| Landlord Fees | Prices (+VAT) |
|---|---|
| Find a Tenant | £650 or 50% of the monthly rent, whichever is greater |
| Find a Tenant and Rent Collection | £650 or 50% of the monthly rent, whichever is greater, plus 5% of the monthly rent |
| Fully Managed | £550 Find a Tenant Fee plus 12% of the monthly rent |
| Full Managed and Rent Guarantee Insurance | £550 Find a Tenant Fee, 12% of the monthly rent plus £198 per annum |
| Services | Find a Tenant | Find a Tenant & Rent Collection | Full Management | Full Management & Rent Guarantee Insurance |
|---|---|---|---|---|
| Advertising and Marketing | ||||
| Arrange and accompanied viewings where necessary | ||||
| Introduce a tenant and complete Reference Checks | ||||
| Preparation and signing of Approved Tenancy Agreement | ||||
| Arrange for payment of deposit and first month’s rent | ||||
| Deposit registration and release | ||||
| Monthly rent collection and chasing of any rent arrears | ||||
| Produce accounts reports | ||||
| Arrange safety checks in accordance with current legislation | ||||
| Repairs and Maintenance Service | ||||
| Initial three-monthly inspection and six monthly thereafter | ||||
| Tenant welcome and exit meetings | ||||
| Assess dilapidations and deal with return of deposit* | ||||
| Rent Guarantee Insurance | ||||
| Proceedings and action for damage and rent arrears | Optional Extra | Optional Extra | Optional Extra | Optional Extra |
| Inventory and Check Out | Optional Extra | Optional Extra | Optional Extra | Optional Extra |
*Conditions apply
TENANT DEPOSITS
At youngsRPS, we offer two tenant deposit schemes.
Traditional Deposit Scheme
youngsRPS is registered with accredited custodial deposit providers including the Deposit Protection Service (DPS) and the Tenancy Deposit Scheme (TDS). If you decide upon using this scheme, the tenant will be asked to pay a bond up to a maximum of five weeks’ worth of rent. This money would be lodged by youngsRPS with the relevant protection scheme who would hold the funds until the tenancy ends.
For the vast majority of tenancies, letting agents, landlords and tenants agree on how the deposit should be divided between them at the end of the tenancy. In a small number of cases, the free dispute resolution service is needed to help come to an agreement. Our detailed inventories (additional cost) completed at the start of the tenancy help protect both the landlord and tenant by agreeing on the condition of the property at the point of moving in. These, along with any end of tenancy condition reports, can then be used to assist in the decision-making process. They are a vital record should there be a dispute at the end of the tenancy.
Alternative Deposit Scheme – Flatfair
We are now working alongside Flatfair, an alternative option to a traditional deposit scheme for landlords and tenants. Instead of the maximum five weeks’ worth of rent, tenants pay a small check in fee of one weeks’ rent or £120 (whichever is greater). This payment is non-refundable. Tenants are then required to pay for any damages they are responsible for when it is time to move out. Please note, the non-refundable deposit does not count towards any end of tenancy charges.
Tenants must pass referencing in order to qualify for this scheme.
RENT GUARANTEE INSURANCE
At youngsRPS, we pride ourselves on securing the best tenant rather than the first one for our landlord’s properties. Unfortunately, and on rare occasions, tenants may find their financial circumstances change unexpectedly e.g. relationship breakdown, redundancy etc. For some landlords, rent arrears can put a serious strain on their finances, particularly when they rely on this income to pay a buy-to-let mortgage. youngsRPS Rent Guarantee Insurance provides landlords with peace of mind that we will assist in settling a dispute in rent arrears or damage to a property outside of the legal system as well as handle the time-consuming task of making a settlement. With our service, you’ll always get the income you expect, regardless of whether the tenant has paid.
Client Money Protection
We are accredited agents of the RICS Client Money Protection (CMP) scheme and dedicated to protecting you and your assets.
To view our CMP accredited certificate, click here.
Our RICS Approved Certificate can be viewed here.