Michael Jones and Company

029 2034 2331

Landlord and Tenant Fees

FEES TO LANDLORDS

TENANT-FIND ONLY SERVICE
EQUIVALENT TO 2 WEEKS’ RENT + V.A.T. TO INCLUDE THE PREPARATION OF THE TENANCY AGREEMENT.

FOR A FULL COPY OF OUR TENANT-FIND ONLY TERMS AND CONDITIONS, PLEASE CONTACT US.

MANAGEMENT SERVICE
TENANT-FIND FEE (AS ABOVE) PLUS -

  • A MONTHLY CHARGE EQUAL TO 10% OF THE RENT + V.A.T. FOR RENTS IN EXCESS OF £500 P.C.M.
  • A MONTHLY CHARGE EQUAL TO 12.5% OF THE RENT + V.A.T. FOR RENTS LESS THAN £500 P.C.M.
  • PLUS THE COST OF PREPARING AN INVENTORY. (THIS IS A VARIABLE COST – PLEASE ASK FOR DETAILS.)

FOR A COPY OF OUR MANAGEMENT TERMS AND CONDITIONS, PLEASE CONTACT US.

RENEWAL OF TENANCY AGREEMENT
IF THE TENANTS WISH TO REMAIN FOR A FURTHER FIXED PERIOD THE FEE IS £120 INC. V.A.T. TOWARDS THE COST OF THE PREPARATION OF A NEW TENANCY AGREEMENT AND OTHER ADMINISTRATION COSTS.

FEES TO TENANTS

AGENCY (HOLDING) FEE
EQUIVALENT TO ONE WEEK’S RENT + V.A.T. THE PROPERTY WILL BE HELD FOR 5 WORKING DAYS TO ALLOW FOR THE REFERENCING PROCESS TO BE UNDERTAKEN.

NOTE: THIS IS NON-REFUNDABLE SHOULD THE TENANCY NOT PROCEED DUE TO THE FAILURE OF THE TENANT/S OR GUARANTOR/S REFERENCING PROCESS, OR SHOULD THE PROPOSED TENANT/S DECIDE NOT TO PROCEED FOR ANY REASON.

REFERENCING FEE
A FEE OF £18 (INC. V.A.T.) PER PERSON + £14.40 (INC. V.A.T.) PER PERSON FOR GUARANTOR REFERENCING WHERE REQUIRED.

CHANGES DURING THE TENANCY
THE FEE FOR A CHANGE OF TENANT DURING THE TENANCY (SUBJECT TO THE LANDLORD/S AGREEMENT AND INC. REFERENCING, PREPARING A NEW TENANCY AGREEMENT, BOND REGISTRATION ETC.) IS EQUAL TO ONE WEEK OF THE FULL RENT + V.A.T.

END OF TENANCY
THE CHECK-OUT FEE AS PER THE TERMS OF THE INDEPENDENT INVENTORY PROVIDER. ASK FOR DETAILS.

RENEWAL OF TENANCY AGREEMENT
SHOULD THE TENANTS WISH TO REMAIN FOR A FURTHER PERIOD (SUBJECT TO THE LANDLORD/S AGREEMENT) THE FEE WILL BE £30 (INC. V.A.T.) PER TENANT TOWARDS THE COST OF THE PREPARATION OF A NEW TENANCY AGREEMENT AND FOR UP-DATING THE BOND REGISTRATION WITH THE TENANCY DEPOSIT SCHEME (CURRENTLY T.D.S.)

PERIODIC TENANCIES
SHOULD THE TENANCY CONTINUE AS A PERIODIC TENANCY THERE WILL BE A SINGLE CHARGE OF £18 (INC. V.A.T.) FOR UP-DATING THE REGISTRATION DETAILS WITH THE TENANCY DEPOSIT SCHEME.

FEES TO LANDLORDS

TENANT-FIND ONLY SERVICE
75% OF ONE MONTH'S RENT PLUS V.A.T. TO INCLUDE THE PREPARATION OF THE TENANCY AGREEMENT.

FOR A FULL COPY OF OUR TENANT-FIND ONLY TERMS AND CONDITIONS, PLEASE ASK ONE OF OUR STAFF.

MANAGEMENT SERVICE
TENANT-FIND FEE, 75% OF ONE MONTH'S RENT PLUS A MONTHLY CHARGE SCALE OF:

  • 12.5% PLUS V.A.T FOR PROPERTIES OVER £1500 P.C.M.
  • 14% PLUS V.A.T FOR PROPERTIES BETWEEN £600 - £1500 P.C.M.
  • 16% PLUS V.A.T FOR PROPERTIES UNDER £600 AND NON-RESIDENT LANDLORDS
  • PLUS THE COST OF PREPARING AN INVENTORY, TOGETHER WITH THE CHECK OUT INVENTORY (THIS IS A VARIABLE COST – PLEASE ASK FOR DETAILS.)

FOR A COPY OF OUR MANAGEMENT TERMS AND CONDITIONS, PLEASE ASK ONE OF OUR STAFF.

RENEWAL OF TENANCY AGREEMENT
IF THE TENANTS WISH TO REMAIN FOR A FURTHER FIXED PERIOD THE FEE IS £120 INC. V.A.T. TOWARDS THE COST OF THE PREPARATION OF A NEW TENANCY AGREEMENT AND OTHER ADMINISTRATION COSTS.

FEES TO TENANTS (Applicable to Tenancy Agreements signed on or after 1st September 2019)

Before your Tenancy application can be fully considered, you will need to pay to us a holding deposit equivalent to one weeks’ rent for the property you are interested in. This is to reserve a property subject to contract, referencing and immigration checks.

Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, 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).

However, if the Landlord decides not to offer you a tenancy for reasons unconnected with the above then your deposit will be refunded within seven days. Should you be offered, and you accept a tenancy with our Landlord then your Holding Deposit will be credited to the first months’ rent due under that tenancy.

Where, for whatever reason, your Holding Deposit is neither refunded nor credited against any rental liability, you will be provided with written reasons for your Holding Deposit not being repaid within seven days.

You will not be asked to pay any fees or charges in connection with your application for a tenancy. However, if your application is successful under our standard assured shorthold tenancy agreement, you will be required to pay certain fees for any breach of that tenancy agreement in line with the Renting Homes (Fees etc.) (Wales) Act 2019.

The Renting Homes (Fees etc.) (Wales) Act 2019 permits certain fees/charges to be made where a tenant has defaulted on or breached their obligations under their Tenancy Agreement.

Default Fee for Late Payment
This is chargeable after 14 days rent arrears calculated on the interest at 4% above the Bank of England base rate for each day that the payment is outstanding.

Loss of Key or other Security Device
A minimum charge of £25 + VAT is payable to cover the cost of replacing a lost key or security device; however this fee will vary depending on the type of key, lock or device that has to be replaced. (e.g. electronic devices, fobs, special security keys/locks.) Also see the note under Emergency/out-of-hours call-out charges.

Payment on Termination of Tenancy
Where a tenant wants to leave a tenancy early, the landlord or agent is entitled to charge the tenant an early termination fee such as the landlords’ costs to re-let the property and any outstanding rent until a new tenant moves in.

Missed appointments
Such as a landlord arranging with a tenant for a contractor to carry out remedial work at a property, and a tenant subsequently refusing entry, or not being home to allow entry, resulting in charges to the landlord. Minimum fee of £25 + VAT. (excluding contractors’ call-out charge).

Avoidable or purposeful damage to property
Damage to a property caused by neglect or careless or wilful behaviour by the tenant.

Emergency/out of hours call-out charges
Costs (variable) incurred as a result of a landlord arranging for someone to attend the tenant’s property at the request of a tenant, such as a locksmith or an emergency glazier at the early hours of the morning, when the problem had been caused by the tenant in the first place, such as a window broken on purpose, or keys lost or locked inside a house.

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