×

Contact us today

Please enter your first name.
Please enter your surname.
Please enter your telephone number.
Please enter a valid email address.
Please provide some details about your enquiry.
 
Hero image 1

Bingham | Landlord Fees

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 £ 720 inclusive of 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 of £250.00 + VAT = £300 and re-let fee of £200.00 + VAT = £240.00 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 are part of the safeagent Client Money Protection Scheme.

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

 

SCALE OF CHARGES 

 

Tenant Find Service

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 % including  VAT of the first months rent with a minimum fee of £720 inclusive of VAT.

If the monthly rental is £1500 pcm you will pay a fee of £ 900 inclusive of VAT.
 

Full Management Service                   

13.2% inclusive of VAT of the rent received, deducted by the Agent.

If the monthly rental is £600 pcm you will pay a fee of £ 79.20 inclusive of VAT.

There is a start up fee of £300.00 inclusive of VAT and re let fee of £240.00 inclusive of VAT
 

The fees under the above services are payable when any individual or organisation enters into an agreement to rent the Property as a result of our promotion, introduction, or viewing by the agent.

 

Additional Charges

Tenant and Guarantor referencing        £       Included

Tenancy agreement Fee                       £       Included

Inventory service                                   £       Included

Duplicate statements                             £       Included

Professional hourly rate                         £       60 inclusive of VAT - Charged by the Agent when required to carry out any additional services

Check in                                                 £       Included

Check out                                               £       Included in full management service

Void property inspections                      £       36 inclusive of VAT per visit

Tenancy renewal fee                             £       Included in full management service

Major works fee                                     £       6 %      (inclusive of VAT)

If the works costs £ 8000.00 you will pay a fee of £480 inclusive of VAT

 

Minimum Fee

Where the landlord cancels the agent’s instruction to provide a management service, after the tenant has moved into the property, the Agent will charge, and the Landlord will pay, a fee based upon 2 months management fee after the initial fixed term of the tenancy. 

VAT is payable at the prevailing rate on all our fees. In accordance with consumer legislation it is quoted as included in the prices stated above.

 

SCALE OF CHARGES - OTHER INCOME 

(All fees are per property unless otherwise stated)


Charges to tenants (where applicable):

1).  Credit/Referencing                   £          0            per   tenant/property

2)   Tenancy agreement drafting    £          0            per   tenant/property

3)   Check in inventory                  £          0

4)   Check out inventory                £          0

5)   Tenancy renewal                     £          0

6)   New landlord reference           £          0          per   tenant/property

7)   Guarantor referencing             £          0          per   tenant/property

 

The fees charged to the tenant may change and we will endeavour to inform you of such a change at the earliest opportunity.

 

We also seek your consent to receive commissions from:

Contractors                                   Consent given             0 %                  Yes      No

Insurance companies                   Consent given             upto 25 %        Yes      No

Utility providers and others           Consent given             circa £10         Yes      No

 

These commissions will be included in the contractor invoice.

Property Redress

We are members of a property redress scheme. The name of our provider is: The Property Ombudsman.

Client Money Protection

We have client money protection. The name of our scheme is: safeagent