Landlord Fees

Property Management Service

Tenancy set up fee.

The Tenancy set up fee includes marketing, accompanied viewings, negotiation of tenancy terms, preparation of the tenancy agreement and required paperwork, notifying utility companies, handing out of keys and prescribed information at the commencement of a tenancy. 60% of one months rent with a minimum fee of £600 inclusive of VAT.

Example –

Rent – £1000
Set up fee – £500
VAT – £100
Total cost – £600 

Monthly management fee. (percentage of the monthly rent) 

This monthly fee covers the on-going management of the tenancy, this includes collection of rent, transfer of funds, monthly email statements, arrangement of works, regular inspections with photographic report, chasing rent (if required), issue of end of tenancy and non-compliance with terms notice by post and/or email, 12% inclusive of VAT of the gross rent before deductions.

Example –

Rent – £1000
Monthly management fee – £100
VAT – £20
Total cost – £120

Full Managed Service Index

(All charges are inclusive of VAT)

The below index of services is variable on the circumstances of your tenancy. We will always advise you of which services would be applicable and when.

AST and contract renewal fee. This includes negotiation of tenancy terms, preparation of new tenancy agreement and required paperwork, £150.

Additional property visits. Where a visit is required and/or requested over the regular property inspections, a fee will be incurred, £60.

Administration of EPC. A property must have an EPC in place or ordered prior to marketing. The fee covers instruction of a Domestic Energy Assessor to produce an EPC, £90.

Legal and court fees. Where a member of the homes4u team is required at Court on the landlords behalf, £100 for preparation of documentation, then £115 per hour to attend.

Legal notices. To serve notices to tenants such as S13 rent increases or S8 eviction notices. The hand delivery issue of end of tenancy and non-compliance with terms notices by a member of the homes4u team with photographic evidence, £60.

Keys/fob administration. Arrange additional security fobs/keys and posting back of keys where property is withdrawn or sold, £20 plus cost of keys/fobs.

Inventory/Check in. A professional, detailed photographic inventory will be prepared by our team recording the condition of the property and its contents. £150.

Project Management. Fee for overseeing major works and refurbishment projects, 10% of cost of total works.

Pre-tenancy withdrawal. To cover administrative and marketing costs should a property be withdrawn when tenants have been found, £90.

Registration of Tenancy deposit. We protect managed deposits with MyDeposits. The fee covers registering tenancy details and providing tenants with the Deposit Certificate and Prescribed information, £60.

Preparation and application of licenses. Where a mandatory license is required, fee covers the preparation of documentation and application of the license, £150.

Rent Guarantee. Arrangement of a rent guarantee policy, which will guarantee your rent. Under the service we will carry out any required midterm adjustments to the policy, deal with the serving of section notices should we need to evict the tenant and complete all administration required in the event of a claim. £300.

Sales service (includes sale to a tenant in situ). Please refer to sales service agreement for breakdown of inclusions, 1.5 % of sales price to a minimum fee £2400.

Safety Checks. Cost of safety checks such as Gas Safety Checks and Electric safety certificates, charged at cost.

Statements. Preparation of income and expenditure for tax purposes including non-resident landlords, £36 per statement.

Supervision of works. Arrangement and supervision of works by homes4u approved professional tradesperson, 10% of cost of total works.

Tenancy deposit dispute resolution. At the end of a tenancy should a dispute be raised with the Independent Redress a handling fee will become due, £150.

Termination fee. Where tenants are in-situ on a fixed-term or periodic tenancy, or where a future tenancy agreement has been signed but not yet commenced. 120% of 1 months rent, plus fees due for the duration of the tenancy.

Tenancy referencing (per reference). A professional referencing company will be employed to undertake financial credit checks, obtaining current/past landlords references, employment references and any other relevant information to assess affordability. Also includes initial Right to Rent checks of all tenants over the age of 18, £60 per reference.

Independent redress provided by The Property Ombudsman
Client Money Protection by Client Money Protect

Let Only Service

Tenancy set up fee. The tenancy set up fee includes marketing, accompanied viewings, negotiation of tenancy terms, preparation of the tenancy agreement and required paperwork, notifying utility companies, handing out of keys at tenancy start. 90% of one months rent with a minimum fee of £660 inclusive of VAT.

Example –

Rent £750
Set up fee £562.50
VAT £112.50
Total cost £675

Rent collection – This is a monthly fee to cover collection and remittance of rent. The fee includes chasing non-payment of rent if required and initial advice on rent arrears. Also applicable where homes4u collect advanced rent for the duration of the tenancy, 8% inclusive of VAT of the gross rent before deductions.

Example –

Rent £750
Rent collection £50
VAT £10
Total cost £60

Let Only Service Index

(All charges are inclusive of VAT)

Administration of EPC. A property must have an EPC in place or ordered prior to marketing, the fee covers instruction of a Domestic Energy Assessor to produce an EPC, £90.

Inventory. A professional, detailed photographic inventory will be prepared by our team recording the condition of the property and its contents, £200.

Keys/fobs administration. Posting back of keys where property is withdrawn or sold, £20.

Pre-tenancy withdrawal. To cover administrative and marketing costs should a property be withdrawn when tenants have been found, £90.

Statements. Preparation of income and expenditure for tax purposes including non-resident landlords, only available with rent collection service. £36 per statement.

Tenancy referencing (per reference). A professional referencing company will be employed to undertake financial credit checks, obtaining current/past landlords references, employment references and any other relevant information to assess affordability. Also includes initial Right to Rent checks of all tenants over the age of 18, £60 per reference.

Independent redress provided by The Property Ombudsman 
Client Money Protection by Client Money Protect

For further information see our Letting Services page.

September 2019 ©homes4u group ltd