Landlord Fees

 

Let-introduction only:

Service includes

• Advising likely rental income
• Marketing of property
• Interviewing prospective tenants
• Arranging the tenancy
• Collecting the initial rent and deposit
• Deducting any pre-tenancy invoices

 

Introduction of a tenant fee: 10% of total receivable rent + VAT (12% incl. VAT) payable at the commencement of the tenancy and will be deducted from the monies received by RE/MAX on the Landlord’s behalf.

 

Rent-Collection:

Service includes:

• Advising likely rental income
• Marketing of property
• Interviewing prospective tenants
• Arranging the tenancy
• Collecting the initial rent and deposit
• Deducting any pre-tenancy invoices
• Arranging the inventory and check-in
• Handling the deposit on the landlord’s behalf
• Collecting the monthly rent

 

Introduction of a tenant fee: 10% of total receivable rent + VAT (12% incl. VAT) payable at the commencement of the tenancy and will be deducted from the monies received by RE/MAX on the Landlord’s behalf.

AND

Rent collection fee: 2% of rent due + VAT (2.4% incl. VAT)

 

Full Management:

Service includes:

• Advising likely rental income
• Marketing of property
• Interviewing prospective tenants
• Arranging the tenancy
• Collecting the initial rent and deposit
• Deducting any pre-tenancy invoices
• Arranging the inventory and check-in
• Handling the deposit on the landlord’s behalf
• Collecting the monthly rent
• Updating utility companies and council
• Coordinating repairs
• Property inspections every half yearly
• Receiving and forward landlord’s mail

 

Introduction of a tenant fee: 10% of total receivable rent + VAT (12% incl. VAT) payable at the commencement of the tenancy and will be deducted from the monies received by RE/MAX on the Landlord’s behalf.

AND

Management fee: 5% of rent due + VAT (6% incl. VAT)

 

FEE CALCULATION:

(Example) On a 12 month tenancy with a rent of £1,000 per month:

 

Option 1: Let introduction only

 

Introduction of a tenant fee: £1,000 per month x 12 months x 10% + 20% VAT = £1,200 + VAT (£1,440 incl. VAT) payable at commencement of tenancy

 

Option 2: Rent-collection

 

Introduction of a tenant fee: £1,000 per month x 12 months x 10% + 20% VAT = £1,200 + VAT (£1,440 incl. VAT) payable at commencement of tenancy

AND

Rent collection fee: £1000 per month x 2% + 20% VAT = £20 + VAT (£24 incl. VAT) payable per month

 

Option 3: Full management

 

Introduction of a tenant fee: £1,000 per month x 12 months x 10% + 20% VAT = £1,200 + VAT (£1,440 incl. VAT) payable at commencement of tenancy

AND

Management fee including rent collection fee: £1000 per month x 5% + 20% VAT = £50 + VAT (£60 incl. VAT) payable per month

 

 

ADDITIONAL NON-OPTIONAL FEES AND CHARGES (FOR RENT-COLLECTION AND FULL MANAGEMENT):

 

Inventory report cost at commencement of tenancy:

Dependent upon the number of bedrooms, ranging from £72 (incl. VAT) for a studio/one bedroom apartment to £108 (incl. VAT) for a four bedroom property. Larger properties will be quoted on an individual basis by the independent inventory clerk. Please note that suppliers’ prices may vary. If a property has extra rooms or rooms which are excessively furnished, suppliers are likely to place additional charges.

 

Check out cost:

Dependent upon the number of bedrooms, ranging from £132 (incl. VAT) for a studio/one bedroom apartment to £168 (incl. VAT) for a four bedroom property. Larger properties will be quoted on an individual basis by the independent inventory clerk. Please note that suppliers’ prices may vary. If a property has extra rooms or rooms which are excessively furnished, suppliers are likely to place additional charges.

 

Renewal fee: 10% of total receivable rent + VAT (12% incl. VAT) payable upon renewal of the tenancy

(Contract negotiation, amending and updating terms and arranging a further tenancy and agreement)

 

 

OPTIONAL FEES AND CHARGES (FOR RENT-COLLECTION AND FULL MANAGEMENT):

 

Key cutting cost: £36 (incl. VAT) plus item cost

(Obtaining necessary permissions, sourcing providers and travel costs)

 

Addition property inspection: £72 (incl. VAT)

(To attend for specific requests; more visits are required to monitor the tenancy; or any maintenance-linked visit)

 

Submission of non-resident landlords receipts to HMRC: £60 (incl. VAT) quarterly

(To remit and balance the financial return to HMRC quarterly and respond to any specific query relating to the return from the landlord or HMRC)

 

Arrangement fee for works over £500: 10% of net cost + VAT (12% of net cost incl. VAT)

(Arranging access and assessing costs with contractors; ensuring work has been carried out in accordance with the specification of works, retaining any warranty or guarantee as a result of any works)

 

Deposit dispute service fee should there be an unresolved dispute and the dispute is referred to the Deposit Protection Service’s Alternative Dispute Resolution (ADR) Service: £120 (incl. VAT)

(Arranging the documents to present as evidence to the adjudicator; obtaining a signature from the oath of commissioner; travel costs)

 

Management of empty property during void periods: £120 (incl. VAT) per month

(If instructed by the landlord in writing, management of the property will continue while it is vacant. Service includes quarterly inspection, updating utility companies and the council, coordinating repairs and receiving and forwarding landlord’s posts)

 

Any other services not listed above as requested by landlord, the fee will be charged at: £72 (incl. VAT) per hour for a staff member plus cost or £180 (incl. VAT) per hour for a manager/director plus cost

 

AMENDMENTS

RE/MAX Advantage reserve the right to change the schedule of fees and these terms of business upon providing reasonable notice in writing.