Property Management Fees Overview

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.

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.