KINGSMARK PROPERTIES FEE STRUCTURE
All Fees are Inclusive of VAT
When applying to rent a property the following Fees are payable in advance and are non-refundable. Not all fees may apply:
Information for Tenants: Relevant Letting Fees and Tenant Protection Information
A Holding Deposit of One Weeks Rent is payable to secure the property. The property will then be held for a maximum 15 day period with agreed tenancy start date. If you withdraw from the application or references fail due to inaccuracy your deposit payment will be forfeited.
Upon signing of tenancy agreement the First Month’s Rent and Deposit equivalent to Five Weeks Rent will be payable.
Other Permitted payments during the tenancy are:
Lost keys/Lock Replacement – Cost of Locks and £75 charge
Change of sharer within Tenancy – £250
Early Surrender of Tenancy or Variation – £250 and rent for remaining term until new tenancy begins.
Pet Clause Fee; 1 week Deposit
Payment for the late payment of rent; 3% above the Bank of England Base Rate on payments missed if 14 days late or more overdue.
Utilities Bills unless stated differently includes gas, electricity, water;
Communications telephone and broadband;
Installation of cable/satellite;
Subscription to cable/satellite supplier;
Council Tax; and
Other permitted payments (any other permitted payments, not included above, under the relevant legislation including contractual damages).
(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
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)
Each new Tenancy a Landlord will be required to pay Fees for our services.
FULL MANAGEMENT SERVICE
INITIAL TENANCY SET UP COSTS – £300.00
THIS INCLUDES REFERENCING COSTS, CREDIT CHECKS, TENANCY NEGOTIATION, PREPARATION OF TENANCY AGREEMENT
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