1. The Let Only Service: 12% inc. VAT
This service is suitable for those who live close to the property and/or are happy dealing with rent collection, maintenance and repairs.
As above, we will assess your property in relation to the current market conditions and promote it through local press, web portals and website in order to match your property with suitable applicants through our extensive tenant register. The next step is to arrange and accompany viewings to the property, interview and assess potential tenants, negotiate the tenancy in line with your instructions and fully reference check the tenants to comply with government guidelines.
Then we will make arrangements for the tenants moving in, write up the tenancy agreement and make amendments where required, collect the first month’s rent and deposit on your behalf, and if required, place the tenant's deposit in a tenancy deposit scheme. We can also offer a discounted rent guarantee. Finally, we will review the rent and negotiate any subsequent renewal of the tenancy and of course deal with the return of all deposits that we hold when the tenancy ends.
2. Rent Collection Service: 14.4% inc. VAT
Our rent collection service incorporates all aspects of our let only service, including property assessment, property promotion, selecting and credit referencing suitable tenants and negotiating tenancies. In addition, though, we take the hassle out of rent collection, freeing you of the need to worry about it.
CH Peppiatt collects and forwards the rent directly to your bank account by BACS within three days of receipt. In the unlikely event of non-payment or shortfalls, we take responsibility for chasing these up and if necessary will attend court to regain possession of the property. Where appropriate we will also submit a rent claim to the insurance company under the rent guarantee, forward copies of the statement to your accountant and /or solicitor as requested and make any HMRC deduction as required.
3. Property Management Service: 18% inc. VAT
Our property management service is the most comprehensive option, and takes away all the day-to-day stress and inconvenience of managing your own property.
This service incorporates all the aspects of our standard let only service and our rent collection service, including property assessment and promotion, selecting and referencing tenants, negotiating tenancies and collecting rental. In addition, however, we will act as your tenant’s contact for all property management issues, act as key holders throughout the tenancy and provide a 24/7 emergency telephone line for the tenant.
We will also advise all relevant utility providers of changes and arrange prompt maintenance and repairs by reputable local contractors, including dealing with both estimates and invoices. If the tenants are responsible, we will make sure they pay for any repairs or cleaning that is required. Throughout the tenancy, we will communicate all relevant details to you, as well as carrying out a property inspection every four months and serving appropriate notices.
Dispute Resolution ServiceProperty management service also includes DRS (Dispute Resolution Service) if appropriate excluding statutory declaration submission fees (see below under additional charges).
Additional fees and charges
Renewals are charged for the tem of the tenancy at 10% inc. VAT for the second term and 8% inc. VAT for the third term. No renewal fee is charged after the third term. Our renewal service includes advice on current rent, contract negotiation, amending and updating terms and arranging a further tenancy and agreement.
Inventory Check-out: £132 - £252 inc. VAT depending on the amount of rooms etc.
We will agree with tenant check out date and time, instruct an inventory provider to attend, negotiate with landlord and tenant any disbursement of the security deposit and return deposit as agreed with landlord and tenant to relevant parties. We will also remit any disputed amount to the Scheme for final adjudication.
EPC (Energy Performance Certificate): £84 inc. VAT
It is mandatory for landlords to make Energy Performance Certificates (EPCs) available to new tenants as part of the lettings process. Each EPC will last for 10 years. EPC rating has to be rated “E” or above for the property to be suitable for the tenancy. Additional costs will apply to carry out works to get the property up to the required standard.
Gas Safety Certificate: £108 inc. VAT
A qualified Engineer (CORGI or British Gas) must check all gas appliances and installations on an annual basis, and also ensure flues and chimneys are clear of obstructions and in the correct place. Any items that fail to comply with the regulations must be fixed or removed immediately. The engineer must issue a certificate and a copy presented to the tenant at the start of any tenancy. Failure to comply with the regulations is a criminal offence carrying a penalty of six months imprisonment and/or a fine which is currently a maximum of £5,000.
Non-UK Resident Landlords
If live outside the UK and choose not to 'self-assess' your tax, the Taxes Management Act 1970, Section 78 and 83 require us to assess you at the basic rate of income tax (variable) from rents we collect on your behalf. You can either ask your accountant and tax office to write to us confirming that they accept liability for payment of your tax, or we can instruct our in-house accountant, who can give you advice or can be employed by you to take care of your tax affairs while abroad at an annual fee of £400 inc. VAT.
£250 inc. VAT to apply for the HMO license. Councils have their own charges for the licenses and these charges will be passed onto the landlord. Additional charges apply to bring the property up to HMO standard.
Statutory Declaration Submission
These are the legal fees for arranging a submission of paperwork which requires a lawyer’s signature in relation to deposit dispute processes. £24 incl. VAT per application plus the cost of the recorded delivery.