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Tenant Admin Fees

At Let Me Properties we know that tenants have enough costs to pay when moving to a new home, paying the deposit, first rent in advance, moving costs, etc. you don’t want to have large, difficult to calculate, fees to pay your new letting agents at the start and throughout your new tenancy.

That is why we make our charges as simple as possible by ensuring that there aren’t lots of different things to charge for, just clear and simple charges as follows:

You will be subject to fair deposit deductions if you have damaged your property or not handed it back properly cleaned or maintained. We reserve the right to charge 12% [10% + VAT] of the cost of any deductions from your deposit towards our costs in arranging and overseeing the works required.

If you have any questions about these fees or anything else, please don’t hesitate to email us or call us on 01727846361

Let Me Properties letting agents in St Albans are SAFE Agent Members

Client Money Protection Insurance:

Let Me Properties’ Client Money Protection Insurance is provided by SafeAgent (A3852)

All safeagent accredited firms are part of a Client Money Protection (CMP) Scheme which offers recompense to tenants and landlords of rent, unprotected deposits or other client funds in the event that monies have been misappropriated or fraudulently used by a safeagent firm.

From 1 April 2019 all lettings and management firms handling clients’ money must be part of a Government approved Client Money Protection (CMP) Scheme in order to continue to trade. safeagent operates a Government approved CMP scheme.

Let Me Properties is proud to be a member of the Property Redress Scheme - PRS - letmeproperties.co.uk - letting agents in St Albans

Ombudsman Membership:

The Property Redress Scheme is a new, straightforward and easy to use consumer redress (ombudsman) scheme for Property Agents and Professionals.

The main purposes of the Property Redress Scheme are to allow Agents to comply with their legal requirement to be a member of a government authorised consumer redress scheme and to settle or resolve complaints made by consumers against our Members.

Our Members and consumers will both benefit from our simple three-stage process to resolve the complaint:

  1. The Member will first be given an opportunity to resolve the complaint directly
  2. The Property Redress Scheme offers a mediation service
  3. The Property Redress Scheme Ombudsman will make a binding decision on the complaint

For Historic Tenancies Entered Into Before 01/06/2019 (where the tenant has signed the tenancy agreement before 01/06/2019):

Compulsory Tenant Fees:

  • Tenant Admin Fees Only: £132 [£110 + VAT] per adult tenant (Minimum of £264 [£220 + VAT] for properties with 2 bedrooms, £396 [£330 + VAT] for properties with 3 or more bedrooms) – This fee covers application process, referencing and credit checking, creation of the tenancy agreement, first Right to Rent check appointment, and other administration involved in setting up your tenancy.
  • Total Inventory Fees (PER PROPERTY – including check-in and out):
    • £120 [£100+VAT] for Studio Properties
    • £144 [£120+VAT] for One Bedroom Properties
    • £156 [£130+VAT] for Two Bedroom Properties
    • £168 [£140+VAT] for Three Bedroom Properties
    • £192 [£160+VAT] for Four Bedroom Property
    • £204 [£170+VAT] for Five Bedroom Property
    • £228 [£190+VAT] for Six Bedroom Properties
    • For larger properties please contact us.
  • Key Release Fee: £48 [£40 + VAT] (PER PROPERTY – when no inventory fees apply) – Some Landlords do not use Professional Inventories – in these situations we will check the keys out to you – in these situations, there is a Key Release Fee but there are NO INVENTORY FEES

 

Extra Fees that may be required:

  • Guarantor Admin / Tenant Additional Referencing Fee: £72 [£60 + VAT] per person  (only where required – for guarantors, and for tenants who are self-employed, who own part or all of the company they work for, or those who are especially difficult to reference for any other reason)
  • Renewal Admin Fees only: £72 [£60 + VAT] for 12 months or more, £144 [£120+ VAT] for less than 12 months. International Tenant Renewal Fee / Company Let Renewal Fees are £288 [£240 + VAT] due to the additional work required (includes first Right to Rent Appointment – additional Right to Rent Appointments are £120 [£100 + VAT] per appointment). Should your tenancy become a Periodic Tenancy there is no Renewal fee, however an admin fee of £72 [£60 + VAT] will apply for the administration costs involved in protecting your tenancy deposit again and serving you with all the required documentation for deposit protection purposes for the rolling part of your tenancy [subject to landlord approval].
  • Company Lets and International Tenants Admin Fees: £420 [£350 + VAT] (only where applicable, if you are renting the property as a company, or if you are considered an “International Tenant” (Non-EEC Citizen) then this charge will apply to help cover the additional time and costs associated with dealing with your referencing, tenancy application, and tenancy set-up.)
  • Late Payment / Arrears Chasing Admin Fee: £48 [£40 + VAT] (only where applicable, if you owe money or have not paid your rent on time. Maximum 1 charge per week)
  • Incorrect Postage Fee: £12 [£10 + VAT] (only where applicable, if you/your guarantor/or anyone else on your behalf send anything to us in the post without paying the proper postage, resulting in us having to pay a fee to Royal Mail to receive the letter then this fee will be applied to the account for the head tenant of the related tenancy.  If Royal Mail demand more than £2 in additional payment from us we reserve the right to increase this fee accordingly to reflect the incorrect postage fee + our £10 administration charge + VAT)
  • Tenancy Amendment (before signing the tenancy agreement)/ Pet Addendum Fee: From £72 [£60 + VAT] – Subject to landlord approval – this fee is for creating an amendment or addendum to the tenancy agreement, such as allowing you to keep a pet at the property, inserting a custom clause into the tenancy agreement.
  • Tenancy Agreement Changes (after signing the tenancy agreement): From £240 [£200 + VAT] – Subject to landlord approval – this fee is for creating a new tenancy agreement, such as to allow a new tenant to join the tenancy, or to swap one of the existing tenants [Extra charges may apply for more complex changes, and where the deposit protection needs to be done again].
  • Letter Writing: From £48 [£40 + VAT] per letter (for any letters required, these may include but are not limited to: Complaint Letters Regarding You / Your Guests, letters confirming details of property suitability for immigration authorities, reference letters for mortgage providers, reference agencies,  etc.)Repeat Noise Complaints and Serious Noise Complaints take up a lot of our time and cause a lot of distress to all those involved. Were we continue to receive complaints about you or we receive very serious complaints about you the fees for dealing with this start from £100 + VAT.
  • Rental Payment Invoices: £120 [£100 + VAT] Sometimes company tenants or tenants who have their rent paid by their company or trust fund require invoices for rent payments. These can be supplied at a cost of £120 [£100 + VAT] for up to 12 invoices when all requested at the same time. We can provide FREE receipts showing payments that we have already received when requested in writing, however, for invoices there is a charge because this takes a lot of time for us to produce.
  • Tenancy Replacement Service / Tenancy Surrender: 1 Month’s Rent + VAT (minimum £600), along with £205 + VAT – Subject to landlord approval – this fee is for when a tenant needs to leave a property and be released from the tenancy before the end of the fixed term. Many times this is when a tenant gets a new job overseas or moves in with a partner. The cost is payable upfront and then we will start to advertise the property to new tenants. The old tenants are released from their liability from the day the new tenants move in. All rent and bills remain the tenants’ responsibility until the new tenants have moved in (This is subject to landlord approval and the terms of the “Tenant Replacement Service Agreement”)
  • Over-Payment / Accidental Payment Admin Fee: £72 [£60 + VAT] (if you pay us any money accidentally, once your tenancy with us is over, or at any other point in time when you were not meant to pay funds to us, there is an admin fee for our time and the administration caused due to your mistake. It takes a lot of time to handle situations like this and there is a lot of record keeping required to account for the funds.)
There are no hidden fees and these are some of the lowest fees charged in our area

Please make sure to check all fees carefully before even viewing a property with us and with any other agents listing properties you may be interested in.

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