Questions and Answers
What is the full management fee percentage excluding VAT?
How much does the Landlord Regulation Check cost per month?
What is the fee for a tenancy agreement?
What is the cost of Right to Rent Checks for each tenant aged 18 or over?
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Which service incurs a fee of £199 before VAT?
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What is the range for Inventory Preparation fees including VAT?
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How much does Rent & Legal Protection Insurance cost excluding IPT?
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What is the charge for each additional property visit?
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Study Notes
Management Fees
- Full management fees charged at 13% (15.6% including VAT).
- Let & Rent Collection Service fees set at 10% (12% including VAT).
Additional Costs
- Landlord Regulation Check: £9.50/month (£11.40 including VAT), upfront payment required for Let Only services. Coverage includes:
- HMO Licence monitoring.
- Management of Deposit/Deposit Replacement Service.
- Legislative horizon scanning.
- Smoke and CO alarm checks at tenancy commencement.
- Tenancy agreement fee: £250 (£300 including VAT).
Referencing and Checks
- Referencing costs: £50 (£60 including VAT) per tenant or guarantor, applicable to students.
- Right to Rent Checks priced at £10 (£12 including VAT) for tenants, students, or occupants aged 18 years or older.
Marketing and Inventory
- Marketing Only Service fee: £199 (£238.80 including VAT).
- Inventory Preparation fees range from £100 to £600 (including VAT).
Insurance and Visits
- Rent & Legal Protection Insurance available at 3.92% (3.5% excluding IPT), offered only when rent is collected by the agency.
- Additional property visits charged at £55 (£66 including VAT) per visit.
Deposit Services
- Deposit/Deposit Replacement Service available exclusively with Full Management and Let & Rent Collection services (if Landlord Regulation Check is not selected), costing £6 per month (£7.20 including VAT).
- Zero Deposit Guarantee equivalent to 6 weeks' rent under a Deposit Replacement Product, with no cash deposit required.
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Description
This quiz covers the various management fees associated with property management, including service fees, additional costs, and referencing checks. Gain insights into financial obligations such as tenancy agreement fees and insurance options to better understand the complete cost structure in property rental.
