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© 1998 sam cain

Charges in connection with our business

INFORMATION FOR TENANTS: PROPERTIES IN ENGLAND

Relevant letting fees and tenant protection information

In addition to paying rent for the property, you may also be required to make the following permitted payments:

BEFORE THE TENANCY STARTS: 

  • Holding Deposit: 1 week’s rent; and/or

  • Deposit: 5 weeks rent (or in the case of rental income of more than £50,000 per annum 6 weeks rent).

 

DURING THE TENANCY:

  • Payments to other third parties: such as Council Tax, utilities, TV licence or payments for communications services

  • Default Charges: such as payments for the replacement of lost keys and security device or interest on overdue rent   

  • Tenancy Transaction Charges: such as requests to vary or assign the tenancy capped at £50 including VAT

  • Early Termination Charges based on the un expired term of the tenancy calculated on a pro rata basis on the amount the landlord paid in commission to us the agent.

 

TENANT PROTECTION:

sam cain is a member of UKALA which is a client money protection scheme, and also a member of PRS which is a redress scheme. You can find out more details on the agent’s website or by contacting the agent directly.

 

LANDLORD CHARGES:

 

LET ONLY SERVICE

 

9% Of Rent + VAT - Sole Agency (10.8% inc VAT) 11% Of Rent + VAT - Multi Agency (13.2% inc VAT) Fees are payable for the entire length of the tenancy - additional renewal fees apply 

INCLUDES ... 

  • Provide advice on market rent 

  • Provide advice on any refurbishment 

  • Provide guidance on compliance with statutory provisions and lettings consents 

  • Marketing and advertising the property 

  • Carrying out accompanied viewings 

  • Finding a prospective tenant 

  • Collect initial rental payment and remit to the landlord after the deduction of fees and any pre tenancy invoices  

 

RENT COLLECTION SERVICE 

9% Of Rent + VAT - Sole Agency (10.8% inc VAT)
11% Of Rent + VAT - Multi Agency (13.2% inc VAT) Fees are payable for the entire length of the tenancy - additional renewal fees apply 

INCLUDES ...


• Provide advice on market rent
• Provide advice on any refurbishment
• Provide guidance on compliance with statutory provisions and lettings consents
• Marketing and advertising the property
• Carrying out accompanied viewings
• Finding a prospective tenant
• Collect initial rental payment and remit to the landlord after the deduction of fees and any pre tenancy invoices
• Collect and remit rental payments received and send rent demands for non-payment of rent
• Provide advice of rent arrears action
• Arrange the renewal of the Gas Safety Record and deduct payment from rental received 

FULL MANAGEMENT SERVICE 

15% Of Rent + VAT - Sole Agency (18% inc VAT)
17% Of Rent + VAT - Multi Agency (20.4% inc VAT)
Fees are payable for the entire length of the tenancy - additional renewal fees apply 

INCLUDES ...


• Provide advice on market rent
• Provide advice on any refurbishment
• Provide guidance on compliance with statutory provisions and lettings consents • Marketing and advertising the property
• Carrying out accompanied viewings
• Finding a prospective tenant
• Collect initial rental payment and remit to the landlord after the deduction of 

the fee and any pre tenancy invoices
• Collect and remit rental payments received and send rent demands for non- payment of rent
• Provide advice of rent arrears action
• Arrange any works or statutory obligations as required and deduct payment from rental received or any float held
• Protect security deposit with the Tenancy Deposit Scheme (if applicable)
• Undertake one inspection visit per annum and provide the landlord with a report • Arrange routine repairs and instruct approved contractors 

ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE) 

Tenancy Agreement Fee - £180.00 (inc VAT) Preparation and drawing up of the Tenancy Agreement. 

Renewal Agreement Fee - £84.00 (inc VAT) Preparation and drawing up of the Renewal Agreement. 

Renewal Fee - As per level of service fee percentage detailed. Payable on any renewal/extension of a tenancy whether as a new fixed term or a periodic tenancy, whether or not we act as your agent to negotiate on your behalf. 

Tenancy Deposit Protection Fee - £36.00 (inc VAT) for each term of the tenancy. To register and administer the Security Deposit in accordance with the Tenancy Deposit Scheme. Assured Shorthold Tenancies only. This fee is not applicable under our Full Management Service. 

Tenant References - £15.60 per individual/guarantor (inc VAT). 

Right to Rent - If you require us to carry out a Right to Rent follow up check, there will be a charge of £78.00 (inc VAT) per individual check. This charge is not applicable under our Full Management Service. 

Staff attendance at property - £36.00 (inc VAT) per hour. If we do not manage the property and you require us to attend the property to allow access for delivery, builders, contractors etc, providing a member of staff is available. 

Additional Property Management Inspection - £90.00 (inc VAT). 

Inventories check-ins charged per size of flat at the following rates:

Studio             £96 (inc VAT)

1 Bedroom  £120 (inc VAT)

2 Bedroom  £150 (inc VAT)

3 Bedroom  £180 (inc VAT)

4 Bedroom  £220 (inc VAT)

We have negotiated with our inventory clerk that check outs are to be charged at 50% of the check in cost.

Arrangement fee for refurbishment works - 10% of net cost (+ VAT) Includes the arranging access and assessing costs with contractors, ensuring work has been carried out in accordance with the specification of works & retaining any warranty or guarantee as a result of any works if requested. 

Overseas Funds Transfer Fee - £25.00 (inc VAT) per transfer. Where a transfer of funds, including rental received on a Landlord’s behalf, is required to be made to an overseas account, this charge will be deducted from the funds to be transferred. 

CHAPS Transfer Fee - £15.00 (inc VAT) for a UK bank account. 

Abortive Cost - £500.00 (inc VAT) Where a landlord withdraws from an agreed offer, unless withdraw is due to the references on the proposed tenant/s being unsuitable, or if the tenant withdraws from the transaction prior to completion. 

ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE) 

Court Attendance - £60.00 (inc VAT) per hour. Where we may be required to appear at court or a tribunal by special agreement only. 

Management of Vacant Property (between tenancies) - If the property is vacant between tenancies and we are providing our Full Management Service, we are able to manage the property whilst it is vacant for a fee of £180.00 per month (inc VAT) from the expiry of the tenancy or until the property is let. 

Serving a Section 21 (Form 6A) - £60.00 (inc VAT) to draw up and serve a Section 21 - Form 6A. This charge is not applicable under our Fully Managed Service. 

Document Delivery - £18.00 (inc VAT) per delivery + the cost of the courier. Where we are instructed to arrange for a motorbike messenger to courier a document for delivery on the landlord’s behalf. 

Late Payment Charge - Interest at 4% above Bank of England Base Rate from date due. Where any payment is made later than 14 days after such payment falls due. 

Deposit Negotiations - £60.00 (inc VAT) per hour. If you request our services to reconcile or negotiate the damage or deductions from the Security Deposit on your behalf. This charge is not applicable under our Fully Managed Service. 

Non Resident Landlords - If you are a Non Resident Landlord and we are not in receipt of the relevant approval from HMRC, there will be a fee of £60.00 (inc VAT) per quarter for the calculation of tax retention, forwarding of monies to HMRC and providing a certificate of tax deducted.