Full Fees Explanation
A. Let Only Service: 8.4% Inc. VAT (7% + VAT)
Photograph and advertise the property on multiple large platforms as well as our own website for maximum exposure.
We will find and reference your prospective tenants.
We will prepare and arrange for the tenant(s) to sign the tenancy agreement which will have been drawn up to adequately cover your circumstances and to protect your interests.
Where a professional independent inventory and check-in is not being carried out, the landlord will need to carry out their own check-in at the start of the tenancy which we can schedule in. The landlord will need to organise the check-out with the tenant at the end of the tenancy.
The rent collected will be accounted to you less the deduction of our fees, VAT and agreed property-related expense
Where a professional inventory has been carried out by our recommended inventory clerk, you will be sent a copy of the check-in report which will include meter readings.
Note: Let-only fees are taken from the first month’s rent and are based over a 12-month period.
B. Let & Rent Collection Service: 10.8% Inc. VAT (9% + VAT)
(Including above criteria 1–6) as well as the following:
We will transfer electricity, water, gas utilities into the tenant’s name using appropriate meter readings and notify the council tax department. We will then arrange for your final account to be forwarded to you for settlement.
We will undertake rental collection, pursuing any late payments should they occur.
The monthly rent collected will be accounted to you less deduction of our fees + VAT.
We will undertake the legal administration of the tenancy, e.g. ensuring prescribed notices are served in the correct format and manner, and that advice of Gas Safety Certificate renewals are provided.
Two months prior to the expiry of any fixed-term tenancy we will prepare and serve notice to the tenants asking if they would like to renew the tenancy, unless we receive your instructions to the contrary.
A professional inventory is recommended; however, if an inventory and check-in is not carried out by us, keys to your property will be issued to the tenant on the day the tenancy commences. The landlord will need to organise the check-out with the tenant at the end of the tenancy.
Upon vacation of the property by the tenant, on your instruction we can contact the suppliers of electricity, gas and water with meter readings and notify the council tax department, advising the utilities to forward a final account to the tenant’s new address. If the landlord is checking the tenants out themselves and not using an independent clerk as recommended, then the landlord can provide us with the check-out meter readings
C. Full Management Service: 14.4% Inc. VAT (12% + VAT)
(Including above criteria 1–13) as well as the following:
- We will investigate any faults reported at the property, instruct contractors to provide competitive quotes and then select one to carry out the work in accordance with your ‘Instructions to Act’ and with your permission.
- We will undertake the day-to-day management of your property, liaising as an intermediary between yourself and the tenant(s) in all aspects of the tenancy.
- We will carry out six-monthly inspections of your property and will report our findings and recommendations to you. Please note that any repairs and maintenance reported which are not considered to be of an emergency nature will only be instigated on your instructions.
- Following the check-out inspection of the property, we will provide our experience to assist in mediating on any damages and arrange remedial works, settling contractor’s accounts from tenant deposit monies, funds permitting. Under the Full Management Service, a professional independent inventory and check-in is a requirement as part of our terms.
- The rent collected will be accounted to you less the deduction of our fees + VAT and any repair costs.
Tenancy renewal fees apply when renewing the tenancy for existing tenants whether the tenancy is renewed on a periodic basis or a fixed-term. Our renewal commission fee will be calculated on the new rent if there has been an increase or decrease.
- Let-Only – 6% (5% + VAT)
- Let & Rent-Collection Service – 10.8% (9% + VAT)
- Full Management Service – 14.4% (12% + VAT)
Please note that management and rent-collection fees will continue to be taken monthly.
Andrews Residential will carry out the administration and prepare and arrange for the proposed tenant(s) to sign the tenancy agreement. The cost for drafting this document along with the administration will be charged as a one-off Tenancy Administration cost to the landlord of £102.00 (£85.00 + VAT).
If the landlord is not part of an accredited deposit scheme, Andrews Residential will hold the deposit on the Tenancy Deposit Scheme (TDS) which is at a cost to the landlord of £60.00 (£50.00 + VAT).
Taking a little extra time to research your prospective tenants can pay dividends in the long run. With our comprehensive tenant referencing service, you will get all the background checks required. We will complete a full, comprehensive financial analysis of each tenant, confirming employment, salary stability, credit worthiness and a previous landlord / managing agent reference to confirm that rent has been paid in full, on time and the property was looked after throughout the tenancy.
We use a professional independent referencing company to carry out the references, and once the references are complete, we will issue you with the summary report.
The cost to the landlord for referencing and administration is £118.80 per tenant (£99.00 + VAT per tenant).
Legal checks, certifications and procedures
A Gas Safety Certificate (£115.00 inclusive of VAT);
An electrical safety check (QUOTE REQUIRED);
Smoke alarms to be fitted to each floor (£60.00 each inclusive of VAT);
Carbon monoxide (CO) detector or alarm to be fitted to each floor (£60.00 each inclusive of VAT);
Energy Performance Certificate – EPC (£120.00 inclusive of VAT).
See the table below for professional, independent inventory and check-in costs
How do we ensure our landlords are protected?
We are a registered member of the Propertymark Client Money Protection Scheme. This is a client money protection scheme to ensure your money is handled within the correct manner. Download a copy of our Propertymark Client Money Protection Certificate here.
You can review the Propertymark Conduct and Membership Rules here.
We are also members of The Property Ombudsman (TPO), which is a redress scheme for consumer complaints.