Fees for Landlords
LEVEL OF SERVICE OFFERED:
Tenant find: half of one month’s rent
Includes:
- Agree the market rent and find a tenant in accordance with the landlord guidelines
- Market the property
- Carry out accompanied viewings
- Provide tenancy agreement
- Collect and remit initial month’s rent received
- Agree collection of any shortfall and payment method
- Provide tenant with method of payment
- Deduct any pre-tenancy invoices
Rent collection: 8% of rent
Includes:
- Collect and remit the monthly rent received
- Deduct commission and other works
- Pursue non-payment of rent and provide advice on rent arrears actions
Fully managed: 10% of rent
Includes:
- Ensure there is a working smoke alarm on each floor of the property and a carbon monoxide alarm in any room used as living accommodation which contains a fixed combustion appliance (excluding gas cookers).
- Organise inventory
- Check-in tenant
- Collect and remit the monthly rent received
- Deduct commission and other works
- Advise all relevant utility providers and council of changes
- Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme
- Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy
- Pursue non-payment of rent and provide advice on rent arrears actions
- Undertake regular inspections and notify landlord of the outcome
- Arrange routine repairs and instruct approved contractors
- Hold keys throughout the tenancy term
- Agree with tenant check out date and time appointment
- Organise check-out report
- Negotiate deposit allocation
- Return deposit as agreed with landlord and tenant to relevant parties
- Remit any disputed amount to Scheme for final adjudication
- Unprotect security deposit
- Instruct contractors; obtain quotes; organise repairs/replacement/cost of any broken or missing items
Fully managed for licensed House in Multiple Occupation (HMO): 12% of rent
In addition to the above:
- Ensure that the HMO licence conditions are met
- Undertake four inspections per annum
- Display gas safety certificate, EPC and front page of licence in property
- Provide gas safety certificate to Council
- Arrange engineer to test fire detection system and emergency lighting system annually
- Arrange gardening and cleaning of communal areas
ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE):
Referencing fees for tenants and guarantors: referencing company charge
Identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability.
Setup Fee: £275.00
- Agree the market rent and find a tenant in accordance with the landlord guidelines
- Advise on refurbishment
- Provide guidance on compliance with statutory provisions and letting consents
- Market the property
- Carry out accompanied viewings (as appropriate)
- Advise on non-resident tax status and HMRC (if relevant)
- Contract negotiation
- Provide tenant with a copy of the How to rent guide, the property’s EPC, gas safety certificate and electrical conditional report
- Provide tenancy agreement
- Provide a guarantor agreement (if relevant)
Inventory make / inventory update
Contact Frank Zhu Lettings for independent inventory clerk's charges
Arrangement Fee for works / refurbishments over £300.00: 10% of net cost
- Arrange access and assessing costs with contractor
- Ensure work has been carried out in accordance with the specification of works
- Retain any warranty or guarantee as a result of any works
Arrangement Fee for an Energy Performance Certificate: £30.00
Arrangement Fee for an electrical installation condition report: £30.00
Arrangement Fee for installing smoke alarms: £30.00
Arrangement Fee for installing carbon monoxide alarms: £30.00
Arrangement Fee for fire detection and alarm system certificate: £30.00 (if applicable)
Obtaining more than two contractor quotes: £50.00 per quote
Renewal Fee: £80.00
- Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
- Review rent in accordance with current prevailing market condition and advise the landlord
- Direct tenant to make payment change as appropriate
Check-out fee (if applicable): £60.00
Check-out report fee (if applicable): Charged by the independent inventory clerk
Attend the property to provide a check-out report based on the original inventory.
Deposit Single Claim: £60.00
Arrangement Fee for valuations: £30.00 per valuation
Serving notice: £60.00
Court Attendance: £100.00 for two hours
Redress scheme : Property Redress Scheme
Client money protection scheme: Client Money Protect
Professional indemnity insurance: Simply Business.
Frank Zhu Lettings do not charge VAT.