Letting Fee Structure for Landlords:

Hackett Estate Agents offer our landlords two letting services; a Letting Only service and a Letting Only plus Management Service.

The Letting Only Service is charged at 10% +VAT (12%) of the gross rent for the period of the tenancy agreement, including any statutory periodic tenancy which arises following the expiry of the fixed term of the tenancy before any renewal tenancy agreement is entered into. This is a one-off fee payable upfront and is based on the gross annual rental achieved on the Property.

Includes:

• Agree the market rent and find a tenant in accordance with the landlord guidelines
• Carry out accompanied viewings (as appropriate)
• Market the property and advertise on relevant portals
• Collect first months rent & tenant security deposit
• Deduct any pre-tenancy invoices
• Provide tenant with method of payment

The Management Service is charged on top of the Letting Only Service at an additional rate of 6%+VAT (7.2%) of the gross rent for the period of the tenancy agreement and during any renewal tenancy agreement and/or renewal term, This is a monthly fee deducted from the gross annual rent collected.

Includes Letting Only Service points above plus:

• Collect future monthly rent payments & provide landlord with monthly statement
• Pursue non-payment of rent and provide advice on rent arrears actions
• Deduct commission and other works
• Advise all relevant utility providers of changes
• Arrange routine repairs up to the max cost of £420 (incl VAT) and instruct contractors for any one item; except in emergencies, obtain quotations for any works, repairs, redecoration or replacements likely to exceed £420 (incl VAT) and submit quotations to the Landlord for approval; where costs for any works, repairs redecoration or replacements exceed £1200 (inc VAT) we apply a 10%+VAT (12%) administration and project management fee.
• Hold keys throughout the tenancy
• Advise on non-resident tax status and HMRC (if relevant)
• An international Bank Transfer fee of £36 (inc VAT) applies when we are instructed to transfer funds overseas.
• report to HMRC (as required annually) the rental income received by an overseas landlord on thir property; this applies for overseas landlords only and is charged at £114 (inc VAT)

Renewal Tenancy Commission:

Renewal Commission is charged at 7%+VAT (8.4%) of the gross rent for the period of occupation by the tenant of any renewal agreement and/or renewed term to the current tenant. The Renewal Commission is payable up-front on the start of the renewal date. The additional Management Service fee charged at 6%+VAT (7.2%) of the gross rent for the period of the renewed term if the property is still being managed by Hackett Estate Agents and is taken on a monthly basis.

Includes:

• 2 months before end of fixed term contact landlord to establish whether landlord wants tenant to continue to occupy the property
• Review the rent and advise landlord if rent increase is viable depending on market conditions
• Negotiate new terms between existing tenant and landlord (if any)

Additional Charges to Landlords:

Hackett Estate Agents will charge a fee of £174 (incl VAT) for the following documents:

(a) each tenancy agreement

(b) each renewal agreement; and

(c) any supplemental agreement to the tenancy agreement

(d) the preparation of a Section 21 or Section 8 Notice

 Hackett Estate Agents will also charge £102 (incl VAT) for the following:

(a) the collecting and protecting in a relevant scheme any tenancy deposit taken in respect of a tenancy; provide the tenant/s with the Deposit Certificate, Prescribed Information & Information for Tenants Leaflet within 30 days of start of tenancy; and

(b) re-protecting in a relevant scheme any tenancy deposit taken in respect of a tenancy which is renewed at the end of the initial term and provide the tenant/s with the re-protected Deposit Certificate, further copy of the Prescribed Information & Information for Tenants Leaflet within 30 days of the renewal date.

Hackett Estate Agents will charge the landlord the appropriate price at the time of instruction in respect of carrying out the following via third party contractors. Costs for each of the below items start from £100 (inc VAT); and will vary on size of property;

(a) gas safety certificate

(b) electrical inspection

(c) energy performance certificate

(d) inventory preparation

(e) inventory check in/out

Hackett Estate Agents will charge a fee of £165 plus VAT (£198 inc VAT) for the following:

(a)    Legionella Risk Assessment;

(b)    any additional Legionella Risk Assessment during an existing tenancy; renewal tenancy; or periodic tenancy; if expressly requested to be completed by the Landlord.

Right to Rent Certificate Application:

Under the Immigration Act 2014 (S32 (6)(a)) the immigration status of all tenants has to be checked and verified before a tenancy or renewal tenancy can be granted. This is charged to the landlord for any tenancy agreement or and/or future renewal tenancy agreement at the cost of £42 (inc VAT) per tenant.

Refunds:

If the tenant/s serves notice on the Landlord to terminate the tenancy agreement before the end of its full term, Hackett Estate Agents may refund that proportion of the commission already received by it, as is equal to the proportion that the balance of the full term of the tenancy agreement bears to the full term of the tenancy agreement if it had not terminated early.

Property Redress Scheme:

Hackett Estate Agents are members the Property Redress Scheme (PRS) which is one of the approved government redress schemes.

Membership Number: PRS003329

Client Money Protection:

Hackett Estate Agents is the trading name of 'Hackett UK Limited' and are members of Propertymark Client Money Protection.

Membership Number: C0136185

Click to view CMP Certificate
Click to view MyDeposits Certificate 
Click to view PRS Certificate 
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