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Block & Property Management 020 7812 0480

Landlord Fees

We aim to be simple and transparent in our fee structure.  We have listed our standard letting, property management and other fees below.  We have also listed the services included within each fee.   Discounts to these rates may be available for multiple properties or to clients in blocks we manage – please contact us for further details.

LETTING FEE:                                    10% (inc VAT) of rent

  • Collect and remit initial month’s rent received
  • Agree collection of any shortfall and payment method
  • Provide tenant with method of payment
  • Deduct any pre-tenancy invoices
  • Make any HMRC deductions and provide tenant with the NRL8 (if relevant)
  • Agree the market rent and find a tenant in accordance with the landlord’s guidelines
  • Provide guidance on compliance with statutory provisions and letting consents
  • Carry out accompanied viewings (as appropriate)
  • Market the property and advertise on our website and relevant portals
  • Erect board outside the property in accordance with the Town and Country Planning Act 1990
  • Register landlord and tenant details and protect the deposit with The Tenancy Deposit Scheme
  • Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy
  • To remit and balance the financial return to HMRC quarterly – and respond to any specific query relating to the return from the landlord or HMRC

PROPERTY MANAGEMENT FEE:        6% (inc VAT) of rent

  • Collect and remit the monthly rent received
  • Pursue non-payment of rent, provide advice on rent arrears action
  • Hold keys throughout the tenancy term
  • Deduct cost of commission and other works
  • Arrange for routine repairs and instruct approved contractors
  • Undertake two inspection visits per annum and notify landlord of the outcome
  • Make any HMRC deductions and provide tenant with NRL8 (if relevant)
  • Arrange inventories / check ins / check outs
  • Arrange statutory inspections such as gas safety checks, electrical installation tests
  • Ascertain whether the tenant wishes to renew the let for a further term
  • We will be the first point of contact for any tenancy related emergencies

 ADDITIONAL FEES AND CHARGES:

Additional Property Visits:                          £60 (inc VAT) per hour
To attend for specific requests such as neighbour disputes, when more visits are required to monitor the tenancy, or any maintenance linked visits

Renewal Fee                                              8% (inc VAT) of rent

  • Review rent in accordance with current prevailing market condition and advise the landlord
  • Negotiate with the tenant
  • Direct tenant to make payment as appropriate
  • Update the tenancy agreement
  • Serve Section 13 if tenancy is on a rolling monthly basis

Inventory/Check in Fee:                             £72 – 210 (inc VAT) based on size

  • Instruct inventory provider to attend.
  • Agree check out date and time with tenant
  • Negotiate with landlord and tenant any disbursements of the security deposit
  • Return deposit as agreed with landlord and tenant to relevant parties
  • Remit any disputed amount to Scheme for final Adjudication
  • Unprotect security deposit
  • Instruct contractors; obtain quotes; organise repairs/replacement/cost of any broken or missing items
  • Undertaken by inventory firm at cost price

Court Attendance:                                       £96 (inc VAT) per hour

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Islington Properties Ltd is an appointed representative (Registration Number 602511) of Clear Insurance Management Ltd, who are authorised and regulated by the FCA - Financial Conduct Authority (Registration Number 307982).