Fees and Terms

Fees and Terms

We are upfront about the charges we apply so you know exactly what you are paying for.

The charges you pay as a landlord may depend on the type of property you are letting, but we have provided a comprehensive breakdown of the fixed charges to give you an idea of what you can expect.

Residential Management Service Agreement

15% inclusive of VAT at 2.5% of the gross rent payable under the terms of the tenancy, subject to a minimum fee of £65 per month inclusive of VAT at £10.83.

Our service includes;

  • The appropriate marketing of your property.
  • Arranging viewings of the property with prospective tenants.
  • Referencing potential tenants.
  • Preparing a tenancy agreement.
  • Preparing an inventory and schedule of condition of the property.
  • Checking the tenant into the property and agreeing the inventory and schedule of condition of the property with the tenant.
  • Checking the tenant out of the property to agree the inventory and schedule of condition and assess any dilapidations.
  • Obtain a deposit from the tenant and hold it as stakeholder under the terms of the Tenancy Deposit Scheme (TDS) for the duration of the tenancy.
  • Paying rent received by the tenant to the landlord once a month.
  • Providing the landlord with a statement of income and expenditure once a month.
  • Arranging routine repairs.
  • Advising utility companies and council tax authority about the change of occupier.

Additional Non-Optional Fees and Charges;

  • A setting up fee of £90 inclusive of VAT at £15 for the creation of the initial tenancy.
  • A setting up fee of £90 inclusive of VAT at £15 for the creation of second and subsequent tenancies.
  • A To Let Board will be erected by agreement at a cost of £24 inclusive of VAT at £4.
  • Marketing costs of £72 inclusive of VAT at £12 per tenancy.
  • £30 inclusive of VAT at £5 shall be charged on each new tenancy agreement for the registering of the deposit in the TDS and to provide the tenant with the Deposit Certificate and Prescribed Information within 30 days of the commencement of the tenancy.
  • £90 inclusive of VAT at £15 for providing assistance to the Landlord in any legal proceedings or arbitration.
  • For the arranging of non-routine repairs and major works 10% inclusive of VAT at 1.67% of the cost of the works undertaken.
  • £50 inclusive of VAT at £8.33 for the submission of non -resident landlords receipts to HMRC.
  • Should the tenant subsequently purchase the property JW Wood shall charge in respect of an introduction fee, 1.25% inclusive of VAT at 0.25% of the purchase price.

Optional Charges;

  • For the negotiation of insurance claims, if required in excess of £2000 5% inclusive of VAT at 0.83% of the value of the claim.
  • JW Wood can arrange for an Energy Performance Certificate to be prepared for your property at a cost of £102 inclusive of VAT at £17.

 

If you have any questions on our fees, please ask a member of our staff.

 

Tenancy Creation Service

8.5% inclusive of VAT at 1.41% of the annual rent payable under the terms of the tenancy, subject to a minimum fee of £425 inclusive of VAT at £70.83.

Our service includes;

  • The appropriate marketing of your property.
  • Arranging viewings of the property with prospective tenants
  • Referencing potential tenants.
  • Preparing a tenancy agreement.
  • Preparing an inventory and schedule of condition of the property.
  • Checking the tenant into the property and agreeing the inventory and schedule of condition of the property with the tenant.
  • Checking the tenant out of the property to agree the inventory and schedule of condition and assess any dilapidations.
  • Obtain a deposit from the tenant and hold it as stakeholder under the terms of the Tenancy Deposit Scheme (TDS) for the duration of the tenancy.
  • Additional Non-Optional Fees and Charges
  • A To Let Board will be erected by agreement at a cost of £24 inclusive of VAT at £4.
  • Marketing costs of £72 inclusive of VAT at £12 per tenancy.
  • £30 inclusive of VAT at £5 shall be charged on each new tenancy agreement for the registering of the deposit in the TDS and to provide the tenant with the Deposit Certificate and Prescribed Information within 30 days of the commencement of the tenancy.
  • £95 inclusive of VAT at £15.83 for the service of renewing a Tenancy Agreement with an existing tenant
  • £90 inclusive of VAT at £15 for providing assistance to the Landlord in any legal proceedings or arbitration.

Optional Charges;

  • JW Wood can arrange for an Energy Performance Certificate to be prepared for your property at a cost of £102 inclusive of VAT at £17.

Notice;

Client Money Protection (CMP) is provided by the Tenancy Deposit Scheme (TDS).
Independent Redress is provided by: Ombudsman Services – Property (OSP).

Landlord fees for residential management and/or tenancy creation