Landlord Fees Schedule

Sole Agency Full Management

15.6 % including VAT of the total rent reserved in the Agreement for any initial or supplementary term or period of occupation, for the duration of our sole agency. Multiple agency fees are 18 % including VAT. Prior to the letting commencing, this agreement can be terminated on fourteen days’ written notice by either party. If the sole agency arrangement is terminated, our fees will revert to 18 % including VAT of the total rent reserved in the agreement. If vacant, or ongoing management duties or negotiations continue, management fees are charged on the rent or rental equivalent at the rate of 6% including VAT of the final achieved rent.

Sole Agency

Please note that we charge a minimum monthly management fee of £120 including VAT.

Let Only

9.6 % including VAT of the total rent reserved in the Agreement for any initial or supplementary term or period of occupation, for tenant finding, reference application, collection of rent and distribution to client’s bank account (if required). Multiple agency fees are 12 % including VAT. On let-only properties the commission is deducted at the outset for an initial term of six months; thereafter:

a) Monthly, where rent is collected.
b) Or quarterly where rent is paid direct to the landlord.

Tenancy Agreement

£108 – £150 including VAT for a standard Tenancy Agreement. A specialised, one-off, Tenancy Agreement will be charged on a Quantum Meruit basis. £30 – £48 including VAT for a lease endorsement or notice. £144 including VAT for a termination notice.

Tenancy Set-Up Administration Fee

Rent up to £1,500pcm – £250 including VAT total

Rent up to £3,000pcm – £300 including VAT total

Rent above £3,000pcm – £350 including VAT total

Inventory

Calculated on the time taken, between £96 – £420 including VAT for preparation and check-in and

£96 – £420 including VAT for checkout and re-making.

Extra Management Services and Professional Work

Supervision of building works, decorating, refurbishment, re-carpeting and renewal of machines etc at between 6% – 9% including VAT depending on the nature of the works.

Expenses

International telephone calls, fax letters, car mileage, copy documentation and forwarding of post abroad.

TDS Registration

£48 including VAT will be charged annually.

TDS Dispute

A minimum charge of £300 including VAT will be made to submit a claim to the TDS for arbitration based on an hourly rate of £108 including VAT per hour.

Introductory Sales Commission

The landlord agrees to pay 1.2% including VAT of the sale price achieved in the event of the tenant acquiring the property during their tenancy or subsequently.

Termination

Prior to the letting commencing, this agreement can be terminated on fourteen days’ written notice. If the sole agency arrangement is terminated and becomes multi-agency, our fees will revert to 12% including VAT of the total rent reserved in the agreement. Once a letting has commenced, either landlord or Howard Morley & Sons may terminate this contract on one month’s written notice, subject to ongoing letting commission at the rate of 12% including VAT of the rent multi-agency and 9.6% including VAT of the rent sole agency remaining payable to Howard Morley & Sons for the duration of the tenant’s occupancy.

Client’s Balances

Balances are held at Lloyds Bank plc, High Street, Guildford, Surrey, GU1 3AG in a designated client’s account. No interest is paid on balances. Any interest is retained by Howard Morley & Sons. Client’s transfers are made once a month, on or around the 9th, on a weekday.

Note

VAT is added to all charges at the standard prevailing rate. A commission is received from some contractors who undertake maintenance works.

Complaints Procedure

This Firm operates a complaints procedure – details are available on request.