Services & Fees
No obligation consultation at the property
An initial consultation will take place at the prospective property which will provide an opportunity for Prime Surrey Lets and the landlord to discuss the marketability and achieveable rental of the property.
Fees are charged at a flat rate as opposed to a percentage of annual rental.
My fees are not liable to VAT charges and are intended to be inclusive as described below.
However, an upfront fee of £90 is taken to cover the cost of two months internet marketing. Any additional marketing will be charged accordingly.
My commission as detailed below is taken from the first month’s rent.
Tenant Find Service
1 Bed Flat £500
2 Bed Flat £600
Any other properties a commission equal to half first month’s rent but no less than £600.
This service requires Prime Surrey Lets to find a suitable tenant and to undertake the following tasks:
- To advertise the property on the major property sites, (photos included). Additional marketing may be undertaken if requested and will be charged at cost.
- To respond to enquiries via email or telephone, conduct viewings, flexible arrangements inc. weekends/evenings.
- Prime Surrey Lets will liaise closely and update the landlord with regard to offers/viewings.
- A professional referencing agency will be used and fees charged to the tenant.
- Handling of Deposit. Registering the money with the Deposit Protection Service.
- Producing contract, AST (Assured Shorthold Tenancy) .
- Handling first months’ rent. The rent will be paid into Prime Surrey Lets account whereupon Prime Surrey Lets fees are deducted and the balance forwarded onto the landlord. Thereafter arrangements can be made for a standing order to be made in favour of the landlord where future rental payments are made direct to them.
- Prime Surrey Lets will organise for the completion of an inventory.
Separate fees payable.
- Assisting in the transfer of utility accounts, meter readings taken.
- Overall assisting tenants move, and finally handing over the key to the new tenants!
PLEASE NOTE: Prime Surrey Lets strongly recommends an inventory is prepared. This can be outsourced to a recommended supplier or someone of the client’s choosing.
Full Management Service including Tenant Find Service (as described above)
Commission 10% of annual rent payable monthly for duration of the fixed term tenancy, and continuing into any renewal of the tenancy. Minimum contract of six months, minimum fee of £600 applies. (n.b. two month’s notice must be given if you no longer require full management).
What is full management?
To assist landlords a full management service is available. If you live some distance from your rental property you may require assistance in the event of a faulty boiler or washing machine for example.
It is accepted that as a landlord you are liable for any repairs to domestic appliances unless you feel that blatant misuse has occurred. Prime Surrey Lets will arrange for a suitably qualified tradesman to carry out any necessary repairs as appropriate.
It should be noted that the management service is intended to deal with general breakdowns/repairs. Generally speaking any costs incurred to the value of £175 will be deducted from the rent and all relevant invoices will be made available to the landlord. Any value of works in excess of £175 may be invoiced directly to the landlord for payment. Discussion between Prime Surrey Lets and the landlord will take place in the event of a major repair. Generally speaking Prime Surrey Lets will organise for repairs with a suitably qualified tradesman known to the company.
As part of the management service Prime Surrey Lets will visit the property, when the tenant is present, to ensure everything is as it should be. A visit will be arranged towards the end of the first month and thereafter every four months. Keeping up communication with one’s tenants benefits everyone and any ‘niggles’ or concerns will be noted and reported to the landlord via email.
A monthly statement will be forwarded to the landlord detailing rent received less management fees for Prime Surrey Lets or where expenses have been incurred relating to the management of the property.
In summary the above service includes finding a tenant, attending to minor repairs, property inspections and the collection of rent by standing order.
N.B. Prime Surrey Lets is happy to discuss ‘part managed’ service if required.
PLEASE NOTE THAT PRIME SURREY LETS RESERVES THE RIGHT TO DECLINE TAKING INSTRUCTIONS ON A PROPERT