FEES TO LANDLORDS
Remember not all agents are the same – please remember to compare expertise and knowledge – not just fees when selecting your agent of choice.
We provide 3 main types of service to all our landlords although a bespoke service can be offered if you have any special requirements.
FULL MANAGED
Full Management and Rent Collection fees vary from 10 – 13% per month plus VAT. Reduced rates available for multi portfolio landlords and historic returning clients.
A monthly set up fee is also charged at the onset of each new tenancy. This varies dependant on the size and rental of the property.
Tenancy Deposit Registration fee – ranges from £30 - £35 including VAT – also payable on renewal.
Check In Fee – FREE of CHARGE
Check Out Fee – dependant on the size of the property, location and rental.
Tenancy Renewal Fee – dependant on the term and rental of the property.
Inventory Fee – externally sourced and dependant on size and location of the property.
LET & RENT COLLECTION
Rent Collection fees vary from 8 - 10% per month plus VAT. Reduced rates available for multi portfolio landlords and historic returning clients.
A monthly set up fee is also charged at the onset of each new tenancy. This varies dependant on the size and rental of the property.
Tenancy Deposit Registration fee – ranges from £30 - £35 including VAT – also payable on renewal.
Check In Fee – FREE of CHARGE
Check Out Fee – dependant on the size of the property, location and rental.
Tenancy Renewal Fee – dependant on the term and rental of the property.
Inventory Fee – externally sourced and dependant on size and location of the property
LET ONLY- (tenant find only)
These fees are based on the monthly rental and the rental term. Please enquire for more details.
TENANCY FEE
The tenancy referencing / administration fees are as follows:
Leamington Spa
£225* + VAT which covers one person.
£175* + VAT for each additional person.
£450* + VAT Company Let.
Rugby
£225* + VAT which covers one person.
£100* + VAT for each additional person.
£420* + VAT Company Let.
This is payable immediately upon deciding to apply for a tenancy. The tenancy fee is NON-REFUNDABLE should you decide not to pursue the tenancy (irrespective of whether or not references have been applied for) or alternatively if your application is declined.
HAVE YOU SOLD YOUR PROPERTY?
If you are in the process of selling your property and wish to rent a property currently advertised for rental the property will not be taken off the market UNLESS you have exchanged contracts. If you have not exchanged contracts then a non-refundable deposit may be requested. This will be paid to your landlord if the tenancy does not proceed as a result of a change in your circumstances.
BOND
This is equivalent to one months rent plus £300 and must be paid by building society cheque or bankers draft the day you sign your tenancy agreements (personal cheques will only be accepted if submitted 7 days prior to signing). No cash will be accepted.
Eg: Rent £300 Bond £600.00
RENT
Payable on the day of signing by building society cheque, bankers draft, debit or credit card. Made payable to Newman Residential Lettings. No cash will be accepted.
CHECK IN FEE - £100* PLUS VAT
An independent inventory clerk will meet you at the property the day your tenancy starts and check the Inventory & Schedule of Condition with you. This fee becomes payable the day your tenancy starts together with your rental and deposit.
TENANTS LIABILITY INSURANCE
It is a mandatory requirement on all our tenancies that you protect your landlords fixtures and fittings against accidental damage/loss. It is not a mandatory requirement that you insure your own possessions – this is your choice although we recommend you do. Proof that cover is in place to cover the landlords fixtures and fittings will be required prior to the release of keys and the signing of a tenancy agreement.
IF YOU HAVE YOUR OWN POLICY IT MUST MEET THE FOLLOWING CRITERIA: PROVIDES COVER AGAINST ACCIDENTAL DAMAGE TO THE LANDLORDS FIXTURES AND FITTINGS (minimum £2,500) .
RIGHT TO RENT
Under the Immigration Act 2014, Right to Rent Checks are now mandatory across England for tenancies starting on or after February 1st, 2016. It is our obligation to check that a tenant or lodger can legally rent a residential property in England and before the start of a new tenancy, we will request the necessary documents and make checks for all tenants aged 18 and over, even if they’re not named on the tenancy agreement.
TENANTS DEPOSITS
All deposit are registered with The Tenancy Deposit Service.
Additional Fees may apply to Landlords throughout the duration of the tenancy and further information on these can be obtained by requesting a copy of our Agency Terms of Business where each area of the tenancy process is comprehensively covered and explained.
We operate on a NO LET – NO FEE basis so if we do not let your property then you do not pay us any fees whatsoever.
We have been established in the Residential Lettings and Property Management Market for over 27 years. WE are fully regulated by the National Approved Letting Scheme (NALS), The Property Ombudsman and provide Client Money Protection. We are regularly audited to ensure full compliance with all relevant legislation, accounting laws and codes of conduct.
For further information on how we can help you successfully let what’s probably your most valuable asset then please contact us now.
Remember not all agents are the same – please remember to compare expertise and knowledge – not just fees when selecting your agent of choice.
*ALL FEES ARE SUBJECT TO CARD TRANSACTION FEES (50P FOR A DEBIT CARD OR 2.5% FOR A CREDIT CARD)
