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LETTINGS FEES TO TENANTS AND LANDLORDS

Information for Tenants 

We have listed below some important and useful information upon finding your new property with CHK Mountford.

Finding your new home

Whilst searching for your new home is both exciting and extremely rewarding it can often be time-consuming and perhaps difficult to coordinate within your own busy work schedule.

We at CHK Mountford aim to make your search as easy as possible by being as accommodating as possible to meet your viewing times and at the same time, assure you that our company policy is always to offer the best and highest quality property.

CHK Mountford’s landlord clients come to us as we have an unrivalled reputation for our high level of service and in turn this allows us to offer you an excellent selection of property from small commuter apartments to magnificent country homes throughout Surrey.

First step

Once you have found a new home and before you have paid over a payment of intent we will have explained our reference procedure and brought to your attention all the costs associated with your rental.  At the same time,  we will have explained the basis of the Tenancy Agreement to you. It’s always a good idea to ask as many questions as possible at this point to eliminate any possible misunderstanding at a future date.
 
SECURING THE PROPERTY/REFERENCES
 
Once we have agreed any terms with you and a date has been proposed for the move in we will ask you to make a payment of intent. This shows your commitment to proceed with the rental of the property, subject to contract. Please note that this will be credited against the first month’s rental. However, this is non-refundable in the event that you do not proceed with the rental or are unable to provide satisfactory references, which are required before any tenancy is signed. Please ask our office for further details on the reference procedure.

CLIENT MONEY PROTECTION (CMP) PROVIDED BY RICS
 
TENANT FEES:


• TENANCY AGREEMENT: £330.00 inc vat for the preparation of the original Agreement.

• ADMINSTRATION FEE: £60.00 inc vat per person. For the preparation, processing and archiving of other documents relating to the Tenancy.  Right to rent – checking identity, immigration and visa confirmation. Contract negotiation - agreeing terms and ensuring conditions are met. Administration – coordination of move in.

• REFERENCE FEE: £78.00 inc vat per person for a third party reference check.

• If a guarantor is required then a further administration charge of £162.00 inc vat is required.

• If, after terms have been agreed, further alterations have to be made to the Tenancy agreement then an administration charge of £72.00 inc vat is applicable.
 
EARLY TERMINATION: If a tenant terminates the contract early (with the agreement of the landlord), the following costs will be incurred: Contract rent payable until new tenant moves in: 10% + vat (12% inc vat) fee of total remainder of rent due under the contract

SECURITY DEPOSIT: In addition to the fees and the first month’s rent we require a security deposit which is usually the equivalent of six weeks rent. In rare cases the deposit may be higher, for example if there are pets in the property or if there are particularly high value items on the premises. This deposit is held as stakeholder by CHK Mountford in a bonded client account and is registered with the Tenancy Deposit Scheme (TDS).

This is returned at the end of the tenancy once agreement has been obtained in writing from both parties after the check-out procedure.

INVENTORY SERVICE: There is a charge applicable for the inventory service. The check out service fee will be stated in your tenancy agreement. Due to the variances of each property we can only give a guide at this stage, however an exact cost can be given for a specific property upon request.
 
The charges are as follows and are inclusive of vat;

Guide prices from 

Studio apartment £86
1 bedroom property £100
2 bedroom property £120
3 bedroom property £160                  
4 bedroom property £210
5 + bedroom property £280

RENEWALS: If you and the Landlord decide to renew the tenancy there will be a further administration fee of £180.00 inc vat.

MOVE IN PAYMENTS: All payments can be made by bank transfer (BACS or CHAPS)  or debit card.
 
RENTAL PAYMENTS: All rents are to be paid by a standing order mandate directly to either our company bank account or the landlords bank account, whichever is applicable. Please note that an administration charge of £30.00 inc vat will be levied if notice has to be sent regarding a late rent payment.

Insurance

Landlords will have insurance in place for their own possessions and the building itself, however, this will not cover your own items. Please ensure you have adequate contents insurance cover in place for the start of your new tenancy.

Information for Landlords 

LANDLORD FEES
 
Tenant find: 10% plus vat equivalent to 12% of rent (Inc vat)  

INCLUDES*:

• Collect and remit initial month's rent received
• Agree collection of any shortfall and payment method
• Provide tenant with method of payment
• Deduct any pre-tenancy invoices
• Make any HMRC deduction and provide tax certificate if relevant
* For a complete list of our lettings service please refer to our landlord's guide.

Rent Collection: 12.5% plus vat equivalent to 15% of rent (Inc vat)

INCLUDES*:

• Collect and remit the monthly rent received
• Deduct commission and charges for other works
• Pursue non-payment of rent and provide advice on rent arrears action
• Make any HMRC deduction and provide tax certificate if relevant
* For a complete list of our rent collection service please refer to our landlord's guide.

Fully managed: 15% plus vat equivalent to 18% of rent (Inc vat)

INCLUDES*:

• Collect and remit the monthly rent received
• Pursue non-payment of rent and provide advice on rent arrears action
• Deduct commission and charges for other works
• Advise all relevant utility providers of changes
• Undertake a minimum of two inspection visits per annum and report to the landlord
• Arrange routine repairs and instruct approved contractors
• Hold keys throughout the tenancy term
• Make any HMRC deduction and provide tax certificate if relevant
* For a complete list of our managed service please refer to our landlord's guide.

Deposit Registration Fee: £18 (inc vat)

• Register landlord and tenant details and protect the security deposit with a Government authorised scheme
• Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy

Tenancy agreement Fee: £330 (inc vat)

Additional property visits: £57 (inc vat)

• To attend for specific requests such as neighbour disputes; extra visits required to monitor the tenancy; or any maintenance linked visit

Submission of non-resident landlords receipts to HMRC: £60 (inc vat) quarterly

• To remit and balance the financial return to HMRC quarterly – and respond to any specific query relating to the return from the landlord or HMRC

Arrangement Fee for works over £1,000.00:  10% of net cost plus vat

• Arranging access and assessing costs with contractor
• Ensuring work has been carried out in accordance with the specification of works
• Retaining any warranty or guarantee as a result of any works

Arrangement fee for refurbishments over £2,000.00: 15% of net cost plus vat

• Arranging access and assessing costs with contractor;
• Ensuring work has been carried out in accordance with the specification of works
• Retaining any warranty or guarantee as a result of any works

Obtaining more than two contractors quotes: £60 (inc vat) per quote

Rent Renewal Fee £180 (inc vat)

• Review rent in accordance with current prevailing market conditions and advise the landlord
• Negotiate with tenant
• Direct tenant to make payment change as appropriate
• Update the tenancy agreement
• Serve Section 13 Notice if tenancy is on a rolling monthly basis
• Contract negotiation, amending and updating terms and arranging a further tenancy and agreement

• Checkout Fee (landlords share) This is usually a tenant's cost but please refer to the tenancy agreement
• Agree with tenant check out date and time appointment
• Instruct inventory provider to attend
• Negotiate with landlord and tenant any disbursement of the security deposit
• Return deposit as agreed with landlord and tenant to relevant parties
• Remit any disputed amount to Scheme for final adjudication
• Unprotect security deposit


Pre-let Package: An arrangement charge of £66.00 (Inc vat) will be levied on Letting Only and Rent Collection clients only if the said clients wish CHK Mountford to organise, arrange and co-ordinate either or all the following; Inventory, Gas Check, Energy Performance Certificate and cleaning.

Court Attendance £ 96 (inc vat) per hour
 
INVENTORY CHECK-IN SERVICE

There is a charge applicable for the inventory service. Due to the variances of each property we can only give a guide at this stage however, an exact cost can be given for a specific property upon request.

The approximate charges are as follows and are inclusive of vat;

 Check in guide price from 

Studio apartment £168 - £204
1 bedroom property £216 - £276
2 bedroom property £240 - £420
3 bedroom property £288 - £480
4 bedroom property £336 - £540
5 + bedroom property £372 - £720

SECURITY DEPOSIT: This deposit is held as stakeholder by CHK Mountford in a bonded client account and is registered with the Tenancy Deposit Scheme (TDS). This is returned at the end of the tenancy once agreement has been obtained in writing  from both parties after the check-out procedure

CLIENT MONEY PROTECTION (CMP) PROVIDED BY RICS
 
Gas test £90 (inc vat)

Portable Appliance Test (PAT) £114 (inc vat) minimum charge dependant on number of appliances

Energy Performance certificate (EPC) £114 (inc vat)

IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF
 
All fees quoted are inclusive of vat at the appropriate rate at the time of publishing. Rates last updated 3rd October 2017

Countrywide Residential Lettings Ltd trading as CHK Mountford, Registered Office County House, 100 New London Road, Chelmsford, Essex CM2 ORG. Registered in England Number 02995024 which is an agent and subsidiary of Countrywide Estate Agents, Registered Office Countrywide House, 88-103 Caldecotte Lake Drive, Caldecotte, Milton Keynes, Buckinghamshire, MK7 8JT. Registered in England Number 789476