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  Assured shorthold tenancies Procedure for renting  
 

Landlords:

   
  Residential Properties Assured Shorthold Tenancies- Conditions of Management  
    General Conditions of Management  
  Commercial Properties Commercial Conditions of Management  

All fees quoted include VAT

 

FEES TO TENANTS

Tenancy Agreement
Processing the application, and associated paperwork

£120 per agreement
Referencing £30 per reference
Guarantor Fee
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement
£30 per guarantor (if required)
Accompanied Check-in Fee
Preparing an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services
£120
Pet Deposit - Returnable
To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy
Additional Security Deposit of £1000

DURING YOUR TENANCY:
Amendment Fee
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy

3.6% of annual rent
Renewal Fee (tenant’s share)
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
£120
ENDING YOUR TENANCY:
Check out Fee
(tenant’s share)
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)

No charge
Future Landlord Reference Fee
Collating information and preparing a reference for a future landlord or letting agent
£36 per reference request
OTHER FEES AND CHARGES:
 
Lost Security Items
Obtaining necessary permissions, sourcing providers and travel costs

£150 plus item cost
Unpaid Rent / Returned Payments

£30 per additional payment or returned payment. Interest at 3% above Bank of England Base Rate from date due
Professional Cleaning (if required)
Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy

£50 per hour which will be deducted from the Security Deposit
   
 
 

 

FEES TO LANDLORDS - RESIDENTIAL PROPERTY

Ground Rents 24% on the gross rental
Monthly Rents 9% on the gross rental
Weekly Rents 15% on the gross rental
Assured Shorthold Tenancies 9% on the gross rental

MAINTENANCE - Repairs, carpet cleaning, general cleaning and other such items costing over £100. This will include obtaining competitive estimates where necessary and supervising the works.

15% of net cost of works

RENT REVIEW

Assured Shorthold Tenancies

Considering open market rental value and serving Notice of Increase on tenant in respect of Assured tenancies and granting new fixed term agreement in respect of Assured Shorthold tenancies.

3.6% of rent proposed

Dealing with appeals by tenant to Assessment Committee against open market rent. Preparing representations and submitting them to Committee.

Rent Quantum meruit basis - minimum fee £720 plus fee for attendance at hearing if required

Attendance at hearing to give evidence.

£210 per hour including travelling time

Regulated Tenancies

Application for registration of a fair rent to the Rent office - including service of Notice of Increase on tenants 6% of rent registered rent
Attendance at consultation before Rent officer. Minimum fee of £300

Appealing to the Rent Assessment Committee against registration of a minimum Fair rent

On quantum meruit basis - minimum fee 720 plus a fee for attendance at hearing if required

Attending hearing to give evidence

210.00 per hour including travelling time
Assured Tenancies
Considering open market rental value and serving Notice of Increase on tenant . in respect of Assured tenancies. 3.6% of rent proposed
Dealing with appeals by tenant to Rent Assessment Committee against open market rent. Preparing representations and submitting them to Committee.


Quantum meruit basis- minimum fee 720 plus fee for attendance at hearing if required

Attendance at hearing to give evidence. 210.00 per hour including travelling time .

LETTINGS

12% of 1 year's rent irrespective of letting period. In cases where we are also instructed to manage the property for a minimum of one year 6% of 1 year's rent.

TENANCY AGREEMENT - Preparation of Tenancy Agreement on Landlord's behalf.

120

PROCEEDINGS - Instructing Solicitors to issue proceedings for arrears of rent, possession etc. including attendance at Courts and other tribunals.

Quantum meruit - minimum fee 720

TAX - Preparation of statements for assessment of income tax

Quantum meruit basis. Minimum fee 450 per year of assessment

TERMINATION OF MANAGEMENT

405 per tenancy where three month's notice not given.

INVENTORIES - Prior to every new letting commencing or terminating, we will employ third party inventory clerks to prepare an inventory and schedule of condition and check the tenants in and out

We use a number of different companies depending on their availability and also the size of the unit being let. Charge will be the inventory clerks actual fees

FEES TO LANDLORDS - COMMERCIAL PROPERTY

Monthly Tenancies


Rents up to 5,000 p.a. 12% on gross rental

Rents over 5,000 p.a. 9% on gross rental

Quarterly Tenancies




Rents up to 5,000 p.a. 9% on gross rental

Rents up to 5,001 p.a. but under 10,000 p.a 6% on gross rental

Rents over 10,000 p.a. 3.6% on gross rental

Garages 12% p.a. on gross rental

Rent Reviews

12% of one year's reviewed rent - minimum fee 1,800

Lease Renewals

12% of one year's rent - minimum fee 2,400

Assignment of Leases where fees not payable by either assignor or assignee

Quantum meruit - minimum fee £840

Surrender of Leases where fees not payable by lessee.

Quantum meruit - minimum fee 1,200

Dilapidations

12% of cost of works

Attendance at Courts

360 per hour

Supervision of building works over 100

15% of cost of works
Termination of management where three months notice not given. 900 per tenancy

 

 


All fees quoted include VAT

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