Landlord Fees & Services
All fees are quoted fully inclusive of VAT unless otherwise stated.
Marketing and Let Only Service: 5 weeks rent (plus VAT) payable for each letting where the tenant is introduced through Park Estates which in addition to the above will include:
Provide a full market appraisal.
Market the property to find a suitable tenant.
Erect a board in accordance with the Town & Country Act 1990.
Arrange viewings.
Take appropriate references which are normally outsourced to include the immigration status of the applicant. The landlord would be responsible for any further checks.
Prepare a Tenancy Agreement.
Collect the first month’s rent and deposit equivalent of 5 weeks rent in advance.
Provide tenant with method of payment.
Deduct any pre-tenancy invoices.
Balance of funds received from the tenant, less our fees and expenses sent to Landlord. This element does not apply to the following levels of service.
Letting and Rent Collection Service:- 3 weeks rent (plus VAT) + 9.00% (inc VAT) which in addition to our Marketing & Let Only Service includes:-
Collect and remit initial monthly rent received less our fees.
Agree collection of any shortfall and payment method.
Provide tenant with method of payment.
Deduct any pre-tenancy invoices including any appropriate HMRC income tax deduction if the Landlord lives overseas unless the Landlord has HMRC approval for gross rents to be paid.
Full Management Service:- 3 weeks rent (plus VAT) + 15.00% (inc VAT) which in addition to our Letting and Rent Collection Service includes:-
Arrange routine repairs and instruct approved contractors (providing quotes for approval).
Hold keys throughout the tenancy term.
Carry out an inspection every 6 months and report to the landlord.
Liaise with tenant on all day to day tenancy and matters arising.
Arrange all periodic mandatory safety checks.
Provide an itemized monthly statement.
Arrange the tenancy deposit return including liaising with the tenant in respect of deductions and dealing with any possible disputes.
Liaise with a current tenant to remarket the property for a new tenancy.
Additional Optional Charges (as and when they arise):-
Inventory Services: Preparation of a photographic inventory and schedule of condition of the property. From £160 for unfurnished and £180 for furnished. Charges are based on a studio/ 1 bedroom. £20 will be added for each further bedroom.
Inventory Check-in: £48
Inventory Check-out: £48
Legal Warranty and Expenses Cover: Quote on application.
Deposit Registration for all managed properties: £60 for registration of the landlord, tenant details, protect the security deposit with a government authorised scheme, provide the tenant(s) with a deposit certificate and prescribed information certificate within 30 days of start of tenancy. This would be an annual payment.
Deposit Registration for non-managed properties: £120
Professional Rate for Court Attendance: £360
Invoice Handling (non-managed only): £6 per contractor/utility invoice.
Legal Notices: £180 Prepare and serve a Section 13, Section 8 or Section 6a Notice (formally a Section 21 Notice).
Legionella Risk Assessment: £120
Energy Performance Certificate: £120
PAT Testing: Quote on application.
Smoke Alarms: Quote on application.
Carbon Monoxide Detector: Quote on application.
Electrical Safety Testing: Quote on application.
Gas Safe Inspection: £70
Providing a Duplicate Tenancy Agreement (non-managed only): £90
Providing Duplicate Statements (non-managed only): £10
Void Property Inspections: £48
Periodic Inspections (non managed only): £48
Submission of Non-Resident Landlord Receipts To HMRC: There would be no charge to remit and balance the financial return to HMRC quarterly and respond to any specific query relating to the return from the landlord or HMRC.
Tenancy Renewal Fee: £180.00 for contract negotiation, amending and updating terms and arranging a further tenancy agreement.
Overseeing Major Work Over £1000.00: £240 for arranging access and assessing costs with contractor and ensuring that all works have been carried out in accordance with the specification of works, retaining any warranty or guarantee because of any works.
Sale of Property to Tenant: 1.20% of the eventual selling price agreed for negotiations and sale progression to exchange of contracts.
File Submission to TDS: £360.00
Contract Cancellation: Our let only fee plus VAT and other reasonable costs incurred should the landlord cancel instructions to provide Let and Rent Collection or Full Management Service.
Professional Independent Redress: Independent Redress provided by The Property Ombudsman. The relevant codes of practice can be found on www.tpos.co.uk. We are a NAEA Propertymark Protected Member with full client money protection cover provided by Propertymark. For our managed properties all deposits are registered with Tenancy Deposit Scheme.
Should you have any questions or require any clarification regarding the costs then please do not hesitate to contact us directly.