IN ORDER TO COMPLY WITH THE CONSUMER RIGHTS ACT 2015 C.15 PART 3 CHAPTER 3 CHOICES HEREWITH CONFIRM THAT THE FOLLOWING FEES MAY BE APPLICABLE TO A LANDLORD WHEN CHOICES ARE ACTING AS AGENT IN THE LETTING OF A PROPERTY:
Fees: Unless otherwise agreed in writing, the following Standard Letting and Management Fees will apply to all tenancies
Special Offer fees
These apply to “full management” where the property is offered through Choices for a minimum period of Eighteen months on our standard terms and full Rent Guarantee. If these conditions are broken Choices reserve the right to recharge the landlord based on our standard fees plus rent guarantee discount.
Month 1- 0% x six months rent plus
Rent Guarantee: Nil charge 6 months
Month 7 -10% x Annual rent + 5% x one months rent. Rent Guarantee 3% x 12 months rent.
Months 8-18 – 5% per month
Month 19 – As per our standard terms i.e. 12% x Annual rent + 3% per month plus Rent Guarantee renewal discount.
All the above fees attract vat at the prevailing rate as appropriate. A quote including vat can be provided on request.
Letting and rent collection Fee.
Our fee of 12% + vat of the yearly rent is payable in advance and on each anniversary where a tenant introduced by Choices occupies the property or any other property owned by the Landlord and is non refundable. Should the tenant(s) leave within the chargeable year, Choices will endeavor to find a new tenant(s) without further charge to the Landlord (other that any partial fee applying to any increased rent, or admin charges). Landlords will receive a fee credit for any void period experienced provided the property remains with Choices. Where Choices do not collect the rent an invoice will be raised for fees due and payment is due within 7 days of that invoice. Interest and charges may apply for late payment.
Property Management; an additional 3% + vat of the gross rental due, payable monthly in advance.
“Full Management” is taken to mean all the above services
Potential Additional fees/costs
Preparation of Tenancy Agreement, or checking and arranging signature of the Landlord’s own Agreement at beginning of tenancy, including tenant’s references: £165.00 inc vat
Inventory and Schedule of Condition (all prices below are inclusive of vat) will be carried out by Choices :
Unfurnished Properties £95.00
Furnished 0 – 5 Bedroom £125.00
Furnished 6 + Bedrooms POA
Accompanied check in £60.00
Out Inventory £95.00
Revised Inventory for relet and send to tenants £60.00
Final Out Inventory Report £125.00
Inspections (extra to Contract) £35.00
Administration charge for Tenancy Agreement renewals, whether fixed or periodic £95.00 inc vat
Rent Guarantee: Rent discount of 3% deducted annually in advance. Terms and conditions on request.
Gas Safety and other statutory requirements will be carried out and charged to the Landlord at the standard rate prevailing at the time, POA.
Other Appropriate charges: Charges may include, but are not limited to; insurance claims, redirecting mail, supervision major renovations, overseas telephone calls/ faxes, tax service and dealing with Statutory and Lenders Notices. Registering Deposit £45.00 inc vat. Rent Reviews: Where this results in an increased rent, an additional charge equal to one months increase plus vat with a minimum £60.00 inc vat. Tenancy Renewal £95.00 inc vat.
Charges may be levied for any work required in evicting tenants or pursuing arrears of rent in Court where the landlord has not chosen the fully managed service (POA). These may be able to be claimed from the tenant.
All charges are subject to review at the discretion of Choices and may be increased on one month’s written notice. All fees will be collected from the rent as they become due and a statement sent.
Client Money Protection is provided by NALS – 01242 581712
Client Redress Scheme is provided by the Property Ombudsman – 01722 333306
Choices are members of the Tenancy Deposit Scheme – www.tenancydepositscheme.com