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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

Landlord Fees Schedule

ADDITIONAL NON-OPTIONAL FEES AND CHARGES

PRE-TENANCY FEES (ALL SERVICE LEVELS)

Arranging and facilitating statutory compliance:

  • Energy Performance Certificate (EPC) £59 per tenancy.
  • Gas Safety Certificate (GSR) £108 per tenancy.
  • Electrical Installation Condition Report (EICR) £216 per tenancy plus any parking and                                                                                                                                   congestion if required.
  • Portable Appliance Testing (PAT) £96 per tenancy.
  • Installing Smoke Alarms and Carbon Monoxide Detectors £96 for the first device and £36 for every                                                                                                                                 additional device.

All prices are per tenancy and inclusive of VAT.

START OF TENANCY FEES

Reference Fees: £40 per applicant. This covers referencing of Tenant (ID checks, Right-to Rent check, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the signing of the tenancy agreement.

Referencing costs for Additional Tenant(s) are £40 per person.

Guarantor Fees: £40 per guarantor. This covers credit referencing and preparing a Deed of Guarantee.

Permitted Occupier Fees: £40 per permitted occupier. This covers explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord and adding them to the contract.

Inventory Fees: Depending on the number of bedrooms and/or size of the property and any outbuildings fees may vary but prices for basic reports are as follows:

  • Studio                            £102 per tenancy.
  • One Bedroom                 £120 per tenancy.
  • Two Bedroom                  £144 per tenancy.
  • Three Bedroom               £156 per tenancy.
  • Four Bedroom                 £168 per tenancy.

Check-in Fees: This covers attending the property to welcome the tenant(s), confirm the Inventory and Schedule of Condition, explaining the operation of appliances, and highlighting the location of utility meters, stop-cocks etc. and testing that all the smoke alarms and carbon monoxide detectors are present and in working order. This is subject to an Inventory being in place as above:

  • Studio                             £78 per tenancy.
  • One Bedroom                  £90 per tenancy.
  • Two Bedroom                 £102 per tenancy.
  • Three Bedroom               £114 per tenancy.
  • Four Bedroom                 £126 per tenancy.

Landlord Withdrawal Fees (before move-in): These will equate to one week of the agreed rent (incl. VAT) per tenancy. This covers the costs associated with the marketing, advertising and tenancy set-up should the landlord withdraw from the tenancy before it starts.

All prices are inclusive of VAT.

DURING TENANCY FEES

Renewal Fees: 6% of the annual rent (including VAT) per tenancy. Rent advice, contract negotiation, amending and updating terms and arranging for the signing of a future tenancy agreement.

Arrangement Fees for works over £1,200 (including VAT): 12% of contract value (incl. VAT). Arranging access and assessing the costs with any contractors, ensuring work has been carried out in accordance with the Specification of Works and retaining any resulting warranty or guarantee. Applies to the fully managed service only.

END OF TENANCY FEES

Check-out Fees: This covers attending the property to undertake and update Schedule of Condition based on the original Inventory and negotiating the repayment of the security deposit:

  • Studio                                £84 per tenancy.
  • One Bedroom                     £96 per tenancy.
  • Two Bedroom                    £108 per tenancy.
  • Three Bedroom                 £120 per tenancy.
  • Four Bedroom                   £132 per tenancy.

All prices are inclusive of VAT.

OTHER FEES AND CHARGES

Vacant Property Management Fees: £180 (incl. VAT) per visit. To cover the costs associated with visiting the property to undertake visual checks on the inside and outside at a frequency mutually agreed with the landlord.

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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).