James Dean Estate Agents
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Landlord fees and services

 

Fees & services

We can offer Landlords a full range of letting services from just referencing your private tenant, to sourcing a tenant only, through to fully managing the property. At JamesDean we have a range of fee structures starting from 8%. We can also offer a Rent protection & legal expenses warranty (ask for details). The main fee structures are listed below and give a small breakdown of the different services

Letting Only

Letting only means we advertise the property, accompany viewings wherever possible, source the tenants, reference them and arrange the moving in. The industry benchmark for this service is 10% + vat, JamesDean customers can benefit from our letting only service at 8%+ vat. 

Letting Only & Rent Collection

This service includes the above but with the addition of us receiving rents via Standing Order and passing rents direct to the Landlord. This means that should the tenant not pay for any reason, or is late we remove the stress from the Landlord of rent chasing. The industry benchmark for this service is 12.5% + vat, but we offer our letting & rent collection at 10% + vat. 

Full Management 

Full management means all of the above, plus looking after the property once the tenancy has been established, the industry benchmark fee for full management is 15% + vat but we offer full management at 12.5% + vat.

For landlords with more than one property, we do offer a discount scheme for further instructions.

 

Legal Expenses and Rent Guarantee (Nil Excess) - Call us for a quote:

  • Available 6 or 12 months
  • Property based cover (transferable between tenancies)
  • Nil Excess Rent Guarantee up to £20,000 or 12 month’s rent (no upper limit on monthly amount covered)
  • 50% or rent paid for 2 months after vacant possession is gained
  • Legal Expenses up to £50,000 including:
  • Eviction costs
  • Rent recovery
  • Property damage in excess of deposit taken (covering legal costs for any damage over deposit amount)

 

CONTACT US FOR A FULL COPY OF OUR GUIDE TO LETTING YOUR PROPERTY

   

Tenant fees, deposits and other important information

HOLDING DEPOSIT (per tenancy) - One week's rent. This is to reserve a property. Please note: this will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, 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).

FEES/DEFAULT FEES DURING TENANCY

Contract variation, novation, amendment or change of occupant at the tenant’s request within an existing tenancy £50inc VAT

Interest will be charged on overdue rent if the late payment has been overdue for 14 days or more. Any interest charged will not exceed the Bank of England’s base rate +3%.

Default fee for lost keys or other respective security devices. Actual cost of replacement

Early Termination (Tenants Request)Should the tenant wish to leave their contract early, they shall be liable for the landlords costs in re-letting the property as well as all rent 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.

 

DEPOSIT

Deposit charges for tenants are capped at 5 weeks’ rent where rent is less than £50,000 per year and at 6 weeks’ rent where rents are at £50,000 or more.

This will be held with the DPS during your tenancy. Full details can be found at www.depositprotection.com.  

 

REFERENCING

Each adult moving in must complete a full credit reference form and return to us within 5 days. This requires details of current and previous addresses over the past 12 months and any relevant landlords during such time, full employment details covering the last 12 months (or details of your accountant if self employed), and your current bank details. Please note: Income must total a minimum of 30 times the months rent.

Once we are in receipt of satisfactory references we will then confirm a date for occupancy (in the event that your referees do not respond in time we will not be held liable for any costs). You must not make any arrangements to move in unless a representative of JamesDean has confirmed this date to you in writing.

 

MOVING IN

On the agreed move in date all persons wishing to occupy the property must come to the office and sign the tenancy agreement (including the Guarantor where applicable), complete standing order mandates and provide identification.

The remaining security deposit and the first months rent are to be paid on the day that we arrange for you to move in. This can only be paid to us by either bank transfer or debit card.

Once all parties have signed the agreement (including the guarantor where applicable) and paid the balance of funds, keys will then be released or handed over to you by the inventory clerk on check in.

It is your responsibility to contact all the utility companies on the day of move in (gas, electric, water, council tax telephone etc.) and transfer them into your name.

Insurance

Tenants are responsible for providing cover for their own contents. JamesDean can provide comprehensive tenants contents insurance.

MOVING OUT

Notice must be given in line with your tenancy agreement. This must be sent in writing to our Property Management department and signed by all tenants.  At the end of your tenancy once you have returned your keys and provided proof that utilities have been transferred into your names we will then check the original inventory. Once we have the Landlords consent and providing there are no dilapidation's or damage to the property, your deposit will be refunded via the DPS.

 

Please note that our Client Money Protection is provided by Client Money Protect (CMP), membership number CMP005270, and we abide by their conduct and membership rules. Details can be found at: www.clientmoneyprotect.co.uk

 

Independent Redress is provided by The Property Ombudsman