Fees to Landlords
Tenant find: 65% of the first months rent, inc. VAT (subject to a minimum fee of £474 inc. VAT)
Includes:
- Collect and remit initial months’ rent received
- Agree collection of any shortfall and payment method
- Provide tenant with method of payment
- Deduct any pre-tenancy invoices
- Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
Rent collection: 8% of rent (Inc VAT)
Includes:
- Collect and remit the monthly rent received
- Deduct commission and other works
- Pursue non-payment of rent and provide advice on rent arrears actions
- Make any HMRC deduction and provide advice on rent arrears actions
- Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
Fully Managed: 12% of rent (Inc VAT)
Includes:
- Collect and remit the monthly rent received
- Pursue non-payment of rent and provide advice on rent arrears actions
- Deduct commission and other works
- Advise on all relevant utility providers of changes
- Undertake up to 4 inspection visits per annum and notify the landlord of the outcome
- Arrange routine repairs and instruct approved contractors
- Hold keys throughout the tenancy term
- Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
Setup Fee
Tenant Find £Included • Rent collection £354 (Inc VAT) • Fully Managed £354 (Inc VAT)
Includes:
- Agree the market rent and find a tenant in accordance with landlord guidelies;
- 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 portals
- Erect board outside property in accordance with Town and Country Planning Act 1990
- Advise on non-resident tax status and HMRC (if relevant)
Checkout Fee
Tenant Find £150 (Inc VAT) • Rent collection £150 (Inc VAT) • Fully Managed - Included
Includes:
- Agree with tenant check out time and date appointment
- Instruct inventory provider to attend
- Negotiate with landlord and tenant any disbursements of the security deposit
- Return deposit as agreed with landlord and tenant to relevant parties
- Remit any disputed amount to Scheme for final adjudication
- Unprotect security deposit
- Instruct contractors; obtain quotes; organise repairs/replacement/cost of any broken or missing items
Additional Non-Optional Fees And Charges (Irrespective Of Level Of Service)
Inventory Fee (Landlords share): - £120 (Inc VAT)
Deposit Registration Fee:
- Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme
- Provide the tenant(s) with the Deposit Certificate and Prescribed information within 30 days of the start of the tenancy
Additional property visits: - £30 (Inc VAT) per visit
- To attend for specific requests such as neighbour disputes; more visits are required to monitor the tenancy; or any maintenance linked visit
Submission of non-resident landlords receipts to HMRC - £60 (Inc VAT) quarterly
- To remit and balance the financial return to HMRC quarterly – and respond to any specific query relating to the return from the landlord or HMRC
Arrangement Fee for works over £500 | 12% of net cost
- Arranging access and assessing costs with contractor;
- Ensuring work has been carried out in accordance with the specification of works
- Retaining any warranty or guarantee as a result of any works
Arrangement fee for refurbishments over £500 12% of net cost
- Arranging access and assessing costs with contractor;
- Ensuring work has been carried out in accordance with the specification of works
- Retaining any warranty or guarantee as a result of any works
Obtaining more than two contractors quotes - £0 (Inc VAT) per quote
Rent Review Fee - £30 (Inc VAT)
- Review rent in accordance with current prevailing market condition and advise the landlord
- Negotiate with tenant
- Direct tenant to make payment change as appropriate
- Update the tenancy agreement
- Serve Section 13 Notice if tenancy is on a rolling monthly basis
Renewal Fee (Landlords share) - £114 (Inc VAT)
Court Attendance - £80 (Inc VAT) per hour
- Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
MCA Residential Lettings Limited is a member of The Property Ombudsman redress scheme
MCA Residential Lettings Limited is a member of a Client Money Protection scheme operated by Property Mark