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Cambridge Property Lettings

Landlords: Property Management Fees

 

 

House Appraisals

A house appraisal to assess the suitablility of your property for letting.
Fee: Free

 

Tenant Finding Service

This involves finding a suitable tenant and completing the necessary legal documents.
The service includes:

  • Property appraisal and marketing
  • Rent negotiation
  • Preparation of tenancy agreement
  • Referencing and full credit check
  • Collection of first months rent and deposit.

Fee: a one-off fee of 50% + VAT of the first month’s rent, subject to a £500 minimum charge.

 

Full Property Management Service

A comprehensive service which allows landlords to enjoy the fruits of their valuable investment whilst we look after their property. This includes:

  • Tenant Finding Service (as detailed above)
  • Day-to-day managing of the property (taking on the hassle!)
  • Obtaining and renewing Electrical Fittings and Appliances Certificates
  • Obtaining and renewing Gas Safety Certificate
  • Collecting the deposit and monthly rent due
  • Dealing with day to day general repairs and maintenance on your behalf,
    subject to an agreed limit
  • Arranging for emergency repairs
  • Pro-active maintenance protecting your asset
  • Regular property inspections
  • Termination of Lease inspection.

Fees:

Family House:
11% + VAT of the monthly rental income

Shared/Student House:
12% + VAT of the monthly rental income

Purpose-built Flat (no garden):
8% + VAT of the monthly rental income, subject to a minimum rent of £900

Flat with garden, or in a converted building:
12% + VAT of the monthly rental income

 

Additional service charges:

Preparation of detailed inventory:
1 bedroom property: £75 + VAT
2 bedroom property: £85 + VAT
3 bedroom property: £95 + VAT
4 bedroom property: £105 + VAT
5 bedroom property: £115 + VAT

There is an additional charge of £25.00 + VAT where a property is furnished.

Re-letting fee:
Includes negotiation of new rent: £100 + VAT

 

What does the management fee not cover?

  • If repairs etc. exceed £750, Cambridge Property Lettings reserves the right to make an additional management charge of 15% plus VAT.
  • Cost of any work on the property and appliances.
  • Cost of obtaining the gas and electrical appliances certificates.
  • Cost of serving Notices upon the tenant:
    these are currently set at £25 plus VAT by post and £50 plus VAT when served in person.
  • Any legal or professional fees incurred with your approval.

 

 
Cambridge Property Lettings