At Ark Property Centre our Property Management Service has been created to take care of renting out your property in a professional but personal manner and we are confident of finding you quality tenants.

LANDLORD FEES

FULL MANAGEMENT

12% (10% + vat) of the monthly income

TENANCY SET UP FEE

£360 ( £300 + vat)

TENANT FIND ONLY

£420 (£350 +vat) one off fee

Please speak to the Rentals Team to discuss the different parts to the service we offer

 

COSTS INVOLVED FOR THE TENANTS

Holding Deposit: A refundable holding deposit (to reserve a property) equivalent to one week’s rent. This will be withheld if the applicant (or the guarantor) provide false or misleading information, fail a right to rent check, withdraw from the proposed agreement or fail to take all reasonable steps to enter an agreement (i.e. responding to reasonable requests for information required to progress the agreement) before the ‘deadline for agreement’. The ‘deadline for agreement’ for both parties is usually 15 days after a holding deposit has been received (unless otherwise agreed in writing).

Deposit: A tenancy deposit is used as security for the performance of any obligations, or the discharge of any liability arising under or in connection with the tenancy for example in case of any damage or unpaid rent or bills at the end of the tenancy. A refundable tenancy deposit is capped at no more than five weeks’ rent where the annual rent is less than £50,000, or six weeks’ rent where the total annual rent is £50,000 or above

Changes to the Tenancy: Payments to change the tenancy when requested by the tenant, is capped at £50, or reasonable costs incurred if higher Early Termination: If a tenant requests to leave before the end of their tenancy they will be charged to cover the financial loss that the landlord has suffered in permitting, or reasonable costs that have been incurred by the agent in arranging for the tenant to leave early, and for the rent they would have received before the tenancy reaches its end.

Late Rent Payment: A late rent payment will be charged if the rent is outstanding after 14 calendar days and has still not been paid. We will levy the late payment until day 14 but charge from day one. The charge will be at 3% above Bank of England base rate for each day that the payment is outstanding.

Lost Keys or Other Security Devices: Tenants will be charged a fee to cover the cost of replacing a lost key or security device. This fee will be dependent on the style and make of the key/lock/device. Reasonable costs that have been incurred as a result of having to replace the key or security device will be charged to the tenant.

Changes to the Tenancy: When requested by the tenant there will be a charge capped at £50, or reasonable costs incurred if higher. Payment on variation, assignment or novation of a tenancy. When a tenant has requested it, there will be A £50 (including vat) charge to vary, assign or replace a tenancy. The payment cannot exceed £50 (including VAT) or the reasonable costs of the person to whom the payment is to be made in respect of the variation, assignment or novation of a tenancy.

Change of Sharer: £50 per replacement tenant or any reasonable costs incurred if higher, to cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution. Payments in respect of Council Tax Tenants are required pay the Council Tax on the property they rent unless otherwise stated in the tenancy agreement.

Payments for utilities: The tenant is responsible for payment for or in connection with the provision of a utility if the tenancy agreement requires the payment to be made. NB: In the Tenant Fees Act, utility, means electricity, gas or other fuel, water or sewage.

WE ARE MEMBERS OF UKALA CLIENT MONEY PROTECTION SCHEME

WE ARE MEMBERS OF THE PROPERTY OMBUDSMAN (TPO) REDRESS SCHEME