Landlord Services and Fees
Please refer to our terms and conditions of business for a full explanation of services and fees. All fees are subject to VAT.
| Core Lettings Services | Sole Agency Fee | Multiple Agency Fee |
|---|---|---|
|
Letting Introduction – Year 1
Tenancy extension 2nd and subsequent years |
9.6% (8%+VAT) of the rental term
6.6% (5.5%+VAT) of the rental term |
12% (10%+VAT) of the rental term
9% (7.5%+VAT) of the rental term |
|
Letting & Rent Administration – Year 1
Tenancy extension 2nd and subsequent years |
12.6% (10.5%+VAT) of the rental term
9.6% (8%+VAT) of the rental term |
15% (12.5%+VAT) of the rental term
12% (10%+VAT) of the rental term |
|
Letting & Full Management – Year 1
Tenancy extension 2nd and subsequent years |
15.6% (13%+VAT) of the rental term
12.6% (10.5%+VAT) of the rental term |
18% (15%+VAT) of the rental term
15% (12.5%+VAT) of the rental term |
| Additional services | Our fee |
|---|---|
| Tenancy Set Up Fee | £300 (£250+VAT) |
| Memorandum of Renewal /Tenancy Extension | £180 (£150+VAT) |
| Safety Checks / EPC | Contractors fee |
| Legal Liaison / Court Attendance | £90 (£75+VAT) per hour/part plus expenses |
| Courier Deliveries | £12 (£10+VAT) plus courier charge each |
| Copy Statements | £6 (£5+VAT) each |
| Key Cutting | £6 (£5+VAT) each |
| Sale to Tenant | Up to 1.8% (1.5%+VAT) of total sale price |
| Inventory Make and Checks | Inventory firms fee |
| Property Inspections/Visits | £120 (£100+VAT) per visit |
| Deposit Reconciliation | £360 (£300+VAT) |
| Overseas Landlord Quarterly Tax Submission | £60 (£50+VAT) per quarter |
| Overseas Postage | £30 (£25+VAT) per item plus postage |
| Security Deposit Administration | £120 (£100+VAT) |
| Serving of Appropriate Notices to Tenants | £120 (£100+VAT) |
| Termination of Part of Service | £240 (£200+VAT) |
| Electrical Appliance Safety Booklet | £12 (£10+VAT) |
| Landlord Withdrawal from Offer | £300 (£250+VAT) |
| Change of occupant (subject to approval) | £180 (£150+VAT) |
| Additional services for Full Management | Our fee |
|---|---|
| Safety Check Inspections | Contractors fee only |
| Extra Property Inspections/Visits | £120 (£100+VAT) per visit |
| Snagging Inspections | £60 (£50+VAT) per hour / part hour |
| Major Works Supervision | 12% (10%+VAT) of total cost of works |
| Consent Application | £60 (£50+VAT) each |
| Overseas Landlord Quarterly Tax Submission | £60 (£50+VAT) per quarter |
| Insurance Claims | £240 (£200+VAT) per claim |
| House Sitting | £90 (£75+VAT) per hour / part hour |
| Shopping | £36 (£30+VAT) per hour / part hour |
| Overseas Postage | £30 (£25+VAT) per item plus postage |
| HMO Licence Application | £300 (£250+VAT) per application |
| Floor Plan Creation 1 bed | £60 (£50+VAT) |
| Floor Plan Creation 2 bed | £90 (£75+VAT) |
| Floor Plan Creation 3+ bed | £120 (£100+VAT) |
| Change of occupant (subject to approval) | £180 (£150+VAT) |
| Outsourced services | Approximate cost inclusive of VAT (subject to change) |
|---|---|
| Energy Performance Certificate | £60 per property |
| Land Registry Title Deeds | £3 per property |
| Gas Safety Check | £60 per property |
| Installation of a Smoke Detector | £55-65 per unit installed |
| Electrical Safety Check | Prices vary depending on size of property £145-200 |
| Inventory/Check-in | Prices vary depending on size of property £150-375 |
| Check-out | Prices vary depending on size of property £150-375 |
| Cleaning | Prices vary depending on size of property £145-420 |
Tenant Fees
You will be required to pay a reservation fee equivalent to one weeks rent to secure a property and withdraw it from the market, which will be held during negotiations with the Landlord and whilst your referencing is carried out. Full terms can be found on the reservation receipt given to you at the time of making payment.
Once referencing is complete and successful, your reservation fee will go towards your first rental payment, which is due prior to the commencement of the Tenancy, along with a security deposit equivalent to 5 weeks rent which will be held in a deposit scheme for the duration of the tenancy.
Additional fees are listed below.
| Tenancies signed on or prior to 31 May 2019 | Our fee |
|---|---|
| Administration and Contract Fee per tenancy | £120 (£100+VAT) |
| Referencing per person | £60 (£50+VAT) |
| Check Out | Prices vary depending on size of property £150-375 |
| Professional Cleaning | Prices vary depending on size of property £145-420 |
| Late Rent Charge | £12 (£10+VAT) |
| Contract default advisory fee (per letter or email or call) | £30 (£25+VAT) |
| Amendments to Tenancy Agreement*** | £48 (£40+VAT) |
| Change of occupant* | £210 (£175+VAT) |
| Replacement occupant administration and referencing** | £180 (£150+VAT) per replacement occupant |
*payable by existing occupant
**payable by incoming occupant
***subject to landlords agreement
| Tenancies signed on or after 01 June 2019 | Our fee |
|---|---|
| Contract default advisory fee (per letter or email or call) | £6 (£5+VAT) |
| Amendments to Tenancy Agreement* | £48 (£40+VAT) |
| Change of occupant* | £48 (£40+VAT) plus referencing costs of replacement occupant |
*subject to landlords agreement
Sales Fees
Please refer to our terms and conditions of business for a full explanation of services and fees.
All fees are based on the agreed sale price and are subject to VAT.
| Sole Agency Fee | Joint Agency Fee | Multiple Agency Fee |
|---|---|---|
| 1.8% (1.5%+VAT) | 2.4% (2%+VAT) | 3% (2.5%+VAT) |
| Outsourced services | Approximate cost inclusive of VAT (subject to change) |
|---|---|
| Energy Performance Certificate | £60 per property |
| Land Registry Title Deeds | £3 per property |
All fees are subject change following periodic review.
Client Money Handling Procedures
BlakeStanley shall preserve the security of clients' money entrusted to its care in the course of its practice of business.
Our aim is to ensure that clients' money can be clearly linked to the clients to whom it belongs and is protected on their behalf at all times.
General controls
We ensure:
- employees have clear segregation of duties and responsibilities and that a Director or appropriately qualified individual oversees the client accounting function.
- that we employ competent and knowledgeable staff who are responsible for processing clients' money.
- that our accounting systems and client data are securely controlled and protected.
- that our computer systems are adequately protected for access, firewalls, backups and disaster recovery.
- all departments and branches apply the same level of controls in relation to the client accounting function.
Client bank accounts
We ensure:
- that our clients’ money is held in one client bank account separate from all other monies and that client money is available on demand.
- any client bank accounts are correctly titled to distinguish the accounts from an office or any other account.
- we have obtained written confirmation from the bank of the client account conditions.
- we advise clients in writing of the bank account details
Client accounting systems and controls
We ensure that:
- accounting records and systems are appropriate to the nature and volumes of client account transactions. We use a suitable software package to manage client money effectively.
- our systems provide details of all money received into and paid from the client account.
- our systems identify all receipts and payments to the client to which they relate.
- all ledgers have the client name and an appropriate description, e.g. the property address.
- client accounting records, including copies of reconciliations, are securely kept for at least six years plus the current year.
Controls over the receipt of client money
We ensure that:
- only a Director or Manager open incoming post.
- procedures exist to ensure all clients’ money is banked within three working days.
- all cash and cheques received by post or by hand are promptly recorded.
- procedures exist to identify and distinguish between clients’ and office money.
- mixed monies are initially paid into the client account and the office element paid in the office account when the receipt has cleared the bank.
- fees received in advance for professional work not yet billed are paid into a client account pending completion of the work.
Controls over the payment of client money
We ensure that:
- checks are made to ensure that sufficient funds are held on behalf of the relevant client before payments are made.
- adequate authorisation and supervision procedures are in place for payments made by cheque, bank transfer and electronic methods.
- all payment requests have supporting evidence and that documentation has been authorised in advance by a Director or other appropriate person.
- blank cheques are not signed, and unused cheques are kept securely.
- effective controls are in place over the setting up of new supplier accounts on the system.
- cash payments are avoided.
If you have anymore questions, please get in touch with us.
Broadway Market
020 7254 7554
Chatsworth Road
020 8986 2743