Below we have set out how our fees are calculated should a Landlord place a property with us.
|Fee Type||Cost £ including VAT*||Explanation|
|Tenancy Management & Property Management Commission||Between 9% -11% (Excluding VAT)||Advising on rental market conditions and legal requirements. Advertising your property: digital advertising, social media exposure, city centre shop front exposure. Negotiating tenancy terms on Landlords behalf with prospective Tenants. Managing legal compliance of tenancy. Rent control and security deposit compliance. Property management and inspections when instructed.|
|10.8% – 13.2% (Including VAT)|
|Tenancy Agreement||£90||Agree terms with tenants. Creating Assured Shorthold Tenancy Agreement, adding additional special clauses, addendum and collating associated paperwork to comply with Housing Acts. Obtaining signatures confirming receipt of agreement and associated documentation|
|Inventory & Schedule of Condition Preparation||£132 – £174||Preparing an inventory & schedule of condition, confirming content with tenants and distributing signed document. Prices depend on the size of the property and the level of furnishing.|
|Tenancy Deposit Protection (TDP)||£48 per annum||Registering tenant security deposit with an appointed government scheme, issue certificate and supporting documentation to tenant. Advising and receiving Instructions for deposit returns.|
|Check Out Inspection||£63 – £149||Production of a Schedule of Condition & Inventory. Liaising with the landlord for dilapidations and negotiating with tenants. Prices depend on the size of the property and the level of furnishing.|
|Tenancy Extension and Renewal Agreement||£90||Preparation and execution of the renewal agreement, and negotiating terms of the tenancy extension.|
|Arranging an annual Gas Safety Certificate||£20||Administrating and arranging a gas safety certificate, distributing for legal compliance.|
|Property Visits||£40||Visiting a property to provide keys to contractors or visitors who will not collect them from the office.|
|Attending HMO Visit||£50||Meeting with the Housing Environmental Officer, arranging access if the property is tenanted and undertake a walk through answering tenancy related questions. A report of the visit can be provided.|
|MEES Exemption Application||£150||Undertake the completion and submission of the application, including attaching the evidence, and offer guidance on the process. The Landlord must have attempted to carry out every option to increase the efficiency of the property before an exemption is considered.|
|Void Property Inspection||£40||Undertaking the inspection, checking safety, production of report and recommendations.|
|Carbon Monoxide Alarm||£39||Supply & Fit lithium battery Carbon Monoxide Alarm to property; complying with current legislation.|
|Smoke Alarm||£39||Supply & Fit lithium battery Smoke Alarm to property; complying with current legislation.|
|Energy Performance Certificate||£120||Commissioning a Property Energy Performance Certificate, advise on findings to meet current legal requirements. Submit to (HM Government) Domestic Energy Performance Certificate Register.|
|Key Cutting||£10 plus cost of key||Arranging and cutting of an additional property key and charging to clients rent account.|
|One Off Management Service||£50||Arranging a one off repair for non managed properties.|
|Floor Plan||£50||Visit property, preparation of a Property floor plan, submission to various platforms for marketing and licensing requirements.|
|Rent & Legal Protection||3% of the monthly rent per calendar month|
An insurance product to safeguard you if your tenant is in breach of their tenancy agreement including the payment of unpaid rent. Legal cover for repossession and defense.
* Please see policy on request.
|HMO & Selective Licence Application Preparation||£225|
Advise on requirements for an HMO Licence. Visit property, complete a check list for HMO requirements. Collate supporting documentation for the Licence application including preparation of a Property Floor Plan to Local Authority requirements. Completion of application on owner behalf. Submission of the Application, Documentation and Licence fee to the relevant Local Authority.
Not including the fees payable to the relevant Local Authority.
|Acquisition Service||0.9% of purchase price||Research market for applicable property for purchase to clients specification and budget. Advise on refurbishment specification to obtain maximum market rental return. Obtain refurbishment quotations where necessary. Negotiate price on purchasers behalf. Chase purchase progress as necessary.|
|NICEIC Electrical Safety Certificate||from £150||Commissioning a 5 year Electrical Certificate, advise on findings to meet current legal requirements.|
|Balance Take On Service||£240|
Transferring an existing tenancy to Parks Portfolio Management. Visit property to undertake an appraisal of condition and current market rental value. Undertake legal documentation audit to original tenancy file, issue documentation to tenants where required. Undertake right to rent checks where required. Arrange transfer of tenants deposit from original deposit scheme, register with TDS and issue legal paperwork.
NB. New Tenancy Agreement (Tenant Fees Act 2019 Compliant), Tenancy Deposit Protection and commission charges apply.
|Project Management Service||from £250||Undertake Project Management programs for kitchens, bathrooms, redecoration, electrical and gas installations. Includes kitchen designs, weekly progress reporting and end of project report with a snagging list. Charges are based on a 10% plus VAT cost of final invoice amount of work undertaken.|
|Refurbishment Service||£50 to £249||Undertake Management for minor internal redecoration refurbishment between tenancies.|
|One Off Mid Term Inspection||£40||Arranging tenant access for a mid-tenancy inspection, undertaking the inspection, production of report and recommendations for remedial work and condition.|
|Duplicate Documentation||£10 – £30 per document||Issuing of duplicate documentation, subject to GDPR compliance.|
|Legionella risk assessment||£175||Commissioning a Legionella risk assessment, advise on findings to meet current legal requirements.|
|Landlord Income vs Expenditure Report||£25 per property||A yearly rental income and expenses report.|
|Supply & Fit Light bulbs||£20 plus £4 per bulb||Visit property, supply & fit light bulbs as required|
|PAT Testing||£60 plus £7.50 per appliance||Commissioning an electrical Portable Appliance Test, advise on findings to meet current legal requirements.|
|Change Of Tenancy||£250||One or more tenants changing within a fixed term of an agreement: reference new tenant(s), new contract negotiation, re-issue tenancy agreement, right to rent check tenant(s), re-issue guarantee documents times number of tenants, reconcile inventory with outgoing and in-going tenants, reconcile tenancy account, repay deposit to out going tenant, re protect new deposit and sign new tenancy agreement.|
|Early Termination Charge||£100||Tenant leaving early before the end of a fixed term agreement: Surrender negotiations for re-marketing property for new tenants.|
|Tenancy Dispute Service Claim||£200||Submission of deposit dispute claim to TDS with tenancy documents and itemised claim with supporting evidence.|
*VAT charged at prevailing rate
Parks are enrolled in the Client Money Protection scheme provided by ARLA. The Client Money Protection (CMP) Scheme is a compensation scheme run by the National Federation of Property Professionals (NFOPP) which provides compensation to landlords, tenants and other clients to protect clients funds.
If you would like to know any further details of our Fees please call 01273 202089 and speak with a letting specialist.