FEE CHARGES

INCLUSIVE RENTAL SERVICE

Fees to Landlords

Minimum of 1-week upwards including utilities

  • Finding a tenant
  • Marketing of the property and carrying out accompanied viewings
  • Raising the tenancy agreement & arranging execution
  • Rent collection during the term
  • Deposit collection or if agreed, arranging letter of guarantee
  • Meeting the tenant or representative upon moving in, overseeing handing-over of the property
  • On call assistance, dealing with any queries that the tenant may have during their occupancy. Reporting when necessary to the client
  • Preparation of property prior to start of tenancy and provision of a tenant welcome pack
  • Check-out of property against the inventory

CHARGE

During the rental term a charge will be made at 25% of the agreed chargeable rent.

EXCLUSIVE RENTAL SERVICE

Fees to Landlord

Minimum of 6-months upwards excluding utilities

  • Finding a tenant
  • Marketing of the property and carrying out accompanied viewings
  • Applying for references
  • Rent collection during the term
  • Deposit collection or if agreed, arranging a letter of guarantee
  • Arranging formal inventory check-in & out procedures
  • Full Management dealing with all repairs and maintenance (excluding refurbishment works and Block Management matters)
  • Dealing with any queries that the tenant may have during the occupancy. Reporting when necessary to the client

CHARGE

During the rental term a charge will be made at 16% of the agreed chargeable rent.

ADDITIONAL CHARGES

Fees to Landlords (unless stated otherwise)

Reference Fee (Exclusive Rentals)

  • Employ the services of a reference agency to obtain references.
  • Check credit rating and complete compliance for Know Your Customer (KYC) a charge of £25.00 per named tenant is charged to the Landlord. An additional £25.00 is charged for Sanction Checks.

Tenancy Agreement (Exclusive Rentals)

  • Preparation of the necessary tenancy agreement, submition to both landlord and tenant for approval and final execution. Charge of £300.00 is made.
  • A charge of £150.00 is made for an extension or amendment memorandum or addendum.

Inventory (Inclusive & Exclusive Rentals)

  • Appointing independant inventory clerk, to compile a comprehensive listing of all chattels and condition within the property.
  • Exclusive Rentals: An independent inventory clerk is instructed on behalf of Finchlea Estates to compile. The cost will depend upon the size of the property however, an indication of cost can be given, subject to a 10% surcharge.
  • Inclusive Rentals: It is not necessary for an inventory to be compiled for each letting unless there are a large number of changes to the original. No charge will be made for minor changes.

Check-in (Inclusive & Exclusive Rentals)

  • Inclusive Rental Service: Included within the ‘Inclusive Rental Service’ for rentals up to £3,000 per week, otherwise charged as if an exclusive service.
  • Exclusive Rental Service: Finchlea Estates will employ an independent clerk and such charge will be subject to a 10% surcharge and charged to the Landlord.

Check-out (Inclusive & Exclusive Rentals)

  • Inclusive Rental Service – Included within the ‘Inclusive Rental Service’ for rentals up to £3,000 per week, otherwise charged as if an exclusive service.
  • Exclusive Rental Service – Finchlea Estates will employ an independent clerk and such charge will be subject to a 10% surcharge and charged to the Landlord if an Assured Shorthold tenancy or the Tenant if a Company or Contractual Tenancy.

Management (Inclusive & Exclusive Rentals)

  • Overseeing and resolving any issues the tenant may have with the property during tenancy. 
  • Arranging necessary maintenance, purchasing of replacement/required items. 
  • Making payment from the rent, contractors invoices and other accounts instructed to on behalf of the landlord.
  • All maintenance work is subject to authorisation by the landlord, although a minimum cost level maybe agreed with the landlord without having to obtain separate authority. In the event of an emergency, Finchlea Estates will make a discretionary decision.
  • Unless the exclusive rental service has been employed (except when a property is vacant), then a charge of 10% will be made on the net cost of any works/repairs instructed or any account settled on behalf of the landlord. This includes organised or accounts paid under the inclusive rental service.
  • For dealing with Insurance claims on behalf of the Landlord client, a charge of 10% will be made of the net cost of the claim.
  • In respect to the exclusive rental service a charge is made of 10% + VAT for the payment of Ground Rent and Service Charge accounts. This allows for our involvement in dealing on behalf of the client with Block Management related issues with Freeholders, Head Lessees and Management Companies. Otherwise, a charge of £175.00 + VAT per hour is made for dealing with any issue with the Freeholder or Block Managers, such broken down per 5 minutes.

              A separate charge is made for attending Block Management meetings on behalf of clients.

             – Between 08:30 – 18:00hrs Monday – Friday (working days) –

               £175.00 + VAT per hour including travel time.

              – Evenings & Weekends –

               £265.00 + VAT per hours including travelling times.

  • To act as a Director on the board of a Building Management Company is charged at £150 + VAT per hour of the time spent dealing with Company matters and attending meetings (Day Time), including reasonable travelling time.

Utility Accounts (Exclusive Rentals)

To transfer account holders details and advise suppliers of changes, a charge of £10.00 will be made for each account. This service only applies to the exclusive rental service. Finchlea Estates Limited are unable to transfer British Telecom account.

Cleaning & Laundry Welcome Pack (Requirement for Inclusive Short Term Rentals)

  • A pack containing soaps, wipes, washing machine detergent, dishwasher tablets (if applicable), toilet rolls etc, will be placed into the property of every inclusive rental (this is a compulsory requirement)

     £ 25.00. incl of one bathroom

     Additional bathroom/shower room/cloakroom – £5.00 each

     Dishwasher- additional – £5.00

  • Landlord Option on all exclusive rentals at the commencement of a rental

Deposit Scheme

Finchlea Estates is a member of ‘My Deposits’, a Government approved Deposit Scheme. Where a deposit falls within the rules of the scheme, the annual fee charged by the deposit scheme is charged to the Landlord.

Non-Resident Landlords

At the request of the Inland Revenue, Finchlea Estates is duty bound to prepare and submit rental statements for all Non-resident landlords at the end of each financial year.

Before a property is first rented, an Inland Revenue form will be issued for completion so that gross rent can be paid to the landlord, otherwise a large proportion will have to be retained on account to await settlement to the Inland Revenue.

A charge of £200.00 per property is made. An additional charge of £100.00 will be incurred for any each additional joint landlord, i.e. husband & wife, brother & sister or business partners.

Acquisitions

  • Ascertaining a client’s requirements and present suitable property options. Include prior viewing visits when required.
  • Accompany the client during site visits / property viewings.
  • Report to client, arranging a purchase, monitoring progress, attending ‘snagging’ inspections and dealing with handover.
  • A charge of 2% will be made of the agreed completion price including any monetary sums paid to the vendor. If a property is not within 30 minutes drive from either office of Finchlea Estates then an additional small charge will be made for attending a handover.
  • Such charges attract a minimum of fee of £2,500.00.
  • In the even of a client withdrawing from the service or a purchase, a charge of either £1,000.00 or 0.1% of the purchase price (which ever is the greatest) will be made. This fee is paid in advance by way of appointment though deducted from our final fee charge should the client proceed to purchase a property introduced by Finchlea Estates.

Sale Management

  • Instructing a third party agent to market and sell a property, liaising with the agent and client, overseeing the sale.
  • A charge of 1% will be made of the agreed sale price in addition to the agreed agent’s fee.
  • Prior good working relationships established with developers and with many agents, Finchlea Estates may obtain a discounted fees from agents for clients.
  • If a tenant agrees to purchase a property that they are renting or introduce a purchaser, then a charge of 2% will be made on the agreed sale price including all monetary sums paid to the vendor.

Interior Design & Furnishing

  • Oversee compilation of design a scheme, prepare a budget, oversee purchases, deliveries and positioning of furnishings. 
  • A charge of 10% will be made to the net total expenditure.
  • Before purchases are made, the total budget cost is to be paid in advance to Finchlea Estates to hold on account.

Third Party Agents

Finchlea Estates Limited has the right to instruct and work alongside selected 3rd Party agents. Their fees will be covered by Finchlea Estates within the fee charges agreed.

VALUE ADDED TAX (VAT)

All charges made by Finchlea Estates are subject to VAT at the prevailing rate of time of invoicing.