TENANCY RELATED COSTS

NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019

(You will need to provide proof of declared income to = 30 x the Rental figure e.g. 30 x £1000 = £30,000 income required)

HOLDING DEPOSIT (per tenancy): One week’s rent.

This is to reserve a property. Please Note: This will be withheld by the Agent if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

SECURITY DEPOSIT (per tenancy. Rent under £50,000 per year): Five weeks’ rent.

This covers damages or defaults on the part of the tenant during the tenancy.

SECURITY DEPOSIT (per tenancy. Rent of £50,000 or over per year): Six weeks’ rent.

This covers damages or defaults on the part of the tenant during the tenancy.

UNPAID RENT: Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent.

Please Note: This will not be levied until the rent is more than 14 days in arrears.

LOST KEY(S) OR OTHER SECURITY DEVICE(S)

Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

VARIATION OF CONTRACT (Tenant’s Request): £50 (inc. VAT) per agreed variation.

To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

CHANGE OF SHARER (Tenant’s Request): £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher.

To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

EARLY TERMINATION (Tenant’s Request)

Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

A Landlord’s Summary of Jackson-Stops (South Manchester) Fees & Charges – full details can be found in the Terms and Conditions of Agency

LETTING ONLY – A fee equal to 90% of one month’s agreed rent inclusive of VAT

LETTING AND RENT COLLECTION – A fee of 60% of one month’s rent plus 3.6% of all rents payable inclusive of VAT

LETTING, RENT COLLECTION AND FULL MANAGEMENT – A fee of 60% of one month’s rent plus 12% of all rents payable inclusive of VAT

Benefits included at no additional cost on all services are: • Photography as the agent deems appropriate. • Deposit registration. • Inventory & Schedule of Condition. • Legionella Risk Assessment. • Rent Guarantee & Legal Expenses, 6 months cover with one month’s excess up to £8000 pcm

ADDITIONAL FEES AND CHARGES TO A LANDLORD
FEES IRRESPECTIVE OF SERVICE LEVEL

1. Additional property visits over and above those included in the Full Management Service £120.00 inclusive of VAT. To attend for specific requests such as neighbour disputes; more visits are required to monitor the tenancy; or any maintenance-linked visit.

2. Tenancy Renewal Fee - £120 inclusive of VAT. Contract negotiation, amending and updating terms, arranging a tenancy addendum and advising the TDS. (When instructed on the Let Only Service).

3. Tenancy Renewal Fee – 6% including VAT of the newly agreed annual rent subject to a maximum of £1200 including VAT. Contract negotiation, amending and updating terms, arranging a tenancy addendum and advising the TDS, where applicable. Serving of any required notice (other than a Form 6a (Section 21)) £100 + VAT per notice per occasion. (When instructed on the Let Only Service)

4. Where a Landlord requires more than two contractors quotes a fee of £60 inclusive of VAT per quote.

5. All overseas postages, overseas telephone calls and faxes maybe be subject to additional charges.

6. CHAPS Payment £60 inclusive of VAT (as and when required)

7. Should the Landlord require a representative of Jackson-Stops to attend Court for whatever reason the fee is £240 inclusive of VAT per hour.

8. Refurbishments Works Carried out by Jackson-Stops Over the Value of £1000 will be 12% of total works inclusive of VAT.

9. The Agents are entitled to retain rebates and trade discounts applicable in the normal course of trade.

FEES SPECIFIC TO THE LET ONLY SERVICE IN ADDITION TO 1 -13 ABOVE – if instructed by the Landlord

14. Checkout Fee (landlords share) £300 inclusive of VAT.

15. Deposit Dispute Assistance* - maximum of £300 inclusive of VAT (included in managed service)

* Jackson-Stops & Staff will only be able to assist a Landlord with a Deposit Dispute on a Letting Only service, where the inventory was created by Jackson-Stops or a representative of Jackson-Stops and where the deposit is held under the Tenancy Deposit Scheme (TDS) rules.

FEES SPECIFIC TO THE RENT COLLECTION SERVICE IN ADDITION TO 1 - 13 ABOVE

16. A charge of £30.00 inclusive of VAT charge for arranging and maintaining correct records for the statutory annual Gas and Electrical Safety Checks.

17. Charge for an Annual Financial Statement - £30 inclusive of VAT.

18. Submission of non-resident landlords receipts to HMRC £120.00 inclusive of 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.

19. Checkout Fee (landlords share) £300 inclusive of VAT. (If instructed by the Landlord)

20. Deposit Dispute Assistance* - maximum of £300 inclusive of VAT (included in managed service) (If instructed by the Landlord)

*Jackson-Stops & Staff will only be able to assist a Landlord with a Deposit Dispute on a Letting Only service, where the inventory was created by Jackson-Stops & Staff or a representative of Jackson-Stops and where the deposit is held under the Tenancy Deposit Scheme (TDS) rules.

FEES SPECIFIC TO THE MANAGEMENT SERVICE IN ADDITION TO 1 - 13 ABOVE

21. Caretaking: If there are times when the Property is vacant between tenancies the Property will automatically come under the caretaking service at £30 inclusive of VAT per week (subject to the agent being in funds) .

22. Checkout Fee (landlords share) £240 inclusive of VAT. Agree with tenant check out date and time appointment. Instruct inventory provider to attend. Negotiate with landlord and tenant any disbursement of the security deposit. Return deposit as agreed with landlord and tenant to relevant parties. Remit any disputed amount to Scheme for final adjudication. Instruct contractors; obtain quotes; organise repairs /replacement/cost of any broken or missing items.