LETTING FEES APPLICABLE TO ALL ASSURED SHORTHOLD TENANCIES FOR ENGALND AND WALES
KINGSMARK PROPERTIES FEE STRUCTURE
All Fees are Inclusive of VAT
Permitted payments and Tenant protection information
In accordance Renting Homes (Fees etc.) (Wales) Act 2019 and Tenant Fees Act (England) 2019
* First month’s rent in advance by transfer to nominated bank account
* Tenancy Deposit – Wales equivalent of 1.5 of agreed monthly rental amount / England capped equivalent to 5 weeks rent of agreed monthly rent
* Holding Deposit – maximum one week’s rent of agreed monthly rent, deducted from first months rent on commencement of agreement. This will be withheld if the tenancy does not commence due to the applicant deciding not to proceed on the agreed date or providing misleading/incorrect information. The tenancy start date should be within 15 days of payment, unless a different date is agreed and in writing by both agent and applicant.
* Early termination when requested by the tenant – The tenant will be responsible to pay the equivalent to the costs incurred by the landlord charge by Kingsmark Properties. (Please refer to the landlord fees page).
* Utilities, communication services, TV licence and council tax – payable as per the tenancy agreement
* Default charge for late payment of rent – will be the equivalent of 3% per annum above the Bank of England base rate from time to time on rent payable that is unpaid for more than 14 days after the day on which it became due.
* Variation of tenancy agreement requested by tenant – £50 (Vat included)
* Default charge for replacement of lost key/s or security device equivalent to cost incurred plus £15 (inclusive of vat) per hour taken to administrate the required replacements
* Default charge for damage to the property during or at end of tenancy will be in line with invoiced costs to remedy property to set original standard
* You may require a Guarantor to help your application if you are under the age of 21 years old or do not meet the financial arrangement 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
LANDLORD ONLY FEES
Each new Tenancy a Landlord will be required to pay Fees for our services.
FULL MANAGEMENT SERVICE
INITIAL TENANCY SET UP COSTS – £350.00 (Vat included) (Non refundable Fee)
THIS INCLUDES REFERENCING COSTS, 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.
INVENTORY CONDITON AND SCHEDULE
We use an independent Inventory Company to prepare an unbiased Report and schedule of condition of the property, whom provide a professional written and photograph inventory.
This cost will be in addition to the Service and Fees provided by Kingsmark Properties the fees vary depending of the size of the property. Typically, costs are between £85.00 and £150.00
( inclusive of VAT).
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.
Additional charges for Landlords on a Introduction basis only
Property inspection £50 (Inclusive of VAT) per visit
Tenancy Renewal £60 (Inclusive of VAT)
Independent Check in or Check out Inspection £60 (Inclusive of VAT)
Help with Evictions, Notices and Court Attendance £200 (Inclusive of VAT)
Secure and return a Bond in to a secure approved Deposit Service £50 (Inclusive of VAT)
Provide an Inventory Schedule and condition full report with photographs
The cost for this service varies depending of the size of the property. Typically, costs are between £85.00 and £150.00 which provides written and photograph inventory.
We can also provide the following Reports by our professional engineers for Gas Safe Inspections, Electric Report and EPC Report (Prices Vary between £50 and £85 for each report depending on size of the property plus initial admin charge for time and calls at £15).
Purchase of a property by the Tenant 1% inclusive of VAT of the final sale price
If you require clarity on the Fee structure, please contact Tracy Wilcox on 07795103686