Once we have found the perfect tenant for your property, we will begin preparing the tenancy agreement promptly. The tenancy charges may vary, depending on the agreement we have with you, so it’s best to ask your local Marsh & Parsons office for a full breakdown of costs. We want to ensure that you won’t have any surprises when it comes to signing the contract, so here’s a list of what you can typically expect to pay.
We offer a simple and transparent commission structure that allows our landlords to spread the payment of our commission throughout the tenancy. Unlike most agents, our commission is deducted from the rent, so our landlords start receiving an income for their property as soon as the tenant moves in.
We are members of Property Redress for lettings. This government-approved independent redress scheme gives consumers additional protection beyond that required by law. We are also regulated members of ARLA and RICS, which means that any money we hold on your behalf is insured. This provides you with peace of mind and financial protection, ensuring 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.)
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 starts from £144, depending on the size of the property and the level of furnishing.
Check-in and check-out
There will be a charge for an independent inventory clerk to carry out a check-in report at the commencement of the tenancy. Costs start from £156, depending on the size of the property and the furnishing level. There is a contribution from £156 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.
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 £230 to £330, 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 £102. A boiler service and gas safety certificate is a minimum of £190.
Carbon Monoxide Alarm
Upon your instruction, we will arrange for the 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 £136.
Property Licence Application Service
Should you require a licence for your property, we are able to help with the application from £375.
Early Surrender of Tenancy
If you agree and your Tenant agree to surrender the Tenancy outside the contractual terms of the Tenancy, an administration charge of £360 will be charged.
Where we are required to deduct basic rate tax and account to HMRC for any landlords who live outside the UK, as we have not received an exemption certificate from HMRC, we will charge £60 for every quarter we provide this service.
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:
New Tenancy Administration Fee
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 providing the tenant(s) with a Deposit Certificate and Prescribed Information.
For Non-Housing Act Tenancy
For Non-Housing Act Tenancy – 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
A Rent Review Fee of £240 will be paid when we are required to serve a Section 13 notice to review the rent during a Periodic tenancy.
For any change of Tenant when an assignment or variation of the Tenancy is applicable, an administration fee of £240 is payable.
To organise additional keys to be cut where required, there will be a charge of £20 Where additional Property inspections are required under the Property licence conditions, there will be an additional £100 charge per visit.
If you wish to sell the Property, move a family member in, or give notice on full-time students in order to relet to students, we will serve a Section 8 on your behalf; the administration cost will be £240.
Protecting your rental income
We have partnered with a leading provider in the lettings industry to provide rent and legal protection. Once a prospective tenant passes all referencing checks, we will provide you with an added layer of security designed to safeguard your rental income and provide expert legal support in times of need. By having an ‘interest in’ the policy that we hold, you benefit from:
- Major breaches of tenancy
- Missed rental payments until vacant possession of the property, or up to 24 months, whichever is sooner
- Up to 3 months’ rental payments at 75% following vacant possession after a breach of tenancy, while we find you new tenants before reletting
- Legal Expenses up to £100,000 covered: access to comprehensive legal support for tenant disputes, including possession proceedings
- Backdated rent amounts once the Tribunal has reached a decision
- Peace of mind: reduced financial risk and greater security in managing your property portfolio
The service is priced at £36.50 – £100 per month per tenancy (inc. VAT), based on your tenancy profile.
For more information, please click here.
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