For properties in England, the Tenant Fees Act 2019 means that from 1 June 2019, in addition to rent, letting agents can only charge tenants entering into an Assured Shorthold Tenancy or anyone acting on the tenant’s behalf:
- A refundable tenancy deposit capped at no more than 5 Weeks’ rent where the total annual rent is less that £50,000 or 6 weeks’ rent where the total annual rent is £50,000 or above.
- A refundable pre-payment (to reserve a property) capped at no more than 1 week’s rent
- Payments associated with early termination of the tenancy, when requested by the tenant
- £50.00 no VAT administration fee for completing any tenancy name change’s during the tenancy
- Payment in respect of utilities, communication services, TV license and Council Tax
- Payments arising from a default by the tenant where they have had to replace keys or a respective security device
- Charge for late rent payment (not exceeding 3% above the bank of England base rate)
- Any other permitted payments under the Tenants Fees Act 2019.
FEES TO LANDLORDS.
LET ONLY SERVICE FEE: 8% of the monthly rent can be taken monthly or be paid upfront from the start of tenancy
The tenant finder service finds the most suited tenant according to your requirements.
To ease your cash-flow we will accept your fee to be paid on a monthly basis upon your request or you can pay the fee in full from the start of the tenancy.
LETTING & RENT COLLECTION FEE: 10% of the monthly rent taken each month from the rent payment
This service is available for landlords who prefer to have a professional approach to rent collection and manage their property on a day-to-day basis themselves. The fee is applicable each month from the rent payment as long as the tenant introduced by Nathan Andrews Estates remains in the property either on a fixed term, or periodic contract term.
FULL MANAGEMENT FEE: 12% of the monthly rent taken each month from the rent payment
This service is available for landlords wanting 24/7 peace of mind and letting us manage the process from start to finish.
HMO PROPERTY MANAGEMENT FEE: Rate start at 10% of the monthly taken each month rent with no initial lettings fee.
It’s Impossible to publish a standard fee for HMO management and we take each property on a case by case basis, but rates start at 10% with no initial letting fees. If you’d like one our managers to conduct a review of your property, please contact us.
PROTFOLIO MANAGEMENT It’s Impossible to publish a standard fee for Portfolio management and we take each Portfolio on a case by case basis. If you have a Portfolio that needs managing with the care and commitment it desires then call us on 0207 229 4466
Deposit registration fee: £25.00
- Register landlord and tenant details
- 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
Renewal Fee: £120.00
- Contract Negotiation
- Amending and updating terms
- Arranging a further tenancy and agreement.
Tenancy set up fee: £195.00
- Agree the market rent
- Find a tenant in accordance with the landlords guidelines
- Carry out accompanied viewings
- Advise on refurbishment
- Provide guidance on compliance with statutory provisions
- Market the property and advertise on the relevant portals
- Advise on tax status and HMRC (If relevant)
Nathan Andrews Estates is not VAT registered.
