Landlord Fee Guide

We outline on this page a basic, quick guide and overview for Landlords, to explain what is typically involved with letting property. If you need any further information or advice, please don't hesitate to contact us.

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Letting Only Service 6% + vat (Upfront fee for the duration of the tenancy)- includes

Rental Valuation & Inspection
Advice to landlords on furnishings, health and safety issues and any maintenance recommendations.
Advice to landlords on preparing and staging properties for letting.
Ensuring compliance with ever-changing regulations, including gas, electricity, EPC, licencing and furnishing safety.
Advertising & Marketing your property on our website, UK's leading property portals, emailing and sms message details to all potential applicants along with online advertising where appropriate.
We accompany all viewings, including late night and weekend viewings.
Extensive referencing and vetting of prospects tenants/guarantors including credit checks, and right-to-rent verification, via the HomeLet platform
Preparation of the tenancy agreement/s.
Basic inventory of contents and condition report/s.
Collection of initial rent and deposit.
Setting up standing order mandate for future rent subject to tenancy commencing.
No additional and hidden charges.

Full Management 12% + vat (Monthly fee for the duration of the tenancy)

The complete service includes (all the above) plus:

A professionally prepared detailed inventory of contents and condition with photographic evidence.
Responding promptly to tenant-reported maintenance issues.
Conducting regular property inspections to ensure upkeep and compliance.
Arranging repairs and coordinating with trusted contractors.
Managing legal disputes, such as deposit disputes or breach of tenancy terms, through mediation or legal action.
Collecting rent and managing arrears.
Serving notices (e.g., Section 21 or Section 8) where necessary.
Providing landlords with regular updates on their property’s condition, rental income, and any issues.
Transfer of utility accounts, electric, gas, council tax and water.
Collecting deposits and registering them with an approved tenancy deposit protection scheme.
Advising landlords on market trends, rental valuation, and maximizing their property’s potential.
Closing inspection and check out at end of tenancy.
Organising return of deposit subject to the property being returned in a satisfactory condition.
Look to find suitable new tenants prior to expiry of the existing tenancy.

INVENTORIES

Inventory Fees ( Included with Full Management Service )

Normal rentals

£95 - Studio/1 bedroom, rising by £10 per room
£65 - Check in set price
£65 - Check-out 1 bedroom, rising by £10 per room

Student rentals Inventory
£135 - set price
£95 - Check-in set price

£130 - Check-out set price

For larger properties, please contact us for individual pricing

Item	Explanation	Cost
EPC	Energy performance certificate	£80
Gas safety certificate	Gas safety certificate	£99
Electrical Safety Certificate (EICR)	Electrical Installation Condition Report	from £179
Tenancy agreement/ Referencing	Referencing per tenant this will include (ID checks, Right to rent checks, financial checks, obtaining reference from current or previous employers/ landlord and any other relevant information to assess affordability)	£60
Guarantor Referencing	Covering credit referencing and preparing a Deed of Guarantee (Per Guarantor)	£60
Deposit registration	Register tenant's and landlord's details and protect the security deposit with a government authorised scheme (Letting Only Service)	£40
Additional property visits	To make specific visits to the property on the landlords behalf (All service levels)	£50 per visit
Tenancy renewal fee	Contract negotiation, amending and updating a further tenancy and agreement (All service levels)	£250
Section 21 notice	Requiring possession of the property - Letter/ notice to tenant (All service levels)	£79
Contractors Commission	10% of contractors invoice. To cover the costs associated with arranging and facilitating the visit of a vetted professional tradesperson	10%

All fee above are subject to VAT

CONSENT TO LET

If the landlord has a mortgage, it is normal for mortgagees to require notification of any proposed lettings and the landlord should seek their initial consent. In the case of leasehold premises the consent of the Head Lessee of Freeholder will be required. The landlord should also advise his insurance company of the proposal to let the property as this could either invalidate the insurance altogether or increase the premiums. You should obtain written documentation of these consents prior to letting.

UTILITIES

The tenant will be responsible for the payment of gas, electricity, water, telephone, council tax and television licence. (Unless otherwise agreed and stated)
As the landlord you are still responsible for the payment of service charges and ground rent in leasehold properties and buildings insurance on Freehold properties.

TAX

Under the Taxation of income from Land (non residents) Regulations 1995, the rent receiving agent (or where there is no agent, the tenant) will be required to deduct an amount equivalent to Basic Rate Tax from the rent (after taking deductible expenses paid by the agent into account) and pay the balance to the Inland Revenue each quarter.

However, the overseas landlord can apply to the Inland Revenue for exemption from this requirement. Provided the landlords tax history is good and tax affairs are up to date, the overseas landlord will be issued with a certificate that will be sent to his rent receiving agent. This will authorise the agent to pay the rent to you with no tax deducted.

We can provide you with an NRL1 form which you must complete and send to the Inland Revenue. Neither your rent receiving agent nor your tax advisor can file this application for you - it must be done by you.
Failure to return this form in time may result in the exemption certificate not being issued before the payments become due. We would have no alternative but to make the required tax deduction before paying the rents to you.
Our company are not tax advisers so if you are unsure as to how the above will affect you, you would be advised to speak to an accountant or professional tax advisor.

Any Non resident Landlord Tax payments deducted by us, in the first quarter can be refunded, if the exemption certificate is in our possession before the first quarter has ended. Any deductions after the first quarter can only be reclaimed after the first year has ended. Any refunds due after the first quarter are made by the Inland Revenue.

TENANCY AGREEMENTS

Most tenancies are classed as Assured Shorthold Tenancies. Under the Housing Act 1998 (as amended 1996) landlords have more rights to possession than with tenancies commencing prior to the Acts and procedures for possession are now quicker and simpler (provided the process is carried out correctly).

There is no minimum period for an Assured Shorthold tenancy; however we recommend that the tenancy is for not less than six months.

Most tenancies are drawn up for a period of twelve months, some have break clauses. A break clause allows either party to terminate the agreement with two months notice after an initial period of four months the notice may be served. We will be happy to discuss the pros and cons of different time periods with you.

LEGAL MATTERS

Our staff have been trained and receive ongoing training on the various legal aspects of letting including safety regulations, tenancy agreements and clauses, possession and have vast practical experience. They will be happy to discuss any questions you may have regarding more detailed legal matters.

The relationship between Landlord and Tenant can sometimes have its "ups" and "downs" and the need for a professional agent is paramount in closing any divide to allow for a smooth and enjoyable property experience for all parties concerned, whether you are a Landlord or Tenant you are best advised to conclude your property transaction via a reputable agent.

Tenancy law is now far better regulated than ever before with balanced rights for all parties, tenants holding deposit held in Approved Scheme and are returned at the end of the tenancy subject to the property being returned in the manner it was taken and subject to there being no outstanding bills relating to utilities etc. The lettings market has grown immensely due to the increasing Buy to let market and with an increase to new build added to the marketplace the level of quality has improved greatly.

Tenant Fee Guide

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 any 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 Deadline 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 or defaults on the part of the tenant during the 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 any 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.

INSURANCE

It is the tenant's responsibility to insure their belongings throughout the tenancy. Alexanders Estate Agents highly recommend that all tenants take out some form of contents insurance to protect their belongings - TVs and gadgets, food in the freezer and the clothes in your wardrobe.

Utilities

The tenant will be responsible for the payment of telephone, gas, water and electricity accounts at the property during your tenancy, as well as the council tax. It is the tenant's responsibility to notify the relevant companies and the local authority that you are moving into/out of the property. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy. Utility companies will also always require the occupant to provide access for any visit.

Include Sold/Let Properties