Landlord Fees Fully Managed

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Hope Hunt
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1 Landlord Fees Fully Managed Fees vary depending on our 3 service levels (Fully Managed, Rent Collection, Tenant Fund) FULLY MANAGED SERVICE The SET UP FEE includes agreeing the market rent, finding a tenant in accordance with the landlord s guidelines, marketing & advertising, property boards & viewings. It also includes providing notification of non-resident tax status & making any HMRC deductions. Also included is advising on refurbishment & providing guidance on compliance with statutory provisions & letting consents. 390 MONTHLY FEE (% of the monthly rent). This is a monthly commission calculated as a % of the monthly rent, for collecting & remitting the monthly rent received, deducting commission & other works & supplying monthly statements. When necessary it includes the pursuance of non-payment of rent & providing advice on rent arrears actions. It includes 6-monthly visits & the landlord is advised of the outcome. This fee covers advising all utility providers of any tenancy changes, arranging repairs & holding the key during tenancy. DEPOSIT REGISTRATION REGISTRATION FEE. All FEE tenants deposits must be registered, by law, with a Government authorized scheme. This fee is for registering the landlord & tenant details & protecting the security deposit; then providing the tenant(s) with the Deposit Certificate & prescribed information within 30 days of the start of the tenancy. 14.4% 48 INVENTORY FEE. It is important to have a thorough & detailed inventory. This will provide a catalogue of the let property, an unbiased record of its condition & any items included in the tenancy. It forms part of the legally binding contract between the tenant & the landlord. The cost of the inventory varies dependent on the number of bedrooms & outbuildings the property has. RENEWAL FEE (LANDLORD S SHARE). If both parties agree that the tenant can stay for another term, this cost covers the contract negotiation, amending & updating the terms & arranging a further tenancy agreement. The tenant also pays a share of this fee. 114 CHECK OUT FEE (LANDLORD S SHARE). This fee covers agreeing with the tenant(s) a check out date & arranging an appointment; instructing the inventory provider to attend; negotiating with the landlord & tenant(s) any disbursement of the security deposit. To return the deposit to the agreed parties. Remit any disputed amount to the scheme for final adjudication. Unprotect the security deposit, instruct contractors, obtain quotes, organize repairs/replacement of items. The tenant also pays a share of this fee. GAS SAFETY CERTIFICATE. The Gas Safety (Installation & Use) Regulations 1998 state that all new, let & managed properties must have a gas safety certificate to start the tenancy & must be tested annually for safety. Century 21 Bedford will appoint a Gas Safe Engineer to do this & this fee covers arranging access & retaining the certificate. It does not include the cost of the certificate. ADDITIONAL CONTRACTOR QUOTES. If more than 2 contractor quotes are required by the landlord for maintenance works, this fee is charged per additional quote required.

2 FULLY MANAGED SERVICE ARRANGEMENT FEE FOR WORKS. A fee of 10% + VAT of the invoice is charged in respect of arranging the works & assessing costs with the contractor(s); for ensuring all works have been carried out in accordance with he specification of the works; processing payment & retaining any warranty or guarantee. 12% of the works invoice ANNUAL SUBMISSION OF NON-RESIDENT LANDLORDS TO HMRC This fee is charged to remit & balance the financial return to HMRC. An annual submission is also required. ADDITIONAL PROPERTY VISITS. If a routine visit (over & above the two 6-monthly visits included in the monthly fee) is required e.g. at the specific request of the Landlord, or to resolve a neighbor dispute, a fee is charged. COURT ATTENDANCE. In the unfortunate event where we might need to represent you in court e.g. if a tenant requires eviction, these fees apply. Expenses include travel, accommodation & parking if applicable. WITHDRAWAL FEE before the tenancy commences. Any actual costs incurred in the marketing & set up of the property are passed to the Landlord. WITHDRAWAL FEE after the tenancy commences. When a Landlord terminates an agreement & the tenant remains in the property. The fee includes notifying the relevant utility providers & advising the tenant of their security deposit status. DISPUTE FEE. Post check out if any proposed deductions in the security deposit are disputed by the tenant, this fee covers compiling the relevant documentation to support the Landlord s position. SPECIFIC SITE VISIT. When a Landlord requests a specific visit in order to assess a maintenance requirement. 36 /hr + expenses A max. fee of calendar month s rent (+ VAT) CONTRACTOR COMMISSION. Century 21 Bedford reserves the right to make a commission charge to any contractor instructed on behalf of the Landlord up to 14.4% (12% + VAT) of the net cost of the work. This is invoiced directly to the contractor. TAKE OVER MANAGEMENT FEE. This fee is to be charged for taking over management service from your current letting agent & will cover an AST check, a property visit, smoke alarm check & a new AST. 14.4% 360 RENT REVIEW FEE The following services are optional: SMOKE/CARBON MONOXIDE ALARMS. Arranging checks. SMOKE/CARBON MONOXIDE ALARMS. Checking on the 1 st day of tenancy. EPC. To instruct a certified engineer to carry out an energy performance certificate. 120 WATER & BACTERIAL TESTING. To book & carry outa water & bacteria test for your property. PAT & ELECTRICAL TESTING. Century 21 Bedford to appoint an EICR qualified engineer to carry out either PAT testing or a full electrical certificate. It doesn t include the cost of the certificate

3 Landlord Fees Rent Collect The mandatory fees charged for Century 21 Bedford s Rent Collect Service are set out below. The services provided in respect of these fees are as for our Fully Managed Service described above, unless otherwise stated. RENT COLLECT SERVICE SET UP FEE 390 MONTHLY MANAGEMENT FEE (% of the monthly rent). This is a monthly commission calculated as a % of the monthly rent, for collecting & remitting the monthly rent received, deducting commission & other works & supplying monthly statements. When necessary it includes the pursuance of non-payment of rent & providing advice on rent arrears actions. This fee covers advising all utility providers of any tenancy changes. 12% The following services are optional & as described for the Fully Managed Service (unless otherwise stated) INVENTORY FEE DEPOSIT REGISTRATION FEE 48 CHECK OUT FEE (Landlord s share). This fee covers agreeing with the tenant(s) a check out date & arranging an appointment; instructing the inventory provider to attend; negotiating with the landlord & tenant(s) any disbursement of the security deposit. To return the deposit to the agreed parties. Remit any disputed amount to the scheme for final adjudication. Unprotect the security deposit, instruct contractors, obtain quotes, organize repairs/replacement of items. The tenant also pays a share of this fee. GAS SAFETY CERTIFICATE RENEWAL FEE (Landlord s Share) 114 ANNUAL SUBMISSION OF NON-RESIDENT LANDLORDS TO HMRC SMOKE/CARBON MONOXIDE ALARMS. Arranging checks. SMOKE/CARBON MONOXIDE ALARMS. Checking on the 1 st day of tenancy. EPC. To instruct a certified engineer to carry out an energy performance certificate 120 ADDITIONAL RIGHT TO RENT CHECK. Further Right to Rent Checks service, payable when a repeat check is required during each tenancy for occupants with Time Limited Right to Rent 390 WATER & BACTERIAL TESTING. PAT & ELECTRICAL TESTING.

4 Landlord Fees Tenant Find For Century 21 Bedford s Tenant Find Service there is a Set Up Fee equal 9.6% (8% + VAT) of the rent for the term and there is a minimum fee of 0 ( VAT). Some examples of these fees incl. VAT at differing rent amounts & for different tenancy lengths are set out below. TENANT FIND SERVICE 12 MONTH TERM RENT PER CALENDAR MONTH ,200 SET UP FEE ,382 The set-up fee includes agreeing the market rent, finding a tenant in accordance with the landlord s guidelines, marketing & advertising, property boards & accompanied viewings. It also includes providing notification of non-resident tax status & making any HMRC deductions as well as providing the tenant with an NRL8 (if applicable). Century 21 Bedford collects & remits the 1 st month s rent received, deducting commission & other works & supplies a statement. This fee covers advising all utility providers of any tenancy changes. The following services are optional & as described for the Fully Managed Service (unless otherwise stated). INVENTORY FEE DEPOSIT REGISTRATION FEE 48 CHECK OUT FEE (Landlord s Share). This fee covers agreeing with the tenant(s) a check out date & arranging an appointment; instructing the inventory provider to attend; negotiating with the landlord & tenant(s) any disbursement of the security deposit. To return the deposit to the agreed parties. Remit any disputed amount to the scheme for final adjudication. Unprotect the security deposit, instruct contractors, obtain quotes, organize repairs/replacement of items. The tenant also pays a share of this fee. GAS SAFETY CERTIFICATE RENEWAL FEE (Landlord s Share) 9.6% (8%+VAT) for each further fixed term with a minimum of 0 ( 500+ VAT) RENT REVIEW FEE ANNUAL SUBMISSION OF NON-RESIDENT LANDLORDS TO HMRC SMOKE/CARBON MONOXIDE ALARMS. Arranging checks. SMOKE/CARBON MONOXIDE ALARMS. Checking on the 1 st day of tenancy. EPC. WATER & BACTERIAL TESTING. PAT & ELECTRICAL TESTING. 120

5 INVENTORY FEES UNFURNISHED Properties Inventory: 1bedroom/studio bedrooms bedrooms bedrooms bedrooms 360 FURNISHED Properties Inventory: 1bedroom/studio bedrooms bedrooms bedrooms 0 5+ bedrooms 384

Landlord Fees FULLY MANAGED

Landlord Fees FULLY MANAGED Fees vary depending on our 3 service levels (Fully Managed, Rent Collection or Tenant Find.) FULLY MANAGED SERVICE FEE TOTAL inc VAT The SET UP FEE includes agreeing the market