Our standard fees inclusive of VAT (except where stated otherwise) are detailed below:-
Introduction (let only) service.
9% of the first 12 months’ rent. The fees are due at the commencement of the tenancy and will normally be deducted from the first month’s rent.
Fully managed service.
15% of rents collected. The fees are deducted monthly or when we produce our statement to you.
Studio flat £120
One bedroom property £132
Two bedroom property £144
Three bedroom property £156
Four bedroom property £168
Five bedroom property £180
Tenancy agreement renewal (introduction only).
6 month tenancy £90
12 month tenancy £180
Re-referencing existing tenants.
£36 per tenant
Landlord withdrawal from tenancy following successful referencing of tenants.
Landlord termination of agreement with Wade Residential where tenants continue to rent the property (fully managed only).
1 month’s rent
Dealing with a deposit dispute at the end of a tenancy (introduction only).
Rent guarantee/legal expenses policy (fully managed only).
£240 per year
Property licence application.
Attendance at court.
£180 per visit/per day
Examples are Energy Performance Certificate, Floorplan, Electrical Test Certificate, Gas Safety Test certificate. These are invoiced by an independent contractor and will therefore vary, depending on the nature of the work. The cost of any invoice will be passed onto the landlord or deducted from the rent.
From 1st June 2019 the fees that an agent can charge to a tenant (inclusive of VAT) are now regulated by The Tenant Fees Act 2019 and are detailed below.
Holding Deposit (Per Tenancy).
Up to one weeks rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year).
Up to five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent over £50,000 per year):-
Up to six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s).
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request).
£50 per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request).
£50 per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant’s Request).
If it is agreed that the Tenant can leave their contract early, they shall be liable for any loss incurred by the Landlord. This will usually be all rent due under the tenancy until the start date of the replacement tenancy and the costs of re- re-letting the property.
Please contact us if you have any questions about our fees