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 £1,152.00