Expert Property Shop | Fees & Charges
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Fees & Charges

Landlords

 

To provide a Let & Manage service we charge

(a) Letting Fee: £375.00

 

The Letting Fee will be payable for each agreement granted to new tenants and includes:

  • Visit the property and advise on any action you need to take before letting the property. This includes any repairs and refurbishments needed to put it into a fit state for letting.

  • Give you advice on the level of rent you can expect.

  • Provide a copy of our Health & Safety Policy and arrange all safety checks.

  • Explain your rights and responsibilities, and the tenant’s rights and responsibilities

  • Request identification from your tenant to comply with the Right to Rent Legislation.

  • Give you advice on what action to take if the property is mortgaged.

  • Give you advice on insuring the building and contents, and other insurance schemes which may be available to protect interests not normally covered in standard household policies where a tenant is in residence.

  • Accompany possible new tenants to view unoccupied property.

  • Choose a tenant in a way agreed with you, taking up references and checking the tenant’s rent payment record.

  • Provide and fill in a tenancy agreement and take a deposit to protect against possible damage or agree with you another sort of guarantee.

  • Protect the deposit with one of the Statutory Tenancy Deposit Schemes.

  • Transfer the bills for the services for which the tenant will be responsible into the tenant’s name.

(b) Management Commission

 

Equivalent to 10% of rental received (subject to a minimum fee of £40).

The Management Fee includes:

  • Serve the correct notices on the tenant.

  • Give you a statement of account as often as agreed with you (usually monthly).

  • Visit the property periodically during the course of the tenancy as often as agreed with you (e.g. every six-months) to check it is being suitably looked after.

  • Arrange to have routine maintenance work carried out, up to a limit agreed with you. We will refer expenditure above that limit to you for approval.

  • Respond promptly to the tenant’s enquiries.

  • Keep an eye on the tenant’s rent payment record and take reasonable steps to safeguard prompt payment of any money owed.

If you want to end the tenancy, We will:

  • Serve the correct notices on the tenant.

  • Check the condition of the property and any contents and discuss any repairs with you before giving the deposit back or arranging for repairs.

  • Collect the key and make sure that the property is secure.

(c) Tenancy Renewal Fee

 

 £75.00 will be payable on the occasion of each renewal of an existing agreement or where a rent increase has been negotiated. The tenancy renewal fee will include:

 

The tenancy renewal fee will include

  • Review rent in accordance with current prevailing market condition and advise the landlord

  • Negotiate with tenant

  • Direct tenant to make payment change as appropriate

  • Update the tenancy agreement

  • Serve Section 13 Notice where a rent increase is agreed and the tenancy is retained on a rolling monthly basis

Preparation of Inventory

 

Charges for preparation of an inventory and schedule of condition are £60.

(d) Sale of Property

In the event of a tenant or prospective tenant introduced by The Agent completing the purchase of the property at any time, a commission will be payable by The Owner to The Agent equivalent to one percent of the selling price.

To provide a Let Only service we charge:

Our fee for the Letting Only Service is £490 plus £60 in the event an inventory needs preparing.

The Letting Fee includes:

  • Visit the property and advise on any action you need to take before letting the property. This includes any repairs and refurbishments needed to put it into a fit state for letting.

  • Give you advice on the level of rent you can expect.

  • Explain your rights and responsibilities, and the tenant’s rights and responsibilities

  • Carry out accompanied viewings

  • Visit the property and advise on any action you need to take before letting the property. This includes any repairs and refurbishments needed to put it into a fit state for letting.

  • Give you advice on the level of rent you can expect.

  • Explain your rights and responsibilities, and the tenant’s rights and responsibilities

  • Carry out accompanied viewings

To apply for a property the applicant must agree to a reference being carried out which will include a credit reference, a current or previous landlord reference and an employment reference

Permitted Fees

  • Late Rent Fees: Where rent is overdue by at least two weeks a fee equivalent to 3% plus the Bank of England base interest rate of the sum outstanding is payable

  • Lost Keys: Where a tenant has lost a key or other security device a reasonable cost will be charged to cover the cost of replacement

  • Changes to the tenancy: Where the tenant makes a request, which requires a change to an existing tenancy agreement a charge of up to £50 can be made. Where the landlord can demonstrate that their costs have exceeded £50 then these additional costs can also be charged to the tenant

  • Give you advice on insuring the building and contents, and other insurance schemes which may be available to protect interests not normally covered in standard household policies where a tenant is in residence.

  • Accompany possible new tenants to view unoccupied property.

  • Choose a tenant in a way agreed with you, taking up references and checking the tenant’s rent payment record.

  • Provide and fill in a tenancy agreement and take a deposit to protect against possible damage or agree with you another sort of guarantee.

  • Protect the deposit with one of the Statutory Tenancy Deposit Schemes.

  • Transfer the bills for the services for which the tenant will be responsible into the tenant’s name.

Charges for preparation of an inventory and schedule of condition are only normally payable on the first letting unless the there has been considerable change to the condition or contents of the property.

Tenants

 

To apply for a property, we require payment of a holding fee equivalent to one week’s rent.
  • The holding deposit will be retained for 15 days or such other period as is agreed after which it will be:

  • Returned to the tenant within seven days of the date on which the period ends – where no tenancy has been offered

  • Used to offset the first rent payment – where a tenancy has been offered

  • Retained by the Letting Agent where one of the following conditions apply:

    • The applicant withdraws
    • The applicant does not take all reasonable steps to enter the tenancy
    • The applicant fails a right to rent check
    • The applicant provides misleading information which materially affects their suitability to rent the property

    To apply for a property the applicant must agree to a reference being carried out which will include a credit reference, a current or previous landlord reference and an employment reference

  • Providing a reference to a potential new landlord
    or letting agent

Housing in Multiple Occupation

To manage a House in Multiple occupation we charge a management commission equivalent to 10% of the rent received. The Management Fee includes:

  • Visit the property and advise on any action you need to take before letting the property. This includes any repairs and refurbishments needed to put meet the health and safety requirements for a HMO.

  • Give you advice on the level of rent you can expect.

  • Provide a copy of our Health & Safety Policy and arrange all safety checks.

  • Explain your rights and responsibilities, and the tenant’s rights and responsibilities

  • Request identification from your tenant to comply with the Right to Rent Legislation. 

  • Give you advice on what action to take if the property is mortgaged.

  • Give you advice on insuring the building and contents, and other insurance schemes which may be available to protect interests not normally covered in standard household policies where a tenant is in residence.

  • Advertise available rooms in the shop window and online.

  • Advertise available rooms in the shop window and online.

  • Accompany potential new tenants on viewing.

  • Accept a new tenant and carry out Right to Rent checks

  • Complete a tenancy agreement and take any deposit required to protect against possible damage.

  • Protect the deposit with one of the Statutory Tenancy Deposit Schemes, where relevant.

During the tenancy We will:

  • Collect the rent and pass it on to you every month or as otherwise agreed. The agent will keep a separate clients’ account to hold all money. 

  • Give you a statement of account as often as agreed with you (usually monthly).

  • Carry out property inspections periodically to check it is being suitably looked after and there are no issues with tenants or the property.

  • Arrange to have repairs and routine maintenance work carried out, up to a limit agreed with you. The agent will refer expenditure above that limit to you for approval.

  • Respond promptly to any tenant’s enquiries.

  • Monitor the tenant’s rent payment record and take reasonable steps to safeguard prompt payment of any money owed.

Before the tenancy ends We will:

  • Begin advertising for a new tenant.

  • Begin advertising for a new tenant.

Housing in Multiple Occupation Tenant

  • Before you can move into a room in a House in Multiple Occupation you will pay:

    • Three weeks’ rent

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Fees charged by Letting Agents

Since 27th May 2015 it has been a requirement that all letting agents provide clear information about the fees it charges to both landlords and tenants. We trust that the information provided on this page fulfills that obligation but if you have any questions whatsoever please contact us on 01909 495222 or via our Contact Us page.