Our Fees and Charges
Landlord Fees Schedule
|Levels of service offered|
|Innovate tenant Find Fee: £395 (inc. VAT)||Innovate fully managed: 10% of rent (inc. VAT)||Infinity fully managed: 15% of rent (inc. VAT)|
|Agree the rental value||✔||✔||✔|
|Provide guidance on compliance with statutory provisions and letting consents||✔||✔||✔|
|Advise on refurbishment requirements||✔||✔||✔|
|Erect board outside property in accordance with Town and Country Planning Act 1990 (where possible)||✔||✔||✔|
|Market the property and advertise on relevant portals||✔||✔||✔|
|Carry out accompanied viewings (as appropriate)||✔||✔||✔|
|Advise on non-resident tax status and HMRC (if relevant)||✔||✔||✔|
|Collect and remit initial months’ rent||✔||✔||✔|
|Provide tenants with method of payment||✔||✔||✔|
|Deduct any pre-tenancy invoices||✔||✔||✔|
|Make any HMRC deduction and provide tenant with the NRL8 (if relevant)||✔||✔|
|Advise all relevant utility providers of any changes)||✔||✔|
|Provide legal cover for the first 12 months of the tenancy subject to a satisfactory Innovate reference||✔||✔|
|Demand, collect and remit the monthly rent||✔||✔|
|Provide legal cover and rent guarantee under the Infinity product subject to a satisfactory Infinity reference||✔|
|Pursue non-payment of rent and provide advice on rent arrears actions||✔||✔|
|Undertake quarterly routine visits per annum and notify the outcome to the landlord||✔||✔|
|Arrange routine repairs and instruct approved contractors (providing quotes if required)||✔||✔|
|Security Deposit dilapidation negotiations||✔||✔|
|Hold keys throughout the tenancy term||✔||✔|
Additional non-optional fees and charges
Pre-tenancy fees (all service levels)
- Arranging and facilitating statutory compliance (this is in addition to the costs of the item itself) if not provided on instruction or undertaken by the landlord:
- Energy Performance Certificate (EPC) £45 (inc. VAT) per tenancy
- Gas Safety Certificate (GSR) £65 (inc. VAT) per tenancy
- Electrical Installation Condition Report (EICR) £180 (inc. VAT) per tenancy
- Portable Appliance Testing (PAT) £72(inc. VAT) for up to 15 items then £3 (inc. VAT)per item thereafter per tenancy
- Legionella Risk Assessment £72 (inc. VAT) per tenancy
- Installing Smoke alarms £60 (inc. VAT) to include call out charge and one smoke alarm, each smoke alarm thereafter charged at £6 (inc. VAT)
- Installing Carbon Monoxide detector alarm £78 (inc. VAT) to include call out charge and one alarm, each Carbon Monoxide detector alarm thereafter charged at £24 (inc. VAT)
- Testing Smoke alarms and Carbon Monoxide detectors on the first day of the tenancy £0 (inc. VAT) per tenancy However should a BS5839 be required the cost will be £93.60 (inc. VAT)
- Handling local authority licensing application £50 (inc. VAT) per tenancy
- Visual check in compliance with the Homes Act 2018 on the first day of the tenancy £0 (inc. VAT) per tenancy/p>
Start of tenancy fees
Set-up Fees: £250 (inc. VAT) per tenancy. Referencing for up to two tenants (ID checks, Right-to-Rent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.
Additional Tenant Referencing Fees: £75 (inc. VAT) per tenant. As Set-up Fees above for additional tenants.
Guarantor Fees: £50 (inc. VAT) per guarantor. Covering credit referencing and preparing a Deed of Guarantee (or as part of the Tenancy Agreement).
Permitted Occupier Fees: £50 (inc. VAT) per permitted occupier. Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord.
Deposit Registration Fees (where collected):£0 (inc. VAT) per tenancy. 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 the tenancy start date.
Inventory Fees: £0 (inc. VAT) Dependant on the number of bedrooms and/or size of the property and any outbuildings.
Accompanied Check-in Fees: £0 (inc. VAT) per tenancy. Attending the property to welcome the tenant(s), confirm the Inventory and Schedule of Condition,highlight the location of utility meters, stop-cocks etc. and test that all smoke alarms and carbon monoxide detectors are present and in working order. This is subject to an approved Inventory as above.
Landlord Withdrawal Fees (before move-in): £0 (inc. VAT) per tenancy. To cover the costs associated with the marketing, advertising and tenancy set-up should the landlord withdraw from the tenancy before it has started.
Keys & Alarms - If we are not provided with the necessary number of keys 3 sets /entry fobs/ parking permits/ parking discs/ barrier remotes/ alarm key codes etc we will charge £20.00 (inc. VAT) plus the cost of the item and/or contractors fee and the landlord is liable for any further fees/costs incurred by the new tenant as a result of not providing.
During tenancy fees
Additional Property Visits: £10 (inc. VAT) per visit. Should the landlord request property visits in addition to those within their existing Terms of Business, this covers the costs of attending the property.
Rent Review Fees: £0 (inc. VAT) per tenancy. Review rent in accordance with current prevailing market conditions and advise the landlord, negotiate with the tenant(s), direct tenant(s) to make payment change as appropriate, update the tenancy agreement and serve a Section 13 Notice if the tenancy is on a periodic basis.
Renewal Fees: £100 (inc. VAT) per tenancy. (Tenant Find Only) £0 (inc. VAT) for fully managed. Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.
Right-to-Rent Follow-Up Check: £10 (inc. VAT) per check. Undertaking a repeat check in person on a time-limited visa in accordance with the Immigration Acts 2014 and 2016. Notifying the Home Office should an illegal overstayer be identified. This does not apply to a Tenant-Find service.
Landlord Withdrawal Fees (during tenancy): £0 (inc. VAT) per tenancy. To cover the costs associated with advising the tenant on the change and the position of the security deposit, transferring the security deposit to the landlord or new agent, notifying all utility providers and local authority (where necessary) and returning all relevant documents held by the agent to the landlord. This does not apply to a Tenant-Find service.
Arrangement Fees for works over £0 0% of net cost (inc. VAT). Arranging access and assessing the costs with any contractors, ensuring work has been carried out in accordance with the Specification of Works and retaining any resulting warranty or guarantee. Fully Managed service only.
End of tenancy fees
Check-out Fees: £50 (inc. VAT) per tenancy.(Tenant Find Only) £0 (inc. VAT) For fully managed Service. Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
Tenancy Dispute Fee: £50 (inc. VAT) per tenancy. (Tenant Find Only) £0 (inc. VAT) For fully managed Service. The costs associated with the preparation of all evidence and submitting the case to the tenancy deposit scheme as well as dealing with all correspondence relating to the dispute. This only applies where the agent has protected the deposit.
Fees for the service of Legal Notices (Section 8 or Section 21): £0 (inc. VAT) per Notice.
Court Attendance Fees: £25 (inc. VAT) per hour.
Interest on Unpaid Commission: 0% from due date until paid.
Contractor Commission: 0% of contractors invoice (inc. VAT). To cover the costs associated with arranging and facilitating the visit of a vetted professional tradesperson.
Submission of Non-Resident Landlords receipts to HMRC £0 (inc. VAT) quarterly. To remit and balance the financial Return to HMRC on both a quarterly and annual basis.
Additional HMRC Reporting Fees: £0 (inc. VAT) per request. Responding to any specific queries relating to either the quarterly or annual Return from either the landlord or HMRC.
Fees for providing an Annual Income and Expenditure Schedule: £0 (inc. VAT) annually.
Same-Day Payment Fees: £0 (inc. VAT) per payment. Should the landlord request a payment faster than the agreed timescales within their existing Terms of Business, this covers the costs of providing a same-day payment service.
Foreign Curreny Payment Fees: £30 (inc. VAT) per payment. Should the landlord request a payment to be made in a currency other than that which is agreed within their existing terms of business, this covers the costs of providing a payment in another currency.
OTHER FEES AND CHARGES
Arrangement Fees for refurbishments over £0 0 % of net cost (inc. VAT). Arranging access and assessing the costs with any contractors, ensuring work has been carried out in accordance with the Specification of Works and retaining any resulting warranty or guarantee.
Obtaining more than two contractor quotes: £0 (inc. VAT) per quote. Fully Managed service only.
Vacant Property Management Fees: £10 (inc. VAT) per visit. To cover the costs associated with visiting the property to undertake visuals checks on the inside and outside at a frequency mutually agreed with the landlord.
Management Take-over Fees: £0 (inc. VAT) per tenancy. To cover the costs associated with taking over the management of an ongoing tenancy, ensuring all statutory compliance has been undertaken, confirming everything under “Set-up Fees” above, receiving and protecting the security deposit and providing all necessary legal documentation to the tenant.
Deposit Transfer Fees: £0 (inc. VAT) per deposit. Should the landlord request any changes to a protected deposit during a tenancy, this covers the costs associated with legal compliance for said request.