Landlord Fees In Holland Park, Central London

SOLE AGENCY/MULTIPLE AGENCY	Sole Agency By appointing us, you agree that we shall have sole agency to market the Premises for a period of six weeks. The sole agency can be terminated at the end of the fixed period by giving us two weeks written notice. If you do not terminate the sole agency it will continue until we receive your written instructions. OR Multiple Agency By appointing us, you agree that we shall act on a multiple agency basis to market the Premises for a period of six weeks. The multiple agency can be terminated at the end of the fixed period by giving us two weeks written notice. If you do not terminate the multiple agency it will continue until we receive your written instructions.
COMMISSION	You are responsible for paying our Commission at the rate of (10%) plus VAT when any person, company or other organisation enters into a binding contract for the occupation of the Premises where they do so as a result of: a a viewing conducted by us; b sight of any marketing or advertising material produced by us or by our instructions; c by way of an introduction from an existing occupier for which we have previously charged a commission; or d through the work of yourself or any other agent where this occurs during our period of sole agency; e through the work of yourself where this occurs during our period of multiple agency. This Commission remains due and payable in relation to any extension, renewal or continuation of the occupancy contract whether or not we are the effective cause of the said extension, renewal or continuation and for the period of time any such party or their assignees, subtenants or successors in title continue to reside in the Premises. Our Commission is payable whether or not we are the effective cause of the transaction. You should note that this may involve you paying Commission to two agents if you instruct another agent to find an occupier for your Premises during the period that we are instructed on a sole agency basis.
VAT	Value Added Tax will be chargeable on all Commission at the prevailing rate (currently 20%). This rate may change from time to time and the total cost will change accordingly. All fees contained within this Agreement are shown exclusive of VAT.
BASE RENEWAL COMMISSION	You will have to pay us a Commission at the Let Only Commission Percentage of the gross Rent, premium or other money payable throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf (the “Renewal Commission”).
RENT COLLECTION SERVICE	If we are instructed to collect the rent for the Premises then further to the Let Only Commission you will VAT of the gross Rent, premium or other money payable throughout the initial fixed Term and any have to pay us an additional commission at the Rent Collection Commission Percentage being (2.5%) plus continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf. If our instructions to collect the rent or other monies are terminated our Commission remains payable at the Let Only Commission percentage throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf.
MANAGEMENT SERVICE	If we are instructed to manage the Premises then further to our Commission for the Let Only Service you will have to pay us an additional Commission at the Full Management Commission Percentage for management being (3.5%) plus VAT plus the Commission due for the Letting and Rent Collection Service being a total of 16% of the gross Rent premium or other money payable throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf. If our instructions to manage are terminated our Commission remains payable at the Let Only Commission Percentage throughout the initial fixed Term and any continuation, extension or renewal of it whether fixed Term or periodic whether or not we are instructed to act on your behalf.
COMMISSION DUE	Our Commission payment will become due at the agreed start date of the Occupation Agreement and we will invoice you accordingly. In the case of Let Only, our Commission is payable six monthly in advance. If we either collect the rent or manage the property, we will take payment from the monies paid by the Occupier of the Premises until our Commission and any other fees and disbursements have been paid. Our other fees and disbursements will be taken in full from payments made by the Occupier. Should the Occupier fail to make any agreed payments our Commission, Fees and Disbursements will still be payable by you and we will invoice you accordingly.
TENANCY SET UP CHARGE	We will make a charge of £330.00 inc. VAT, which includes the following: preparation of the tenancy agreement, tenant referencing & credit checks, right to rent checks, guarantor reference checks including ID, preparation of guarantor agreements, notification to utility providers & council tax, security deposit handling and/or protection; arranging of: licence to sublet, gas safety record, electrical reports, legionella, smoke/carbon checks, inventory, cleaning, key cutting. Upon any extension of the tenancy agreement, an additional fee of £120.00 including VAT for the preparation of the agreement will be payable.
REFUND OF COMMISSION	We make a refund of our Commission on a pro-rata basis if the Tenancy terminates before the originally agreed date whether this occurs due to the use by you or by the Tenant of any contractual break clause in the Tenancy Agreement, an agreed surrender, repudiation, rescission, frustration or forfeiture of the lease, through any Court proceedings. No such refund will take place if your interest in the Premises is assigned to another party.
SALES COMMISSION	If during or within one year of the expiry of the tenancy the premises are sold by the Landlord to the Tenant, commission on the sale price of 1.5% plus VAT becomes due to us. In the event that the Landlord sells a property which is let and the tenancy is to continue then in the Landlord’s interests he must ensure that the purchaser enters into an agreement with this company in respect of the remainder of the Tenancy (and any extensions) after completion of the sale. If this is not done the original Landlord will be liable for our fees.
ADDITIONAL SERVICES	The following Services are in addition to the above and form the subject of an additional charge. i. Preparation of an Inventory and Schedule of Condition on behalf of the Landlord by an inventory clerk will depend on the size and style of the Premises. Estimates will be given upon request. The cost of the preparation of the Inventory is borne by the Landlord. ii. With the exception of assessment and rectification of any damage to the property following the check-out of a tenant, our management service will cease on the expiration of a tenancy. We can however offer a Caretaker Management Service’ ie: while the property is not tenanted. We charge a monthly fee of £175.00 excluding VAT payable in advance until the property is re-let. This will cover two visits to the property per month to check it is secure and to also check there is no damage or problems etc. Subsequent visits are charged at £40 + VAT per visit. We will pay for the outgoings out of the float we hold. If we do not hold a float we will not be able to pay for any expenditure. Typical expenditure may include payment of ground rent, council tax, service charge, utilities, insurances along with any necessary items of repair and maintenance, provided we are in funds. iii. A supervisory fee of 7.5% of the total cost of any work in excess of £1,000.00 but subject to a minimum fee of £50.00 is charged for supervising the work. iv. Supervise the partial or total refurbishment of the Premises for a fee of 10% of the total cost of the work but subject to a minimum fee of £500.00 excluding VAT. Preparation of documentation for County Court proceedings or TDS adjudication will be £100.00 excluding VAT plus our reasonable costs and expenses and attendance at court or any tribunal on your behalf will be charged at £350.00 excluding VAT per hour plus our reasonable costs and expenses.