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Landlords

UK Lettings Services and Fees

At Chestertons 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 below a comprehensive list of our letting fees and charges for landlords. 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.

Landlord Charges

Lettings Services

Letting & Rent Collection

11% plus 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 £1,500.

Letting & Property Management

17% plus VAT (i.e. 20.4%) of agreed rent;

11% plus VAT (i.e. 13.2%) letting and rent collect fee, of which is due in full at the commencement of the tenancy for the entire initial term, and 6% plus VAT (i.e. 7.2%) property management fee of which is due as the rent is collected. Subject to a minimum fee of £2400 inclusive of the letting and rent collect and property management fees.

Short Letting (inclusive of Property Management)

26% plus VAT (i.e. 31.2%) 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 £1,500.

Property Management Only (includes rent collection)

6% plus VAT (i.e. 7.2%) of the agreed rent for the entire term and any renewal / extension due as the rent is collected.

Renewal commission fee

10% plus VAT (i.e. 12%) of agreed rent for the total rent reserved under the terms of the tenancy together with property management commission if applicable (see part 6 of our Lettings Terms of Business).

Furnishing The Property

Administration fee of 10% plus VAT (i.e. 12%) of total cost. Subject to minimum fee of £180 (see clause 4.10 of our Lettings Terms of Business).

Presentation Service

£72 payable upon instruction & an administration fee of 10% plus VAT (i.e. 12%) of the total expenditure. Subject to a minimum charge of £300 (see clause 4.8 of our Lettings Terms of Business).

Agreement and Arrangement fees

New Tenancy Agreement fee

£300 payable by the landlord (see clause 6.9 of our Lettings Terms of Business). This is a split fee, paid equally by the landlord and tenant.

Tenancy Renewal Agreement fee

£150 payable by the Landlord (see clause 6.9 of our Lettings Terms of Business). This is a split fee, paid equally by the landlord and tenant.

Referencing Fee

£60 is payable in respect of each reference conducted for each individual Tenant, Occupant or Guarantor per Tenancy (see clauses 2.3, 2.9 and 6.10 of our Lettings Terms of Business; not applicable with the property management service or where the Tenancy is a non-Assured Shorthold Tenancy).

Deposit Registration fee

£30 (see clause 6.10 of our Lettings Terms of Business).

Gas Safety Check arrangement fee

£60 plus the cost of the gas safety check (see clause 1.8 of our Lettings Terms of Business; arrangement fee not applicable with the property management service).

Portable Appliance Test (PAT) arrangement fee

£60 plus the cost of the PAT test (see clause 1.9 of our Lettings Terms of Business; not applicable with the property management service).

Fixed Electrical Wiring Test arrangement fee

£60 plus the cost of the test (see clause 1.9 of our Lettings Terms of Business; arrangement fee not applicable with the property management service).

EPC arrangement fee

£60 plus the cost of the EPC (see clause 1.10 of our Lettings Terms of Business).

Legionnaires Assessment arrangement fee

£60 plus the cost of the assessment (see clause 1.14 of our Lettings Terms of Business).

Smoke and Carbon Monoxide Alarms Installation Arrangement Fee

£60 plus the cost of the alarm(s) and installation (see clause 1.11 of our Lettings Terms of Business; not applicable with the Property Management Service).

Paperwork to be prepared and submitted to the TDS

£240 (see clause 7 of our Lettings Terms of Business).

Deposit Dispute Copy Documentation Fee

£60 (see clause 7 of our Lettings Terms of Business).

HMO, Additional or Selective Licence Application Handling Fee

£600 (see clause 1.13 of our Lettings Terms of Business).

Property Visits required to complete the licensing application process

£96 per visit required (see clause 1.13 of our Lettings Terms of Business).

Right to rent re-check fee

£300 per check (see clause 2.4 of our Lettings Terms of Business; not applicable with the Property Management Service).

Miscellaneous Charges

Cancellation Fee

£600 (see clause 9.11 of our Lettings Terms of Business).

Overdue fees

Subject to Interest of 5% over the base lending rate of National Westminster Bank (see clause 6.12 of our Lettings Terms of Business).

Deposit Transfer administration fee

£72 (see clause 7.4.6 of our Lettings Terms of Business).

Additional copy statements

£60 for a minimum of 6 statements & £6 per additional statement (see clause 3.1 of our Lettings Terms of Business).

Transfer of funds to HMRC on behalf of Non-resident Landlords

£120 per quarter (see clause 9.17 of our Lettings Terms of Business).

CHAPS payments to overseas accounts

£16 (see clause 9.15 of our Lettings Terms of Business).

Miscellaneous Duties

£96 per hour (see clause 9.4 of our Lettings Terms of Business).

Serving of Notices

£60 (see clause 9.8 of our Lettings Terms of Business).

Courts and Tribunals appearance

£180 per hour (see clause 9.20 of our Lettings Terms of Business).

Applicable to the Fully Managed Service

Vacant Management

£210 per month subject to a minimum fee of £210 (see clause 4.11 of our Lettings Terms of Business).

Works under £500

Will be instructed without consultation with the Landlord unless otherwise instructed in writing (see clauses 4.3, 4.7 and 4.11 of our Lettings Terms of Business).

Works over £500

Subject to 10% plus VAT (i.e. 12%) arrangement fee of total cost (see clause 4.3 of our Lettings Terms of Business). .

Additional copy CDM reports

£60 for each additional CDM report (see clause 4.9 of our Lettings Terms of Business; excludes the first report provided) .

Additional Property Visits (2 per year included in service)

£96 (see clause 4.5 of our Lettings Terms of Business).

Working balance for a Managed Tenancy

If the Tenancy is fully managed, a working balance will be required at the start of the tenancy, usually between £750 and £1000. Please see clause 4.6 of our Lettings Terms of Business for further detail.

Tenant Charges

Assured Shorthold Tenancies (ASTs) signed before 1st June 2019
and all Non-Assured Shorthold Tenancies

New Tenancy Agreement fee

£300 payable by the tenant. This is a split fee, paid equally by the landlord and tenant.

Tenancy Renewal Agreement fee

£150 payable by the tenant. This is a split fee, paid equally by the landlord and tenant. This is payable upon renewal of the tenancy, should you and the landlord mutually agree to renew the tenancy for a further term.

Reference fee for each Tenant

£60 payable by each tenant, when you have agreed to undergo the independent referencing process. This includes a right to rent and credit check. References are carried out by an independent third party.

Reference fee for each Guarantor

£60 payable by each proposed Guarantor, when you have agreed to undergo the independent referencing process. This includes a credit check. References are carried out by an independent third party.

Right to Rent check only

£30 payable by each tenant or occupier. Only payable in circumstances where a full reference (as above) is not required.

Inventory Charges

In most lets, the tenant will be responsible for paying the inventory check in costs prior to the commencement of a tenancy. The cost is approximately £100– £250 depending on the size of the property.

Professional Clean

Tenants will usually be responsible for paying for a professional clean at the end of the tenancy. Costs can vary depending on the size of the property and your requirements.

Advance Rent

Rent is usually payable in advance for each tenancy. You will therefore need to pay, as a minimum, the first month’s 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 usually the equivalent of 6 weeks’ rent, payable prior to the commencement of your tenancy.

Tenancy Swap fee

£420 payable by the Tenant in respect of arranging the changes to the parties of the Tenancy Agreement

All Assured Shorthold Tenancies (ASTs) signed on or after 1st June 2019

Advance Rent

Rent is usually payable in advance for each tenancy. You will therefore need to pay, as a minimum, the first month’s 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.

Nil Deposit Scheme

Where Chestertons will manage the Property and subject to the landlord(s) prior agreement, you may choose to join the Let Alliance Nil Deposit Scheme instead of paying the deposit listed above. This service is not provided by Chestertons and any fees for using this service will be payable to Let Alliance after you apply. Further details can be obtained at www.letalliance.co.uk/tenants/nil-deposit-schemetenants Please note that where you chose to use the Nil Deposit Scheme, Let Alliance will pay to Chestertons a referral fee equivalent to 25% of the total cost.

Tenancy Swap /Change of Sharer fee (Tenant’s request)

£50 per change of tenant plus any reasonable costs incurred by the Landlord if higher (including new Tenant referencing and Right to Rent checks, preparation and execution of new legal document) subject to the landlords approval.

Variation of Contract fee (Tenant’s request)

£50 per variation subject to the landlord’s prior approval.

Early Termination of contract (Tenant’s request)

Should you wish to leave your contract early, subject to the landlord prior approval, you shall be liable for the landlord’s cost in relation to 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. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

Late or unpaid Rent

Interest on late payment of rent will be charged at a rate of 3% per annum over the Bank of England Base Rate from the Rent Due date until paid in order to pursue non- payment of rent. This will not be levied until the rent is more than 14 days late.

Lost Key(s) or other Security Devices

Tenants will be liable for 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 cost of a Locksmith, new lock and replacement keys for the tenant, landlord and any other person requiring keys will be charged to the tenant. If extra cost are incurred there will be a charge of £15 per hour for the time taken replacing lost key(s) or other security device(s).

Unless otherwise stated, all fees are inclusive of VAT

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

Additional Information

  • Chestertons is a member of ARLA, meaning each branch contains ARLA-qualified staff and works to the ARLA guidelines.
  • Client money is held in accordance with the RICS client money protection scheme rules which can be found here
  • For exclusions and limits click here
  • Chestertons is a member of the Property Ombudsman (TPO) scheme and subscribes to the TPO Code of Practice for Residential Lettings Agents.