Kennington Estate Agents

Landlords' fees

Tenancy fees

Tenancy agreement: £294 inc VAT (Contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.)

Fully managed: 16% + VAT (this equates to 19.2% inc VAT)

Rent collect: 10% + VAT (this equates to 12% inc VAT)

Let only: 10% + VAT (this equates to 12% inc VAT)

* VAT is charged on all fees, where indicated, at the governing rate, currently 20%.

All fees based on the gross rental for the period of the tenancy.

Renewal Fees (Landlords Share)

8% + VAT (which equates to 9.6% inc VAT) in the 2nd term.

7% + VAT (which equates to 8.4% inc VAT) in the 3rd term.

6% + VAT (which equates to 7.2% inc VAT) in the 4th term and thereafter.

All fees based on the gross rental for the period of the tenancy.

Renewal agreement: NIL

Inventory

Inventory Check in: £90 - £330 depending on property (no VAT)

Non-Optional Fees

Deposit Registration Fee - £60 inc VAT

Additional Property Visits - £60 inc VAT

Submission of non resident landlords receipts to HMRC - £120 inc VAT quarterly

Late payment fee: 4% above bank base rate

Serving Section 21 Notice - £120 inc VAT

Copies of annual rental statements - £60 inc VAT

Gas safety - £93 (inc VAT)

Gas safety and installation of smoke plus CO2 alarm - £141 + VAT (includes 1 alarm)

PAT test - £84 (inc VAT)

Legionnaires Risk assessment - £96 (inc VAT)

Tenants fees

Set up fee (tenant's share) £294 (inc VAT) per property. Payable for drawing-up the Tenancy Agreement, its implementation, setting up standing orders and arranging all other pre-lettings services.

Referencing fees £50 (inc VAT) per tenant or company tenant

Referencing (identity, immigration and visa confirmation, proof of current address, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement

Deposit Equivalent to 6 weeks will be taken before move in

Guarantor Fee £50 (inc VAT) per guarantor (if required)

Covering full referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement

Check-in Fee Payable by landlord unless by other prior agreement

Preparing an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services

Pet Deposit An additional Security Deposit may be taken - amount may vary depending on individual circumstance

To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme, on an Assured Shorthold Tenancy) and may be returned at the end of the tenancy

During your Tenancy:

Tenancy Swap £300 (inc VAT)

Referencing £50 (inc VAT) per tenant/guarantor

Contract negotiation, amending terms and updating your tenancy agreement during your tenancy

End of Tenancy:

Check out Fee (tenant's share) £75-£170 (no VAT) varies per property depending on size of property and number of rooms. £75-170 on conventional sized properties. Variants cost more. For clarity, we only charge our client what the third party clerk charges us, with no mark up. Detailed schedule available on request.

Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)

Other Fees and Charges:

Lost Security Items £N/A

Obtaining necessary permissions, sourcing providers and travel costs

Out of Hours Services £180 (inc VAT)

Where the specific actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged as standard on a 2 hourly rate.

Unpaid Rent / Returned Payments Interest at 4% above Bank of England Base Rate from date due

Professional Cleaning (if required) £ 132 - £480 (inc VAT) as standard, however further costs may be incurred, which will be deducted from the Security Deposit Please ask for a detailed price list.

Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.