News Archive for July 2021

Landlord Fees

Letting Only: - 12% (Inc VAT)

Management Only: 7.2% (Inc VAT)

Letting & Management: 19.2% (Inc VAT)

Tenant Permitted Payments

Refundable Holding deposit: - Capped at 1 weeks rent

Security Deposit: Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent: The agreed monthly rent

Changes to tenancy Capped at £50 inc VAT

Early termination charge: Not exceeding the landlord’s financial losses

Late payment of rent: Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys: Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc: Tenants own responsibility unless otherwise stated in contract

Client Money Protection Scheme: Membership details C0009130

Property Redress Scheme Membership details TPO N01995