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Our Fees

AROUND TOWN FLATS 
VAT is payable at the prevailing rate on all our fees. It is included in the charges shown on this scale of charges where possible eg 10% plus VAT will be shown as 12%, and £75 plus VAT will be shown as £90.  Where it is not possible the charge will be shown with the wording 'plus VAT' afterwards eg Two weeks rent plus VAT.

TENANT SPECIFIC

Holding Deposit   
Equivalent to 7 days rent
Calculated based on the rent agreed as part of your offer for the property.  The amount is the equivalent of 7 days of rent.
The calculation for calculating this Holding Deposit is the annual rent divided by 365 days multiplied by 7 days.  
E.g. If rent is £5000 per annum = £5000 / 365 x 7 = £95.89

As a result of paying this, the property will be taken off the market until the Deadline for Agreement. This secures the property for applicants whilst we await their references and completion of the tenancy paperwork. The Holding Deposit will become refundable unless one of the events listed in Schedule 2 of the Tenant Fees Act 2019 occurs.

The Deadline for Agreement is within 15 days or by the agreement start date, whichever is later.

With the applicant’s consent, on completion of the tenancy paperwork, the monies held as a Holding Deposit will be contribute towards the first month’s rent.

Tenancy Deposit      
Equivalent to 5 weeks rent
Calculated based on the rent agreed as part of your offer for the property.  The amount is the equivalent of 5 weeks rent.  
The calculation for calculating this Tenancy Deposit is the annual rent divided by 52 weeks multiplied by 5 weeks.  
E.g. If rent is £5000 per annum.  £5000 / 52 x 5 = £480.77

Gives the landlord protection for any damages caused during the tenancy. Your deposit will be protected using a Tenancy Deposit Scheme as prescribed in law.  

Key Replacement
£15 per replacement key.
E.g Tenant lost their set of keys which was made up of two keys, one for their front door and one for their bedroom. Two keys sourced by agent. £15 per replacement key.  2 keys required.  £15 x 2 = £30 total to pay.

Where appropriate a replacement key will be cut. This charge contributes towards the administration, management, overheads for completing this work, and the cost of a third party locksmith cutting the keys.

Lock Replacement
£90 Lock change with one key then £15 for each supplemental key
E.g. 6 bed house with 6 tenants with one front door lock requiring changing.
Lock change and one key is £90.   5 further keys required so 5 x £15 = £75. Total £165.

Where appropriate the locks will be changed and this charge contributes towards the cost of the new lock, the fitting of the lock, the administration, management and overheads.  You will receive one key as standard. An additional Key Replacement charge is applicable for each supplemental key required.

Tenant Requested Variation or Novation to the Tenancy Agreement (Lease)
£50 per document

Where the Tenant wishes to replace an obligation contained within the Tenancy Agreement with another or vary the terms of the Tenancy Agreement the costs of dealing with this change including but not limited to, drafting and issuing a new Tenancy Agreement or drafting and issuing an addendum to the Tenancy Agreement

Tenant Requested Assignment of the Tenancy Agreement (Lease)
£50 per Tenant requesting assignment of their interest in the property

Where the Tenant wishes to replace a Tenant who is party to the Tenancy Agreement with another person the costs of dealing with this change include but are not limited to, establishing the suitability of the proposed new Tenant, drafting and issuing a new Tenancy Agreement.

LANDLORD SPECIFIC
Let Only Service
Three weeks rent plus VAT payable for each letting where the tenant is introduced through the Agent subject to minimum charge of £600. Reference reports will additionally be charged at £14.40 per reference report.
E.g. If the monthly rent is £1200 per month.  Three weeks rent plus VAT (currently 20%) would be calculated: £1200 multiplied by 12 months divided by 52 weeks multiplied by 3 weeks plus VAT= £996.92.


The agreed rental may be higher or lower than the example/marketing rent and these fees will be correspondingly higher or lower.

The fees under the above service are payable when any individual or organisation enters into an agreement to rent the Property as a result of our promotion, introduction or viewing by the Agent.

When choosing this service our landlords can expect us to advise a marketing rent and promote the property. We will arrange and conduct viewings, introduce willing and able tenants, reference them, ensure their compliance with the Immigration Act, put together the tenancy paperwork and take any relevant initial monies.

Full Management Service
By Agreement 12% of the rent received (inclusive of VAT), deducted by the Agent, plus one off Letting Fee of one weeks rent plus VAT payable on completion of the let. Reference reports will additionally be charged at £14.40 per reference report.
E.g. Marketing rent is £100 per week is a calendar monthly rent of £433.33.  12% of the calendar monthly rent is £52 which is the management fee payable to the Agent when rent is received.  In this same example the fee payable on completion of the let would be £100 plus VAT (£20) = £120.00.    The agreed rental may be higher or lower than the example/marketing rent and these fees will be correspondingly higher or lower.

Please note that the agreed rental may be higher or lower than the example /  marketing rent and these fee will be correspondingly higher or lower.

The fees under the above service are payable when any individual or organisation enters into an agreement to rent the Property as a result of our promotion, introduction, or viewing by the Agent.
 
This service builds on our Let Only service and further includes the endeavour to collect rent and the record keeping of the rent received and the production of monthly and annual statements.  Where applicable we will also account to HM Revenue and Customs for the rental received and this can include deducting basic rate income tax. Furthermore we offer to the Tenants a 24/7 repairs service and by agreement with the Landlord use our best endeavours to arrange minor repairs, general maintenance and replacement items for properties.  Furthermore we make periodic inspections and liaise with tenants on all day to day matters that arise.  Full Management includes our Check In and Out service.  Moreover this service also includes using our best endeavours to recover possession of the Property in accordance with instructions received

If the Landlord lives overseas, the Agent must account to HM Revenue and Customs for the rental received and this can include deducting basic rate income tax. To avoid this, the Landlord must apply to HM Revenue and Customs for approval for gross rents to be paid. If such approval is not obtained, an extra 1% will be charged on the normal commission to cover the cost of the extra work involved.

Landlord Additional Charges
Administration for Registration of Tenant Deposit       £included in Letting Fee (DPS Custodial only).
Chargeable by the Agent when adding the deposit information to the DPS custodial deposit scheme

Administration for Registration with ICO £20
Chargeable by the Agent for registering the landlord with the ICO (Information Commissioners Office).  

Preparation of one Inventory - Check In or Out £90 for either a check in or check out (inc. in Full Management)
Charged by the Agent when we can prepare an inventory      

Tenancy Dispute Resolution inc Deposit ADR £120
Charged by the Agent when instructed by the Landlord to prepare and manage the ADR process

Duplicate Statements          £10
Chargeable for providing duplications of statements     


Serve Notice for Possession £60
Charged by the Agent when Notice for Possession is instructed by the Landlord

Professional hourly rate      £45

Charged by the Agent when required to carry out any additional services
 
Court Documentation Preparation £120
Charged by the Agent when Court documents are prepared at the Landlords instruction

Void Property inspections   £50
Charged by the Agent each time we inspect an empty property

Tenancy Renewal fee           £60
Charged when Tenants we have introduced renew for a further fixed term

HMO License application £180
Charged by the Agent when the Landlord instructs the agent to carry out HMO License application

Energy Performance Certificate (EPC)     £65
Chargeable by the Agent when ordering an EPC

Major works fee Chargeable 12% of invoiced value of works

Chargeable for works instructed by us on behalf of the Landlord

Management Cancellation Fees
Where the Landlord cancels the Agent’s instruction to provide a management service the Agent will charge and the Landlord will pay a fee based upon 12% of the agreed rent for the period not exceeding four months from the commencement date of the tenancy.

Minimum Fee
Where the Landlord cancels the Agent’s instruction to provide a management service the Agent will charge and the Landlord will pay a fee based upon 12% of the agreed rent for the period not exceeding four months from the commencement date of the tenancy.

CLIENT MONEY PROTECTION INSURANCE

Around Town Flats has Client Money Protection Insurance for the benefit of our Landlord and Tenant clients so that in the event of theft or misappropriation of these monies by the owners of the business, they have a way of recovering their monies. We believe that this is an important contribution to the raising of standards in the Private Rented Sector. This is provided by ARLA Propertymark. Membership number C0118525


THE PROPERTY OMBUDSMAN (TPO) REDRESS SCHEME
Around Town Flats are proud to be members of the TPO.  Our Membership number is R664.  The TPO Code of Practice requires agents to meet all their legal obligations when acting as agents, but it goes above and beyond that by requiring agents to adopt and follow 'best practice'.

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