Tenant
· Administration £180.00 + VAT per tenant
· Renewal of tenancy £60.00 + VAT per tenant
· Inventory check out fee £80-130 depending on size of property
Landlords
FIND TENANT ONLY
7% PLUS VAT
Initial inspection, if requested, to advise on rental value and any repairs or furnishings that should be provided prior to letting. Viewings will be accompanied where we hold keys. Advertisements will be placed in various publications including the internet. Once tenants are found, references will be taken and their backgrounds checked. An agreement will be prepared between you and the tenant and will include a deposit of at least one months rent, to be held by us as stakeholders. A charge of £100 plus VAT is made for the agreement. An inventory of contents should be prepared to include service readings. We can arrange for this to be done, the charge depends on the size of property and amount of contents. We collect initial monies and deduct our fees for the period certain on the agreement. If tenants stay beyond that time we account to you quarterly in arrears up to a maximum period of twelve months. Future rents are paid direct to Landlord. In the event of non payment of rent we should be contacted so we may follow up any arrears with the tenant. In the event the tenant purchases the property from the landlord, a 2% fee plus VAT calculated on the sale price would be payable by the landlord on completion.
FIND TENANT AND COLLECT RENT
9% PLUS VAT
Initial inspection, if requested, to advise on rental value and any repairs or furnishings that should be provided prior to letting. Viewings will be accompanied where we hold keys. Advertisements will be placed in various publications including the internet. Once tenants are found, references will be taken and their backgrounds checked. An agreement will be prepared between you and the tenant and will include a deposit of a least one months rent, to be held by us as stakeholders. A charge of £100 plus VAT is made for the agreement. An inventory of contents should be prepared to include service readings. We can arrange for this to be done, the charge depends on the size of property and amount of contents. There is an additional charge for checking the inventory after the tenant has left. We collect all monies and deduct our fees on a monthly basis and send the balance to you or your bank as requested together with a statement to you, the landlord. In the event the tenant purchases the property from the landlord, a 2% fee plus VAT calculated on the sale price would be payable by the landlord on completion.
INCOME TAX
Where a Landlord is classed as resident abroad for tax purposes, we are assessed as managing agents under the 1970 Taxes Management Act on rental income received. Therefore we must retain funds to meet this liability. It is possible for a Landlord to offset various expenses and outgoings in respect of his property against his income tax liability. Such items include mortgage interest payable and fair wear and tear of furnishing and decorations, etc. We will release full funds where we hold an indemnity, or alternatively the landlord has been accepted under the non-resident landlords scheme by the Inland Revenue which came into force on the 6thApril 1996
FULL MANAGEMENT
10% PLUS VAT
Initial inspection, if requested, to advise on rental value and any repairs or furnishings that should be provided prior to letting. Viewings will be accompanied where we hold keys. Advertisements will be placed in various publications including the internet. Once tenants are found, references will be taken and their backgrounds checked. An agreement will be prepared between you and the tenant and will include a deposit of at least one months rent, to be held by us as stakeholders. A charge of £100 plus VAT is made for the agreement. An inventory of contents should be prepared to include service readings. We can arrange for this to be done, the charge depends on the size of property and amount of contents. There is an additional charge for checking the inventory after the tenant has left. We collect all monies and deduct our fees and any repairs/bills relating to the property on a monthly basis and send the balance to you or your Bank as requested together with a statement to you, the Landlord. We work one month in hand so as to hold funds for any repairs. In the event the tenant purchases the property from the landlord, a 2% fee plus VAT calculated on the sale price would be payable by the landlord on completion.
INCOME TAX
Read as above under FIND TENANT AND COLLECT RENT
NOTE:
We reserve the right to alter or amend our terms of business at our discretion,
although fees charged will remain fixed during the tenancy.
