Fees
The tables below list our commission and fees. The full details of each service or fee are set out within our Terms and Conditions.
Services
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Letting Service | ||
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We will advise on current market rent and preparing your property for letting; provide guidance on safety and compliance issues; advertise the property on specified websites and erect a board at the property; introduce applicants and accompany viewings; collect a holding deposit, initial rent and tenancy deposit; process rent and advise of any non-payment; advise on tax status, making any HMRC deductions due. | ||
| Excl VAT | Incl VAT | |
| The letting fee is payable as a percentage of the rent, in advance and subject to a minimum fee of £900 (£750 + VAT) | 11.0% | 13.2% |
| Short Let Service | ||
| This service is as above, but for tenancies under six months. The rent and fee is payable fully in advance | 18.0% | 21.6% |
| Management Service | ||
| We will advise utility providers and the local authority of a change of tenant; deal with day-to-day routine management and provide an emergency out-of-hour service; hold a working float; carry out routine property visits twice per annum and prepare a property visit report; obtain renewal of safety records; hold property keys; arrange inventory check-out appointment (landlord cost); negotiate claims against the deposit; distribute the deposit; prepare dispute claim for Tenancy Deposit Scheme (TDS) adjudication. We will also re-check tenant and occupants Right to Rent status during the tenancy where necessary. | ||
| The fee is payable per rental period, as a percentage of the rent and subject to a minimum three month period | 6.0% | 7.2% |
| Letting and Management Service | ||
| A combination of both services for tenancies over six months | 17.0% | 20.4% |
| Short Let and Management Service | ||
| A combination of both services for tenancies under six months | 25.0% | 30.0% |
| Renewal Service | ||
| We will contact both parties in advance to advise of options; advise on market rent and negotiate terms. This fee is payable in advance and includes any renewal, extension, holding over or periodic tenancy. > | Charged at the same rate as original tenancy | |
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Example of letting or renewal commission: If we let a property or renew a tenancy on your behalf as above for a period of 12 months at a rental of £1,500pcm and at a commission of 13.2% then you should expect to pay to us the sum of £2,376 in advance at the start of the initial or renewal period (12 x £1,500 x 13.2% = £2,376). If the period was 24 months, then the commission would be £4,752 (24 x £1,500 x 13.2% = £4,752) payable in advance. The amount will of course vary if the agreed rent is higher or lower, or the tenancy period is longer or shorter than shown in this example. Our Management Service commission is charged in addition to this. | ||
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Pre-Let Service | ||
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Our Pre-Let Service is available before the tenancy starts, or between tenancies and includes advising you and making arrangements for a property to be ready prior to marketing. It may also include maintenance works, decorating, arranging professional cleaning, instructing safety checks, obtaining EPCs and floor plans, etc. It is charged as a percentage of works invoiced over £1,200 (£1,000 + VAT), the contractors charge is in addition to this. There is no fee charged if you also select our Management or Short Let Service, so long as these services are in place at the start of the next tenancy. | ||
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Electrical Testing | ||
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We can arrange for an electrical installation condition report (EICR) to be carried out on your behalf either before the start or during the tenancy, in order to comply with new legislation. If you do not instruct our Management Service, then there will be an arrangement fee of £42 (£35 + VAT). The cost of the EICR itself will vary depending on the size of the property. | ||
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Caretaking Service | ||
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This service is for properties which are vacant either before or in between tenancies. We will arrange for scheduled visits; advise on any obvious defects and carry out the repair works. The contractor’s charge will be in addition to our fee. | ||
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This will be charged per property visit | £100 | £120 |
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Abortive Letting Charge | ||
| This is payable if you choose to withdraw from an agreed offer, other than for failed references | £500 | £600 |
Tenancy documents (for documents provided by KFH only)
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Initial tenancy agreement - long or short let |
Excl VAT |
Incl VAT |
| Assured shorthold tenancy (AST), initial or ‘change of tenant’ agreement, per tenancy Negotiating, drafting and executing the agreement; referencing each initial tenant (inc. Right to Rent check); referencing guarantor; serving Section 21 Notice | £375 | £450 |
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For all other tenancy agreements, per party Negotiating, drafting and executing of agreement; serving Section 21 Notice, or Notice to Quit | £250 | £300 |
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Renewal tenancy agreement- long or short let | ||
| AST, fixed term, per tenant | £250 | £300 |
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All other tenancies, fixed term, per party | £250 | £300 |
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Periodic tenancy administration, one-off payment | £100 | £120 |
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Addendum or Memorandum | ||
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To add to or change terms of a tenancy agreement | £100 | £120 |
Referencing and Right to Rent checks
We use HomeLet, an independent specialist company, to carry out all referencing and Right to Rent checks on your behalf and who also offer a 12 month free Tenant Eviction Service for qualifying references. Where you instruct us to draw up an AST tenancy agreement you will not be charged for initial referencing.
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Excl VAT |
Incl VAT | |
| Per initial tenant, guarantor or company, to include initial Right to Rent check where applicable | £55 | £66 |
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Subsequent Right to Rent checks (free under Management Service) per person | £35 | £42 |
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Renewal of Innovate tenant eviction product (provided by HomeLet), up to 12 months | £83.33 | £100 |
Deposit protection administration
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Excl VAT |
Incl VAT | |
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Administration covering initial 12 months protection with the Tenancy Deposit Scheme (TDS) To include registering the deposit with TDS, issuing prescribed information, scheme leaflet and certificate | £50 | £60 |
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Administration covering annual protection with TDS, after first 12 months Updating registration of deposit with TDS, issuing new certificate | £25 | £30 |
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Administration covering Initial 12 month Zero Deposit Guarantee (ZDG) | £50 | £60 |
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Administration covering annual ZDG, after first 12 months | £25 | £30 |
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Preparing case for adjudication with TDS (free under Management Service) To prepare claim for adjudication by TDS for any damages, missing items, or breach of tenancy terms against the deposit for either cash deposit or ZDG | £200 | £240 |
Inventory
These are third party charges and all work is carried out by independent, specialist inventory clerks.
| Preparing inventory listing, plus check-in appointment |
Excl VAT |
Incl VAT |
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1 - 3 bedroom property | - | £185 |
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4 - 5 bedroom property | - | £245 |
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6+ bedroom property | Price on application | |
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Individual check in or check out appointments, per appointment | - | £130 |
Additional management services
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Excl VAT |
Incl VAT | |
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Arranging cutting of standard keys, per set (exc. cost of keys) | £25 | £30 |
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Arranging cutting of security keys or obtaining security devices, per hour (exc. cost of keys or device) | £50 | £60 |
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Additional property visits, per visit | £100 | £120 |
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Waiting at properties (deliveries, contractors, etc), per hour | £50 | £60 |
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Supervision of works, as a percentage of net invoiced costs and where invoiced works exceed £1,200 (£1,000 + VAT) | 10% | 12% |
Income tax and statements
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Excl VAT |
Incl VAT | |
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Tax administration (for non-UK residents), per quarter | £75 | £90 |
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Copy statements, per copy | £10 | £12 |
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Copy statements, per annual tax period | £80 | £96 |
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Income and expenditure report, per report | £100 | £120 |
Miscellaneous
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Excl VAT |
Incl VAT | |
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Court attendance, per half day, or part thereof (plus cost incurred as a result of our attendance) | £400 | £480 |
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Applying for consent to let (excluding any charges imposed by other party) | £50 | £60 |
VAT is charged at 20% of the next charge/cost. The rate may vary during the course of this agreement.
Any charges will be subject to the prevailing rate of VAT at the time the cost is incurred.