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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

Additional services and their fees

VAT at 20% included in all fees

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

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