Agency Fees

Landlords pay the agent management fees whereas tenants pay a separate agency fee for vetting and administrative costs.  Both provide separate services and do not represent duplication.

Fees for portfolio landlords are negotiable.

Leydon Lettings Agents offer landlords three services, fees for which are typically:

Tenant Find Service:

75% incl. VAT (62.5% + VAT)

  • Market property in accordance with the landlords instructions
  • Collect and remit initial months’ rent received
  • Arrange deposit collection and protection
  • Tenant and guarantor referencing.
  • Draft tenancy agreement and negotiate special terms.
  • Agree collection of any shortfall and payment method
  • Provide tenant with method of payment
  • Deduct any pre-tenancy invoices
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant)

 

Tenant Find and Rent Collection Service:

10.8% incl. VAT (9% + VAT)

All items detailed under tenant find in addition to:

  • Deduct commission and other works
  • Collect and remit rent received
  • Provide regular, detailed statements
  • Pursue non-payment of rent and provide advice on rent arrears actions

 

Full Management Service:

15% incl. VAT (12.5% + VAT)

All items detailed under tenant find and rent collection in addition to:

  • Certificate renewal
  • Deduct commission and other works
  • Advise all relevant utility providers of changes
  • Undertake two inspection visits per annum and notify landlord of the outcome
  • Arrange routine repairs and instruct approved contractors (providing two quotes) and provide out of hours contacts numbers
  • Serve relevant notices
  • Arrange inventory and check outs reports
  • Hold keys throughout the tenancy

 

OTHER FEES AND CHARGES:

Setup Fee (Landlords Share):

£90.00 (inc VAT)

  • Agree the market rent and find a tenant in accordance with the landlord guidelines;
  • Advise on refurbishment
  • Provide guidance on compliance with statutory provisions and letting consents
  • Carry out accompanied viewings (as appropriate)
  • Market the property and advertise on relevant portals
  • Erect board outside property in accordance with Town and Country Planning Act 1990
  • Advise on non-resident tax status and HMRC (if relevant)

Inventory Fee (landlords share)

  • Request Schedule

Dependent on the number of bedrooms and/or size of the property and outbuildings.

Deposit Registration Fee

£30.00 (inc VAT)

  • Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme
  • Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy

Additional Property Visits

£48.00 per hour (inc VAT)

  • To attend for specific requests such as neighbour disputes; more visits are required to monitor the tenancy; inspection of works instructed by the landlord; or any maintenance-linked visit.

Out of Office Hours Emergencies

£120.00 initial call out, £60.00 per hour thereafter (inc VAT)

  • Emergency calls or call outs the agent is obliged to attend to between the hours of 23:00 and 07:00 and all day on Sundays and bank holidays.

Submission of Non-resident Landlords Receipts to HMRC

£72.00 (inc VAT) quarterly

  • 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.

Arrangement Fee for Works Over £500.00

12% of net cost

  • Arranging access and assessing costs with contractor
  • Ensuring work has been carried out in accordance with the specification of works
  • Retaining any warranty or guarantee as a result of any works

Arrangement Fee for Renovation Works Over £4000.00

18% of net cost

  • Arranging access and assessing costs with contractor
  • Ensuring work has been carried out in accordance with the specification of works
  • Retaining any warranty or guarantee as a result of any works

Obtaining more than two contractors quotes

£60.00 (inc VAT) per quote

Renewal Fee (landlords share)

£60.00 (inc VAT)

  • Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

Court Attendance

£100.00 (inc VAT) per hour plus expenses

  • (Minimum charge £300.00)

If you have an questions in regards to our fees, then please feel free to contact a member of staff.