TERMS OF BUSINESS - LETTING FEES FOR LANDLORDS
Full Management Service
Rental Market Appraisal
An initial discussion and to advise of our opinion of the current market rental of the property.
Full Management Monthly Fee
A 10% commission of the gross rental collected for the duration of the tenancy (whilst under our full management for which the services detailed below are included).
Guaranteed Rent Collection Service Accounting
This service guarantees to the landlord the rent due on time. The service costs 2.5% of the gross monthly rent (inclusive of insurance premium tax). Additionally, in the unfortunate event of an eviction this service also covers the eviction procedure costs.
We will account to you on a monthly basis showing in detail deductions, if any, made on your behalf during that month.
Tenants Deposit
In addition to the first month’s rent we will collect a deposit equivalent to one calendar month’s rent, held in our separate ‘Client Deposit Account’ until the end of the tenancy. Deposits are returned to the tenant less any chargeable dilapidations and/or amounts outstanding. As members of the TDS (Tenants Deposit Scheme) tenant’s deposits are protected.
Prescribed Information
By Law a copy of the ‘Prescribed Information’ duly signed by each party must be provided.
Smoke and CO Alarm Testing
We will carry out smoke and CO alarm tests, now mandatory on the 1st day of a new tenancy when meeting the new tenants to hand over keys to the property.
Gas Safety Certification
A ‘Gas Safety Certificate’ must be in place before any tenancy commences and renewed annually. We will arrange if necessary for this to be done. The current cost of a boiler service/certification is approximately £100 (plus VAT).
Energy Performance Certificate
By law any property (with the exception of ‘Listed Properties’) being let must have a current EPC. We will if necessary
arrange for this to be done. The current cost is £80 (plus VAT).
Alternatively you may make your own arrangements, however this must be in place before the commencement of any tenancy. (EPCs are valid for 10 years).
Payment of Rental Funds
Where the rent is paid by Direct Debit or Standing Order then we will account to you promptly. In the event of the tenant paying by cheque we will account to you on clearance of funds.
Tenants
Care is taken in the selection of tenants and taking up the relevant references. However, we cannot guarantee a tenant(s) behaviour or their continued financial ability to service the rent.
Council Tax & Utility Services
These items are to be paid by the tenant. We notify suppliers of utilities and local authority of the new tenants.
Animals
We recommend that due consideration is given when considering permitting tenants to keep animals (particularly dogs) as they can increase the chances of damage done to the property and garden.
Maintenance & Repairs
From time to time a property may need repairs carried out, boiler serviced and/or general maintenance. This we will arrange by contractors known to us who have proved to be reliable. Of course, should you wish us to use your own builder or contractor then we are happy to do this. Additionally we can settle their accounts out of rent income we hold on your behalf. (Details of which would show on our monthly account.)
Boilers
We will arrange for the gas or oil fired boilers to be serviced (where appropriate, the safety certificate to be issued and a copy given to the tenant). Note: Boilers are normally serviced once a year. Additionally, we can settle the contractor’s account out of rent income we hold on your behalf. (Details of which would show on our monthly account).
Property inspections
We will carry out regular inspections (usually every 4 months) for all fully managed properties.
End of Tenancy - Checking Out
At the end of the tenancy we will inspect the property and ‘check out’ the tenant and make any appropriate deductions from their deposit if necessary.
AT THE COMMENCEMENT OF A NEW TENANCY THE FOLLOWING ADDITIONAL CHARGES APPLY
Preparation of a New Tenancy Agreement
The formal Agreement will be an ‘Assured Shorthold Tenancy’ with a minimum term of 6 calendar months. Three documents are prepared which are both signed by both tenant and landlord (one copy for each party) and preparation of ‘tenant information pack’. - £120.00
Preparation of Tenancy Renewal
The formal Agreement will be an ‘Assured Shorthold Tenancy’ with a minimum term of 6 calendar months. Three documents are prepared which are both signed by both tenant and landlord (one copy for each party). - £95.00
References We take up references on prospective tenants through Van Mildert or ‘Homelet’ (both leading tenant referencing agencies). - £80.00
Out of Pocket Expenses
There is a set ‘one off’ charge for ‘Out of pocket’ expenses (deducted from the first month’s rent). This charge includes all advertising, accompanied viewings and travel costs. - £75.00
New Tenancy Inventory
Preparation of a new inventory (including photographs). - £95.00
ALL CHARGES ARE SUBJECT TO VAT
Tenant ‘Find Only’ Service
Rental Market Appraisal Marketing and Viewings Preparation of Tenancy Agreement
An initial discussion and to advise of our opinion of the current market rental of the property. We will carry out all marketing and viewings of the property and provide you with regular feedback. We will prepare the formal Agreement which will be an ‘Assured Shorthold Tenancy’ with a minimum term of 6 calendar months. Two documents are prepared which are both signed by both tenant and landlord (one copy for each party).
Our Finder Fee
A one off commission equal to one month’s gross rental collected (inclusive of VAT).
Tenants Deposit
In addition to the first month’s rent we will collect a deposit equivalent to one calendar month’s rent, held in our separate ‘Client Deposit Account’ until the end of the tenancy. Deposits are returned to the tenant less any chargeable dilapidations and/or amounts outstanding. As members of the TDS (Tenants Deposit Scheme) tenant’s deposits are protected.
Prescribed Information
By Law a copy of the ‘Prescribed Information’ duly signed by each party must be provided.
Smoke and CO Alarm Testing
By Law a copy of the ‘Prescribed Information’ duly signed by each party must be provided. We will carry out smoke and CO alarm tests, now mandatory on the 1st day of a new tenancy when meeting the new tenants to hand over keys to the property.
Gas Safety Certification
A ‘Gas Safety Certificate’ must be in place before any tenancy commences and renewed annually. We will arrange if necessary for this to be done. The current cost of a boiler service/certification is approximately £100 (plus VAT).
Energy Performance Certificate
By law any property (with the exception of ‘Listed Properties’) being let must have a current EPC. We will if necessary arrange for this to be done. The current cost is £80 (plus VAT). Alternatively you may make your own arrangements, however this must be in place before the commencement of any tenancy. (EPCs are valid for 10 years).
Payment of Rental Funds
If required we will arrange for a ‘Standing Order’ to be setup for the Tenant(s) to pay the monthly rent directly into your nominated account.
AT THE COMMENCEMENT OF A NEW TENANCY THE FOLLOWING ADDITIONAL CHARGES APPLY
References
We take up references on prospective tenants through Van Mildert or ‘Homelet’(both leading tenant referencing agencies). - £80.00
Out of Pocket Expenses - N/A
Tenancy : Preparation of all documentation including AST - Inclusive of Fee
ALL CHARGES ARE SUBJECT TO VAT (unless otherwise stated)
Our letting business is managed and operated through our sister company Moloney & Partners Ltd. trading as Just Lettings
We are members of The Property Ombudsman Scheme (TPO) & the Client Money Protection Scheme (CMP membership no.006875) & My Deposits – Deposit Protection Scheme
