Guide to landlord fees at the various stages

Our top priority is to ensure we make renting your property straightforward and simple

Whether you are a first time investor or a seasoned landlord, our job is to ensure that you receive the right advice to help you get the very best out of your property/portfolio. This includes being upfront about landlord fees.

We are members of The Property Ombudsman and also form part of the National Federation of Property Professionals Client Money Protection Scheme.

Instructing us to let your property

All you need to do is contact us. We will then arrange to either meet with you at your property or if you prefer arrange access via any existing tenants. Once we have seen your property, we will walk through your requirements in more detail, give you a suggested rental value and agree the best way to ensure you get the most suitable tenant within a timescale that meet your needs.

Agreeing which service best fits your needs

We believe that offering a tailor made choice of services to suit our client’s individual needs is essential in today’s ever changing rental market. From finding a single tenant to fully managing all aspects of a large portfolio, we have an excellent and easy to understand choice of services.

Fees are calculated on a percentage of the rent which is either charged monthly or for the term of the tenancy in advance. The fee agreed will depend on the type of service you choose, the size and rental value of your property and timescale required.

The below indicates the highest rate of pricing that may apply for each service, including VAT:

  • Tailor made by Townends. Your own bespoke solution, just tell us what you need and we will deliver it. Fees are quoted once your requirements have been discussed.
  • Managed 18%. Includes our let only and rent demand service in addition to managing all aspects of your tenancy from compliance requirements and routine maintenance to emergency situations, for your complete peace of mind.
  • Rent demand 15%. In addition to our let only service we will also manage the financial side of things throughout the tenancy.
  • Let only 12%. From marketing your property to finding you the right tenant, we have it covered.

Energy performance certificate (EPC)

Regulations have been in place since 2007 and state that an EPC must be ordered prior to a property going on the market. An EPC is valid for 10 years. If you don’t already hold a valid EPC on you property we can assist you in arranging this at a cost of £90.

Finding you the perfect tenant

All viewings will be arranged and accompanied by our dedicated lettings experts. We are available from 8.45am to 6.30pm Monday to Thursday, 8.45am to 6.00pm Friday and 9.00am to 4.00pm on Saturdays. Prior to taking any potential applicants out to your property, we will ensure that the appropriate questions have been asked to help us match the right tenant to your needs and requirements.

Once an applicant shows interest in your property, we will discuss this with you and subject to agreement proceed with the first stage of the process which involves us taking a Preliminary Payment (holding deposit) from the proposed applicant which shows their intent.

The referencing process

For your peace of mind, we use a secure and independent specialist referencing agency, who will complete a detailed application assessment. The process will include an employer’s reference to confirm the applicant’s income to rent ratio for affordability, a credit history check, confirmation of residency and a previous landlord’s reference (if applicable).

Signing the paperwork including your tenancy agreement

We will handle all the paperwork and provide a tenancy agreement for you and your tenant to sign. The tenancy agreement you will sign is a legally binding document of an agreed fixed period.

Please ensure that you understand your responsibilities and if you are unsure for any reason, seek legal advice before signing the agreement. Letting via Townends ensures you receive:

  • Help and advice through the referencing process
  • Simplicity and ease of signing documents online
  • A dedicated Co-ordinator to guide you through the pre-tenancy process
  • Your check-in, check-out and inventory organised
  • Safeguarding of the deposit (if required we can do this at a cost of £45 per annum)
  • Management of transferring your utilities
  • Arranging any works required to be carried out prior to the tenant moving in
  • Arranging and covering of our ‘Rent Protection Plus’ product which ensures your rental income is protected (for further information and pricing clarification please contact one of our Agents as this is priced dependent on rental value)

The cost of arranging all of the above, drawing up the tenancy agreement and the administrative process is £300.

Protecting the security deposit. 

A security deposit equivalent to 6 weeks rent is taken prior  to your tenants moving  into  the property. We are members of mydeposits and are able to protect this deposit as per the requirements of the Tenancy Deposit Scheme. Protection of the deposit will cost £45 per annum, however if you wish to get the deposit protected yourself, that is of course also possible and we will just need the certificate from you confirming this to be the case. Once received we will transfer the deposit to you for which we charge a transaction fee of £15.

Detailing the condition of the property

A professional inventory and check-in process is prepared prior to the tenancy commencing. In order to ensure that you have an accurate and independent report detailing the condition of the property at the point your tenants move in and then when they leave, is the best way to ensure that you are able to make any deductions from the deposit at the end of a tenancy (if applicable). A convenient time will be arranged for your tenants to meet with the inventory clerk to formally check them into the property and the same will also happen at check out. The check-in fee is usually paid by the tenants and the check-out fee you would be responsible for. Prices vary according to the size of your property as detailed below:

Studio 1 Bedroom 2 Bedrooms 3 Bedrooms 4 Bedrooms 5 Bedrooms
£125 £145 £155 £175 £190 £210

 Preparing a new inventory

If you don’t already have a professional inventory on your property, we can arrange this for you with costs varying between £110-£230 depending on the size of your property. You won’t need to have a new inventory prepared at the point of each new tenancy as this will be updated as part of the check in/out process. Usually a new inventory will only be necessary when you fully refurbish your property or make significant changes.

Gas safety

If you have a gas supply at your property, the Gas Safety (Installation and Use) Regulations 1998 state that you must have a valid Gas Safety Certificate at the point your tenants move in and carried out annually thereafter. We can arrange this for you if you wish at a cost of £110.

After your tenants have moved

Once your tenants have moved in, we will advise you of who to contact if you have any queries during the course of your tenancy and if we are managing your property we will communicate with your tenants to ensure they understand what they have to do in case of an emergency maintenance situation.

Finally, we also offer a range of additional services including rent protection. For more information, our team are always on hand to assist and our property support specialists can be contacted on 01932 736 505.

For a full set of our Terms & Conditions, please contact your local branch.

Version 16.01.2018