Capital Properties | Fees
TENANTS FEES
TERMINATION
If you wish to terminate your tenancy prior to the end of your contract, and the landlord agrees to this, you will be responsible for the repayment of the pro-rata commission paid in advance by the landlord to the agent for the unexpired portion of the tenancy, unless you are leaving as per the break clause in your contract.
VARIATION
A charge of £50 inc VAT will be applied for any contract variation, novation, amendment or change of occupant at the tenant’s request within an existing tenancy. It is your obligation to obtain written consent from the landlord for any change in the identity of the tenants.
PAYMENT OF RENT
The first installment of rent must be paid in cleared funds prior to keys being released for you tenancy. The subsequent rent payments should arrive on the due date by cheque, cash or standing order. For managed properties, one rent should be paid each month and we will not accept multiple payments.
If you pay the rent late, we can charge you interest at the rate of 3% a year above the Bank of England base rate once the rent is 14 days late. We will charge you interest until the date we receive full payment.
REFERENCES/IDENTIFICATION
Capital Properties Management Ltd will take up references based on the details you supply. We will require photographic ID in the form of a Passport or Driving Licence for all applicants. In addition, with effect from 01/02/2016, following the introduction of the Immigration Act 2014, anyone from outside of the E.E.C. (European Economic Community) must provide proof of their visa status and checks will be carried out against this, these may involve checks with the Home Office. Periodic visa checks may be made after a tenancy has commenced. All these references/documents may be passed to your Landlord.
DEPOSIT
A deposit equivalent to 5 week's rent must be paid in cleared funds prior to keys being released for your tenancy.
Where Capital Properties Management Ltd holds the deposit we will hold it as Stakeholder in a designated Client Account. We will not pay any interest on deposits held.
For non-managed properties, the deposit will be passed to your landlord and he/she will be responsible for protecting it under one of the Government Authorised Deposit Schemes.
INSURANCE
It is your responsibility to insure your own belongings throughout the tenancy.
LANDLORD FEES
SERVICES
Letting Service: 10.8% incl. of VAT (9% + VAT)
Rent Collection & Letting Service: 13.2% incl. of VAT (11% + VAT)
Management & Letting Service: 16.8% incl. of VAT (14% + VAT)
In the event of the Tenancy being extended, whether or not negotiated by us beyond the first year we will collect our usual fees (applicable to each level of service)
TENANCY AGREEMENT
There is a fixed cost fee for referencing tenants which includes negotiating the tenancy, right to rent checks and verifying references : £90.00 incl VAT per tenant
This is a fixed cost fee for drawing up a new tenancy agreement only : £216 incl VAT
VARIATION OF EXISTING TENANCY AGREEMENT
Any contract variation, novation, amendment at the landlord’s request within an existing tenancy previously provided by us: £96.00 incl VAT
INVENTORY
Prepare In house Inventory Fees (if applicable):
Studio or 1 bedroom property £144 incl VAT
2 bedroom property £168 incl VAT
3/4 bedroom property £216 incl VAT
If an independent Inventory Company is used, the charges may vary, but should be in the region of
Studio or 1 bedroom property £144 incl VAT
2 bedroom property £156 incl VAT
3 bedroom property £174 incl VAT
4 bedroom property £188 incl VAT
Please ask for specific charges at the time the tenancy is being created.
CHECK IN FEES
If we carry out the Check In we will charge £96 incl VAT
DEPOSITS
If we protect your deposit with My|Deposits you will be charged a protection fee of £30 incl VAT
HMO LICENCE
Should you require a Licence for your property, we are able to help with applying for Mandatory, Additional or Selective Licencing. We charge £500 - £700 incl VAT (dependent on the size of property). This excludes the cost of Licence and any Risk Assessment or documentation required to grant Licence.
SECTION 21
To prepare Section 21 Notice £144.00 incl VAT
CARBON MONOXIDE DETECTOR
We will purchase and install a unit for £42.00 incl VAT
EPC CERTIFICATE
We will arrange for an energy assessor to visit the property, assess the energy rating and issue the Certificate for a fee commencing from £96 incl VAT (dependent on size of property).
CHECK OUT
For non managed properties the cost of an end of tenancy inventory check-out is £165 incl VAT for 1 to 3 bedroom properties and £235 incl VAT for 4 bedrooms and above.
Last reviewed 29.02.24
