Below are some commonly asked questions by our landlords. However, should the below not answer your question, please do get in contact and we will be happy to assist further.
What are the agency fees and how are they calculated?
Scale of Fees for Long Term Lettings (initial term of six months or longer)
- Lettings and Management Service 13% + VAT = 15.6% (first year)
- Lettings Service 8% + VAT = 9.6% (first year)
- Renewal Service 4% + VAT = 4.8% (second and subsequent years)
- Management Service 5% + VAT = 6%
- Renewal and Management Service 9% + VAT = 10.8% (second and subsequent years)
Accommodate Management Ltd will charge the full Lettings charge (8% + VAT) on the first year only. The second year or renewal on a tenancy will be charged at the start of the second year, same applies to subsequent years on a tenancy agreement. In effect, you will recieve a 50% discount on a tenancy after the first year. Therefore you will not have to pay a two or three years fees upfront, these are paid and allocated in the period that they relate to.
Scale of Fees for Short Term Lettings (initial term of less than six months)
- Fees for period of initial tenancy agreement (including obligatory Management Service) 20% + VAT = 24%
- Fees on the Renewals (including obligatory Management Service) 15% + VAT =18%
Examples of fees:
- On a 12 month managed long letting of £1,200 per month our total fees of 15.6% would be £2,246.30
- On a 12 month non-managed long letting of £1,200 per month our total fees of 9.6% would be £1,382.40
- On a 12 month non-managed renewal of £1,200 per month our total fees of 4.8% would be £691.20
- On a four month managed short letting of £1,200 per month our commission fees of 24% would be £1,152
Does my property have to be furnished?
No, however it may be requested by the applicant when an offer is made. Most properties are furnished with the basics and will be clasified as part furnished i.e. beds, wardrobes, sofa and dining set.
What condition does my property have to be in?
Your property has to be in a good state of repair and ready to move into. We’ll arrange for some minor maintenance and cosmetic work if necessary to bring it up to standard. The key point is that the property meets health and safety requirements and complies with fire safety regulations.
How do you decide the level of rent?
We look at the size and location of the property as well as the general property market and trends, seasonality, local pricing as well as the condition of the property.
How do you pay me my rent?
The general rule is that the rent must be paid on or before the rent due date and we aim to pay you within 48 hrs of receipt via the BACS payment transfer system into the nominated bank account you provide us with.
Who is responsible for the utility and council tax bills?
The tenants are for all non-managed and managed properties. However, for managed properties, we contact the relevant utility companies to tell them the property has been tenanted, providing them with the tenants details and meter readings if necessary but the tenants must ensure this has been actioned by following up with the relevant utility company to ensure that they have actioned the notices.
Who will manage the property between tenancies?
If your property is managed by you, then you will be responsible for ensuring that the utility companies bill you during this period and have a correspondence address. Should you property be managed by us, then we will make the contact to the relevant utility companies and provide our address for correspondence.