Fees
Tenant Fees
- Holding Deposit (per tenancy) - One week’s rent. This is to reserve a property. The holding deposit will be withheld if any relevant person (including any guarantor(s) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant false or misleading information, or fails to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
- Security Deposit (per tenancy. Rent under £50,000 per year) - Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
- Security Deposit (per tenancy. Rent of £50,000 or over per year) - Six weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
- Unpaid Rent - Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please note this will not be levied until the rent is more than 14 days in arrears.
Other Fees
- Lost Key(s) or other Security Device(s) - Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred, there will be a charge of £15 per hour (inc. VAT) for the time taken to replace lost key(s) or other security device(s).
- Variation of contract (if requested by the tenant) - £75 (inc. VAT) per agreed variation. To cover the costs associated with taking the landlord’s instructions as well as the preparation and execution of new legal documents.
- Change of sharer - £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking the landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration, as well as the preparation and execution of new legal documents.
- Early Termination (if requested by the tenant) - Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy. If the tenant leaves the property early, the agency fees will be paid through the tenant deposit.
Fees for non-Assured Shorthold Tenancies / non-Licences
Tenant fee
£250 per person
This is fixed-cost fee that can cover a variety of works depending on the individual circumstances of each tenancy, including but not limited to conducting viewings, negotiating the tenancy, verifying references, undertaking Right to Rent checks (if applicable) and drawing up contracts. It is charged on a per individual basis – not per tenancy. The charge will not exceed £250 inc VAT per individual and will only be applied to the first four individuals entering into the tenancy where there are more than four individuals taking occupation of the property. The charge will not exceed this sum unless you request or cause one of the specific additional services or fees set out elsewhere in this document.
Landlords Fees
Lettings Only
Let Only service includes marketing your property, carrying out accompanied viewings, arranging for the inventory to be carried out, carrying out the relevant checks on the potential tent/s including referencing and finalising the tenancy agreement. This does not include rent collection which is included under full Management.
Letting Only
9% + VAT
Renewals on 1st 2 years'
Renewals on 1st 2 years'
7% + VAT
Continuation period after renewals
6% + VAT
Rent Collection & Full Management Service:
(fees apply per property)
Full Management includes all the above and although not limited includes: -Issuing a monthly statement of account, collection of rents, paying bills on your behalf, collection and holding deposit, referencing, drawing up agreements, final inspections and repayment of deposits (with your permission), regular inspections holding keys, notifying utility companies of changes, tenancy changes, holding keys.
1-2 properties
6% + VAT
3-4 properties
5% + VAT
5 or more properties
4% + VAT
Renewals on 1st 2 years / Continuation period after renewals
4% + VAT
Transfer of the management of a property
If you transfer the management of a property that is already leased through yourself or another agent, we charge a lease activation fee of £ 300 + VAT and 6% + VAT (7.2% VAT included) of the 'monthly rent as a management fee.
Short lets (inc obligatory management service)
25% + VAT
Renewals on 1st 2 years'
25% + VAT
Additional Charges
In addition to the core service fees, the following additional fees may apply depending on the level of service you opt for. Some charges, as outlined, apply for all tenancies. All the below costs are valid for all ASTs, non-housing tenancies and company tenancies.
Tenancy Agreement
£ 280 + VAT per tenancy
Tenancy Agreement renewal
£ 210 + VAT per tenancy
Tenant Referencing
£ 45 + VAT per applicant
Right to rent checks
£ 30 per person
Guarantor Referencing
£45 + VAT per guarantor
Deposit Registration fee
£48 + VAT per tenancy
Inventory and Check-in
starting from £120 + VAT per tenancy (unfurnished studio/1bed property)
Inventory and Check-out
starting from £120 + VAT per tenancy (unfurnished studio/1bed property)
Cleaning of property
Third party variable cost. Quote required, average £200 + VAT
Additional Property Inspection
£ 80 + VAT
Key Cutting service
£12 + VAT plus cost of the invoice value
HM Land Registry copy of Head Lease or title register
£5 + VAT
Tenants’ utilities and council tax set up
£50 +VAT
Change of additional occupant (at same time)
£50 + VAT per additional occupant
Change of occupant fee
£300 + VAT
Anti-Money Laundering and Identification Checking Fee
£ 30 +VAT
Attending property for Landlord needs: provide access to suppliers, collect Items, etc
£ 60+VAT
Boiler Service
£ 120 + VAT
Gas Safety Certificate (GSC)
£120 + VAT
Energy Performance Certificate
£ 100+VAT per property
Portable Appliance Testing (PAT Test)
£120 + VAT per tenancy
Electrical Installation Condition Report (EICR)
£180 + VAT per tenancy
Legionella Risk Assessment
£150 + VAT per tenancy
Installing Smoke and CO2 Alarms
Third party variable cost. Quote required.
Preparation and submission of Mandatory Selective Licence Applications
£ 230 + VAT
Preparation and submission of HMO Licence Applications
£ 350 + VAT
Board For sale & To Let
£ 50 + VAT
Photography, Floor Plan & Virtual Tour
Starting from £ 150 + VAT, Depending on the size of the property
Works over £1000
(10% + VAT) of the invoice total
Sale of Property (including sales progression)
2 % + VAT of the agreed sale price
Overseas Fees
The fees for the buyer and the seller depend on the customs and habits of each country. For further information please do not hesitate to contact us.
In the event of a party introduced by us (or any person or body corporate associated with that party) subsequently entering into an agreement with the owner/landlord to purchase the premises, whether before or after entering into a Tenancy Agreement, a commission shall be payable to OKrealestate by the owner/landlord
