The Tenant find fee includes agreeing the market rent and finding a tenant in accordance with the landlord’s guidelines. This involves marketing and advertising the property; erecting a board, then carrying out accompanied viewings as appropriate. It also includes providing notification of non-resident tax status and making an HMRC deduction as well as providing the tenant with an NRL8 (if applicable.) Bentley & Co collects and remits the first month’s rent received, deducting commission and other works, and supplies a statement. This fee covers advising all utility providers of any tenancy changes. The commission is calculated for the total rent for the term of the agreed tenancy. The rent will be collected from the tenant on rent due dates and forwarded to landlord.
The fully Managed fee is a commission calculated as a percentage of the annual rent, for collecting and remitting the monthly rent received, deducting commission and other works, and supplying annual statements. When necessary it includes the pursuance of non-payment of rent and providing advice on rent arrears actions. It includes 6-monthly routine visual inspections and the landlord is advised of the outcome. This fee covers advising all utility providers of any tenancy changes, arranging routine repairs and holding the keys during the tenancy. The fee also covers overseeing any maintenance work that is carried out during tenancy.
The Gas Safety (Installation and Use) Regulations 1998 state that all new, let and managed properties must have a gas safety certificate to start the tenancy and must be tested annually for safety. Bentley & Co appoint a Gas Safe Engineer to do this and this fee covers arranging access and retaining the certificate and the cost of the certificate.
All properties require a valid Energy Performance Certificate (minimum rating E) prior to the property being advertised.
All tenants’ deposits must be registered – by law – with a Government-authorised Scheme. This fee is for registering the landlord and tenant details and protecting the security deposit; then providing the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy. The scheme used by Bentley & Co is MyDeposits.
Commission is discounted by 1.2% (1% +VAT) per year for the first 2 years. After 2 years commission is fixed at 7.2% (6%+VAT) for Let only including Rent Collection and 9.6% (8%+VAT) for Let only with Full Managed service.
|1 bedroom||£156 (£130+VAT)|
|2 bedrooms||£168 (£140+VAT)|
|3 bedrooms||£192 (£160+VAT)|
|4 bedrooms||£228 (£190+VAT)|
|5 plus bedrooms||£264 (£220+VAT)|