FEES TO: LANDLORDS
Issued in Accordance with the New Rules
introduced under the Consumer Rights Act
When signed this document is deemed as a contractual agreement between Landlord and Agent
LEVEL OF SERVICES OFFERED:
(As a Landlord you need to read this carefully):
If on instruction from a Landlord (he/she or they) wish to appoint Elite Property Services (EPC) to act as Letting / Management Agent it is apparent that lawful, legislative guidelines are not in place in accordance with Rent Smart Wales, other third party associates or lawful governing bodies, – then depending on the administrative work required, there will be a fee charged to the Landlord. This fee will be agreed by both (EPC) and the Landlord, settled prior to any other fees illustrated below……. This will be known as a ‘Compliance Fee’ .
The Landlord has the right not to appoint (EPC) as their Agent and (EPC) reserve the right not to act as the Landlords Agent ).
If appointed, (EPC) takes over the right as ‘Licenced Agent’ to act for the Landlords for the duration of each tenancy.
However, should (EPC) jeopardise the Terms / Conditions of the Tenancy Agreement (AST) or compromise the Landlord then subject to agreement or any third party ruling, the Landlord has the right to terminate the appointment of (EPC) as their Agent at any time during said tenancy without further claim.
Should the Landlord wish to sell the rented property at any time during the tenancy / managed period, then the Landlord must reimburse (EPC) for any ‘FULLY MANAGED FEE’ (agreed) for the period remaining of said tenancy.
If the Landlord, through his / her or their actions, compromise or bring (EPC) ‘Management’ duties into disrepute during any period of the tenancy, then (EPC) reserves the right to end said ‘Management’ and be reimbursed by the Landlord – ‘FULLY MANAGED’ (agreed) fee for the remaining period of the tenancy and any other claim brought about by any other party or parties.
FIND A SUITABLE TENANT ONLY:
£400.00 (as from 1st January 2021)
Includes – Unlimited advertising in both local and provincial newspapers / web sit and other means. Accompanied viewings. Obtaining credit / references from current or previous employers / Landlords and any other relevant information required to assess affordability as well as contract negotiation / arranging the ‘Tenancy Agreement’. Processing the application associated paperwork and referencing. Submit Deposit (if required) to the DPS within 30 days of the agreement (This will be protected in a government authorised scheme and be returned at the end of the Tenancy subject to the conditions re damage to the property etc. ) Provide tenant’s with a copy of the Prescribed Information / EPC / Gas Safe / Landlords Electrical / certificates. Explain how appliances work and take meter readings for utilities and services. Supply Guarantors if needed. Provide Tenant with Landlords / Agents bank details for payment of ‘monthly’ rent.
RENT COLLECTION ONLY:
A Negotiable Monthly Fee Depending on The Amount of Properties Registered:
Agree collection of any shortfall and payment method. Provide Tenant with method of payment. Deduct any pre tenant invoices. Make available invoices for Landlords submission to HMRC re deduction and claim against tax returns.
Negotiable Depending on the number of Properties Registered then based on a percentage of the Monthly Rent (each month) and in addition to the fee for finding a suitable Tenant:
Collect and remit the monthly rent received. Pursue non payment of rent and provide advice on rent arrears action with submission of regulated statutory documents etc. Give ‘Notice’ if required to Tenant. Deduct commission and other works. Advise all relevant utility suppliers when Tenant moves in / out of the property. Undertake ‘Periodic Inspections’ of the property in accordance to the Agreement and provide written report to Landlord. Hold keys throughout the Tenancy. Arrange routine repairs and instruct approved contractors (providing two quotes)
PROPERTY INVENTORY: Fee £50
Elite Property Services to prepare a full inventory of furnishings supported by pictures (if required) – prior to each tenancy, witnessed / signed by incoming tenant
ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE):
ADDITIONAL PROPERTY VISITS: £30.00 per visit:
To attend for specific requests such as neighbour disputes. More visits are required to monitor the Tenancy, or any maintenance linked visits.
WHEN A PROPERTY ENDS ITS TENANCY:
Prior to the property being re-let -and should the Landlord wish Elite Property Services to rent again and arrange visits / meetings with tradespersons to obtain quotes for: Decoration / Repairs / Renewals / House Clearance/ or any such like instructions, an agreed fee will be charged.
RENT REVIEW FEE £35.00
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
CHECKOUT FEE: £50.00
Agree with Landlord / Tenant a check out date and time appointment Instruct Inventory provider to attend (if applicable) Negotiate with Landlord and Tenant any disbursement 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 the Security Deposit Instruct contractors: obtain quotes, organise repairs / replacement / cost of any broken or missing items.
COURT ATTENDANCES. £40.00 (per hour)
To prepare , register and submit all copies of official papers (normally forms N119 x 4) prior to any court hearing and if necessary attend the court to support and give guidance / advise to the Landlord.
FEES TO: LANDLORDS