Landlord Fees

Our interest is in longterm, trusted landlord relationships so displaying fees clearly and concisely for all to understand is key.

Below we have set out how our fees are calculated should a Landlord place a property with us.

Fee TypeCost £ including VAT*Explanation
Tenancy Management & Property Management CommissionBetween 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£90Agree 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 – £174Preparing 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 annumRegistering 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 – £149Production 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£90Preparation and execution of the renewal agreement, and negotiating terms of the tenancy extension.
Arranging an annual Gas Safety Certificate£20Administrating and arranging a gas safety certificate, distributing for legal compliance.
Property Visits£40Visiting a property to provide keys to contractors or visitors who will not collect them from the office.
Attending HMO Visit£50Meeting 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£150Undertake 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£40Undertaking the inspection, checking safety, production of report and recommendations.
Carbon Monoxide Alarm£39Supply & Fit lithium battery Carbon Monoxide Alarm to property; complying with current legislation.
Smoke Alarm£39Supply & Fit lithium battery Smoke Alarm to property; complying with current legislation.
Energy Performance Certificate£120Commissioning 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 keyArranging and cutting of an additional property key and charging to clients rent account.
One Off Management Service£50Arranging a one off repair for non managed properties.
Floor Plan£50Visit property, preparation of a Property floor plan,  submission to various platforms for marketing and licensing requirements.
Rent & Legal Protection3% 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 Service0.9% of purchase priceResearch 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 £150Commissioning 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 Servicefrom £250Undertake 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 £249Undertake Management for minor internal redecoration refurbishment between tenancies.
One Off Mid Term Inspection£40Arranging 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 documentIssuing of duplicate documentation, subject to GDPR compliance.
Legionella risk assessment£175Commissioning a Legionella risk assessment, advise on findings to meet current legal requirements.
Landlord Income vs Expenditure Report£25 per propertyA yearly rental income and expenses report.
Supply & Fit Light bulbs£20 plus £4 per bulbVisit property, supply & fit light bulbs as required
PAT Testing£60 plus £7.50 per applianceCommissioning an electrical Portable Appliance Test, advise on findings to meet current legal requirements.
Change Of Tenancy£250One 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£100Tenant leaving early before the end of a fixed term agreement: Surrender negotiations for re-marketing property for new tenants.
Tenancy Dispute Service Claim£200Submission 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.

LANDLORD SERVICES

Choose the service that's right for you

We offer three core services that cover everything in the letting process from marketing your property to managing a tenancy. Have a look at our service breakdown to see which is suitable for your needs as a landlord.

LANDLORD SERVICES

The Parks process to successful letting

We are dedicated to letting your property quickly and, crucially, to the right tenant. Our tenant selection process in handled entirely in house meaning we take full responsibility for finding the right tenant. Checks and references are handled by our team with no 3rd parties to slow things down.

LANDLORD SERVICES

Taking care of laws & legislation

Parks are here to guide you through the all important legal checklist you will be required to fulfil as a registered landlord. With over 25 years experience operating to the highest legal standards, we pride ourselves in always being up to date with new and changing laws.

All in all, we are very pleased with the professional service we have received to date. I only wish I had met more agents like this when I was a tenant for 21 years.

Mrs Constantinou, Landlord, 2018

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