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Let only: 12% of rent (inc VAT)
Includes:
Rent collection: 14.4% of rent (inc VAT)
Includes:
Fully managed: 18% of rent (inc VAT)
Includes:
Additional non-optional fees and charges (irrespective of level of service):
Set-up fee (landlord’s share): £120.00 (inc VAT)
Preparing the tenancy agreement, explaining terms of agreement to tenant and landlord and arranging signatures of both parties.
Inventory and check-in inspection fees: (all charges are inclusive of VAT)
Upon the landlord’s request we can arrange a full inventory and check-in of the property and its contents which will be carried out by an independent inventory company at the below cost.
No of bedrooms: Inventory: Check-in:
Studio £170.00 £90.00
1 bedroom £180.00 £100.00
2 bedrooms £190.00 £110.00
3 bedrooms £205.00 £125.00
4 bedrooms + £220.00 £140.00
Deposit registration fee: £90.00 (inc VAT)
This fee is not applicable for properties under the full management service.
Gas safety inspection:
EPC certificate: £90.00 (inc VAT)
To arrange an Energy Performance Certificate on behalf of the landlord
Additional property visits: £90.00 (inc VAT) per hour
To attend for specific requests such as neighbour disputes, additional visits are required to monitor the tenancy, or any maintenance-linked visit.
Insurance claims: 12% (inc VAT)
This fee is charged where Franklyn James are required to arrange works in relation to an insurance claim. Franklyn James will obtain competitive quotes, inspect the works upon completion and provide a written report to the landlord. The fee is calculated as a percentage of the gross cost of the works instructed and is charged upon completion of the works.
Serving notice: £90.00 (inc VAT)
Where we are required to serve the appropriate notice at the end of a fixed term tenancy or to terminate a periodic tenancy, we will do so subject to receipt of sufficient notice (10 weeks) and payment of the appropriate fee.
Application for property licenses: £90.00 (inc VAT)
Where we are requested to complete and submit a property license application on behalf of the landlord the above fee will be applicable.
Renewal fee (landlord’s share)
*Various, please see notes
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement.
*Notes – Renewal fees are calculated with a 1.2% (inc VAT) reduction from the original fee charged for the first term of the tenancy, subject to a minimum twelve month period. As an example, if you have an agreement for full management, your fee for this service would have totalled 18% (inc VAT), your renewal fee payment for the second term would reduce to 16.8% (inc VAT). This reduction will take effect upon each renewal of the tenancy (subject to the passing of a twelve month period) to a minimum fee of 9.6% (inc VAT) for full management, 8.4% (inc VAT) for rent collection and 6% (inc VAT) for let only.
Check-out fee (landlord’s share): £150.00 (inc VAT)
Cancellations: £220.00 (inc VAT)
Fee is payable to include Credit Reference Fee should the Landlord withdraw from the agreed tenancy (prior to commencement) once the offer letter has been signed by both parties.
Tax remittance: £220.00 (inc VAT) per annum
Where a landlord resides overseas and does not hold a valid exemption from HM Revenue & Customs, we will, as per our legal obligations, deduct tax from the rental income to be remitted to HM Revenue & Customs on a quarterly basis and the above charge will be payable.
Land Registry search fee: £5.00 (inc VAT)
To carry out Land Registry search for landlords who are unable to provide a copy of TR1 form confirming ownership of the property.
If you have any questions on our fees, please ask a member of staff.
Prior to move in:
Set-up fee (tenant’s share): £340.00 (inc VAT) for a single tenant
Referencing of a tenant – identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability, plus contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.
Additional tenant fee: £60.00 (inc VAT) per tenant
Processing the application, associated paperwork and referencing.
Guarantor fee (where required): £60.00 (inc VAT) per guarantor
Covers credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.
During the period of the tenancy:
Amendment fee: £160.00 (inc VAT)
Contract negotiation, amending terms and updating your tenancy agreement during the period of the tenancy.
Renewal fee (tenant’s share): £90.00 (inc VAT)
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement.
At the end of the tenancy:
Check-out fee: £150.00 (inc VAT)
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit.
Future landlord reference fee: £36.00 (inc VAT) per reference request.
Collating information and preparing a reference for a future landlord or letting agent.
Other fees and charges:
Late rent payment: £120.00 (inc VAT) per tenant
Interest on late rent payment payable to landlord: ranges between 4% and 8% above Bank of England Base Rate from date due, depending on tenancy agreement.
If you have any questions on our fees, please ask a member of staff