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Fees

LANDLORD FEES

Residential letting services

  • Let only- 12% of the term rent payable at the start of the tenancy (inc VAT)
  • Rent collect- Initial set up fee £300 (inc VAT) and 14% of the term rent (inc VAT)
  • Managed- Initial set up fee £300 (inc VAT) and 16% of the term rent (inc VAT)

What is the set-up fee for

For those services that the set-up fee is applicable to it includes the following:

  • Advice and assistance in preparing the property to let
  • Advice and assistance on compliance such as lettings consents, insurance, tax
  • Photography and floor plans
  • Advertising and marketing to find a tenant in accordance with the terms of business including accompanied viewings
  • Erecting a board outside the property in accordance with Town and County Planning Act
  • Administration of setting up files, accounts for the property and client

Additional fees and charges (applies to all levels of service unless specified)

  • Deposit Registration fee (applicable to Let Only service upon a tenancy becoming periodic) £60 (inc VAT). This fee is taken by Butler Sherborn to continue holding the deposit in accordance with the tenancy deposit scheme requirements.
  • Renewal fee (landlords share) £120 (inc VAT). This includes contract negotiation, amending and updating terms and preparing a new tenancy agreement.
  • Vacant property service (applicable to Let Only service and Rent Collect service) £60 (inc VAT) per month. This is to visit the property during vacant periods to comply with the landlords insurance.
  • Arrangement fee for substantial works or refurbishment 18% (inc VAT) of the cost of works. This includes arranging access and assessing costs with a contractor, ensuring work has been carried out in accordance with the specification and retaining any guarantee or warranty as a result of the works
  • Duplicate documents £24 (inc VAT)
  • Preparing and serving notices (applicable to Let Only service and Rent Collect service) £90 (inc VAT)
  • Any accounts not settled within 30 days from the date of invoice will be subject to penalty interest. Interest will be charged (both before and after judgement) on any outstanding sums at 4.8% over the Handelsbanken base rate (accrued on a daily basis) until the outstanding sums are paid in full.
  • In the event a client withdraws the property from the market within our sole agency period and prior to being let being an agreed the sum of £300 (inc VAT) will be levied a as contribution towards costs.

Inventories, gas safety certificates, electrical inspections, PAT testing, legionella risk assessments and any other requirements that may be applicable will be discussed at the market appraisal, our fully trained Lettings Managers will advise what your property requires and the cost of such works is quoted on an individual basis depending on the circumstances, such as the size of the property or amount of work required.

TENANT FEES

Before you move in

  • Set up fee (tenants share)- An amount equivalent to 24% (inc VAT) of one month’s rent with a minimum fee of £360.00 (inc VAT). The services we charge the set-up fee for include referencing tenants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current employers/landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement and all associated administration.
  • Guarantor fee- £60.00 (inc VAT) per guarantor if required. This fee covers the credit referencing and all associated administration of an additional applicant as well as preparation of a deed of guarantee in addition to the tenancy agreement.
  • Pet deposit- Returnable additional security deposit is by negotiation dependant on the circumstances such as the number and type of pets and whether the property is furnished or unfurnished to cover the added risk of property damage. This will be protected with security deposit in a government-authorised scheme and may be returned at the end of the tenancy.

During your tenancy

  • Written rent reminder- £24.00 (inc VAT). This fee is taken if the rent is not paid within seven days of the due date and we then have to send a written reminder, charges apply to each and every reminder that is sent.
  • Tenancy amendment fee- £90.00 (inc VAT). Amending and updating terms.
  • Renewal fee (tenants share)- £120 (inc VAT). Contract negotiation, amending and updating terms and arranging a further tenancy and agreement.

Ending your tenancy

Check out fee - this fee is for the inventory clerk to attend the property and undertake an updated schedule of condition based on the original inventory and producing a check out report.

The fee scale as is follows:

  • Monthly rent of between £100-£999 check out fee = £175 inc VAT
  • Monthly rent of between £1000-£1999 check out fee = £250 inc VAT
  • Monthly rent of between £2000-£2999 check out fee = £325 inc VAT
  • Monthly rent over £3000 check out fee = £400 inc VAT

Other fees and charges

  • Use of master key- £60.00 (inc VAT). This fee is charged if a tenant locks themselves out and we have to use the master key to regain entry for them.
  • Late return of keys- £60.00 (inc VAT). If the keys are not returned in time for the check-out appointment at the end of the tenancy but are returned late, prior to the locks being changed at the property this fee will apply. If the locks have to be changed the landlord will seek to have the cost deducted from the deposit.
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