Fees & Terms
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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 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 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
The minimum fee to reserve a property is £350.00, this is taken off your first months rent when you move in, and is agreed subject to contract. Should you not to proceed with the let or if your references are not satisfactory this fee is not refundable.
INITIAL FEES & DEPOSIT FEES
Referencing, credit check, set up fee, contribution to the tenancy agreement and inventory & check in (where applicable): First adult tenant £295.00 inc vat. Each additional adult tenant thereafter £100.00 inc vat. Company tenant £395.00 inc vat Guarantor £80.00 inc vat Changing agreed terms (e.g. tenancy start date) £30.00 inc vat.
A security deposit to equal one & half months rent is required. This will be held with the DPS during your tenancy. Full details can be found at www.depositprotection.com.
Each adult moving in must complete a full credit reference form and return to us within 5 days. (If you do not return your forms within 5 days we will re market the property and you will lose your reservation fee). 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 six months (or details of your accountant if self employed), details of a character referee and your current bank details. 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.
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. (Standing orders will be set up to leave your account at least three days prior to the rent date, you must insure that funds are available for the given date, Any other form of payment i.e. cash or cheque will incur an administration fee of £12.00 inc vat). Rent not received on the agreed due date of the tenancy is a serious matter, if we need to write chasing rent a charge of £25.00inc vat will be made for any chase letters sent. You will also be liable to a £5.00inc vat per day charge until full payment is received. The remaining security deposit, the first months rent and any other relevant fees are to be paid on the day that we arrange for you to move in. This must be paid in cleared funds. Once all parties have signed the agreement (including the guarantor where applicable) and paid the balance of funds, keys will then be released. 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. An inventory (where applicable) will be sent to you within the first few days of moving in, you must check this thoroughly and all parties must sign and return within seven days of receipt.
Two months notice is required to vacate and this must be sent in writing 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. A fee of £85.00 inc vat is payable for the check out.
If you require a reference for your onward agent/landlord, a fee of £25.00inc VAT will be charged.