Fees

Bladon Sears offer two different levels of service for rental:

 

Level 1 - Introduction of Tenant

 

Commission – 7% plus VAT of the first year’s rental.  Should the tenancy continue on a statutory periodic basis basis after year 1, our fee shall reduce to 5% plus VAT for the duration of the tenancy

 

.         Valuation of property for rental

.         Discuss any suggested works that would enhance property

.         Advise on legal requirements for rental properties

.         Marketing the property at the optimum rental value

.         Feature property on internet

.         Arrange viewings and where possible accompany all Tenants

.         Obtain all relevant references

.         Arrange Right to Rent check as per the Immigration Act

 

 

.         Draw up  an Assured Shorthold Tenancy Agreement for a period of 1 year with a 6 month break clause.  At the end of the fixed term of 1 year, the tenancy to continue on a statutory periodic basis whereby the landlord shall be required to give 2 months’ written notice and the tenant 1 month’s written notice to terminate the tenancy

.         Collect the first month’s rent and dilapidations deposit

.         If requested, arrange Rent Guarantee Insurance on behalf of the landlord at an annual premium of £199

 

Continuation of Tenancy after Year 1:

.         Liaise with tenant to see if they wish to continue the tenancy

.         Liaise with landlord to see if they are happy for tenant to continue

.         Re-evaluate current market value, re-negotiate rent & apply increase

          if applicable

.         Ensure any relevant legal documentation in place including Right to Rent

 

Level 2 - Full Management:

 

Commission – 12% plus VAT of the first year’s rental.  Should the tenancy continue on a statutory periodic basis after year 1, our fee shall reduce to 10% + VAT for the duration of the tenancy

 

This service includes the above points but in addition we:

.         Carry out regular inspections of the property

.         Following an inspection report back to the Landlord

.         Deal with all essential repairs during the tenancy

.         Hold a repair fund on behalf of the landlord

.         Register the tenant with utility companies, council tax & water rates

.         Forward copies of all repair invoices

.         Upon request, deduct additional outgoings i.e. service charges, final bills etc from the rental income

.         Collect rent and pass to Landlord

.         Lodge Dilapidations Deposit with Deposit Protection Service

.         Update Landlords of current and new legislation

.         Prepare rental income & expenditure accounts and to meet legal obligations, submit rental income figures to HMRC

  

Refurbishment of Property:

Commission – 10% plus VAT of the total cost of such works

 

Should you wish Bladon Sears to organise refurbishment works at a property our fee shall be 10% plus VAT of the total cost of such works.  Our normal Management service covers essential repairs to the property and is not inclusive of undertaking refurbishment

 

 Tenant Fees Act 1st June 2019

 

The above Act prohibits Landlords/Agents requesting that the Tenant/Guarantor make certain payments in connection with a tenancy. It shall, therefore, be mandatory for the Landlord to be responsible for the cost of:

 

·        Tenant/Guarantor referencing/credit checks – should the Landlord wish the Tenant/Guarantor to be fully referenced and credit checked, the cost to the Landlord for this will be £75 inc VAT per Tenant/Guarantor over  the age of 18.