until paid on any outstanding sums in order to cover the agent’s costs associated with chasing unpaid rent.
Failed Appointment Fee: £36 plus cost.
Covering the agent’s cost in rearranging the appointment.
Inapproriate Call Out Charge: £60 per hour plus cost. Covering the agent’s or nominated contractor’s time to remedy situations of the tenants’ making.
Landlord Fees Schedule
| Let intro: 13.2% |
Rent Collection: 16.8% |
Full Management: 20.4% |
|
|---|---|---|---|
| Advising as to the likely rental income | ✓ | ✓ | ✓ |
| Providing guidance on compliance with statutory provisions and letting consents | ✓ | ✓ | ✓ |
| Advising on refurbishment requirements | ✓ | ✓ | ✓ |
| Advising on non-resident tax status and HMRC (if relevant) | ✓ | ✓ | ✓ |
| Advertising and generally marketing the Property | ✓ | ✓ | ✓ |
| interviewing prospective tenants | ✓ | ✓ | ✓ |
| Negotiating the terms of the tenancy | ✓ | ✓ | ✓ |
| Carrying out accompanied viewings | ✓ | ✓ | ✓ |
| Collecting and remitting initial months’ rent | ✓ | ✓ | ✓ |
| Providing tenants with method of payment | ✓ | ✓ | ✓ |
| Deducting any pre-tenancy invoices | ✓ | ✓ | ✓ |
| Making any HMRC deductions | ✓ | ✓ | ✓ |
| Taking a security deposit from the tenant which is to be held in accordance with current legislation | ✓ | ✓ | ✓ |
| Demanding, collecting, and remitting the monthly rent | ✓ | ✓ | |
| Pursue non-payment of rent and provide advice on rent arrears actions | ✓ | ✓ | |
| Making payments on behalf of the Landlord from rents received for costs in managing the property | ✓ | ✓ | |
| Arranging with service companies for meter readings and advising them of the transfer or service contracts to the tenant | ✓ | ||
| inspecting the Property on a regular basis, not less often than once every six months | ✓ | ||
| Arranging routine repairs or maintenance obtaining estimates where necessary, supervising works and settling accounts from rents | ✓ | ||
| Receiving and forwarding Landlord's mail | ✓ | ||
| Holding keys throughout the tenancy term | ✓ |
Additional non-optional fees and charges
START OF TENANCY FEES
Set-up Fees: £300 per tenancy. Referencing for up to two tenants (ID checks, Rightrerent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to
assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.
Additional Tenant / Guarantor Referencing Fees: £48 per tenant. As Set-up Fees above for additional tenants.
Permitted Occupier Fees: £24 per permitted occupier. Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
Inventory Check in Fees: From £156 as quoted by independent inventory clerks. Dependant on the number of bedrooms and/or Size of the property and any outbuildings.
Deposit Registration Fees (where collected):£30 per tenancy. Register landlord and tenant details and protect the security deposit in accordance with current legislation.
DURING TENANCY FEES
Arrangement Fees for works: 12% of net cost. Arranging access and assessing the costs with any contractors, ensuring work has been carried out in
accordance with the Specification of Works and retaining any resulting warranty or guarantee. Tenant Find and Rent Collection services only.
Arrangement Fees for works over £500:12% of net cost. Arranging access and assessing the costs with any contractors, ensuring work has been carried out in accordance with the Specification of Works and retaining any
resulting warranty or guarantee. Fully Managed service only.
Additional Property Visits: £72 per visit.
Should the landlord request property visits in addition to those within their existing Terms of Business, this covers the costs of attending the property.
Renewal Fees: 13.2% for Tenant Find service, 16.8% for Rent Collection service and 20.4% for Fully Managed service. Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
END OF TENANCY FEES
Fees for the service of Section 21 Notice: £120.
Check out Fees: From £120 as quoted by independent inventory clerks. Attending the property to undertake an updated Schedule of Condition based on the original inventory.
Deposit Dispute Service Fee: £120. The costs associated with the preparation of all evidence and submitting the case to the tenancy deposit scheme as well as dealing with all correspondence relating to the dispute. This only applies where the agent has protected the deposit.
FINANCIAL CHARGES
Interest on Unpaid Commission: 8% above the Bank of England Base Rate from Due Date until paid.
Submission of Non-Resident Landlords receipts to HMRC £90 quarterly. To remit and balance the financial Return to HMRC on both a quarterly and annual basis.
OTHER FEES AND CHARGES
Vacant Property Management Fees: £120 per visit. To cover the costs associated with visiting the property to undertake visuals checks on the inside and outside at a frequency mutually agreed with the landlord.
Deposit Transfer Fees: £60 per deposit.
Should the landlord request any changes to a protected deposit during a tenancy, this covers the costs associated with legal compliance for said request.
Key Cutting: £35 plus cost. To have the required sets of keys made where the Landlord has not provided sufficient keys in accordance with the agreement.
Sale of the property to the tenant: 3% of the sale price.
Arranging and obtaining the Energy Performance Certificate (EPC) for up to 3 bedrooms: £90 plus £10 congestion charge if applicable.
Arranging and obtaining the Gas Safety Certificate: £100
Any other services as requested by the Landlord: £72 per hour for a staff member and/or £180 per hour for a manager/director, plus cost.