TENANCY RELATED COSTS
NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019
HOLDING DEPOSIT (per tenancy) : One week’s rent.
SECURITY DEPOSIT (per tenancy. Rent under £50,000 per year): Five weeks’ rent.
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.
FEES TO LANDLORDS
LEVEL OF SERVICE OFFERED
TENANT FIND: 100% of first months’ rent (inc VAT) INCLUDES:
RENT COLLECTION: 12% of monthly rent (inc VAT) INCLUDES:
FULLY MANAGED: 16.8% of monthly rent (inc VAT) INCLUDES:
ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE)
PRE-TENANCY FEES (All Service Levels): ARRANGING AND FACILITATING SAFETY CHECKS
If not provided on instruction or undertaken by the landlord. (*Costs quoted are a guide only and will be dependent on the number of bedrooms and/or size of the property and outbuildings):
START OF TENANCY FEES SET-UP FEE: £300 (inc. VAT) per tenancy.
PERMITTED OCCUPIER FEES: £120 (inc. VAT) per permitted occupier.
DEPOSIT REGISTRATION FEES (for insured tenancies: £50 (inc. VAT) per tenancy.
INVENTORY FEES: £70 - £350 (inc. VAT) Dependent on the number of bedrooms and/or size of the property and any outbuildings.
KEY CUTTING: Quote on request
CHECK-IN FEES: £60 - £300 (inc. VAT) per tenancy.
LANDLORD WITHDRAWAL FEES (before move-in): £300 (inc. VAT) per tenancy.
DURING TENANCY FEES
ADDITIONAL PROPERTY VISITS: £120 (inc. VAT) per visit.
RENT REVIEW/RENEWAL FEES: £100 (inc. VAT) per tenancy.
AMENDMENT FEE: £60 (inc.VAT) per clause amendment
RIGHT-TO-RENT FOLLOW-UP CHECK: £50 (inc. VAT) per check.
LANDLORD WITHDRAWAL FEES (during tenancy): £300 (inc. VAT) per tenancy.
END OF TENANCY FEES
CHECK-OUT FEES: £60 - £300 (inc. VAT) per tenancy.
FEES FOR THE SERVICE OF LEGAL NOTICES:
COURT ATTENDANCE FEES: £100 (inc. VAT) per hour
FINANCIAL CHARGES
INTEREST ON UNPAID COMMISSION: 5% above the Bank of England Base Rate from Due Date until paid.
CONTRACTOR REFERALS:
Vetted contractors may pay a referral fee to Jackson-Stops. The fee paid will be included within the contractors invoice and could be up to 10% (inc. VAT) of the total invoice amount depending on the service provided, the details of which are available on request. This will not affect the final amount payable by the Landlord.
SUBMISSION OF NON-RESIDENT LANDLORDS TAX TO HMRC: £30 (inc. VAT) per Landlord quarterly.
To remit and balance the financial Return to HMRC on both a quarterly and annual basis.
ADDITIONAL HMRC REPORTING FEES: £30 (inc. VAT) per request.
Responding to any specific queries relating to either the quarterly or annual Return from either the landlord or HMRC.
FEES FOR PROVIDING AN ANNUAL INCOME AND EXPENDITURE SCHEDULE: £50 (inc. VAT) annually.
SAME-DAY PAYMENT FEES: £30 (inc. VAT) per payment. Should the landlord request a payment faster than the agreed timescales within their existing Terms of Business, this covers the costs of providing a same-day payment service where it can be provided.
OTHER FEES AND CHARGES
ARRANGEMENT FEES FOR WORKS OVER £5000: up to 10% of net cost (inc. VAT)
VACANT PROPERTY MANAGEMENT FEES: £60 (inc. VAT) per visit.
DEPOSIT TRANSFER FEES: £60 (inc. VAT) per deposit.