Fees and Terms for Landlords

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Morgan Randall Fees and Terms

Standard Fees and Terms for Landlords

Lettings Service: 11% (13.2% inc.VAT):



  • Comprehensive marketing and Professional photography
  • Sourcing Tenants and Referencing Tenants
  • Drawing up Tenancy Agreements
  • Arranging pre-tenancy works and all regulatory compliances
  • Deposit Holding Services in Line with legislation
  • Negotiating Renewals on Tenancies
  • Collecting the rent and keeping you updated
  • Key Holding Services

Premium Management Service: 17% (20.4% inc.VAT):

Includes Letting Service +

  • Comprehensive marketing and Professional photography
  • Sourcing Tenants and Referencing Tenants
  • Drawing up Tenancy Agreements
  • Arranging pre-tenancy works and all regulatory compliance checks
  • Deposit Holding Services in Line with legislation
  • Negotiating Renewals on Tenancies
  • Collecting the rent and keeping you updated
  • Key Holding Services
  • Advice and Support when dealing with severe arrears cases and Access to Specialist Legal Advice
  • Property Inspections (6 monthly) and pro-Active property maintenance
  • Individual Property manager for both Landlord and Tenant
  • Out of hours 24hrs Emergency Service
  • Access to a panel of selected and Trusted maintenance
  • Contractors
  • Keeping your Health and Safety obligations up to date
  • Automatically arranging an Inventory Check out Report
  • Negotiating Dilapidation Claims and Dealing with Deposit Disputes
  • Arranging Post Tenancy works in Preparation for New Tenancy
  • Inclusive Deposit Registration
  • Inclusive Initial Inventory (updated every 5 years or for any major works)
  • Inclusive Check in report and Inclusive Tenant Check out Arrangements
  • Inclusive Gas Safety Check
  • Inclusive EPC certificate
  • Inclusive Tenancy Agreement
  • Inclusive regular Property Inspections
  • Inclusive End of Year Tax Summary and inclusive NRL Tax return (Non-UK landlords)
  • Inclusive management if Property is Vacant
  • Inclusive Section 21 Notice

Above fees is based on per Tenancy basis (initial term of six month or greater)
Fees for any renewal, extension, hold-over or new agreement after the initial term:

Lettings Service


9.6% inc. Vat for 1st renewal term commission after the initial period
7.2% inc. Vat for the 2nd term
4.8% inc. Vat for the 3rd term onwards

Includes:

  • Memorandum of Agreement
  • All above services included in initial tenancy

Management Service


7.2% inc. Vat

Includes:

  • Memorandum of Agreement
  • All above services included in initial tenancy

Fees for Short Term Lettings

(Initial term of less than six months):


Lettings and Management Service

 
Fees for period of initial Tenancy Agreement 31.2% inc. Vat
 
Fees for any renewals, extension, hold-over or new agreement 31.2 % inc. Vat

Additional Fees and Charges (Included in Premium Management Service):

Deposit Registration : £58.80 inc. VAT

Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme
Provide the tenant(s) with the Deposit certificate and Prescribed Information within 30 days of start of tenancy.


Initial Inventory : £264.00 inc. VAT

(updated every 5 years or for an major works)


Check In Report: £216.00 inc. VAT


Gas Safety Certificate : £118.80 inc. VAT

It is a criminal offence to let a premises with gas appliances (including but not limited to gas boilers, fires, heaters, and gas water heaters) that have not been checked by a GAS SAFE Registered Engineer at least once every 12 months. You will need to give your Tenant documentary proof of your compliance with these Regulations at the commencement of the tenancy and within 28 days of the safety record being certified.


Tenancy Agreement : £238.80 inc. VAT


Court Attendance Fee £180.00 inc. VAT per hour.

Regular Property Inspections : £ 120.00 inc. VAT


EPC Certificate: £118.80 inc. VAT

From 1st October 2008, the full EPC must be made available for any home, free of charge, to a prospective Tenant, at the earliest opportunity


Quarterly Non Resident £1140.00 inc. VAT


Landlord Tax return (£360.00 per Quarter)

To remit and balance the financial return to HMRC quarterly and respond to any specific query relating to the return from the Landlord and HMRC


End of Year Tax Summary: £102.00 inc. VAT


Management if Property is Vacant: £72.00 inc. VAT/month

Section 21 Notice: £60.00 inc. VAT

The eviction notice's official title in the courts is a 'Notice Requiring Possession (under section 21 of the Housing Act 1988)'. It's used in England & Wales by landlords to evict tenants and to gain possession of a property that is let under an assured shorthold tenancy