TENANTS FEES
| Holding Deposit (per tenancy) | One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadlines for Agreement as mutually agreed in writing). |
|---|---|
| Security Deposit (per tenancy. Rent under £50,000 per year) | Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy. |
| Security Deposit (per tenancy. Rent of £50,000 or over per year) | Six weeks’ rent. This covers damages and defaults on the part of the tenant during 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 and 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. |
LANDLORD FEES
Whether you are an experienced landlord or are looking into becoming a landlord, there are always several key benefits associated with using a professional letting agent.
When it comes to letting properties, we really are experts, our up to date legal knowledge will keep you safe against the minefield of legislation surrounding being a Landlord.
Packages For Landlords
We offer packages depending on your needs and the level of support you wish to have, from fully managed, for the less experienced or time restricted Landlord, to let only.
Our friendly team offer sensible and constructive advice on everything from asking for the correct rent to maintenance issues. We believe that all aspects of the lettings process are important and getting it right for you from the very beginning is essential.
Fully Managed inclusive of vat:
- Monthly management fee – 12.% of agreed rent
- Set up fee (new instructions only) – £550
- Subsequent re-lettings – £190
- EPC Certificate – £90
- Issuing new fixed term to existing tenant (this is discretionary and the Landlord can choose to not do it) – £75
- Landlord withdrawal fee (pre tenancy) – £275
- Landlord withdrawal fee (during tenancy, but after fixed term has expired) – £250
- Landlord withdrawal fee (during fixed term) – £250 + all management fees due for the remainder of fixed term
Letting Only (Non Managed) inclusive of vat :
Includes:
- Comprehensive market appraisal and advice on marketing the property
- Ensuring compliance with relevant legislation
- Compiling high quality particulars
- Advertising
- Carrying out viewings and interviewing tenants
- Agreeing terms between Landlord and Tenant
- Taking the holding deposit
- Carrying out right to rent checks, employment checks, existing landlord references and credit checks
- Drawing up and signing the tenancy agreement
- Taking the security deposit (but sending to the Landlord to register with DPS)
- Collecting the first months rent
*subject to a minimum fee of £550 + VAT and a £275 withdrawal fee if withdrawn by the Landlord once a holding deposit has been taken, but prior to a tenancy commencing.
Please note Spencer Jakeman Property Management Limited is a member of Client Money Protect and the Property Redress Scheme
