CONTRACT HOLDER FEE GUIDE
For contracts entered into before 1st September 2019, the contract holder fees applicable are detailed within your agreement.
As from 1st September 2019, for contracts beginning on or after this date, fees payable to letting agents to rent a property are no longer applicable. However, from time to time scontract holders may have to pay charges in certain circumstances.
For a full list of these, please see our Contract Holder Fee Guide below:
Holding Deposit The equivalent to 1 weeks rent (per property)
(this maybe non-refundable)
This fee is non-refundable should you decide not to progress your application / sign your contract within 15 Calendar days (unless otherwise mutually agreed) or if you have given false/misleading information on the application form or any applicant fails a Right to Rent check. It will be returned to you in the event the landlord is unable to proceed.
Deposit The equivalent of 4/5 weeks rent (per property).
This is to cover any damages, dilapidations and defaults on the part of the contract holder during the contract.
Unpaid Rent Interest at 3% above the Bank of England Base Rate
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Keys / Security Devices
Contract holders are liable to the actual cost of replacing any lost keys or other security devices. If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the contract holder/s, landlord any other persons requiring keys will be charged to the contract holders. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost keys or other security devices.
Ending a Occupation Contract Early / Early Termination (Contract Holders request)
In situations where a contract holder wants to leave a fixed-term contract early, if authorisation is given allowing the contract holder to vacate the premises before the expiration of any contract, you may be liable for the following:
• Rent - liable to pay for the entirety of the contract or up to the date the premises are re-let, whichever is sooner.• Any costs that the landlord encompasses in re-letting the property until the start date of the replacement contract.
• Council tax, water rates, gas and electricity charges along with any other bills which are the contract holders responsibility under the contract up to the date the premises are re-let, or the expiration of the contract, whichever is sooner.
• These costs will be no more than the maximum amount of rent outstanding on the contract.
Payments in Default
A payment in default is a payment required by the landlord or agent arising from a breach of the Occupation Contract by the contract holder, whether late payment of rent by its due date or some other breach.
These are occasions where it would be unfair for the landlord to be responsible for meeting the cost to them as a result of the actions of the contract holder.
Such as:
• Missed Appointments – a landlord/agent arranges with a contract holder for a contractor to carry out remedial work at a property, and a contract holder subsequently refuses entry, or not being home to allow entry, resulting in charges to the landlord.• Avoidable or purposeful damage to property – damage to a property caused by neglect or careless or wilful behaviour by the contract holder.
• Replacement keys – loss of keys by the contract holder requiring a landlord/agent to arrange for the cutting of new keys and delivery of those keys to the contract holder.
• Emergency / out of hours call-out fees – fees incurred as a result of a landlord/agent arranging for someone to attend the contract holders property at the request of a contract holder, suck as a locksmith or an emergency glazier at the early hours of the morning, when the problem has been caused by the contract holder in the first place, such as a window broken on purpose, or keys locked inside a house.
Other Permitted Payments
Any other permitted payments not included above, for breaches of contract or under the relevant legislation including contractual damages.
Contract Holder Protection
Olivegrove Residential Sales and Lettings Limited is a member of UKALA Total Loss CMP which is a client money protection scheme, and also a member of The Property Ombudsman (TPO) and Property Redress Scheme (PRS) which are redress schemes. You can find out more details by contacting us directly.
LANDLORD GUIDE TO SERVICES AND FEES
• Fully Managed Service – 12% of the monthly rent (10% + vat)
• Fully Managed Registration & New Contract Holder Fee - £426 (£355 + vat)
This includes booking on the property including photos, advertising, To-Let board, viewings (within office hours excl. weekends & Bank Holidays) contract holder referencing, rent collection, deposit registration, Occupation Contract, utility management and inspections.
• Let Only / Contract Holder Finder Fee - £525 (£437.50 + vat)
This includes booking on the property including photos, advertising, To-Let board and contract holder referencing.
• Contract Agreement Fee - £96 (£80 + vat)
• Utilities Management Fee - £50 (£41.67 + vat) per visit move in / out
• Deposit Registration Fee - £50 (£41.67 + vat)
• Contract Holder Deposit Dispute/Adjudication Assistance - £120 (£100 + vat)
This includes claim form, admin, solicitor fee for declaration. Preparation of all evidence and submitting the case to the DPS as well as dealing with correspondence. This only applies where the agent has protected the deposit.
• Check In / Out Fee - £96 (£80 + vat)
This includes an inspection of the property, pictures and handover / collection of keys.
• Additional Property Visits / Inspections - £72 (£60 + vat) per visit
• Service of Landlord notice to Terminate (RHW16) - £72 (£60 + vat) per notice
• Inventory Costs:
1-2 Beds: Unfurnished - £90 (£75 + vat) Furnished - £110 (£91.67 + vat)
3-4 Beds: Unfurnished - £110 (£91.67 + vat) Furnished - £130 (£108.33 + vat)
5+ Beds: Unfurnished - £130 (£108.33 + vat) Furnished - £150 (£125 + vat)
• Letter Requests/Copy Statements/Annual Returns - £20 each (£16.67 + vat)
• Rent Review - £50 (£41.67 + vat)
• Assistance in Registering with Rent Smart Wales - £50 (£41.67 + vat)
• Cutting of Keys - £20 (£16.67 + vat) In addition to the cost of keys cut
• EPC - £120 (£100 + vat) / Floor Plan - £96 (£80 + vat)
Both - £168 (£140 + vat)
• Gas Safety certificate - £108 (£90 + vat) (If any gas fires and appliances extra charges apply)
• Gas Safety Certificate & Boiler Service - £157 (£130.83 + vat)
• Electrical Periodic Inspection Report - £222 (£185 + vat)
• PAT Testing - Subject to Quotation
• Smoke Alarm Replacement - New Ei3016 Optical Smoke Alarm - £156 (£130 + vat) per alarm
• Alarm Reset - Subject to Quotation
• Full Legionella risk assessment - Subject to Quotation
• Pre or end of Tenancy Cleans – Subject to Quotation
• Eviction Handling – Subject to Quotation
• Arrangement of any maintenance/repair works to the property using our partner contractors – 15% admin fee + vat added to the total costs
SALE CHARGES
1% (minimum of £1,200) including VAT on the value of the property (this includes advertising on our website, window card, Rightmove, Facebook, Twitter and For Sale board).
Extras
• EPC - £120• Floor Plan - £96
• For both EPC and Floor Plan - £168
• Letter requests - £24 per letter
PLEASE NOTE THAT ALL ABOVE CHARGES INCLUDE VAT
