CLIENT MONEY PROTECTION PROVIDED BY: RICS.
INDEPENDENT REDRESS PROVIDED BY:TPOs
FEES TO: LANDLORDS
Service 1: Finding a Tenant, Collecting the Rent & Full Management: 18% including VAT (15% plus VAT) of the monthly rent for the entire duration of the tenancy.
Service 2: Finding a Tenant, Collection of Rent and Accounting to you on a monthly basis: 12% including VAT (10% plus VAT) of the monthly rent for the entire duration of the tenancy.
Service 3: Tenant Find Only: 9% including VAT (7.5% plus VAT) of the gross rent of the initial term of the tenancy agreement. For example if you signed a twelve month tenancy agreement you would be charged 9% including VAT of twelve months rent. If you signed a six month agreement you would be charged 9% including VAT of six months rent.
Service 4: Parking Space or Garage Letting Service (tenant find only). Not available for residential properties under any circumstances. A set fee of £150 including VAT (£125 plus VAT). This becomes payable once the letting agreement has been signed by both parties. Once this has happened we will send you an invoice for our fee, which should be paid within seven working days
Setup Fee: £118.80 (£99 plus VAT). Deducted from your first payment. This covers tenant referencing (identity, immigration and visa confirmation, obtaining references from current or previous employers, landlords plus a character reference and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms), arranging the tenancy and agreement and supplying copies to both parties.
Extension of Tenancy and Addendum to Contracts: £43.20 (£36.00 plus VAT) To arrange an extension of any Assured Shorthold Tenancy or an Addendum to contract for any other reason, a fee of is payable. This covers contract negotiation, amending terms, issuing the addendum to contract for both parties to sign and providing copies to both parties.
Renewal fee: If a new tenancy agreement is required at any time a fee of £118.80 (£99 plus VAT) will be payable to cover contract negotiation, amending and updating terms, arranging a further tenancy and agreement and supplying copies to the landlord and tenant.
ADDITIONAL OPTIONAL FEES
Charges for work carried out that is not included in your chosen service: Including time taken on correspondence, inspection, interviews, telephone calls etc and in preparing and settling claims – £60.00 (£50 plus VAT) per hour. This charge will depend entirely on the extent of the service decided upon which will, of course, govern the time taken.
Inventories & Schedules of Condition: £60.00 (£50 plus VAT) per hour. This covers a member of staff attending the property, taking all relevant information including photographs, preparing the document for signing, obtaining signatures and supply copies to both parties.
Declaration of Surrender of Tenancy: If the landlord and tenant agree to end a tenancy before the end of a fixed term we will make a charge of £50 including VAT (£40 plus VAT) to the party making the request. This covers drawing up the required document and providing it to both parties for their signatures.
Why use Miles and Son…
We at Miles and Son have been dealing with residential lettings in the Isle of Purbeck area for many years and we understand how much there is for you, as an owner, to consider when deciding whether to rent out your property.
Regardless of which service you choose you are guaranteed prompt and professional service at all times, our promise that all potentially suitable applicants are subjected to our in house referencing procedure if they wish to apply to rent the property and the final decision over who you accept as a tenant. We also conduct all viewings, hold the damages deposit in a recognised Tenancy Deposit Scheme for the duration of the tenancy and arrange for the meter readings to be taken and the major utilities (gas, electric, water and council tax) transferred into the name(s) of the tenants.
As I’m sure you will be aware there are certain things you are required to have before you are able to rent your property to someone and we can provide you with full details of what is required as part of our free Owners Guide, we can also assist you ensuring your property is fully compliant. We are also able to draw up the required Inventory and Schedule of Condition should you wish us to, but at an additional cost.
Please note that before you can market your property for rental you must have an Energy Performance Certificate (EPC) with a minimum of an ‘E’ rating in place. In the event your epc is done and the rating is less than an ‘E’ you will be unable to market the property until the required work to raise the rating has been carried out.
To arrange your free no obligation marketing advice, request an Owners Guide or to just have a general chat about whether letting is right for you please contact our office on 01929 423333.