West Norwood Landlord Fees 

MANAGEMENT FEE: 16.8% (14%+VAT) OF MONTHLY RENT + TENANT FIND FEE: 4.8% OF ANNUAL RENT (4%+VAT)
All points as for Letting and Fully Managed Services + PLUS +:

• Includes Rental Guarantee and Legal Fee Protection
• Professional Photography
• Floor Plans
• Enhanced Advertising as a Rightmove Featured Property and local magazines when available
• Annual Statements with sample Land and Property Pages completed to make your tax return completion easy!
•  Annual portfolio reviews and rent reviews

MANAGEMENT FEE: 14.4% (12%+VAT) OF MONTHLY RENT | TENANT FIND FEE: 4.8% OF ANNUAL RENT (4%+VAT)

• All points as for Rent Collection
• Dedicated property manager
• Securing Reposit bond or collecting 5 week security deposit from the tenant and transferring it into the DPS scheme ensuring it is fully protected
• Supervising the transfer of gas, electricity, water and council tax accounts into the tenant’s name
• Arranging the inventory and independent check in of your tenants with an inventory company
• Inspecting the property periodically, and reporting any problems to you (typically twice a year)
• Arranging any necessary repairs or maintenance, first liaising with you in the case of larger works over the £250 float
• Online Landlord Log ins – keeping an eye on the maintenance to your property and download your statements for free (Copy invoices emailed £15 incl per invoice/statement)
• Keeping in touch with the tenant, and arranging re-signing of the agreement as necessary (£180 incl)
• Arranging the independent check out of your tenants as required with an inventory company

RENT COLLECTION: 12% OF THE MONTHY RENT (10%+VAT) | TENANT FIND FEE: 4.8% OF ANNUAL RENT (4%+VAT)

• All points as for Letting Only
• Collecting the monthly rent via Direct Debit. We then keep an eye on their payments on your behalf, receiving the rent in and passing it on to you when we get it minus our service fee.
• Reconcile your rents daily where possible and always a working day in arrears, we then use a bulk payments system which sends the rent to your account two working days after this. This is the minimum operating time, you need to allow for weekends and bank holidays. If you are relying on the rent to cover a mortgage with no financial buffer available please note we advise always to leave at least a week as a minimum between your mortgage payment being due and the rent due date. It is advisable to apply to your mortgage provider to change the date of your payment to allow for this minimum plus other delays just in case, two weeks is ideal as it means the process can then be less stressful for you. We would however recommend all landlords have at least three months rent available to them as a contingency in case of voids and major unexpected repairs as a matter of course for their own peace of mind.

Tenant Find Fee: 8.6% of Annual rent (7%+VAT)

For landlords who want to take over the reins once the tenants have moved in.

• Visiting you at your property, providing a rental valuation and any other advice which you may require regarding letting your property
• Free professional advice to help your property meets regulatory requirements
• High quality digital photographs, a web page dedicated to your property and a downloadable and printable PDF
• Free advertising board
• Free listings on leading websites including Zoopla and Rightmove
• Accompanying tenant applicants to view the property
• Details on file: We will store your property details so that we can immediately remarket, and place it back on the web, as soon as you are given notice (thus reducing the chance of void periods in the future)
• Collecting the first month’s rent from the tenant and deducting our fees from this
• Collecting 5 week security deposit from the tenant and sending to the landlord to protect
• Credit checks and references – all tenants are fully referenced (employment, previous landlords and credit check) (£200 incl per applicant)
• Obtaining guarantors if required (£200 incl per guarantor)
• Preparing an Assured Shorthold Tenancy Agreement (AST) or appropriate agreement and arranging tenants’ signatures
• Arranging the check in and preparation of the independent inventory and schedule of condition with a professional Inventory company, and check out if required (at extra cost)
• Contract renewal with same tenants on request £180 incl

For landlords that have already found their own tenants and would like us to take the administration off their hands.
Please note, landlords accept students from countries other than the UK at their own risk as we are unable to credit check them

• Taking first months’ rent and security deposit
• Assured Shorthold Tenancy agreement
• Advice & help with Tenancy Deposit Scheme registration choices
• Collecting one month’s security deposit from the tenant and transferring it the landlord to protect
• Check in tenants
• Independent professional inventory
• Credit/reference checks
• £700 incl VAT – up to 2 bed properties
• £860 inc VAT – up to 3 beds /3 sharers
• £1020 inc VAT – for 4-5 bedrooms – up to 4 sharers
• 6 bed price on application due to inventory costs unknown

WHEN LETTING OUT YOUR PROPERTY

Northwood make a point of charging no automatic renewal commission should the tenants remain in the premises after the initial fixed term (we understand that we are one of only a handful of residential agencies offering this as standard practice).

• £150 incl for Gas Safety Certificate (if you do not already have one) or £170 incl including a boiler service.
• EPC (Energy Performance Certificate) if you do not already have a valid one as they last for 10 years – £95 incl up to 3 bedrooms, £100 incl 4 bedrooms, 5 beds+ POA – . Please note you must obtain an EPC on marketing by law
• Legionnaires risk assessment from £177 incl London
• Fire Risk Safety Assessments £POA
• Preparation of full independent professional inventory. Price varies depending on property size and furnishing, extra receptions and bathrooms and Sunday/bank holidays attract additional costs £200+
• Smoke alarms/carbon monoxide detectors supplied and fitted at time of inventory if found to be missing £94 incl per unit (10 year battery only)
• Management take over from another agency £300 incl initial set up fee plus management fee per month
• Check out – professional independent report on condition and what is recommended to withhold – if any from tenants’ deposit. Price varies depending on property size and furnishing, extra receptions and bathrooms and Sunday/bank holidays attract additional costs £250-£350 incl (+ for larger properties)
• A new contract signed with your existing tenants at the end of a fixed term. £180 incl
• We aim to reduce our carbon footprint and any negative impacts on the environment. As such, we use technology to produce all our documents in electronic form. If you would like a paper copy of any of our tenancy agreements, landlord agreement, there is a fee of £50 incl per document.