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Oliver Minton Lettings Fees (May 2018)


TENANTS FEES:

Once you have viewed a property and decided to apply, we require payment of an application referencing fee to hold the property whilst we conduct a comprehensive credit search.

Each applicants fee is £210 including VAT

Guarantor referencing is an additional £60 including VAT

We require two forms of identification such as passport, driving licence, bank statements, utility bills etc for each applicant. The application fee is only refundable if the Landlord decides not to go ahead with the tenancy. Should you fail the credit referencing due to adverse credit history, poor employment or landlord reference the application fee will not be refunded even in part.

On receipt of satisfactory references you will be offered a tenancy, you will then be required to pay additional monies on the signing of the tenancy agreement

1. Your first month rental amount
2. Your security deposit, which will be equal to one and a half’s month’s rent unless otherwise stated. This will be registered with The DPS for your protection.
3. The cost of the inventory which varies from property to property. This will be provided to you in writing before payment of the application fee.

 

The first month rent and deposit must be paid in cleared funds by bank transfer before move in.
We are unable to accept cash, cheques or credit card payments. Please be aware all tenancies will be assured shorthold for a minimum of 6 months unless otherwise stated. Should the tenancy be renewed at the end of the term there will be a charge for an agreement extension of £60 including VAT. Should rent not be paid on time we reserve the right to charge an administration charge of £12 including VAT for the first letter confirming non-receipt and for every subsequent 7 day period that rent remains unpaid.

If a tenant requests early termination of the contract and the landlord is in agreement for the property to be re-marketed in order to find suitable replacement tenants, then the tenant agrees to pay an early termination fee of £300 including VAT to cover re-marketing costs. This will be paid prior to re-marketing. In addition the tenant may be asked to pay the landlords administration fee of £120 including VAT and will also remain liable for the property and the rent until commencement of the new tenant’s contract.

 

LANDLORD FEES:

Most of our landlord clients have specific requirements, so we like to tailor our services accordingly to suit, which is why we do not offer a standard commission rate.

We ensure the commission charged is competitive as possible without compromising our high standards of service. So although a general guide of our fees are listed below, we would recommend that if you are thinking of renting out a property locally, to contact our Lettings Manager, Debbie Reynolds, on 01920 822999, to discuss in more detail, the various options available.

We offer a free market appraisal service.


Full Management

12% inc VAT of monthly rent

Initial Set Up Fee for each tenancy £ 120 inc VAT

EPC Compilation if required £70 inc VAT

Inventory Compilation at start of tenancy –price on application according to property size

Inventory Check out at end of tenancy-price on application according to property size

Renewal of tenancy agreement £60 inc VAT

 

Payment of the commission covers the following services:

  • Promoting and generally marketing the Property.
  • Introduction of a tenant for your property
  • Negotiating the terms of the Tenancy between yourself and the tenant.
  • Taking up references as agreed with the landlord through our preferred referencing company
  • Collection of the deposit payable by the tenant against dilapidation and forwarding of this to the government-authorised Deposit Protection Scheme
  • Organising a full property inspection and inventory check prior to the start of the tenancy and at the end, dealing with matters relating to unfair wear and tear before authorising release of the Tenant’s deposit from the DPS
  • Collecting the rent monthly and paying over to the Landlord monthly (normally sent within 3 days of collection) less any fees or expenses due or incurred for the period. Payments will be made by direct bank/BACS transfer. 
  • We try our best to notify service companies – all of which are payable by the tenant at the commencement and termination of the Tenancy.
  • Regular inspections of the Property are carried out throughout the term of the tenancy. Responsibility for and management of The Property when empty/vacant is not included, and will only be carried out by special arrangement.
  • Co-ordination of repair or maintenance including arranging for tradesmen to attend the property and obtaining estimates where necessary.
  • Negotiating rent increases with tenants and landlords

 

Tenant Find Only- Non Managed

50% of first months rent plus VAT

EPC Compilation if required £70 inc VAT

Inventory Compilation at start of tenancy –price on application according to property size

Inventory Check out at end of tenancy-price on application according to property size

Renewal of tenancy agreement £60 inc VAT

 

Payment of the commission covers the following services :

  • Promotion and marketing of the property
  • Negotiating the terms of the Tenancy between yourself and the tenant
  • Taking up references as agreed with the landlord through our preferred referencing company
  • Collection of the deposit payable by the tenant against dilapidation and forwarding of this to the government-authorised Deposit Protection Scheme
  • Organising a full property inspection and inventory check prior to the start of the tenancy and at the end, dealing with matters relating to unfair wear and tear before authorising release of the Tenant’s deposit from the DPS
  • Forward the first months rent to the landlord after deducting our fees/ charges as agreed


Landlords responsibilities throughout a tenant find only:

  • Collecting the monthly rent
  • Maintaining and checking the condition of the property
  • Attending to any maintenance issues during the tenancy
  • Negotiating tenancy renewals and rent increases
     

Please note that all of our clients’ money is held in a client money protection service (CMP) provided by PropertyMark and that we are regulated by The Property Ombudsman
 

Printable version of this information here

 

The Property Ombudsman Logo

Contact us

    Puckeridge: 28 High Street, Puckeridge, Hertfordshire SG11 1RN
    t: 01920 822999  •  e: puckeridge@oliverminton.com



    Stanstead Abbotts: 14 High Street, Stanstead Abbotts, Hertfordshire SG12 8AB
    t: 01920 412600  •  e: sales@oliverminton.com



     Roydon: 20 High Street, Roydon Essex  CM19 5HJ
     t: 01279 888212  •  e: sales@oliverminton.com



© Oliver Minton Estate Agents 2017. All rights reserved.   Terms and Conditions | Privacy Policy | Cookie Policy
Oliver Minton Estate Agents Ltd.   Registered in England & Wales.   Company No: 06475871.
Registered Office Address: 6-7 Castle Gate, Castle Street, Hertford, Herts. SG14 1HD.   VAT Registration No: 740725248

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