|LANDLORD FEES & CHARGES
|Let only Service
Sole Agency 9.6% of rent inc VAT
Multiple Agency 12% of rent inc VAT
Or £600.00 minimum payment inc VAT
Advice on the current market rent
Advice on any property refurbishments required
Carry out all viewings
Marketing your property to find a Suitable prospective tenant
Fully and satisfactory referencing the prospective tenant
Preparing the relevant legal documents including the tenancy agreement and inventory and schedule of condition (if you request this)
Collection of the first month’s rental payment and remit to the landlord after any deductions for fees or pre tenancy invoices
Protect security deposit with the tenancy deposit scheme (if applicable)
|Rent Collect Service
14.4% of rent inc VAT
All services for our let only service
Provide advice on rent arrears action
Arrange the renewal of the Gas Safety record and deduct payment from rent received
Collect rental payments and remit to landlord accordingly
Accounting to you for these monies the end of the tenancy with your received and paid over
|Full Management Service
Sole 16.8% of rent inc VAT
Multi 19.2% of rent inc VAT
All services for our let only service
Managing your property during the tenancy, arranging repairs and refurbishment as agreed with you
Accounting for any such monies as are spent on your behalf
Arranging for the check out at the end of the tenancy with your tenants
|* Short Let Tenancies 18% of rent inc VAT|
|For more details on our services, please request a copy of our Landlord Terms of Business or speak to a member of our letting team.
We are a member of a Client Money Protection Scheme
|Additional Fees and Charges:-
Renewal Fees – a renewal fee will occur for any tenancy that renews for a further term. This will be based on the level of service fee percentage details and is payable on the renewal of the tenancy whether a new fixed term or a period tenancy. This is also applicable whether or not we act as your agent to negotiate on your behalf.
Staff attendance to a property – a £30.00 (inc VAT) fee will apply if we do not manage the property and you require our assistance regarding access for deliveries, maintenance work etc.
Arrangement fee for refurbishment works – a 10% of net cost charge will apply if you require our assistance in organising access and assessing cost with contractors and ensuring works have been carried out accordingly.
Overseas funds transfer fee – a charge of £25.00 (inc VAT) will apply where a transfer of funds, including rental received on the landlords behalf, is being made to an overseas account. This fee will be deducted from the funds being transferred.
CHAPS transfer fee – a fee of £15.00 (inc VAT) will apply for a UK Bank account.
Court attendance – a £350.00 (inc VAT) fee will apply if we are required to appear at court or a tribunal by special agreement only. This fee is based per day required.
Late payment charges – interest of 4% above bank of England base rate from the date due. Where any payment is made later than 14 days after such payment falls due.
Reserve fund – during the tenancy (but not marketing period) a float of £300.00 will be required for emergency works to be carried out if required. This is only applicable for our full management service.
Gas safety report – a charge of £96.00 will apply should you require a Gas Safety record for the property arranged by Litchfields.
Inventory check in and schedule of condition – should you require an inventory check in or schedule of condition report the charge will vary depending on size and furnishing between £110.00 - £350.00 (inc VAT).
Pre tenancy cleaning – should you require a pre tenancy clean that Litchfields arranges, the charge will vary depending on the size of the property and the works required ranging between £170.00 - £950.00 (inc VAT).
Tenancy deposit scheme fee – a charge of £96.00 (inc VAT) will apply should Litchfields hold the deposit in a protected scheme.
Non-resident Landlords – If you are a Non Resident Landlord and we are not in receipt of the relevant approval from HMRC, there will be a fee of £240.00 (inc VAT) for the calculation of tax retention, forwarding monies to HMRC and providing a certificate of tax reductions.
Copy of statements – In the event of Litchfields having to send duplicate documents or statements a charge of £2.50 per document will apply, subject to a minimum charge of £10.00
Carbon monoxide and smoke alarms – from the 1st October 2015 there must be a working smoke alarm on each floor of the property and a carbon monoxide alarm if you have a wood burning appliance. Should Litchfields arrange this a charge of £96.00 (inc VAT) will apply in addition to £15.00 per alarm required.
Should you require more information regarding any of the above, please contact a member of our lettings team.
|As well as paying the rent, you may also be required to make the following permitted payments.
Before the tenancy starts
• Holding Deposit: 1 week’s rent
• Deposit: Up to to 5 weeks rent or 6 weeks rent when annual rental is over £50,000
During the tenancy
• Payment of £300 including VAT if you want to change the tenancy agreement.
• Payment of interest for the late payment of rent at a rate of 4% above Bank of England Base Rate.
• Payment of up to £50 for the reasonably incurred costs for the loss of keys/security devices.
• Payment of any unpaid rent or other reasonable costs associated with your early termination of the tenancy.
During the tenancy (payable to the provider) if permitted and applicable
• Utilities – gas, electricity, water
• Communications – telephone and broadband
• Installation of cable/satellite
• Subscription to cable/satellite supplier
• Television licence
• Council Tax
Other permitted payments
• Any other permitted payments, not included above, under the relevant legislation including contractual damages.
• Tenant protection
Litchfields is a member of CMP, which is a client money protection scheme. You can find out more details by contacting us directly.