Fees

Tenant Fees

Amounts required in order to reserve a property:

1. An amount equivalent to one weeks rent.
2. Referencing administration fee of £90.00 (inc vat) per tenant and guarantor. This covers taking up references from employers/accountants, previous landlords and carrying out credit checks. It also covers collecting photo id and proof of address.

Further amounts required before moving into a property:

1. One calendar month’s rent in advance.
2. Deposit equivalent to 6 weeks rent, less one weeks rent already paid.
3. Administration fee including tenancy agreement £300.00 (inc vat). This covers drawing up the tenancy agreement, answering questions relating to it, adding any special clauses to the tenancy, arranging for it to be signed by all parties including guarantors, banking charges and related postage charges. It also covers answering one reference enquiry per tenant at the end of the tenancy.

Reservation Fees

In order to reserve a property you will be required to pay a sum equivalent to one week’s rent plus £90.00 (inc vat) per tenant and guarantor. Once this sum is received we will suspend viewings of the property. If you subsequently decide not to proceed or there are any issues with your references these amounts will not be refunded. If the landlord were to change their mind and decide not to let the property other than due to issues with your references we will refund this money in full to you. However if you proceed to enter into the tenancy the one weeks rent which has been paid will be offset against the required sum for the deposit, which is normally 6 weeks rent.

Deposit

A sum equivalent to 6 weeks rent is payable before moving into the property. The one weeks rent paid as part of the reservation process will be off set against this amount. The deposit is normally lodged, by us, with the Deposit Protection Service. Please note that some of our landlord clients administer their own deposits and we will advise you accordingly. Under certain circumstances a landlord may request a larger deposit eg: if a tenant has a pet.

Rent in Advance

One calendar month’s rent is payable before moving into the property. This is calculated as follows: Weekly rent multiplied by 52 and divided by 12.

Check Out Charge

Tenants are required to pay the check out charge levied by any inventory clerk employed by the landlord. This is normally between £80.00 and £200.00 depending on the size of the property and the amount of contents and furnishings.

Other Charges

• Change of tenant fee- If a tenant wishes to move out during a tenancy and the remaining tenants and the landlord agree to this we will charge an administration fee of £180.00 (inc vat). This covers taking up references and the preparation of the tenancy agreement as detailed above.
• Letter required to chase up non payment or late payment of rent or regarding any other breaches of the tenancy £36.00 (inc vat).
• References- We do not make any additional charge for answering one reference enquiry per tenant from a future landlord/agent NB: we reserve the right to refuse to provide a reference.
• Renewal Fee- We do not charge a fee for renewing a tenancy if there are no changes to the tenants details.

Landlord Fees

Full Management Service on a sole agency basis:

10% of annual rent achieved plus vat which at the current rate of vat (20%) is equivalent to 12% of annual rent achieved including vat. Includes Free Gas Safety Certificate, Free Energy Performance Certificate, Free Professional Inventory, Free Professional Inventory Check-in, Includes Landlords Tenancy Agreement Fee, Free Rent Collection, Professional Photography and Professional Floor Plan.

Let Only Service on a sole agency basis:

8% of annual rent achieved plus vat which at the current rate of vat (20%) is equivalent to 9.6% of annual rent achieved including vat. Includes Landlords Tenancy Agreement Fee, Professional Photography and Professional Floor Plan.

Full Management Service on a multi agency basis:

15% of annual rent achieved plus vat which at the current rate of vat (20%) is equivalent to 18% of annual rent achieved including vat. Landlords Tenancy agreement fee of £250 plus vat which at the current rate of vat (20%) equates to £300 including vat.

Let Only Service on a multi agency basis:
 
10% of annual rent achieved plus vat which at the current rate of vat is equivalent to 12% of annual rent achieved including vat. Landlords Tenancy agreement fee of £250 plus vat which at the current rate of vat (20%) equates to £300 including vat.

Renewals:

All renewals are charged at 5% of annual rent achieved plus vat which at the current rate of vat (20%) is equivalent to 6% of annual rent achieved including vat. The renewal fee does not include the fee for managing the property.

Client Monies:

Rochford Stokes holds client monies in a dedicated HSBC “clients account” separate from any business account.

Rochford Stokes is not a member of a client money protection scheme.