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

£210.00 (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

£72.00 (inc VAT) (An optional £5.00 charity donation to CentrePoint is included)

  • Negotiation of new rent
  • Drawing up renewal agreement

Change of Occupancy fee

£210.00 (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

Cost of the new Inventory and Check in

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

14.4% (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

14.4% (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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