Every charge that a landlord or a tenant can incur through this office is set out below. There is no separate schedule that appears after you have signed.
Figures are shown exclusive of VAT, with the applicable rate stated against each item. Where a charge is described as a bank fee, it is passed through at cost.
Schedule of landlord costs
| Item | Cost | VAT | Note |
|---|---|---|---|
| Management fee | 5% | 20% | A flat 5% of rent collected. |
| Tenancy set-up or renewal | £50.00 | 20% | Administrative services. |
| Referencing | £25.00 | 20% | Per tenant or guarantor. |
| Tenancy amendments | £50.00 | 20% | Where the landlord requests a change to an existing tenancy. |
| Additional property visit | £75.00 | 20% | Visits made at the landlord's request, over and above the periodic inspections included in management. |
| Serving of notice | £50.00 | 20% | Service of a Section 21 notice (Form 6A). |
| Court attendance | £120.00 | 20% | Per hour. Travel time is charged in addition. |
| CHAPS transfer fee | £15.00 | 0% | Bank fee, passed through at cost. |
| Overseas money transfer fee | £35.00 | 0% | Bank fee, passed through at cost. |
Third-party costs
Landlords are also responsible for third-party costs incurred in the running of the property. These are not our charges; they are the cost of the work, and they include but are not limited to:
- Cleaning
- Repairs
- Maintenance
- Lettings fees
- Inventory and check-out
- Accountancy
Where a cost is anticipated, we obtain a quotation and seek your authority before instructing, other than in a genuine emergency where delay would cause further damage.
Schedule of tenant costs
| Item | Cost | VAT | Note |
|---|---|---|---|
| Holding deposit | One week's rent | 0% | Offset against the money due on move-in if the tenancy proceeds. |
| Security deposit | Five weeks' rent | 0% | Six weeks where the annual rent exceeds £50,000. |
| Rent and bills | As per the tenancy agreement | 0% | All property bills are payable by the tenant. |
| Tenancy amendments | £50.00 | 20% | Per change to an existing tenancy. |
| Late rent, interest | 3% above the Bank of England base rate | n/a | As set out in your tenancy agreement. |
| Late rent, additional charge | £70.00 | 20% | The charge doubles for each subsequent seven days the rent remains outstanding. |
| Early surrender | The landlord's reasonable costs | n/a | You remain liable for the rent and costs until a new tenancy begins. |
| Lost property | All costs incurred | 20% | Includes replacement fobs and keys, and changing locks. |
Deposits
Deposits taken on assured shorthold tenancies are protected in a government-approved scheme through the Deposit Protection Service, and the prescribed information is served on you within the statutory period.
Questions about a charge
If a charge on your statement is not clear, ask us: office@emluk.com or 020 7930 9333. If you are not satisfied with the answer, our complaints procedure sets out what happens next, including your right to refer the matter to The Property Ombudsman.