Letting and Standard Management
Letting Only
- The equivalent of 4 weeks rent
Letting and Standard Management
- The equivalent of 3 weeks rent as the letting Fee and 10% of the monthly gross rental income
- Managed Tenancy Only: Renewal £150.00
- Tenancy Agreement For Unmanaged Property £300.00
- Inventories
- To check Landlord’s personal inventory: £50.00 (unfurnished property) £50.00 (furnished)
- Standard Inventory provided by Agent: For One and Two bedroom properties – £150.00
- For Three and Four bedrooms – £175.00
- For Five Bedrooms – £200.00
- Gas Safety Inspection – By Independent Contractor
- Cost of Inspection
- EPC (Energy Performance Certificate) – By Independent Contractor
- Cost of EPC
- Electrical Safety Test – By Independent Contractor
- Cost of Test
- Fire Safety Inspection – By Independent Contractor
- Cost of Inspection
- Redirection of mail overseas:-
- Cost of postage
- Duplication &Testing of extra Keys:- – By Independent Contractor
- Cost of keys
- Non-Resident Landlord Tax: (if applicable)
- 20% of monthly rental
GENERAL AUTHORITY
INDEMINITY
MAINTENANCE
The Landlord warrants that the Property is made available in good and rentable condition and that the Property, beds, sofas and all other soft furnishings conform to the current fire safety regulations. The Landlord agrees to make the Agent aware of any ongoing maintenance problems. Subject to a retained maximum expenditure limit (UK landlords: £100, overseas landlord: £200) on any single item or repair, and any other requirements or limits specified by the Landlord, Agent will administer any miscellaneous maintenance work that need to be carried out on the Property (although the administration of major works or refurbishment will incur an additional charge).
It is agreed that in an emergency or for reasons of contractual necessity where reasonable endeavours have been made to contact the Landlord, the Agent may exceed he limits specified. The agent endeavours to select competent tradesmen at a reasonable price but is unable to personally guarantee the standard of workmanship, although the Landlord retains the right to pursue any claim for substandard work. By law, it is necessary to carry out an annual inspection and service for the central heating and any gas appliances. The Agent will cause these to be carried out on the Landlord’s behalf, expenses and administer the necessary inspection and maintenance records.
The Agent would recommend all Landlords take out a comprehensive Homeserve or British Gas Homecare agreement to cover any heating, plumbing and yearly gas safety inspections. This will give both Landlords and tenants peace of mind. As a risk assessment, we would like to draw to your attention that it costs a lot of money to carry out repairs, however, in the long run insurance usually works out cheaper.
Therefore, we would strongly advise you to contact British Gas or Homeserve for more information.
OVERSEAS RESIDENTS
When letting property and collecting rents for landlords overseas, the Agent is obliged by the Taxes Management Act (TMA) 1970 and the Taxation of Income from Land (Non –Residents) Regulations 1995 to deduct tax (at the basic tax rate) to cover any tax liability, unless the landlord has been authorised in writing by Inland Revenue to received rent gross. In this situation, the Agent also requests that the Landlord appoints an accountant or reserves to the Agent the right to employ a suitably qualified accountant in order to manage correspondence with the Inland Revenue. A standard annual charge will be made for this work and administration expenses may be charged by the Agent. For further work requested by the Landlord, the Landlord’s accountant or the Inland Revenue in connection with such tax liabilities. In many cases, landlord’s tax liability is minimal when all allowable costs are deducted.
COUNCIL TAX
Payment of Council tax will normally be the responsibility of the tenants in the Property. However, Landlords should be aware that where a property is empty, let as holiday accommodation, or let as a house in multiple occupation (HMO) responsibility for payment of council tax then rests with the owner of the property.