Scale Of Fees
Tenants
Assured Shorthold Tenancies
Holding Deposit (per tenancy) — One weeks’ rent.
This is to reserve a property. This will be withheld if any relevant person
(including any guarantor(s)) withdraw from the tenancy, fail referencing, provide false or misleading information, or fail to sign their tenancy agreement
(and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as
mutually agreed in writing).
Deposit (per tenancy. Rent under £50,000 per year) — Five weeks’ rent.
This covers damages, shortfalls and other defaults on the part of the tenant during the tenancy.
Deposit (per tenancy. Rent of £50,000 or over per year) — Six weeks’ rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order
to pursue non-payment of rent. Please Note: This will not be levied until the rent is more
than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If
the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and
replacement keys for the tenant, landlord any other persons requiring keys will be charged
to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for
the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request) — £50 (inc. VAT) per agreed variation.
To cover the costs associated with taking landlord’s instructions as well as the preparation
and execution of new legal documents.
Change of Sharer (Tenant’s Request) — £50 (inc. VAT) per replacement tenant or any
reasonable costs incurred if higher.
To cover the costs associated with taking landlord’s instructions, new tenant referencing
and Right-to-Rent checks, deposit registration as well as the preparation and execution of
new legal documents.
Early Termination (Tenant’s Request)
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s
costs in re-letting the property as well as all rent due under the tenancy until the start date
of the replacement tenancy. These costs will be no more than the maximum amount of rent
outstanding on the tenancy.
Landlords
· 1st month management FREE OF CHARGE.
· Management service 12% of the monthly rent that is collected plus VAT for UK residential landlords
· Management service 14% of the monthly rent that is collected plus VAT for overseas landlords
· Rent collect only service 5% of the monthly rent that is collected plus VAT
· Prior to marketing of the property, a payment of £288.00 (£96 inc VAT per Applicant & Guarantor) would be required to cover referencing of potential applicants and guarantor(s) if required. (See bank details below)
· Letting service 4 weeks rent +VAT subject to a minimum of £900 inc VAT
· Inventories: Landlord pays for Check in and Check out inventory. Current cost £180 inc. VAT for each report.
· For obtaining estimates of repairs and arranging works over £150 inc VAT a fee of 15% of the cost of the works will be charged. We do not charge a fee for arranging repairs costing under £150 inc VAT.
· Deposit lodging fee £36 inc VAT
· Issuing Form 6A Notice (Section 21) £180 inc VAT
· Tenancy renewals £180 inc VAT for 12 month tenancies, £90 inc VAT for 6 month tenancies
· Arranging gas and electrical inspections, EPC’s and chimney sweeping at £30 inc VAT per service, per property plus contractors cost
· Redirection of mail overseas cost of postage plus a £12 admin fee inc VAT
· Faxes and overseas telephone calls £24 inc VAT up to 15 minutes
· Dealing with insurance claims for properties under management. A fee to deal with the claim will be charged at £25 per hour inc VAT
· Court appearances. Hourly rates to be charged based on time and travel.
· Copies of statements £6 per statement ordered inc VAT. Annual statement for all rents received to aid tax returns £42 inc VAT
· Overseas tax administration charges without FICO approval £90 per quarter inc VAT
· Additional visits of property outside agreed terms of management £60 per visit inc VAT
· Where Ibbett Mosely have found a tenant and terms have been agreed and the landlord withdraws from negotiations a fee of 2 weeks rent will be charged.
