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Bingham | Landlord Fees

Belvoir Bingham - we have over 20 years experience specialising in letting property & property management:

We will:

  • Ensure we have full details of your wishes in respect to the letting.
  • Apply to your mortgagee for permission to let, if applicable.
  • Market your property immediately on the Internet at no additional charge.
  • Market your property in the local newspaper and in the shop, erect ‘To Let Boards’ if required.
  • Attend all viewings with potential tenants.
  • On finding a suitable tenant we will carry out all credit and status checks, employer and landlord references if available.

If the tenant matches the property and passes our checks we will:

  • Carry out a full photographic statement of Condition / inventory of the property.
  • Check the property meets the requirements for Smoke and Carbon Monoxide alarm legislation.
  • Draw up and agree with you the tenancy agreement & conditions.
  • Ensure the property is ready for occupation.
  • Conduct the handover of the property to the tenant.
  • Inform all the utilities of the change of occupant and meter readings.
  • Collect and hold the required dilapidation deposit in our Client Account in accordance with the Tenancy Deposit Protection Scheme and register the deposit until the end of the tenancy.

If you wish to go for the ‘tenant finding service’ only, then we would carry out all of the above, at a single cost of 60 % (inc VAT) of the first months rent with a minimum fee of £ 500.00 + VAT = minimum £600.00 inc VAT

Our management of the property will then consist of:

  • Collection of all rental income on the due dates.
  • Pay all rents to the landlord’s nominated account via our computer system within 48 hours of the payment clearing in our account.
  • Carry out an inspection of the property after 3 months and every 6 months after that.
  • Provide a comprehensive report of the inspections undertaken.
  • Review the rent each year and serve required notices as appropriate.
  • Ensure routine maintenance problems are dealt with swiftly as per the landlord’s instructions using either the landlord’s nominated tradesmen, or our own.
  • Co-ordinate emergency repairs to protect your property and the tenant, providing the tenant with an out of hours contact service.
  • Provide you with an annual statement of payments for tax returns.

At the end of the tenancy we will:

  • Issue the advance ‘Notice Requiring Possession’.
  • Advise the tenant of pre-‘Departure’ requirements.
  • Carry out the ‘departure check’ with the tenant to ensure the property is suitable for handover to yourself or future tenants.
  • Repay the held deposit or deduct for necessary charges as agreed with both parties, administer the dispute resolution service of the tenancy deposit scheme if both parties are not in agreement.
  • Hand over the property to the landlord or seek a new tenant.

Fees:

We have a start up fee and re-let fee of £175.00 + VAT = £210.00 inclusive of VAT, with a Full Management fee of 11% of the gross monthly rent plus VAT = 13.2% inclusive of VAT. For example if the monthly rental was £600.00 you will pay a fee of £79.20 inclusive of VAT.

The fees are inclusive of full photographic inventories and advertising costs, any notices that are served and yearly rent reviews, No fees are payable until we find a suitable tenant as they are then deducted from the first month’s rent. There are no charges to landlords or tenants for renewal of tenancies if this is required.

We can arrange an Energy Performance Certificate at a cost of £78 inclusive of VAT for any property.

Belvoir Bingham is part of the NALS Client Money Protection Scheme.

If you are a landlord with multiple properties then there may be discounts available, please contact us to discuss these.