Landlord Fees
Fees and Commissions
The Landlord should read the Terms of Business carefully and in particular, this Section which clearly sets out the Commission, Fees and other charges including any renewal, extension or continuation of the Tenancy either as a fixed term or a periodic tenancy which will be payable by a Landlord whether or not we are instructed to act on your behalf. Ensure you are certain of the meaning of the charges you will incur.
Sole Agency
1. By appointing us, you agree that we shall have sole agency to market the Premises for a period of four weeks. The sole agency can be terminated at the end of the fixed period by giving us two weeks’ prior written notice. If you do not terminate the sole agency it will continue until we receive your written instructions.
OR
Multiple Agency
By appointing us, you agree that we shall act on a multiple agency basis. The multiple agency can be terminated by giving us two weeks’ written notice. If you do not terminate the multiple agency it will continue until we receive your written instructions.
Basic Commission
2. You are responsible for paying our Commission as agreed including VAT when any person, company or other organisation enters into a binding contract for the occupation of the Premises where they do so as a result of:
a. a viewing conducted by us;
b. sight of any marketing or advertising material produced by us or by our instructions;
c. by way of an introduction from an existing occupier for which we have previously charged a commission; or
d. through the work of any other agent where this occurs during our period of sole agency;
This Commission remains due and payable in relation to any extension, renewal or continuation of the occupancy contract whether or not we are the effective cause of the said extension, renewal or continuation and for the period of time any such party or their assignees, subtenants or successors in title continue to reside in the Premises. Our Commission is payable whether or not we are the effective cause of the transaction. You should note that this may involve you paying Commission to two agents if you instruct another agent to find an occupier for your Premises during the period that we are instructed on a sole agency basis.
By signing this Agreement the Landlord gives us the authority to deduct our Commission, fees, expenses and any other costs from any monies belonging to the Landlord or any deductions from the Deposit agreed by the Tenant for any property owned by the Landlord where we are or were acting on the Landlord’s behalf.
VAT
3. Commission is chargeable including VAT at the prevailing rate (currently 20%). All fees contained within this Agreement are shown inclusive of VAT.
4. Basic Renewal Commission
After the initial fixed term we will charge Renewal Commission if the Tenancy is renewed at a fixed fee of £300.00 inclusive of VAT. (£250.00 + VAT)
5. Let Only Service
If we are instructed to provide a let only service, you are responsible for paying our Commission at the rate of 96% including VAT of the First Month’s Rent (80% + VAT), subject to a minimum fee of £780.00 inclusive of VAT (£650.00 + VAT) when any person, company or other organisation enters into a binding contract for the occupation of the Premises.
6. Rent Collection Service
If we are instructed to collect the rent for the Premises we will reduce our Commission for the Let Only Service to 90% including VAT of the First Month’s Rent (75% + VAT), you will have to pay us an additional commission at the Rent Collection Commission Percentage being 4.2% including VAT (3.5% + VAT) of the gross Rent, premium or other money payable throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf. If our instructions to collect the rent or other monies are terminated our Commission remains payable during our notice period.
7. Management Service
If we are instructed to manage the Premises we will reduce our Commission for the Let Only Service to 60% including VAT of the first months’ rent (50% + VAT). You will have to pay us an additional Commission at the Full Management Commission Percentage for management being 9.60% including VAT (8% + VAT), subject to a minimum management fee of £84.00 including VAT (£70.00 + VAT), of the gross Rent premium or other money payable throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf.
8. Commission Due
Our Commission payment will become due at the agreed start date of the Occupation Agreement and we will take payment from the monies paid by the Occupier of the Premises until our Commission and any other fees and disbursements have been paid. Our other fees and disbursements will be taken in full from payments made by the Occupier. Should the Occupier fail to make any agreed payments our Commission, Fees and Disbursements will still be payable by you and we will invoice you accordingly.
9. Refund of Commission
We will not make any refund of our Commission if the Tenancy terminates before the originally agreed date if for any reason, the Landlord permits the Tenant to terminate the Tenancy (apart from by use of a break clause); releases the Tenant from the their obligations specified in the Tenancy Agreement; the Tenant terminates the Tenancy early due to the actions or lack of action of the Landlord; due to an agreed surrender, repudiation, rescission, frustration or forfeiture of the lease, through any Court proceedings, or if your interest in the Premises is assigned to another party; for any period prior to the earliest date upon which the Tenant could have exercised a break clause.
10. Withdrawal from an Agreed Offer
If you instruct us to proceed with a proposed Tenancy and subsequently withdraw your instructions you agree pay the sum of £300.00 including VAT (£250.00 + VAT). This clause does not affect any statutory rights to cancel that may arise under the Cancellation Regulations. If you have a right to cancel under the Cancellation Regulations, this clause will apply if you withdraw your instructions at any time after the 14 day cancellation period, or at any time after we have received a written request for us to market the Premises.
11. Additional Services
The following Services are in addition to the above and form the subject of an additional charge.
There will be a charge of £60.00 including VAT (£50.00 + VAT) per tenant or guarantor referenced.
There will be a charge of £12.00 including VAT (£10.00 + VAT) for a Right To Rent Check per tenant or permitted occupier.
Instructing us to organise an Energy Performance Certificate on your behalf £90.00 inclusive of VAT (£75.00 + VAT).
Instructing us to organise a Gas Safety Inspection on your behalf £90.00 inclusive of VAT (£75.00 + VAT).
Instructing us to organise an Electrical Installation Condition Report (EICR) on your behalf will incur an administration fee of £30.00 including VAT (£25.00 + VAT).
Instructing us to organise a Legionella Risk Assessment on your behalf will be charged at £120.00 inclusive of VAT (£100.00 + VAT).
Preparation of an Inventory and Schedule of Condition and check-in/check-out on behalf of the Landlord by an inventory clerk will depend on the size and style of the Premises. Estimates will be given upon request. We organise these on behalf of our managed Landlords free of charge however we levy a charge of £60.00 including VAT (£50.00 + VAT) for Rent Collect or Let Only Landlords.
We can provide additional key cutting at a fee of £12.00 inclusive of VAT (£10.00 + VAT) plus the cost of the keys.
Preparation of a Deed Of Guarantee will be charged at a fixed fee of £150.00 inclusive of VAT (£125.00 + VAT).
We do not make any alterations to our standard Tenancy Agreement. We can insert any additional clauses as Special Clauses drafted by you or your solicitor at your own expense.
Preparation of a Deed Of Assignment will be charged at a fixed fee of £360.00 inclusive of VAT (£300.00 + VAT).
Preparing addenda to amend agreement terms will be charged at a fixed fee of £150.00 inclusive of VAT (£125.00 + VAT).
We can offer our Managed Landlords Rent Protection Cover and/or Legal Expenses Cover. Quotes are available upon request.
Additional property inspections deemed necessary at your request will be charged at £60.00 inclusive of VAT (£50.00 + VAT).
Instructing us to carry out a furniture and furnishings Fire Safety inspection on your behalf will be charged at £90.00 inclusive of VAT (£75.00 + VAT)
Service of Notices to terminate a Tenancy when we are not managing the Premises will be subject to an administration fee of £150.00 inclusive of VAT (£125.00 + VAT).
Instructing contractors during a void period or if we are not managing the Premises will incur an administration fee of £30.00 including VAT (£25.00 + VAT) per contractor payable in advance together with the cost of the contractor. This Service is only offered provided we have written instructions from the Landlord and hold sufficient cleared funds to cover the cost of the work plus our fees.
Should we be employed to take over the Property Management from either the Landlord or another Agent then an initial set up fee will be charged at a fixed fee of £360.00 inclusive of VAT (£300.00 + VAT) including the cost of a new tenancy agreement if required.
The signing of a Statutory Declaration in front of a Solicitor will be charged at a fixed fee of £120.00 Inclusive of VAT (£100.00 + VAT).
If we have to attend court on your behalf as a witness we will charge a fee of £300.00 inclusive of VAT (£250.00 + VAT) per attendance.