Marshalls Property Services
Fees to: Landlords
1.0 Commission levels and charges
1.1 Letting and renewal service
12% of the total rent payable for the duration of the whole tenancy term, payable 12 months in advance. For tenancies extending beyond the original term, Marshalls’ Renewal Commission is 12% of the total rent payable for the period after the original term, payable in full and invoiced 12 monthly in advance, including any further renewals.
1.2 Letting, renewal and rent collection service
15% of the total rent payable, payable from and at the same frequency as rent received for the duration of the whole tenancy term.
1.3 Full management service
18% of the total rent payable, payable from and at the same frequency as rent received for the duration of the whole tenancy term.
1.4 Rent protection service
3.6% of the total rent payable, payable from and at the same frequency as rent received for the duration of the whole tenancy term.
1.5 Additional fees and charges
These fees and charges are reviewed on a periodic basis and charged at the rates currently in force at the time the invoice is raised.
Administration fee (landlord’s share) £192. This is a fixed cost fee that can cover a variety of works depending on the individual circumstances of each tenancy, including but not limited to, negotiating the tenancy, verifying references and drawing up contracts. This charge is applicable per tenancy.
Renewal fee (landlord’s share) £96 for arranging the necessary documentation and sending out for signature.
Preparation of an inventory report by an independent inventory clerk – variable costs dependent on the size and content of the property.
Check in of tenant by an independent inventory clerk – variable costs dependent on the size and content of the property.
Preparation and service of the most appropriate form of possession notice to the tenant £96.
Fee for the preparation of documents and submission to the Tenancy Deposit Scheme in the event of an unresolved dispute £180.
Major works co-ordination fee for works over £1,000, 12% of the total cost of the works.
Additional requested visits to the property £96 and when required to accompany a contractor £67.50 per hour.
Lodge and process any insurance claim 12% of the cost of the works.
Abortive tenancy fee should the landlord not wish to proceed with an accepted offer to cover services supplied £350.
Copies of previously supplied documents £15.
Quarterly submission of tax to HMRC for non-resident landlords without an approval number £66.
Vacant management service 50% of the management fee based on an agreed rental.
2.0 Description of Services
2.1 Letting and renewal service
Advise on the market rent and find a tenant in accordance with the landlord’s guidelines.
Advise on refurbishment and preparation of property.
Provide guidance on compliance with statutory provisions and letting consents.
Market the property and advertise on relevant portals.
Erect board outside property.
Advise on non-resident tax status and liaising with HMRC concerning rental income.
Carry out accompanied viewings.
Arrange collection and holding of a security deposit if appropriate.
Collection of first months rent and where possible, arranging for subsequent rents to be paid by standing order into the landlord’s bank account.
The commission fee and other tenancy invoices will be deducted from the first rent payment.
If agreed arranging for an inventory clerk to make an inventory of the furnishings, fixtures and fittings of the property.
Arranging for the inventory clerk to check the tenant in at the beginning of the tenancy and out at the termination of the tenancy, subject to being advised by the landlord and tenant. The check out cost is paid for by the tenant.
2.2 Letting, renewal and rent collection
All above items in section 2.1 plus:
Collection of rent.
Transfer of rent into the landlord’s account excluding our fee.
Submitting regular statements.
Operate rent arrears process should rent not be received.
2.3 Full management
All above items in sections 2.1 and 2.2 plus:
Liaise with utility suppliers.
Arrange routine repairs and instruct approved contractors.
Set up a float to deal with day-to-day management.
Arrange the necessary gas, electrical and other legal reports required to fulfil statutory obligations.
Carry out an annual property visit.
Provide an emergency out-of-hours service.
2.4 Rent protection
Marshalls will cover the rent and legal costs should a tenant default on rental payments during the term of the tenancy. Full terms and conditions of the cover are outlined within the Marshalls rent and legal costs protection plan document.