LETTING FEES

KINGSMARK PROPERTIES FEE STRUCTURE
All Fees are Inclusive of VAT

TENANT FEES
When applying to rent a property the following Fees are payable in advance and are non-refundable. Not all fees may apply:

HOLDING FEE per Property – £250
BOND/DEPOSIT – Equal to 5 Weeks rent
PET CLAUSE FEE – An additional 1 week Bond/Deposit is required

(Guarantor – a third party, which could be, for example, a parent or close relative, who agrees to pay a tenant’s rent if they are unable to pay or haven’t paid. The Guarantor must fully understand and accept they will be liable for to pay the Landlord the rent if the Tenant defaults, and also pay the Landlord their losses, expenses or damages where the Tenant fails to carry out his obligations under the agreement if the Tenant fails to meet their obligations ). Your guarantor would need to demonstrate an annual income of 36 times the per calendar monthly rent or be able to be referenced on savings

THIS INCLUDES REFERENCING COSTS, CREDIT CHECKS, TENANCY NEGOTIATION, PREPARATION OF TENANCY AGREEMENT

DURING/END OF TENANCY
LATE RENT PAYMENT – 3% above the Bank of England base interest rate on late payment of rent from the date the payment is missed if 14 days or more overdue
LOSS OF KEYS – £60.00

CHANGE OF TENANCY – If requested by the Tenant to vacate early or change Tenants information – £50

The administration fees are fully refundable in the following events:
The landlord withdraws the property for let
The landlord doesn’t proceed with your application to tenancy despite your referencing coming back as satisfactory in your own right(s)

LANDLORD FEES
Each new Tenancy a Landlord will be required to pay Fees for our services.

FULL MANAGEMENT SERVICE

INITIAL TENANCY SET UP COSTS – £300.00

The set-up cost quoted includes: All marketing, Legislation advice, accompanied viewings, administration, negotiating and preparing the Tenancy Agreement, placing a Tenants Bond in the relevant government run protection scheme, rent collection, rent arrears management, minimum of two inspections per annum, arranging appointments and liaising with tradespeople for repairs and Safety checks as required by Law, dealing with tenants issues relating to the property 24 hours a day 7 days a week.

MANAGEMENT CHARGE – 10% of the monthly rent collected

TENANT FIND ONLY SERVICE – 75% OF THE FIRST MONTHS RENT

The Tenant Find Only service includes advertising and marketing, accompanied viewings, negotiating and preparing all necessary paperwork and documents to current standards of legislation.

BOND RETENTION/RETURN SERVICE – £30 (Applicable to the tenant find only package)

An Inventory and schedule of condition is advised for each new Tenancy. This cost varies depending of the size of the property. Typically, costs are between £60.00 AND £100.00

If you require clarity on the Fee structure, please contact Tracy Wilcox on 07795103686