Lettings & Management Fees London
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1 Lettings & Management Fees London Thank you for your interest in Enviro Estates international lettings service. Please find more details below. Please note Rent period is usually 12 months International Lettings Only Sole Agency: 8% inc VAT of total rental amount for period** Multiple Agency: 13% inc VAT of total rental amount for period** Prepare property details, Professional colour photographs of your property Arrange Energy Performance Certificate (If required) Comprehensive marketing on major UK property portals Comprehensive marketing on major China & Hong Kong property portals Comprehensive marketing through our China Desk and Shanghai office Handling and organising tenant enquiries and arranging viewings Carry out accompanied viewings Negotiate offers and obtain reference checks Prepare and submit Tenancy Agreement Collect & hold the deposit as stakeholder in our Client Account A full and detailed check-in inventory Arranging the check-in of the tenant at the start of the tenancy Transfer of utilities at start of the tenancy Register deposit with Deposit Protection Service where appropriate Arranging of rent protection insurance & Landlord insurance Discuss non-resident tax status and HMRC (if relevant) Receive and remit rent as received Deduct commission and any pre-tenancy invoices Make any necessary HMRC deductions Advise on rent arrears actions, if applicable Full lettings & Management (First 6 months management included complementary) Sole Agency: 12% inc VAT of total rental amount for period** Multiple Agency: 17% inc VAT of total rental amount for period** Then for monthly management after 6 months: 10% inc VAT of monthly rent, subject to minimum of 80 per month In addition to the International Lettings Only; 24-hour availability service with dedicated account manager for both landlord and tenant Retain a working fund and deal with day to day management Hold spare key during tenancy term Visit the property at least once every six months and notify landlord of outcome Arranging repairs and maintenance, obtain quotation for repairs (3 quotes for each repair) Organising yearly gas safety inspection (If required) Appliance Testing (If required) Administrate Ground Rent and Service Charges (Additional Charge) Handling rent arrears and advising, including preparation of, rent recovery Administrate Ground Rent and Service Charges Agree the check out date and time with tenant Instruct inventory provider to prepare and check inventory with tenant Negotiate with landlord and tenant any disbursement of the security deposit Return deposit as agreed with landlord and tenant to relevant parties Remit any disputed amount to the Deposit Protection Service for final adjudication Unprotect security deposit Management while the property is vacant in-between tenancies
2 Pre-Tenancy Additional Optional/Non-Optional Fees, Charges and Services Check-in & Inventory Fee Our inventory fee will include both written and video inventory See Schedule 1* Tenancy Agreement Fee (Landlords Share) 185* Overseas payment transfer fee If we are to pay the rent to an overseas bank account. We cover all cost for this Landlord withdrawal fee If we find you a tenant and you withdraw the offer for rent after we have processed the tenants reference check Translation fee Our charge for translating any property description (optional) Float/Reserve Fund If you ask us to manage the property, we will require a reserve fund, which will act as a float for any maintenance etc This will be held in a separate deposit client account and if not used, will be returned at the end of the tenancy to the landlord 25 + disbursements Tenant s incurred costs 25 per 200 words (Depending on property rental value) During Tenancy Payment of outgoings or bills If you would like us to pay for any outgoings, such as service charge, ground rent, mortgage out of the rent received Additional property visits We will make 2 visits per tenancy included in our management, if you would like us to make any additional visits House sitting Copy of statements by post 50 + disbursements 100 per visit 50 per hour 5 per statement Collection of costs 95 Transfer of documents to third-party Should you wish for documents to be sent to a third-party (for example if you get check-out inventory by another company). We will provide documents free of charge to you at start of tenancy but charge to forward to third parties. 25 per document Renewal of tenancy 70* Maintenance fee on works over 500 If you require us to organise any major maintenance work on the property over 500 in value we charge percentage on total final bill of maintenance cost. International payment transfer If we are to transfer monies to a non-uk bank account HMRC submission of NRL1i/NRL2i form HMRC Payment of tax 10% + disbursements 5 + disbursements 75 + disbursements 50 + disbursements
3 Deposit transfer fee Transfer of deposit to another account 50 End of tenancy Return of key You may collect the key to the property at our office free of charge, however should you wish for it to be sent back to any worldwide address, we can arrange this for you Deposit dispute fee Should you wish for us to prepare and submit a dispute relating to the deposit Hourly rate Any additional work outside of our agreement with you Management of property while vacant Should the property be unoccupied and you wish us to manage the property while it is vacant we charge a reduce management fee 30 + disbursements disbursements 120 per hour* + disbursements 5% of monthly rent paid by previous tenant Additional Services Hand over If you have a new build property and want us to undertake the handover for you on completion 70 per hour (Minimum of 1 hour) Snagging For new build properties to attend and handle snagging issues Property visit/inspection If we do not manage the property and want us to make a visit/inspection at the property Key holding fee non managed If you would like us to hold the key to the property Key holding fee managed If we manage(d) the property and you no longer wish for us to manage the property either with or without a tenant in situ, we will hold the keys to the property for up to 21 working days and for collection at our office free of charge. After which time, should the keys be in our possession we charge for holding Court attendance Serving of notices 100 per visit 120 per visit 7.50 per month 5 per month 180 per hour (Minimum of 1 hour) 70 per notice Energy Performance Certificate (EPC) From 90 Gas Safety Inspection From 120 Landlords Insurance Landlords Rent Protection Insurance Track & Trace Fee If you want us to find a tenant who can longer be contacted at the details you have, we charge a track and trace fee, which we will try and claim back of tenant. If we can reclaim back of tenant we will give you a full refund. Please call for information Please call for information 250
4 Preparation of accelerated possession to courts Preparation of documents and completion and submission of court papers in relation to accelerated possession of property. This service includes contacting and completion of issuing with court bailiffs should tenant still not leave but excludes court appearance. Excludes court fees disbursements Schedule 1 Inventory fee & Check-in fees* Furnished Unfurnished Studio bedroom bedroom bedroom bedroom bedroom additional 20 per bedroom after *Loyal landlord scheme We want to reward loyal landlords. Landlords who are long term customers or have a large portfolio (10 or more) will attract a reduced rate on some of our fees and charges. Letting process Marketing your property We will market your property on major UK & International property portals, handle all enquiries, and arrange viewings with prospective tenants. Negotiate offers Once a prospective tenant wishes to proceed, we will undertake reference and credit checks on them. The cost of this reference fee will be charged to the tenant in an application fee. We offer a full credit check undertaken by an independent referencing agency, the tenant must have an income of 30 times the monthly rent to pass. In some cases a tenant may have a guarantor, to guarantee the rent, for example if the rent is being funded by a third party. Move in When the credit check has been successfully processed, we will co-ordinate with the tenant a suitable moving in date. The tenant will be required to pay into our dedicated client account, one months' rent upfront and a deposit (which is between one and one and half months' rent depending on landlord's preference). This will have to be cleared funds before moving in. A full written and inventory check will be undertaken, prescribed information given to the tenant and 6 month tenancy agreement signed on the day of moving-in. All rent monies will be paid, minus any deductions in fees to your nominated account. Legalities We will ensure that the deposit is protected, within the legally stipulated 30 day timeframe, and issue on the tenant notice of this protection, together with further prescribed information, which they are required to sign. If you are an overseas landlord, we will send over an NRL1i form to you for completion, this can be returned to us for posting at no additional cost.
5 Example of fees: Lettings Only Sole Agent: On a 2 bedroom furnished property let on a 12 month tenancy at 1,800 per month, our fee would be 1,728 plus 155 for inventory and 185 for tenancy agreement fee (Total all-inclusive charge = 2,068). Lettings Only Multiple Agent: On a 1 bedroom unfurnished property let on a 12 month tenancy at 1,200 per month, our fee would be 1,872 plus 125 for inventory and 185 for tenancy agreement fee (Total all-inclusive charge = 2,182). Full Management Sole Agent: On a 1 bedroom furnished property let on a 12 month tenancy at 1,300 per month, our initial fee would be 1,872 plus 135 for inventory and 185 for tenancy agreement fee (Total all-inclusive charge = 2,192). We would also put 250 into a float. This also includes 6 months management with us. After 6 months the management fee would be 130 per month for management thereafter. Full Management Multiple Agent: On a 2 bedroom unfurnished property let on a 12 month tenancy at 1,500 per month, our initial fee would be 3,060 plus 145 for inventory and 185 for tenancy agreement fee (Total all-inclusive charge = 3,390). We would also put 250 into a float. This also includes 6 months management with us. After 6 months the management fee would be 150 per month for management thereafter. Our property management agreement contract term is 6 month rolling with 2 months notice for termination. Enviro Estates is a trading name of EEUK Limited. EEUK Limited is registered in England & Wales under number EEUK Limited is a member of the Deposit Protection Service All operations are undertaken at our registered office in Manchester. London is a contact location for our London clients EEUK Limited is a member Property Redress Scheme under number PRS
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