FEES AND SERVICES - A LANDLORDS GUIDE
This guide has been produced to inform prospective Landlords of the procedures and requirements that relate to a typical tenancy, and of the fees, charges and commissions that may apply.
Let Only Service £840.00 (Includes VAT).
This includes the following: -
· Agree the market rent and find a tenant(s) that meet the Landlords criteria.
· Provide guidance on any works required and compliance issues
· Carry out accompanied viewings (as required)
· Market the property.
· Produce an Assured Shorthold Tenancy agreement for the agreed and arrange for this to be signed.
· Collection and remittance of initial month's rent received.
· Providing the tenant(s) with a method of payment.
· Deduction of any pre-tenancy invoices, fees and commissions.
· Making any HMRC deductions and providing the tenant(s) with the NRL8 (if relevant).
Additional Non-Optional Fees and Charges: Let Only Service:
· Property inspection visits (includes informing the Landlord of the outcome) - £48.00 per visit
· Land registry/proof of ownership check £12.00
· Produce an Inventory/schedule of condition (Including Photograph, meter readings £240.00
· Renewal Fee (contract negotiation, amending and updating terms, drawing up a new tenancy agreement, arranging for it to be signed and provide all necessary legal documents - £240.00
Fully Managed Service – 10.8% (Includes VAT)
Should you opt for our fully managed services, our let fee shown in section 1 above, shall be reduced to £540.00 including VAT. The % rate shown is payable per month and is a percentage of the monthly rent received.
This service includes all the areas detailed in section 1 above (Let Only Service) and the following-
· Collection and remittance of the monthly rent received.
· Produce an Inventory/schedule of condition (Including Photograph, meter readings)
· Protect the tenant(s) deposit in a Government Approved Scheme.
· Pursue non-payment of rent and provide advice on actions to be taken for rent arrears.
· Deduction of any commissions, fees and invoices for works carried out etc.
· Undertake quarterly inspection visits of the property for the first year, half yearly thereafter, inform the Landlord of the outcome.
· Arrange routine repairs (with the Landlords consent and authorisation).
· Hold keys for the duration of the tenancy (If provided)
· Check out the property at the end of the tenancy.
Additional Non-Optional Fees and Charges: Management Service:
· Additional Property inspection visits (includes informing the Landlord of the outcome) - £48.00 per visit.
· Land registry/proof of ownership check £12.00
· Service of Section 21 notice (Notice requiring Possession). £90.00
· Hourly rate for Preparation of documents for dispute adjudication or court proceedings £120.00
· Hourly rate for Attendance at court £240.00
· Renewal Fee (contract negotiation, amending and updating terms, drawing up a new tenancy agreement, arranging for it to be signed and provide all necessary legal documents - £125.00
When do you pay?
All fees and commissions due to Horizon Estate Agents Ltd are deducted from the rental payments received. Any shortfall in monies due to Horizon Estate Agents Ltd must be paid in full prior to the commencement of the tenancy or, in the case of remedial works the Landlord must put Horizon Estate Agents Ltd in funds prior to any contractors being instructed.
All fees are inclusive of VAT.
Client Money Protection (CMP)
Please note that we belong to a client money protection scheme. The company is Hiscox.
Please note that we are a member of The Property Ombudsman for Lettings Agents.
We always refer sellers to our panel of conveyancers. It is your decision whether you choose to deal with our panel of Conveyancers. Should you decide to use one of our panel of Conveyancers, you should know that we would receive a referral fee of £150 per transaction from them for recommending you to them. Our panel of Conveyances consist of Jefferies Solicitors, BTMK, Nairnsey Fisher & Lewis and Tolhurst Fisher. Should you require an Energy Performance Certificate for your property, you can arrange this yourself or alternatively we can arrange this for you however, we receive a referral fee of no more than £30.00 Should you require a Mortgage through our recommended mortgage advisor, of which there is no obligation. We will receive a commission fee, the amount of commission will depend on the size of the loan and any associated insurance products that you decide to take. Should you require our preferred contractors to carry out any work to your property, it is your decision whether you choose to use their services. We will receive a commission of no more than 10% of the cost of the works.
SHOULD YOU HAVE ANY QUESTIONS ON OUR FEES AND / OR OUR SERVICES PLEASE ASK A MEMBER OF STAFF.
FEES CORRECT AS OF 12th January 2022