LANDLORD CHARGES
Letting Service - 12% of the annual rent (paid in advance)
ALL PRICES ARE INCLUSIVE OF VAT
Marketing of the property including professional photography, a floor plan and advertising of the property on internet property portals and the Tavistock Bow website
Accompany all viewings with prospective tenants− Communicate offers received and negotiate terms between the Landlord and prospective tenant− Obtain references for each tenant once an offer has been accepted.
Provide advice on current legislation and the Landlord’s legal obligations
Instruct an inventory clerk to prepare the Inventory and a Schedule of Condition*
Prepare and execute a comprehensive Tenancy Agreement*
Arrange professional cleaning of the premises if necessary*
Collect the initial month’s rent from the Tenant
Collect the Deposit which is usually equivalent to six weeks’ Rent and register with the Tenancy Deposit Service*
Letting & Rent Collection Service - 15% of the annual rent (paid monthly)
In addition to the Letting Services Tavistock Bow will also undertake the following:
Collect the monthly rent from the Tenant
Transfer the rent to the Landlord
Pursue any non-payment of rent
Fully Managed Service 18% of the annual rent (paid monthly)
In addition to the Letting & Rent Collection Services Tavistock Bow will also undertake the following:
Hold a set of keys throughout the tenancy
Pay outgoings such as ground rent, service charges, maintenance charges or similar contributions from the monthly rent received
Deal with day-to-day management matters, including minor repairs
Instruct tradesmen to carry out any maintenance, repairs or other work on your behalf (subject to approval of quotes by the Landlord)
Hold a management ‘float’ deducted from the rent received to pay for emergency repairs if necessary
Prepare a monthly account for the Landlord
Make periodic inspections of the property during the tenancy
Negotiate between Landlord and Tenant any deductions for dilapidations prior returning the deposit at the end of the term
*Additional non-optional fees & charges (irrespective of level of service)
Tenancy Agreement & Deposit fee £210
The cost for the preparing the tenancy agreement and registering the deposit with the Tenancy Deposit Service
Renewal Tenancy Agreement & Deposit fee £90
The cost for the preparing the revised tenancy agreement and re-registering the deposit with the Tenancy Deposit Service
Inventory & Schedule of Condition Fee from £144
Cost varies dependent on the size of the property
The cost of the drawing up of an inventory to be used for the check-in and check-out at the start and end of the tenancy plus the cost of the inventory check out (The tenant is liable for the cost of the check-in)
Where a property is unfurnished, a Schedule of Condition is still required
Inventory Check-Out from £158.40
Cost varies dependent on the size of the property
The cost of an inventory clerk to attend the property at the end of the tenancy to check the inventory and schedule of condition and to prepare a report to identify any necessary deductions from the deposit
Annual Gas Safe Inspection from £112.50
Portable Appliance Testing (PAT) from £58.80
Cost varies dependent on number of appliances that require testing
Renewal Commission Fee 8.4% of the monthly rent
Review the current rent and advise on the most suitable rent for the
renewed term
Negotiate the new term and revised rent with the tenant
Preparation and administration of claims against the deposit £180
This is only charged where we do not manage the property
Service of Notices £180
Issuing a notice to terminate the Tenancy when we are not managing the property
Preparation of documentation for disputes – £240 (plus reasonable expenses)
Preparation of documentation for use in County Court proceedings or TDS adjudication
Attendance at court or any tribunal on your behalf £600 per half day (plus reasonable costs and expenses)
Annual rent Summaries £60
Duplicate statements can be provided to you or your accountant –
£12 per statement or £144 for all the statements covering a tax year
Hard copy monthly statements £22 per month
Additional Property visits during the tenancy £42 per visit
Rent protection scheme £180 per annum
Tenant Charges - ALL PRICES ARE INCLUSIVE OF VAT
BEFORE YOU MOVE IN:
Set up fee £210
Referencing (identity, immigration and visa confirmation, 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 tenancy and agreement
Guarantor Fee £60 per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement
Accompanied Check-in Fee £150
Carrying out the inventory check in at the property and taking meter readings for utilities and services
DURING THE TENANCY:
Renewal Fee £90
Contract negotiation, amending and updating terms and arranging a further tenancy, preparation and execution of the Tenancy Agreement
OTHER FEES AND CHARGES:
Unpaid Rent / Returned Payments Interest at 3% above Bank of England Base Rate from date due
Professional Cleaning (if required) from £166.80
Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.
Charges to be agreed with tenant in advance
Cleaning charges will be deducted from the security deposit prior to return
SHOULD YOU HAVE ANY QUERIES IN RELATION TO OUR FEES AND CHARGES PLEASE FEEL FREE TO CONTACT US IN ORDER TO DISCUSS
Tavistock Bow has Client Money Protection. We are members of The Property Ombudsman Redress Scheme.
Tavistock Bow
