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 1,500 per month, our total commission fees would be 1800 + Vat (2160 inc Vat).

On a 12 month Let & Rent Collection letting of 1,500 per month, our total commission fees would be 1980 + Vat (2376 inc Vat).

On a 12 month Let & Managed letting of 1,500 per month, our total commission would be 2700 + Vat (3240 inc Vat).

Anti-Money Laundering Checks - 10.00 (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 - 60.00

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 - 80.00

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.

Smoke/Carbon Monoxide Alarm installation - 65.00 (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 - (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 100 - 300 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%.

Tuffin & Wren's Fees and Terms for Tenants

Holding Deposit

A holding deposit of 500 is payable upon signing the application form(s) and is non-refundable except in the case of the landlord terminating the contract whereby 500, less a reduced Administration Fee of 100 per person (to cover referencing and other administration costs etc.)

Administration Fees

A administration fee of 175 inc VAT per tenant is payable upon signing the application form(s) which is a contribution towards the costs of processing the application, referencing, drawing up of the tenancy agreement and registering the deposit etc.

Guarantor Fees

If a Guarantor is required, then a fee of 60 inc VAT per reference is required to cover referencing costs as well as the preparation of a Deed of Guarantor, as part of the tenancy agreement.

Additional Tenant Fee

Where an additional tenant is added to the tenancy agreement during a tenancy, then an administration fee of 150 inc VAT is required as a contribution towards the cost of processing the application, referencing, drawing up of a new tenancy agreement and re-registration of the deposit etc.

Renewal of Tenancy

We will contact you two months prior to the end of your tenancy and establish whether you wish to extend your tenancy for a further term. If the tenancy is renewed, we will make a charge of 30 inc VAT as a contribution towards our administration costs, drawing up of a new tenancy agreement etc.

Security Deposit

A deposit of 6 weeks rent (monthly rent x 12, divided by 52 weeks, x 6 weeks) must be paid in clear 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.

Inventory Schedule of Condition

Tuffin & Wren will be instructed by the Landlord as to what arrangements are to be made for the inventory and check-in. Unless agreed otherwise, the landlord will be responsible for the cost of the inventory and check-in report and the tenant will be liable for the cost of the check-out and any missed appointments. (The fee for this is dependant on the size and furnishings of the property).

VAT

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