Levels of Services Offered
|Landlord Fees Schedule||Tenant Find: 10% of rent plus VAT (12% inc. VAT)||Rent collection: 11% of rent plus VAT (13.2% inc. VAT)||Fully managed: 16% of rent plus VAT (19.2% inc. VAT)|
|Agree the rental value|
|Provide guidance on compliance with statutory provisions and letting consents|
|Advise on refurbishment requirements|
|Erect board outside property in accordance with Town and Country Planning Act 1990 (where possible)|
|Market the property and advertise on relevant portals|
|Carry out accompanied viewings (as appropriate)|
|Advise on non-resident tax status and HMRC (if relevant)|
|Collect and remit initial months’ rent|
|Provide tenants with method of payment|
|Deduct any pre-tenancy invoices|
|Make any HMRC deduction and provide tenant with the NRL8 (if relevant)|
|Advise all relevant utility providers of any changes|
|Agree collection of any shortfall and payment method|
|Demand, collect and remit the monthly rent|
|Arrangement payments for statutory requirements|
|Pursue non-payment of rent and provide advice on rent arrears actions|
|Undertake two routine visits per annum and notify the outcome to the landlord|
|Arrange routine repairs and instruct approved contractors (providing three quotes)|
|Security Deposit dilapidation negotiations|
|Hold keys throughout the tenancy term|
Landlords Fee Schedule
Additional Non-Optional Fees and Charges
Pre-Tenancy Fees (All Service Levels)
Arranging and facilitating statutory compliance (this is in addition to the costs of the item itself) if not provided on instruction or undertaken by the landlord:
- Energy Performance Certificate (EPC) £150 (inc. VAT) per tenancy
- Gas Safety Certificate (GSR) £150 (inc. VAT) per tenancy
- Portable Appliance Testing (PAT) £150 (inc. VAT)
- per tenancy
- Legionella Risk Assessment £120 (inc. VAT) per tenancy
- Installing Smoke alarms and Carbon Monoxide £240 (inc. VAT) per tenancy
- Testing Smoke alarms and Carbon Monoxide detectors on the first day of the tenancy £120 (inc. VAT) per tenancy
- Handling local authority licensing application £354(inc. VAT) per tenancy
- Visual check in compliance with the Homes Act 2018 on the first day of the tenancy £120 (inc. VAT) per tenancy
Start of Tenancy Fees
Set-up Fees: £480 (inc. VAT) per tenancy
Referencing for up to two tenants (ID checks, Right-to-Rent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.
Additional Tenant Referencing Fees: £240 (inc. VAT) per tenant
As Set-up Fees above for additional tenants.
Guarantor Fees: £120 (inc. VAT) per guarantor
Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
Permitted Occupier Fees: £120 (inc. VAT) per permitted occupier
Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
Deposit Registration Fees (where collected):£120 (inc. VAT) per tenancy
Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme. Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the tenancy start date.
Inventory Fees: See attached Schedule
Dependant on the number of bedrooms and/or size of the property and any outbuildings.
Accompanied Check-in Fees: £120 (inc. VAT) per tenancy
Attending the property to welcome the tenant(s), confirm the Inventory and Schedule of Condition, explain the operation of appliances, highlight the location of utility meters, stop-cocks etc. and test that all smoke alarms and carbon monoxide detectors are present and in working order. This is subject to an approved Inventory as above.
Landlord Withdrawal Fees (before move-in): £440 (inc. VAT) per tenancy
To cover the costs associated with the marketing, advertising and tenancy set-up should the landlord withdraw from the tenancy before it has started.
During Tenancy Fees
Additional Property Visits: £140 (inc. VAT) per visit
Should the landlord request property visits in addition to those within their existing Terms of Business, this covers the costs of attending the property.
Rent Review Fees: £120 (inc. VAT) per tenancy
Review rent in accordance with current prevailing market conditions and advise the landlord, negotiate with the tenant(s), direct tenant(s) to make payment change as appropriate, update the tenancy agreement and serve a Section 13 Notice if the tenancy is on a periodic basis.
Renewal Fees: £240 (inc. VAT) per tenancy
Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
Right-to-Rent Follow-Up Check: £120 (inc. VAT) per check
Undertaking a repeat check in person on a time-limited visa in accordance with the Immigration Acts 2014 and 2016. Notifying the Home Office should an illegal overstayer be identified. This does not apply to a Tenant-Find service.
Landlord Withdrawal Fees (during tenancy): £440 (inc. VAT) per tenancy
To cover the costs associated with advising the tenant on the change and the position of the security deposit, transferring the security deposit to the landlord or new agent, notifying all utility providers and local authority (where necessary) and returning all relevant documents held by the agent to the landlord. This does not apply to a Tenant-Find service.
Arrangement Fees for works over £100: 18% of net cost (inc. VAT)
Arranging access and assessing the costs with any contractors, ensuring work has been carried out.
End of Tenancy Fees
Check-out Fees: £360 (inc. VAT) per tenancy
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
Tenancy Dispute Fee: £240 (inc. VAT) per tenancy
The costs associated with the preparation of all evidence and submitting the case to the tenancy deposit scheme as well as dealing with all correspondence relating to the dispute. This only applies where the agent has protected the deposit.
Fees for the service of Legal Notices (Section 8 or Section 21): £120 (inc. VAT) per Notice
Court Attendance Fees: £180 (inc. VAT) per hour. Plus travel at 45p per mile
Interest on Unpaid Commission: 4% above the Bank of England Base Rate from Due Date until paid.
Contractor Commission: 18% of contractors invoice (inc. VAT)
To cover the costs associated with arranging and facilitating the visit of a vetted professional tradesperson.
Submission of Non-Resident Landlords receipts to HMRC £120 (inc. VAT) quarterly
To remit and balance the financial Return to HMRC on both a quarterly and annual basis.
Additional HMRC Reporting Fees: £120 (inc. VAT) per request
Responding to any specific queries relating to either the quarterly or annual Return from either the landlord or HMRC.
Fees for providing an Annual Income and Expenditure Schedule: £120 (inc. VAT) annually
Referral fee of 2% of the annual rent. Where rent is £180pw, this will equate to £225 inc vat. On £2500pw rent = £3120 inc vat.
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Terms & Conditions apply. Rent & Legal Protection is eligible on all approved tenancies only.
Shaws Estate Agents Ltd., T/A Shaws Kensington is an Introducer Appointed Representative of LegalforLandlords who are directly authorised by the FCA.