Landlords Fees page

Penny & Lisa

Clear and transparent

We offer a straightforward and transparent commission structure which allows our Landlords to spread the payment of our commission over the duration of the tenancy. Unlike most agents our commission is deducted from the rent so that our Landlords start receiving an income for their property as soon as the tenant moves in. Rest assured, as a member of The Property Ombudsman (TPO) for lettings we subscribe to TPO’s Codes of Practice. This Government approved independent redress scheme gives consumers additional protection beyond that required by law. Our clients and customers have peace of mind that there is free and fair redress available in the unlikely event of an unresolved dispute involving our agency. As regulated members of ARLA and RICS this means that any monies we hold on your behalf is insured. This gives you peace of mind and financial protection that your money will always be safe in our hands under the RICS Client Money Protection Scheme. For a copy of our RICS Client Money Scheme certificate please click here.

Under our comprehensive Premium Management Service we include all of the following within our commission rate of 18% (21.6% incl VAT).

Management Services

Our services at a glance for full peace of mind.

Rent Management

  • We extensively advertise your property
  • We have a team of local lettings experts who will spend an average of 200 hours working to find you the best Tenant and arrange the tenancy
  • We carry out viewings six days a week and out of hours if requested
  • We access 10,000 corporate Tenants per annum through our Corporate Lettings and International Relocation Team
  • We negotiate terms and draw up a bespoke Tenancy Agreement
  • We take out thorough references including exploring a Tenant's credit history, previous Landlord and employment status
  • We arrange for any pre-tenancy work to be carried out to the Property
  • We hold all client monies securely in a designated and audited client account and protected by RI CS client money protection
  • We arrange an independent inventory, check-in and check-out
  • We offer Tenants the Penny & Lisa No Deposit Option
  • We provide safekeeping of your keys throughout the tenancy
  • We can arrange for a Carbon Monoxide detector and smoke alarm to be installed
  • We ensure that standing orders for Tenants are properly set up
  • We issue monthly rental statements and collect rent
  • We transfer utilities at the start and end of the tenancy
  • We provide help in recovering rent arrears in the very rare event it happens
  • We provide an annual statement of account, if required
  • We agree the terms of tenancy renewals , securing rent increases where possible
  • We provide a Design and Refurbishment service if needed

Full Management

Everything in Rent Management +

  • We will keep you updated with any relevant changes in legislation
  • We provide direct access to a dedicated local property management team
  • We meet and greet your Tenant as they move in
  • We visit the Property during the tenancy and produce a comprehensive annual report
  • We act as intermediary with insurance companies or block managers as required
  • We provide a 24 hour emergency service for you and your Tenants
  • We have our own Penny & Lisa maintenance engineers available to visit your property at short notice
  • Where necessary we instruct and pay contractors on your behalf
  • We ensure all contractors have the correct insurance prior to commencing any work
  • We arrange works and give access to best value contractor prices
  • We arrange repairs, maintenance and refurbishments, as required
  • We review the check-out report, advising on deductions from the deposit and agreeing any Tenants payments
  • We will continue to manage your property through any vacant periods at no further cost whilst we find a new tenant for you

Premium Management

Everything in Rent & Full Management +

  • A professional check-in included in our fee
  • A professional inventory included in our fee
  • A professional check-out included in our fee
  • An Energy Performance Certificate (EPC) included in our fee
  • An Annual Gas Safety Certificate (GSC) included in our fee
  • An Electrical Installation Condition Report (EICR) included in our fee
  • Installation of Carbon Monoxide (CO) detector included in our fee

 

Arranging day to day maintenance and repairs is included within the management fee. For any major repairs and refurbishment works, where the cost exceeds £350, we apply a 10% (12% incl VAT) administration and project management fee. If we are arranging extensive improvements on a property, where work exceeds £2500, then we will look to agree a project management fee for organising the work, which will be up to a maximum of 20% (24% incl VAT) of the invoice.

In addition to our Premium Management service we also offer a comprehensive all inclusive Full Management service at 16% (19.2% incl VAT) and a Rent Management service which is charged at 11% (13.2% incl VAT) as detailed above. By choosing either of these services the following additional charges would apply:

Professional Inventory Report - upon your instruction we will arrange for an inventory clerk to prepare an inventory for your property. The cost of the inventory will vary from £102 to £276 depending on the size of the property and level of furnishing.

Check-in and check-out - There will be a charge for an independent inventory clerk to meet your Tenant and carry out a check-in report at the commencement of the tenancy and a contribution from £144 towards the clerk checking the Property at the end of the tenancy.

International Bank Transfer Fee - When we are instructed to transfer funds overseas there will be a charge of £30.

Non-Scheduled Attendance at Property Fee - When we are required to attend the property outside the terms of our contractual obligations, including attending for deliveries or waiting for contractors, there is a charge of £72 for the first hour and £36 for any additional hours.

Electrical Installation Condition Report - Upon your instruction we will arrange for an electrician to visit your property and carry out the relevant safety checks. The cost of the report varies from £200 to £300 depending on the size of the property.

Energy Performance Certificate - Upon your instruction we will arrange for an energy assessor to visit the property, assess the energy rating and issue the certificate at a cost of £144.

Gas Safety Certificate - Upon your instruction we will arrange for a registered engineer to visit your property and carry out the relevant safety checks before issuing the certificate which will cost £96. A boiler service and gas safety certificate is a minimum of £184.

Carbon Monoxide Alarm - Upon your instruction we will arrange for Installation of a CO alarm for £60 for the first alarm and £30 per additional alarm, or installed at the same time as the GSC for £130

Property Licence Application Service - Should you require a licence for your property we are able to help with the application rom £375

An Early Surrender of Tenancy Fee of £300 is payable if you agree to end the Tenancy Agreement early in order for one or more Tenants, but not all Tenants, to replaced.

In addition to our all inclusive services and costs as detailed above we also offer a Full Management service at 15% (18% incl VAT) and a Rent Management service at 10% (12% incl VAT). By choosing either of these services the following fees would apply in addition to the above:

A New Tenancy Administration Fee of £480 contributes towards drawing up the tenancy agreement, collecting references on the new tenant, protecting the security deposit with a Government-authorised Scheme and provides the tenant(s) with a Deposit Certificate and Prescribed Information.

A Renewal Fee of £240 is paid in order to negotiate contracts, amend and update terms, arrange a further tenancy and re-register the security deposit with a Government-authorised scheme. It provides the tenant(s) with a Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy.

All prices include VAT


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