Set up fee | £720 (£600 + VAT)
The set-up fee includes agreeing the market rent and finding a tenant in accordance with the landlord’s guidelines. This involves marketing and advertising the property; erecting a board, carrying out accompanied viewings as appropriate. It also includes providing advice on any refurbishment work required to bring their property up to a high standard and providing
advice on legal compliance and statutory requirements.
Monthly fee (Percentage of the monthly rent) | 12% (10% + VAT)
This is a monthly commission calculated as a percentage of the monthly rent, for collecting and remitting the monthly rent received, deducting commission and other works and supplying monthly statements. When necessary it includes the pursuance of non-payment of rent and providing advice on rent arrears actions. It includes 4 monthly routine inspections and the landlord is provided with a written report. This fee covers advising all utility providers of any tenancy changes, arranging routine repairs and holding a set of keys.
Deposit registration fee | £60 (£50 + VAT)
All tenant’s deposits must be registered in a government authorised scheme. This fee is for registering the landlord and tenant details and protecting the security deposit; then providing the tenant with the deposit certificate and prescribed information within 30 days of the start of the tenancy. The scheme used by Tyler Estates is The Deposit Protection Scheme.
Inventory fee | £36 (£30 + VAT)
This is arguably the most important document between the landlord and the tenant. It is important to have a thorough and detailed inventory which serves a number of vital functions, including providing a catalogue of the let property, an unbiased record of its condition and any items included in the tenancy. It forms part of the legally binding contract.
Gas safety certificate | £45
The Gas safety (installation and use) regulations 1998 state that all new let and managed properties must have a gas safety certificate to start the tenancy and must be tested annually
Electrical safety check | varies on size of property
It is not a legal requirement to have the electrics tested, however at Tyler Estates we think it is good practice; as landlords and agents, we have a duty of care to your tenants.
Energy performance certificate and floor plan | £89
The EPC has been a legal requirement since 2008 and lasts for ten years. We need this certificate before we can secure you a tenant.