Fees Information for Landlords
|Fee payable to Agent||Payable by|
|Letting Only (preparing particulars, advertising, conducting viewings, reference and credit checks, preparing tenancy agreement)||12% inclusive of VAT of first year’s rent||Landlord|
|Letting & Deposit Holding (as above plus holding and protecting tenancy deposit)||12% inclusive of VAT of first year’s rent||Landlord|
|Letting & Rent Collection (as above plus collection of monthly rent)||13.20% inclusive of VAT of first year’s rent||Landlord|
|Letting & Management (as above plus management throughout tenancy)||18% inclusive of VAT of first year’s rent||Landlord|
|Management Only (management during existing tenancy)||6% inclusive of VAT of current yearly rent||Landlord|
|Marketing (preparing particulars and advertising the property)||Included in letting fee||Landlord|
|Conducting viewings||Included in letting fee||Landlord|
|Taking references and conducting credit checks||£49.95 inclusive of VAT per tenant/guarantor||Landlord|
|Energy Performance Certificate||£75.00 inclusive of VAT per property||Landlord|
|Gas safety check||£75.00 inclusive of VAT per property + Parking||Landlord|
|Electrical safety check||From £150.00 inclusive of VAT per property||Landlord|
|Preparation of tenancy agreement (Landlord fee)||£180.00 inclusive of VAT per agreement||Landlord|
|Inventory preparation||£204.00 inclusive of VAT per property||Landlord|
|Inventory check-in||£90.00 incl of VAT per property||Landlord|
|Inventory check-out||£144.00 incl of VAT per property||Landlord|
|Deposit registration fee (protection of deposit in authorised scheme and service of prescribed information)||£25.00 inclusive of VAT||Landlord|
|Additional inspections (in addition to routine inspections under Management service)||£60.00 inclusive of VAT per visit||Landlord|
|Tenancy renewal fee (negotiating and documenting renewal) (Landlord fee)||£50.00 inclusive of VAT||Landlord|
Lettings Terms And Fees information for Landlords
We will market your property from our prestigious Bermondsey St office along with specialist portals; Rightmove, Onthemarket, Zoopla, Prime Location and our website to secure you the best possible tenant. Our service includes professional photography presentation, negotiating the offer through to placing the tenant into the property fully referenced.
Our agency fees are detailed in our terms of business and are listed below for the initial tenancy period, minimum six months and any subsequent renewal extension or holding over of the tenancy or any continued tenancy of any tenant introduced by Williams Lynch as follows:
Tenant Find Service:
10% + VAT (12% Inc VAT) Initial period of the tenancy agreement
Year 1 – 7% + VAT (8.40% Inc VAT)
Year 2 – 6% + VAT (7.20% Inc VAT)
Year 3 – 4% + VAT (4.80% Inc VAT)
Full Management Service:
15% + VAT (18% Inc VAT) Initial period of the tenancy agreement
Year 1 – 12% + VAT (14.40% Inc VAT)
Year 2 – 11% + VAT (13.20% Inc VAT)
Year 3 – 10% + VAT (12% Inc VAT)
(£180 Inc VAT) The cost for preparing and executing any tenancy agreement on your behalf and we will provide you with an ARLA Assured Shorthold Tenancy agreement that meets new legislation with the deposit scheme embedded into the agreement. Please note that you will be required to advise which deposit scheme you will register the deposit to before the tenancy agreement can be prepared to ensure the correct information is compiled and the correct ARLA tenancy agreement is executed on your behalf. For managed properties the Deposit will be registered to the DPS.
Tenant referencing is provided through a third party specialist reference agency. The cost of referencing per applicant is £49.95 Inc VAT at the prevailing rate. For tenancies commencing from 01 June 2019 the cost of the referencing can no longer be charged to tenants in line with the Tenant Fee Ban legislation and therefore will be borne by the Landlord.
Deposit Protection Scheme
Failure to protect a deposit for a tenancy can result in proceedings against the landlord and the agent. Williams Lynch are members of the tenancy Deposit Protection Scheme and all deposits held by us, for our client landlords that take up our Management Service are registered to and protected by this scheme. It is important that you advise which deposit scheme you will register the deposit to before the tenancy agreement can be prepared, to ensure the correct information is compiled and the correct ARLA tenancy agreement is executed on your behalf.
Inventory charges from £144-£204 inc VAT at the prevailing rate (costs vary dependent upon service required and number of bedrooms). We strongly advise that you engage an independent inventory company to compile an inventory both at the commencement and at the end of the tenancy. The cost of the inventory at the commencement and at the end of the tenancy is borne by the Landlord for all tenancies commencing from 01 June 2019, in line with the Tenant Fee Ban legislation. Williams Lynch can assist you to arrange for an independent inventory company to compile the inventory on your behalf and you will be responsible for meeting the inventory costs direct with the supplier. For client Landlords who take up our management service Williams Lynch can arrange payment and deduct the cost from your account.
Williams Lynch can organise for your property to be professionally cleaned pre-tenancy from £200 inc VAT depending on the size of your property. In order to meet the expectations of our tenants we prefer that the property is professionally cleaned pre-tenancy. It is common practice for the landlord to pay for the cost of having the property professionally cleaned and prepared pre-tenancy and the cost is borne by the tenants to have the property cleaned at the end of their tenancy. The inventory will reflect the cleanliness of the property and this will also be noted in the tenancy agreement.
When letting your property through Williams Lynch we can provide you with the following additional services:
- Mandatory Gas safety certification £78.00 inc VAT
- Mandatory EPC certification £75.00
- PAT testing from £150.00 inc VAT (dependent upon number of appliances)
- Electrical testing from £250.00 inc VAT (dependent upon number of rooms and size of property)