Guide to Renting - Landlord
Letting Service
11% plus VAT of the agreed rate for the entire term which should be paid in full at the commencement of the tenancy.
Letting and Management Services
15% plus VAT of the agreed rate for the entire term and any renewal or extension.
Management Only
5% plus VAT
Tenancy Agreements
Assured Shorthold Tenancy Agreement (Landlords share) £330 per tenant
Renewal Tenancy Agreement (Landlords Share) £240 per tenant
How to rent - The checklist for renting in England
Complaints Procedure (ICP) document
Additional services and their fees
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Fees payable by tenant
Holding Deposit
Equals one weeks rent and is held during the referencing process before the tenancy agreement is signed.
Refundable Tenancy Deposit
Equal to 5 weeks rent where the total annual rent is less than £50,000, or 6 weeks rent where the total annual rent is £50,000 or above.
The deposit will be protected in a government approved deposit protection scheme.
Payments in the event of a default
This charge covers:
- The loss of a key to, or any other security device giving access to, the property to which the tenancy relates will incur a charge.
- Failure to make a payment of rent in full only before the end of 14 calendar days beginning with the date the rent is due as written in the tenancy agreement will incur a charge of 3% above Bank of England base rate in interest for each day that the payment is outstanding.
- Payments on variation, assignment or novation of a tenancy: If changes to the tenancy are requested by the tenant after the tenancy has become binding a charge not in excess of £50 (including VAT) will occur.
- Payments on early termination (surrender) of tenancy: A charge will occur for a tenant’s request of an early termination of the tenancy (other than when exercising a break clause in accordance with the terms of the tenancy). The charge will not exceed the loss suffered by the landlord or the reasonable costs incurred by Milton Stone.
- Payments in respect of Council Tax
- Payments for Utilities: Electricity, gas or other fuel, water or sewage.
- Payments for a television license: Payable to the British Broadcasting Corporation (BBC)
- Communication services: Telephone (other than a mobile telephone), the internet, cable television, satellite television.
- Green Deal charge: If the Tenancy Agreement requires the payment to be made, the tenant will make a payment towards Energy Efficiency improvement under a Green Deal charge (as set out in Section1 of the Energy Act 2011) or any subsequent energy efficiency scheme.
Client money protection (CMP) provided by Arla Propertymark; propertymark.co.uk
Ombudsman services provided by The Property Ombudsman; tpos.co.uk