Fees payable by the tenant
In addition to the monthly rent, we charge the following fees:
- Deposit – per property
A deposit equal to five weeks (35 days) rent, payable when signing the Tenancy Agreement.
- Late payment of rent
14 days after the due date we will charge interest at a rate of 3% of the monthly rent per day until the rent is received.
Fees payable by the landlord
Please visit the Property Management page to see a full list of services available under let only and full management.
- Tenant reference Fee – per person
£32 + VAT (£38.40 inc VAT). This covers the cost of all reference checks to ensure that the tenant(s) are suitable to move in. The fee is payable once an offer by a tenant has been accepted.
- Commission – per property
8% of the annual rent + VAT (9.6% inc VAT) for the let only service. This includes our time spent in undertaking viewings, referencing tenants, preparing the Tenancy Agreement and collecting the initial rent and deposit.
10% of the annual rent + VAT (12% inc VAT) for the full management service.
15% of the annual rent + VAT (18% inc VAT) for overseas landlords for the full management service.
- Full Management Service
The full management service includes collecting the monthly rent, arranging annual safety checks and certificates and dealing with day-to-day issues. We will seek your approval prior to instructing contractors for repairs that are between £200 to £1,000. For major repair works over £1,000 an additional fee of 10% + VAT (12% inc VAT) of the invoice will be charged.
- Tenancy Deposit Holding Fee – per property, per annum
£30 + VAT (£36 inc VAT) is payable on 1st July each year which covers the cost to register and hold the deposit.
£100 + VAT (£120 inc VAT) is payable on 1st July each year for landlords with 10 or more properties.
- Initial Inventory Fee – per property
£100 + VAT (£120 inc VAT) is payable for a professional inventory which lists the condition of your property and its furnishings (where applicable) at the start of the tenancy. Subsequent inventories are included in the management fee.
- Check Out Fee – per property – only applicable on tenancy deposit disputes
£60 + VAT (£72 inc VAT) is payable at the end of the tenancy to check the tenant(s) out against the initial inventory.
- Abortive Tenancy Fee – per property
6% + VAT (7.2% inc VAT) of the annual rent is payable if you inform us that you do not wish to proceed with the tenancy once we have found you a suitable tenant.
- Purchase of the Property by the Tenant Fee – on completion of the sale
1.5% + VAT (1.8% inc VAT) of the purchase price is payable if the property is sold to the tenant or a connected person during, or within 12 months of the expiration of the tenancy.