Lettings
If you wish to rent your property, our teams of advisors are on hand to assist you in maximizing your lettings potential. We will ensure you receive the best possible rental price and are able to advise you on every aspect of how the lettings process works. We specialise in residential lettings and property management and are dedicated to meeting the requirements of both landlords and tenants.
Landlords - Letting a property can be a worrying and uncertain time, especially if this is your first experience. Let our team of professionals take the stress away and make finding the most suitable tenant for your property a hassle-free experience. Our service includes advertising your property, vetting tenants, arranging gas safety checks, advice on legal matters, rent and deposit collection and rent setting, council tax and utility provider liaison and much more. This is brief guide to what we offer. Please phone us or call into our office to speak to one of our friendly team of experts.
Landlord Fees
When you choose to market your property for let with Milestone Estate Agents it is important that you understand and are aware of the fees for the services that we offer. An explanation of Milestone Estate Agents fees is provided below.
Services
New Let/Renewal/Replacement Tenant Fees
Let Only: 9%
Provide a market appraisal, advise on any refurbishment required and provide legal guidance to ensure your property let complies with the law. Erect a To Let board, advertise on relevant portals and conduct viewings until a suitable Tenant is found. We will administer the setting up of the tenancy and collect the first month’s rent and dilapidations deposit.
Rent Collect: 12%
In addition to Let Only, collect the rent from the Tenant throughout the tenancy and pursue non-payment of rent, providing regular statements.
Fully Managed: 15%
In addition to Let Only and Rent Collect, hold keys to the property so that we can arrange repairs/maintenance as required, on your behalf.
Tenancy Pack: £300
A fixed upfront fee for arranging the setting up of a tenancy which could include the tenancy agreement, tenant reference and right to rent checks.
Additional services and other charges
Deposit Registration Fee: £84 annually
An annual fee for registering a Tenant’s security deposit with a Government approved scheme.
Rent Protection & Legal Cover: £30.00 per month
A service available on Managed and Rent Collection properties to protect the monthly rental income.
Inventory Fee: £POA
Preparation of a report providing details of the contents of the property with a Schedule of Condition.
Check In Fee: £POA
Conduct a run through of the inventory at the property with the tenant, followed by a hand over of keys at the property.
Check Out Fee: £POA
Preparation of a comprehensive report on the condition of the property upon moving out.
Property Visits: £84.00 per visit
Preparation of a report providing the current condition of the property.
Service of Notices: £150.00
The preparation and serving of Notices: Form 6A, Section 8, Notice to quit and/or Section 13.
Annual Non Resident Landlord Administration Charge: £60.00/150.00
For the administration of providing mandatory information to HM Revenue and Customs on an annual basis and for providing an annual Income & Expenditure statement.
(HMRC gross rent approved / or unapproved.)
Land Registry Check: £12.00
To check the property’s land registry title deeds to establish ownership of the property.
Supply Duplicate Rental Statements: £30.00
Arrangement Fee for Safety Certificates - Let Only: £30.00 + invoice cost
Arrangement Fee for Safety Certificates - Rent Collect & Fully Managed: £15.00 + invoice cost
All fees quoted are inclusive of VAT at the prevailing rate where applicable.
Our Fees – Tenants
Tenant holding deposit: £ one weeks’ rent.
A non-refundable deposit paid by a tenant in order to secure a property whilst the administration takes place. If the let proceeds, this fee is refunded or offset against the move in monies
Security Deposit: five weeks’ rent – Rent under £50,000 per year.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit: £ six weeks’ rent – Rent of or over £50,000 per year.
This covers damages or defaults on the part of the tenant during the tenancy.
To amend a tenancy: £50.00 (Tenant’s Request).
Subject to the landlord’s approval for the amendment and satisfactory references of any incoming tenant. A charge made in order to administer a change to a tenancy including a replacement tenant situation.
Default Fees
Late payment of rent: Daily interest at the Bank of England’s base rate + 3%.
An interest charge will be applied if a rent payment is more than 14 days overdue for each day the payment is outstanding.
Lost keys: £25.00 for arranging replacement of the keys/locks + reasonable cost of the keys/lock. A charge for a lost key(s) or equivalent security device(s). The landlord or agent will provide evidence, in writing, to the person liable for the payment to demonstrate that the costs they have incurred are reasonable.
Early Termination (Tenant’s Request).
If the tenant wishes to surrender the tenancy during a fixed term (early termination), they shall be liable to the landlord’s costs in re-letting the property as well as rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Non-housing Act Tenancies
Reference fee (including tenancy agreement): £300.00.
An administration fee in order that referencing can be completed on the Company including ID checks on the Occupiers, financial checks and any other relevant checks to assess affordability, as well as contract negotiation and arranging completion of the tenancy agreement.
Guarantor reference fee (including tenancy agreement): £150.00.
An administration fee in order that referencing can be completed on the guarantor including ID checks on the occupiers, financial checks and any other relevant checks to assess affordability, as well as contract negotiation and arranging completion of the tenancy agreement.
Extension tenancy agreement (each tenancy) £200.00
An administration fee in order for a new fixed-term to be negotiated and agreed together with any new ID checks and arranging completion of the tenancy agreement.
All fees quoted are inclusive of VAT at the prevailing rate where applicable.
Milestone Estate Agents is an NAEA Licensed Member. Deposit protection provided by Tenancy Deposit Scheme (TDS). Independent Redress is provided by The Property Ombudsman.
