TENANT FEES

Standard fees

When renting a property, there are various costs that you will need to take into consideration when making an offer.

Prior to your Tenancy:

– Advance Rent: Rent is usually payable in advance for each tenancy. You will therefore need to pay, as a minimum, the first months’ rent prior to the commencement of your tenancy, although the amount payable may differ dependent on the terms of your tenancy.

– Tenancy Deposit: This is the equivalent of 5 weeks’ rent (if the annual rent is less than £50,000) or 6 weeks’ rent (if the annual rent is £50,000 or more), payable prior to the commencement of your tenancy.

During your Tenancy:

– Late rental payment: Interest on late payment of rent will be charged at a rate of 3% per annum over The Bank of England’s base lending rate. This will not be levied until the rent is more than 14 days late.

– Lost keys or other security devices: In the event that any keys or other security devices are lost and need to be replaced, you will be required to pay the costs of replacing them. If the loss results in locks needing to be changed, you will be required to pay the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Other fees that may apply:

– Changes to the parties of the tenancy agreement at the tenant’s request (Tenancy Swap): In the event that you wish to make changes to the parties of the tenancy agreement, a new tenancy agreement will be required. A tenancy swap fee of £50 (inc. VAT) plus any reasonable costs incurred if higher, will be payable by the tenant. Please note that Tenancy Swaps are subject to the landlords consent and reference approval.

– Variation of Contract at the tenant’s request: In the event that you wish to make any changes to the terms of the tenancy agreement, an addendum will be required. A variation of contract fee of £50 (inc. VAT) will be payable by the tenant. Please note that a variation of contract is subject to the landlords consent.

– Early Termination of Contract at the tenant’s request: In the event that you wish to leave your contract early, you will be required to pay the landlord’s costs in re-letting the property as well as all rent, council tax and utilities due under the tenancy until the start date of the replacement tenancy. The costs will be no more than the maximum amount of rent outstanding on the tenancy.

LANDLORD FEES

Standard fees

At Marylebone Properties International we pride ourselves on being upfront about our fees, so you know right from the outset exactly what you will be paying for.

Please find enclosed a comprehensive list of our letting fees and charges for both landlords and tenants.  Should you require clarification of any of the following information, do not hesitate to speak with a member of your local lettings branch.  Also note that all our fees are inclusive of VAT unless otherwise stated.

LETTING CHARGES

• Letting Only

7% including VAT (i.e. 13.2%) of the agreed rent for the entire term due in full at the commencement of the tenancy and subject to a minimum fee of £900.

• Letting & Property Management

10% including VAT for letting and rent collect fee, of which is due in full at the commencement of the tenancy for the entire initial term. The property management fee is included.

• Short Lettings

20% including of the agreed rent for the entire term and any renewal / extension due in full at the commencement of the tenancy and renewal / extension. Subject to a minimum fee of £900.

• Renewal C0mmission

Same fees as agreed at the on the first contract for letting and management of the property and calculated on the agreed rent for the total rent reserved.

• Furnishing the Property

An administration fee of 10% including of total cost. Subject to minimum fee of £180.

• Gas Safety

£60 plus the cost of the gas safety check (not applicable with the property management service).

• Portable Appliance Test (PAT) arrangement fee

£60 including VAT plus the cost of the PAT test.

• Legionnaires Assessment arrangement fee

£60 including VAT plus the cost of the PAT test.

• EPC Arrangement Fee

£60 including VAT plus the cost of the PAT test.

• Smoke and Carbon Monoxide Alarms Installation Arrangement Fee

£60 including VAT plus the cost of the PAT test.

• Cancellation Fee

£600

• CHAPS Fee for Overseas Payments

£20

• Inventory charges.  In most lets, the Landlord will be responsible for paying the inventory check in costs at the beginning of the Tenancy and prior to the moving in of the Tenants. The cost is approximately £150 – £250 depending on the size of the property

Unless otherwise stated, all fees are inclusive of VAT

For clarification on any charges referred to herein, please contact us.

• Standard Fees
  • Selling Fees

  5%(including VAT) of the Premium and 10%(including VAT) of one-year rent of the Commercial Premises.

• The fees are applied to the transfer of the lease from the Current Tenant of a commercial Premises to a new one. The contract will be shown to you prior to enter into an agreement with Marylebone Properties International

Marylebone Properties International is member of TPO.

Marylebone Properties International is part of a DPS for Tenant Deposit Protection.

Client Money Protection: we are a member of the Clients Money Protection Scheme, ensuring the security and protection of client funds.