TOTAL + VAT

Set Up Fee includes agreeing the market rent and finding a tenant in accordance with the landlord’s guidelines. The fee also includes advertising the property online (Rightmove, social media, NS Estates Website) and photography package. We will carry out accompanied viewing.

It includes negotiation of the terms of the tenancy, vetting of the tenants for suitability for the tenancy, preparing the required paperwork for the tenancy. The fee covers advising all utility suppliers of tenancy change. It also includes advising on refurbishment, providing guidance on compliance with statutory provisions and lettings consent. This will also include the cost of tenant referencing, the checks will include credit status, current/previous employment, current or past landlord and take in to account any other information to help assess the affordability criteria of the applicant(s). Depending on the outcome of the applicants earning or overall financial position may require a Guarantor. The cost of referencing a guarantor is included in the fee. Should they be a situation whereby you have consented to a permitted occupier, appropriate documentation to reflect this is also included in the fee. We will carry out Right to Rent checks on the applicants and any other adult occupier of the property at the commencement of the tenancy. We will carry out further checks on adult occupant with time-limited Right to Rent or where you have instructed us to commence a Right to Rent check on a new adult occupier where is a change in the occupancy during the tenancy. We will also register you tenants deposit into a protection scheme which will be held for the duration of the tenancy.

Smoke/Carbon monoxide alarms.  Checking the alarms work on the first day of tenancy.

 On the 1^st October 2015 the Guidance was updated to state the smoke/carbon monoxide alarms must be tested on first day of the tenancy this will be included in the setup fee

£400 –

£600 + VAT

Monthly Fee % of the monthly rent.

This is a monthly commission calculated as a percentage of the monthly rent, for collecting the remitting the month rent received, deducting commissions and other works, also supplying monthly statements. When necessary, it includes the pursuance of unpaid rent and providing advice on rent arrears action and creating a plan of action with the tenant and yourself for a payment plan if needed. The fee will also include arranging of repairs, holding of the keys during the tenancy and the serving of necessary notices.

12% + VAT

Inventory Fee It is important to have a detailed inventory which provided a detailed condition or catalogue of items in the property along with photos to represent the condition. It will be a binding contract between the landlord and the tenant of condition of the property on the first day of the tenancy.

Minimum £100 + VAT

Check Out Fee This fee covers checking out the tenant on the last day of tenancy, also carrying out a detailed check out report which the inventory will be used to check with property from the start to end of tenancy. It will be a report which will state the condition and any damaged caused throughout the tenancy also advise on wear and tear.

£70.00 + VAT

Deposit Protection Fee This fee covers the costs to hold the tenants deposit in our credited scheme, ‘My Deposits’.

£25+VAT

Renewal Fee If both tenant and landlord agree to extend the tenancy for another fixed term this cost will cover the contract negotiations, amending and updating the terms and arranging a further tenancy agreement.

£50 + VAT

Management Takeover Fee This fee is for a take over management service from your current letting agent and check of the current tenancy and provide a new tenancy if applicable. We will also visit the property for a property inspection to check all smoke and carbon alarms are in working order and compliance check and transfer of the deposit.

£150 + VAT

Property Inspection This fee is for the agent to provide a extra visit to the property.

To check the condition, resolve neighbour dispute ETC.

£40 + VAT

Gas Safety Inspection The Gas Safety (Installation and Use) Regulations 1998 state that all rented properties with a gas supply much have a valid gas safety certificate at the commencement of and throughout the tenancy and must be tested for gas safety on an annual basis. NS Lettings can appoint a Gas Safe Registered engineer to carry out the inspection, which includes testing of the carbon monoxide detectors and smoke alarms in the property. The fee also covers arranging access, retaining the certificate.

£70 + VAT

Electrical Installation Condition Report NS Lettings to appoint a NICEIC qualified engineer to conduct a basic safety and condition report on the electrical supply.

£110 + VAT

Contractors Commission NS Lettings reserves the right to make a commission charge to any contractor instructed by us on behalf of the landlord up to 14.4% (12%+VAT) of the net cost of the work. If the works are less than £100 then NS Lettings reserves the right to charge 12%+VAT on £100.00

12% + VAT

Dispute Fee Post check out if any proposed deductions of the security deposit are disputed by the tenant, this fee covers the compiling of the relevant to documents to support the landlord position.

£50 + VAT

Non-Routine Managed Service Where we are required to provide non routine management services (e.g Fire, Flood, Subsidence and dealing with insurance companies on behalf of the landlord to make a claim.) Attend court.

£20 - £80 per hour + VAT

EPC To instruct a Domestic Energy Assessor to provide an Energy Performance Certificate.

£70 + VAT

Rent Review Fee We shall review the rent and where this result in a rent increase, the rent review fee applies.

£25 + VAT

Smoke/Carbon Monoxide Alarms To arrange for an engineer to attend the property to install any missing smoke/carbon monoxide alarms. The fee includes the installation of one smoke alarm or one carbon monoxide alarm. The installation of additional alarms that may be required are charged at £25+VAT (£30.00)

 Additional Contractor Quote If more than 1 quote are required by the landlord for maintenance work this fee is charged per additional quote required.

£25+VAT

£25 + VAT

Change of Service If the landlord would like to change the service from fully managed to tenant find and manage the property themselves. The landlord will need to give NS Lettings LTD 90 days’ notice on the rent due date and pay £50 + VAT for handover of the tenant’s deposit and the new tenancy to be drawn up as the current tenancy will be null and void after the landlord takes over management of the property.

90 days’ notice + £50 + VAT