FEES

Tuffin & Wren's Fees and Expenses for Landlords

As each individual clients requirements are specific to them, our fees are often tailor-made to suit the landlords own set of circumstances however, for your information our Standard Scale of Fees are as follows;

Standard Scale of Fees

'Let Only' Instructions	10% + VAT (12% inc Vat)
'Let & Rent Collection' Instructions	11% + VAT (13.2% inc Vat)
'Let & Managed' Instructions	15% + Vat (18% inc Vat)
Tenancy Renewals Year 2 Year 3 & each year thereafter	8% + VAT (9.6% inc Vat) 6% + VAT (7.2% inc Vat)

Example of Fees

On a 12 month Let Only letting of Ł1,500 per month, our total commission fees would be Ł1800 + Vat (Ł2160 inc Vat).

On a 12 month Let & Rent Collection letting of Ł1,500 per month, our total commission fees would be Ł1980 + Vat (Ł2376 inc Vat).

On a 12 month Let & Managed letting of Ł1,500 per month, our total commission would be Ł2700 + Vat (Ł3240 inc Vat).

Anti-Money Laundering Checks - Ł10.00 (per check)

Tuffin & Wren are subject to the Money Laundering Regulations 2007. As a result we will need to obtain and hold evidence confirming your identity, proof of your address and source / destination of funds. We will be unable to proceed with any marketing until we are in receipt of this information and have completed satisfactory AML Checks.

Energy Performance Certificate - Ł60.00

In accordance with The Gas Safety (installation & Use) Regulations 1998, landlords are legally obliged to have all gas equipment safety checked by a Gas Safe registered engineer before the start of a tenancy and annually thereafter. If Tuffin & Wren are not provided with a valid Gas Safe certificate prior to commencement of the tenancy, we reserve the right to appoint our own Gas Safe engineer to carry out the inspection and where necessary, carry out any remedial works.

Gas Safe Certificate - Ł80.00

Smoke/Carbon Monoxide Alarm installation - Ł65.00 (per alarm)

In accordance with Smoke Alarm & Carbon Monoxide Alarm Regulations 2015, landlords are legally responsible for ensuring that smoke and carbon monoxide detectors/alarms are appropriately installed and are in proper working order at the start of each tenancy. Also, landlords will have to ensure that a smoke alarm is fitted on every floor of their property where there is a room used wholly or partly as living accommodation. They will also have to put a carbon monoxide alarm in any room where a solid fuel is burnt, such as wood, coal or biomass and includes open fires. It is also recommended (although not mandatory) that rooms with gas or oil burning appliances also have a carbon monoxide alarm fitted. Therefore, if no such alarms are in place prior to commencement of the tenancy, Tuffin & Wren reserve the right to appoint contractors to install the requisite number of detectors/alarms to ensure compliance with these regulations.

Inventory Schedule of Condition - Ł (dependent on size and furnishing of property)

If instructed to do so, arrange on behalf of the landlord the preparation of a professionally compiled independent inventory and check-in, prior to the commencement of the tenancy. The cost of the inventory can range from Ł100 - Ł300 dependent upon the size and furnishing of the property. All landlords will be advised of the additional charging before proceeding. Unless stated otherwise, the landlord is responsible for the cost of the Inventory and Check-In and the tenant is liable for the cost of the Check-Out at the end of the tenancy. Please note that if an inventory is not prepared, the landlord could jeopardise any claim on the tenants deposit. The landlord should also note that the inventory companies are independent of Tuffin & Wren and we therefore, cannot accept any responsibility for any errors or omissions.

VAT

All charges levied by Tuffin & Wren are subject to VAT at the prevailing rate, currently 20%.

Permitted Payments under The Tenants Fees Act 2019

Holding Deposit

A holding deposit equivalent to 1 weeks rent is payable upon the signing of the application form(s) and will be retained if;

the tenant withdraws from renting the property, or
the tenant fails a 'Right to Rent' check or,
the tenant provides false or misleading information or statements or,
fails to respond to reasonable requests for information, or
have been unable to exchange signed contracts within 15 calendar days of taking a holding deposit due to fault on the tenants' part (however, this can be extended by any period, provided mutual written agreement has been obtained from both the tenant and the landlord)

Security Deposit

A security deposit equivalent to 5 weeks rent (or 6 weeks if the annual rent is over Ł50,000) must be paid in cleared funds upon signing the approved tenancy agreement. Tuffin & Wren (or Landlord) acknowledges that such deposit will be held (and/or dealt with) in accordance with the Tenancy Deposit Schemes as provided for in the Housing Act 2004 and the Localism Act 2011. Also, Section 4 of the tenancy agreement refers to the rights under which the landlord shall have claim against the deposit. Both Landlord and Tenant must agree all deposit deductions in writing upon the termination of the tenancy or the disputed amount will be referred to the administrator of the Tenancy Deposit Scheme subscribed to, who will then determine matters in accordance with the provisions of that scheme.

Payment of Rent

The first months rent must be paid in cleared funds no later than two days prior to the commencement of the tenancy. Thereafter, rent is payable by standing order (unless agreed otherwise) to arrive on the due date as stated in the tenancy agreement. This means that the standing order must be set up so that the funds leave your own account three days before the rent is due. The full rent must be paid by a single standing order; we are unable to accept multiple payments or standing orders.

Default Fees

The following charges will be made;

Rent Arrears of 14 days or more will be charged at a daily rate of Bank of England Base Rate + 3%* (see note below)
Reasonable charges to replace lost keys or other security devices
Changes to (or 'Variation' of) the tenancy agreement, when requested by the tenant(s) - Ł50 (or reasonable costs incurred, if higher)
Early Termination (or 'Surrender') of the tenancy, when requested by the tenant(s) (other than when exercising a 'break clause') - The termination fee will reflect the actual loss suffered by the landlord (for example, loss of rent the landlord would have received) as well as the reasonable costs incurred by a letting agent (deed of surrender/reassignment, referencing and marketing costs etc).

Other Payments

The tenants are responsible for any utility services, such as gas, electric, or water consumed during the tenancy. They are also responsible for the Council Tax and media/telecommunications such as TV, internet, telephone etc.

*Failure to pay any or all of the rent on the date that the rent is due, and/or any other money payable under this Agreement remaining unpaid after the same becomes payable to pay interest as per Schedule 1, of the Tenant Fees Act 2019. Interest will be added to each day after the due date for which the rent remains unpaid, an annual percentage rate of +3% above the Bank of England base rate such interest to be calculated upon a daily basis on all outstanding monies from the date upon which each payment becomes payable until payment is made in cleared funds.