Our fees to Landlords

We like to be clear to our customers what we do and how much we charge for it. Below is a list of our charges together with a description of what we do. The law states that we must show a VAT inclusive price when we publish our fees.

We offer two types of service, Fully Managed or Tenant Find (sometimes called Let only), some parts of our service are common to both, so where this is the case this is listed accordingly.

Common service

Regardless of the type of service chosen, the section below is always relevant.

  • We will advertise your property together with a floorplan on our website, and property portal(s)
  • We accept only fully employed tenants, credit, employer and Landlord (as applicable) references will be obtained
  • We will create a comprehensive written inventory of the property
  • We will prepare a comprehensive written tenancy agreement for the agreed period, fully compliant with UK law and guidelines in force

Fully managed service

We must show a VAT inclusive price when we publish our fees, so our full management fee is 14.4% including VAT (this equates to £12% +VAT).

This includes:

  • Rent collection and payment of the same to your UK bank account
  • In the event of non-payment by the tenant report this to you and provide advice on rent arrears actions
  • Deduct commission and other works, ie maintenance and anything specific as instructed
  • Advise relevant utility providers of changes of occupancy
  • Undertake two inspection visits per annum and notify landlord of the outcome
  • Arrange routine repairs and instruct approved contractors

We offer a comprehensive Rental Warranty Product to our Fully Managed Landlords, the cost of this is 3.54% including VAT (this equates to 2.95%+VAT), please contact us for more details

Setup & letting fee (Landlords Share):

£150.00 including VAT, payable  (FULLY MANAGED ONLY)

  • Agree the market rent and secure a tenant in accordance with the landlord guidelines
  • Advise on refurbishment
  • Provide guidance on compliance with statutory provisions and letting consents
  • Carry out accompanied viewings (as appropriate)
  • Market the property and advertise on relevant portal(s)
  • Erect board outside property in accordance with Town and Country Planning Act 1990
  • Advise on non-resident tax status and HMRC (if relevant)
  • Create comprehensive written inventory (including digital photographs if fully managed)

Tenant Find, sometimes called Let Only:

Our fee is one months rent including VAT.

This includes:

  • Collection of the first months’ rent and tenancy deposit
  • Arranging the tenants deposit to be protected with Government authorised scheme
  • Provide tenant with method of payment and send standing order to bankers
  • Deduct any pre-tenancy invoices (as instructed)

List of our other fees

  • Deposit Registration Fee:
  • (Fully managed only) £12.00 (inc VAT)
  • Register landlord and tenant details and protect the tenancy deposit with The Dispute Service
  • Provide the landlord and tenant(s) with a Deposit Protection Certificate and Prescribed Information within 30 days of start of tenancy
  • Additional property visits: £30.00 (inc VAT)
  • To attend the property where specifically requested by the landlord for reasons such as neighbour disputes; if more visits are required to monitor the tenancy; or any maintenance-linked visit
  • Renewal Fee (landlords share) £54.00 (inc VAT)
  • Rent review advice, negotiate with tenant, amending and updating terms and arranging a further tenancy and agreement
  • Update registered deposit protection details with The Dispute Service
  • Provide the landlord and tenant(s) with the updated Deposit Protection Certificate
  • Duplicate rental statements £3.00 (inc VAT)
  • Free of charge if Landlord receives email statements, otherwise cost above
  • Annual tax Statements £42.00 (inc VAT)
  • If specifically requested by the landlord, cost of providing a report, per property.

If you have any questions or would like to discuss our fees please do not hesitate to contact us.

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CONTACT


Telephone 01733 567 124
or email Letters Home Rentals

Letters Home Rentals
35 Broadway, Peterborough,
Cambridgeshire, PE1 1SQ

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