lettings fees

Landlord Fees & Services

We provide three core service levels.

Fully managed service covers every aspect of the regular management of the property, and is charged at 13%+VAT (effective rate 15.6%) against the rental income.

Contact managed service includes all the works required at the onset of a tenancy, plus rent collection and ‘first call’ services throughout the tenancy. This is charged at 10%+VAT (effective rate 12%) against the rental income.

Tenant find only is charged at half of one month’s rent, plus VAT – so, if the rent is £600pcm, the fee will be £300 plus £60 VAT. If the rent is £1000, the fee will be £500 plus £100 VAT.

For Landlords choosing Contact Management or Tenant Find Only services, additional actions can be commissioned on an ad-hoc basis, as required and as per the fee schedule outlines in detail below.

For all Landlords, we can make arrangement for the commissioning of third party services to provide obligatory documentation (such as Gas Safety certification or EPC provision), and recommended services (such as Legionella testing, PAT testing, and third-party inventories). Prices for these services will be billed by Underhills at the rates indicated below.

Service

Comprising

Cost

Full Management

Including but not limited to: Marketing property; set-up tenancy; lodging deposits; collecting rent; all in-house administration of tenancy; all arrangement of third party services; all issuing of notices, letters, etc; regular inspections & condition reports; all check-out services; other duties as required for the management of the tenancy.Excludes: third party costs (eg Gas Safety, third party inventories, repair costs etc). 13%+VAT Effective  rate 15.6%

Contact Management

Including but not limited to: Marketing property; set-up tenancy; lodging deposits; collecting rent; providing the first point of contact for tenants on all issues; resolution of simple issues where practical; reporting of all matters in a timely fashion, with recommended responses; serving basic notices and check-out processes.Other services may be purchased on an ad-hoc basis. 10%+VAT Effective rate 12%

Tenant Find Only

Marketing property; set-up tenancy; lodging deposits; collecting first month’s rent. 50% of 1 month’s rent + VAT Effective rate 60%
Landlords withdrawing a property from either fully managed or contact managed services with a tenant in situ, are required to issue Underhills with 2 months’ notice in writing on the calendar anniversary of the rent due date; and to pay a termination fee equivalent to 1 months’ rent plus VAT (effective rate 120% of the monthly rental value).

 

In House Services

Service

Ad Hoc Charge

Full Management Charge

Initial Condition Report

£150 + VAT (£180 total) Included in fee

Periodic Inspection

£75 + VAT (£90 total) Included in fee

Issuing Section Notice

£25 + VAT (£30 total) Included in fee

Issuing rent arrears letter

£10 + VAT (£12 total) Included in fee

Preparing Documents for Dispute Resolution

£150 + VAT (£180 total) Included in fee

Renewing a tenancy agreement at Landlord’s request

£50 + VAT (£60 total) Included in fee

Accompanying visits to property for tradespeople

£25 + VAT (£30 total) Included in fee

Arranging access to property with tenants

£10 + VAT (£12 total) Included in fee

Arranging quotes from tradespeople for works etc.

£10 + VAT (£12 total) Included in fee

Advise on Non-residency status and/or HMRC requirements

£50 + VAT (£60 total) Included in fee

 

Third Party Services

Third Party services include the following, and are subject to quotation as they are dependent on the size and scope of the property and the works required. Charges are made through Underhills, but the works are commissioned from external contractors at our preferential rates:

Energy Performance Certificates (EPC)
Independent Inventories
Gas Safety Certificate
Electrical Installation Condition Report (EICR)
Legionnaires Risk Assessment
Portable Appliance Testing (PAT)

…and other certifications as may be required from time to time.

Tenants Fees

All fees shown are inclusive of VAT at the appropriate rate.

Service

Comprising

Cost

Reference Fee: (per adult tenant)

Acts as de facto holding deposit

Processing external reference and creation of Tenancy Agreement, which must include all intended occupants over the age of 18.Includes checks on ID, Right to rent, credit check, past landlords references, employment and salary confirmations, visa and immigration checks, and other referencing processes as required.References are obtained on a strictly confidential basis and tenants shall not be entitled to any disclosure. To comply with anti-money laundering legislation we required to see original documents of photographic identification for all applicants.We do not charge tenants any holding deposits, and paying for referencing ensures no other prospective tenants will be offered the property, nor put through referencing, until the results are returned to confirm that referencing has been passed. £155 per person

Reference Guarantor

Only where required

On occasion, where either we understand in advance that a tenant’s income falls below a certain ration of the rent, or as and when an initial reference required further reassurances to allow a tenancy to proceed, we may need to identify and reference a legal guarantor for the rent, We only do this where it is necessary to approve a tenancy. £45 per guarantor

Tenancy Amendments

When requested by tenants

Negotiating and agreeing a tenancy agreement renewal, extension or amendment between you and your landlord, including any special clauses or requirements which have been requested, once negotiations are finalised produce final copies for signature. This cost is payable at the time of the renewal, extension or amendment. £75

Lost Security Items

Obtaining necessary permissions, sourcing providers and travel costs. £25 plus item costs

Tenancy breach/Rent arrears letter

For each letter the Landlord’s Agent, acting reasonably, has to send to the Tenant concerning breaches of the tenancy agreement or non-receipt of the full rent payment by the rent due date. £25 per letter

Late Payment of Rent Fee

For the administration and processing required from a breech of the tenancy agreement requirement to pay rent due in a timely manner £60 per week

Unpaid/Return Rent payments

For any payment presented to the Landlord’s Agent’s bank but returned, refused or re-presented by the bank for any reason. This fee will be payable for each presentation which fails. £25 per breach