This is broken down into two parts. The first part is the introduction fee which is 7% + vat of the total rent for the 12 month tenancy. For example, if the rent was £1000 per month the fee would be as follows. £1000 X 12 (12 MONTHS RENT) = £12000 then 7% of £12000 = £840 + VAT = £1008. This fee includes marketing costs, tenant finding fee, full property inventory and a 12 month rent insurance policy which Stoneshaw Estates will take out on behalf of the landlord.
The second part is the monthly management charge which is 6% + vat of the month rent. For example, if the rent was £1000 per month the fee would be as follows. £1000 x 6% = £60 + vat = £72. This charge includes the collection of rent and paying this to the landlord, the day to day maintenance of the property and dealing with any issues that come up and quarterly property inspections.
For example, if the rent is £1000 per month the fee would be as follows. £1000 x 12 (12 month rent) = £12000 divided by 52 (52 weeks of the year) = £230.76 x 3 = 692.28 + vat = £830.73. Fee includes marketing costs and tenant finding fee.
Fee includes arrangement of a new tenancy, printing new tenancy documents and renewal of the rent insurance policy.
