Establishment Fee - £200 + VAT (per property - NOT per tenant)
The establishment fee covers all the work we do after initially taking on your property. I.e. marketing, carrying out tenant viewings, organising the tenancy contract, performing the video inventory etc. The establishment fee effectively covers the cost of the first let of your property.
Contract Renewal Fee - £50 + VAT (per property - NOT per tenant)
If both yourself and the tenant(s) wish to renew the contract after the initial fixed term then the contract renewal fee covers this.
Re-Let Fee - £125 + VAT (per property - NOT per tenant)
The re-let fee covers the cost of re-letting your property each time a tenant moves out and a new tenant moves in.
Monthly Commission Rate
Our commission rate is 12% + VAT. This sum is only collected for tenanted periods and covers a great deal of our services such as:
- Need a copy of a statement? No extra charge
- To have us inspect the property during a tenancy? No extra charge
- Need a copy of a contract or the inventory? No extra charge
Astonishingly, we are finding other agents charging for the likes of the above, especially since the Tenant Fee Ban 2019 came in to force.
The commission rate covers most points and general management apart from third party issues such as maintenance costs, possible legal expenses and “Selective Licensing” (if relevant to your property). We will always try our best to give you an idea on costs with these extra issues should they arise.
Remember that most agents will have similar fees, some will even seek to undercut our rates but do you really want to risk a poorly managed tenancy with a different agent for the sake of a few pounds per month? A quick look at our reviews should confirm our quality and commitment.
Placement (Tenant Find) £650 + VAT*
Along with our managed service we are able to offer a Tenant Find or Placement service for Landlords who wish to manage the tenancy themselves. With the volume and ever-changing nature of legal and other aspects to managing a tenancy this is a service we would advise that you carefully consider, a fully-managed service may be better for you and we would be happy to advise you on this.
With a Placement we carry out the same checks and services to the same excellent standard as our managed tenancies but you take over the management (rent collection, maintenance, renewal of contract, end of tenancy, etc) on the day the contract starts, our involvement ceases once your tenant has collected the keys.
Our Placement fee (£650 + VAT) covers all aspects, inclusive of:
- All the marketing - listing the property online, carrying out viewings, etc
- The application process - done to the same strong standard as all other applications we take.
- All referencing, credit checks and all other checks involved in the application.
- Completion of a video inventory with a copy given to the Landlord and Tenant
- Drawing up of the contract and the handing over of keys
It is a legal requirement that you register the tenant's deposit in the event of a Placement. We ask that you create a Deposit Protective Service account - this is a simple process - prior to the tenancy. You must also ensure that we are in receipt of a valid EICR (Electrical Check) and, where applicable, a Landlord's Gas Safety Certificate before the tenancy commences.
* Due the manner in which application/tenancy monies must be handled we may ask you to pay some or all of this sum in advance of the tenancy.