Standard Fees & Terms for Tenants Payment of rent The first instalment of rent must be paid in cleared funds when you sign the tenancy agreement. A refundable deposit, capped at six weeks' rent. The cap could be five weeks' rent for properties where the annual rent is less than £50,000, under an amendment put forward in the House of Lords. A holding deposit to reserve the property, capped at one week's rent. Changes to the tenancy requested by the tenant, £50 plus VAT. Early termination of the tenancy requested by the tenant.
Letting Fee Letting fees are payable in full upon the signing of agreements. The fees are deducted from the initial monies collected from the tenant and any balance is forwarded to the landlord along with a full statement of account and invoice. In all cases there is a minimum fee of £400. A fee of 8% plus VAT of the total gross rent is due on any lettings for the first year of the tenancy, (ignoring any options to terminate by either party) for any letting where Robert Lehrer Properties acted.
A fee of 7% of the total gross rent plus VAT is due for any subsequent is payable in full on the date of renewal for the following years.
Management – charged at an additional 4% plus VAT of the gross annual rent due for the full period of the tenancy and any subsequent renewals, (ignoring any options to terminate by either party).
Short Term Let A fee of 15% of the total gross rental due for the entire period of the tenancy or an extension. A minimum charge of £250 will be levied and cover tenancies not exceeding thirteen weeks.
Sales In the event of a sale being agreed with the tenant or any person or corporation associated with the tenant whether before or after entering into a agreement we will be entitled to a commission on upon completion of the sale which will be calculated at 2.5% of the purchase price plus VAT to include any figure for fixtures and fittings. If the property is repossessed or sold to a third party with the benefits of a tenant introduced by us, then the landlord shall indemnify us against any fees outstanding by us on the original letting or in respect of any fees which may arise as a result of any extension or renewal thereof.
Defaults by the tenant, such as fines for late rent payments or lost keys. These must be "reasonable costs", with evidence given in writing by the landlord or agent. Robert Lehrer Properties are members of UK ALA Client Money Protection Scheme and UK ALA Property Redress Scheme. Membership Number 188349