Our Fees

LANDLORD FEES:

1) Let Only Service                              A minimum of one months rent (inc VAT) payable for each letting where the tenant is introduced through the Agent

¨  The Agent will arrange to provide a guide on the rental price of the Property, usually by visiting.

¨  The Agent will promote the Property in appropriate ways to find a suitable tenant for the Property.

¨  For Introduction Only Service landlords, once contact is made by a prospective tenant, the Agent will put the prospective tenant in contact with the Landlord who will then arrange all viewings and tenancy paperwork. The Landlord will need to comply with the deposit legislation and the Immigration Act 2014 requirement as appropriate. This element does not apply to the following levels of service.

¨  Additional services are available for a fee.

¨  The Agent will arrange for the legally required checking and paperwork for the Property. This may include a gas safety record, an energy performance certificate, mains electrical testing, portable appliance testing and a legionella risk assessment. All costs will be borne by the Landlord, even if the Property is not actually let through the Agent.

¨  The Agent will arrange viewings with prospective tenants either using the keys supplied by the Landlord or in co-ordination with the current occupier. All viewings will be accompanied by the Agent unless agreed otherwise.

¨  Once a prospective tenant is found who is interested in the Property, they will be asked to complete an application form giving information about themselves.

¨  The Agent will then take references appropriate to the circumstances of the prospective tenant. This may be done by the Agent or may be outsourced to a referencing company as the Agent thinks fit.

¨  The Agent agrees under Part 3 Chapter 1 of the Immigration Act 2014 to be the person responsible for checking the immigration status of all applicants, as appropriate, before the initial move in. For Let Only landlords the Landlord will be responsible for any further work needed under the Immigration Act.

¨  On receipt of references the Agent will set up the necessary paperwork to let the property on an appropriate tenancy or licence.

¨  The Agent will, if appropriate, arrange for the initial production and subsequent agreement of an inventory and schedule of condition of the property at the move in.

¨  The Agent will sign up the Tenant and collect any money due, giving the Tenant copies of appropriate paperwork.

¨  If a deposit has been collected and requires protecting under the Housing Act 2004 rules then you will either need to have a custodial scheme account of your own for us to transfer the deposit money into or you will have to purchase protection with an insured scheme and we will only send you the deposit once you have sent evidence of that protection. If we do not get evidence with 10 days, we will protect the deposit in the custodial scheme to protect you. We will not, however, have any involvement in the agreement about the refund of the deposit or any disputes at the end of the tenancy.

¨  For Let Only Service landlords, the Agent will then send the Landlord the funds, less expenses, and the paperwork. This element does not apply to the following levels of service.

 

2) Full Management Service               12% (inc VAT) of the rent received, deducted by the Agent

In addition to the Let only Service items:

¨  The Agent will use its best endeavours to arrange minor repairs, general maintenance and replacements to the property without necessarily consulting the Landlord beforehand up to the limit agreed in writing upon giving instruction, (or up to the value of one month’s rent where no figure has been specifically agreed). The Agent will not be responsible for damage or loss incurred to the Property or the Landlord in the event of repairs, general maintenance or replacements not being carried out.

¨  The Agent will make periodic visits to the property and send a report to the Landlord but such visits and reports can only be regarded as general oversight of the Property and its care by the Tenant. The Agent does not accept responsibility for actual variance between the report and the items reported upon. The Agent will liaise with the Tenant on all day to day matters arising.

¨  The Agent will use its best endeavours to recover possession of the Property in accordance with instructions received but cannot be liable for any delays, damages or costs incurred because such vacant possession is not achieved within the time scale requested. It will be the responsibility of the Landlord to instruct solicitors with whom the Agent will liaise. The Agent will not be liable for any legal or other costs incurred in any action against current or previous tenants undertaken on the Landlord’s instructions.

The fees under the above services are payable when any individual or organisation enters into an agreement to rent the Property as a result of our promotion, introduction, or viewing by the Agent.

Additional Charges

Agreement Admin Fee                           £ 360.00 (inc VAT)

Duplicate Statements                            £10.00 (inc VAT)

Professional hourly rate                         £100.00 (inc VAT) Charged by the Agent when required to carry out any additional services

Void Property inspections                      £25.00 (inc VAT) (per visit)

Tenancy Renewal fee                            £75.00 (inc VAT)

Major works fee                                    10% (inc VAT)

Minimum Fee

Where the Landlord cancels the Agent’s instruction to provide a management service the Agent will charge, and the Landlord will pay, a fee based upon 10% (inc VAT) of the agreed rent for the period, not exceeding six months from the commencement date of the tenancy.

 

VAT is payable at the prevailing rate on all our fees. In accordance with consumer legislation it is quoted as included in the prices stated above.

The fees charged to the tenant may change and we will endeavour to inform you of such a change at the earliest opportunity.

We also seek your consent to receive commissions from:

Contractors                                   Consent given                         Yes                  No

Insurance companies                   Consent given                         Yes                  No

Referencing companies                Consent given                         Yes                  No

Utility providers and others           Consent given                         Yes                  No

 

These commissions ~will/will not be included in the contractor invoice and can be up to

12% (inc VAT) of the total invoice.

 

 


The Property Ombudsman
Approved Code Trading Standards
Association of Residential Lettings Agents
Trainign for Professionals
British Property Award Winner

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© 2019 Prime Lettings and Management Ltd | 19 Churchgate Bolton BL1 1HU
Company Number: 6257424 - Registered in England and Wales - VAT Registration Number: 913 1709 46

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