Fees

Membership

MyLondonHome are members of The Property Ombudsman (TPO) and The Association of Residential Letting Agents (ARLA).

Client Money Protection Scheme

MyLondonHome are a member of ARLA meaning that we are a part of their Client Money Protection Scheme.  

Tenant Fees

 

Tenant fees

£250.00 (inc VAT)

  • Processing the application and associated paperwork
  • Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any relevant information to assess affordability).
  • First guarantor reference
  • Drawing up tenancy agreement

Renewal fee

£120.00 (inc VAT)

  • Negotiation of new rent
  • Drawing up renewal agreement

Change of Occupancy fee

£250.00 (inc VAT)

  • Processing the application and associated paperwork
  • Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any relevant information to assess affordability).
  • Drawing up tenancy agreement

Check Out

Studio - £180.00 (inc VAT)

1 bed - £180.00 (inc VAT)
2 bed - £222.00 (inc VAT)
3 bed - £252.00 (inc VAT)
4 bed £276.00 (inc VAT)
5 bed £288.00 (inc VAT)

  • Inventory clerk to meet the tenant at the property for at least 1 hour
  • To compile a detailed report comparing it against the inventory.
  • Make any amendments to the report should the tenant address them within 10 days of receiving the report
  • Liaise between both tenant and landlord to negotiate dilapidations.

Early termination fee

Should you wish to terminate your Tenancy before the end of the term and the Landlord agrees that you can terminate early, you will be responsible for the repayment of the pro-rata commission paid in advance by the Landlord for the unexpired portion of the Tenancy, unless you are exercising a break clause which is contained in your Tenancy Agreement. You will also be liable for the Cost of the new Inventory and Check out, cleaning of property and any other associated costs that may arise. A detailed quote of fees based on your tenancy could be supplied at your request.

Breach of tenancy agreement fee

£25.00 (inc VAT)

  • Draw up letter relating to the breach of the tenancy agreement
  • Post letter to the tenant

Returned payment fee

£25.00 (inc VAT)

  • Covers any bank charges MyLondonHome may incur

Professional cleaning fee

Studio - £282.00 (inc VAT)
1 bed flat - £312.00 (inc VAT)
2 bed flat - £336.00 (inc VAT)
2 bed flat with en suite - £360.00 (inc VAT)
3 bed flat - £390.00 (inc VAT)
3 bed flat with en suite -£420.00 (inc VAT)
1 bed house - £366.00 (inc VAT)
2 bed house - £396.00 (inc VAT)
2 bed house with en suite £432.00 (inc VAT)
3 bed house £456.00 (inc VAT)
3 bed house with en suite £522.00 (inc VAT)

  • Only to be charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy

Landlord Fees

Management Fee

16.8% (Inc VAT)

  • Provide a market valuation
  • Agreeing a market price
  • Providing sales and Marketing
  • Accompanying potential tenants to the property on viewings
  • Collect and remit the monthly rent
  • Provide the landlord with a monthly invoice
  • Pursue non-payment of rent and provide advice on rent arrears actions
  • Deduct commission and other works
  • Advise all relevant utility providers of changes
  • Undertake one inspection visit per annum and notify landlord of the outcome
  • Arrange routine repairs and instruct approved contractors
  • Hold keys throughout the tenancy term
  • Serve notice at the end of the tenancy should both parties not wish to renew
  • Make any HMRC deductions and provide the landlord with the NRL6 (if relevant)

Deposit fee

£42.00 (inc VAT)

  • Register landlord and tenancy details and protect the security deposit with a Government-authorised Scheme
  • Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy
  • This is to be paid at the start of each renewal throughout the duration of the tenancy

Inventory

Studio - £150.00 (inc VAT)
1 bed - £150.00 (inc VAT)
2 bed - £198.00 (inc VAT)
3 bed - £234.00 (inc VAT)
4 bed £258.00 (inc VAT)
5 bed £276.00 (inc VAT)

  • To attend the property prior to the check in and take photos and detailed the condition of the property
  • To compile a very detailed report which is provided to the tenant at check in

Check In

Studio - £96.00 (inc VAT)
1 bed - £96.00 (inc VAT)
2 bed - £108.00 (inc VAT)
3 bed - £120.00 (inc VAT)
4 bed £132.00 (inc VAT)
5 bed £144.00 (inc VAT)

  • Inventory clerk to meet the tenant at the property for at least 1 hour
  • Walk through the property with the tenant discussing the report and the property
  • Inventory Clerk to point out appliances and show them how to use each one
  • Make any amendments to the report should the tenant address them within 10 days of receiving the report

Renewal fee

16.8% (inc VAT)

  • Review rent in accordance with current prevailing market conditions and advise the landlord of the current valuation
  • Negotiate the new rent with tenant
  • Direct the tenant to make payment change as appropriate v
  • Draw up the tenancy agreement and provide to all parties for signature

Additional property visits

£72.00 (inc VAT)

  • Arrange visit with the tenant
  • Inventory Clerk to attend to the property and compile a report on the condition of the property v
  • Provide report to both landlord and tenant
  • Advise both landlord and tenant if there are any improvements required

Termination of Management

24% (inc VAT) for one duration of the remaining term

  • Action written notice received via the landlord 3 months prior to terminating

Energy Performance Certificate

£66.00 (inc VAT)

  • Completion of an Energy Performance Assessment and issue of an Energy Performance Certificate
  • The payment is made to the Energy Performance Assessor

Gas Safety Certificate

£120 (inc VAT)

  • Carrying out a Gas Safety Inspection and issuing a Gas Safety Certificate
  • The payment is made to the gas safety engineer

 

 

 

 

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