After we have found you the perfect rental property in London, the next step is to begin drawing up the tenancy agreement and organising a move-in day. We negotiate with the landlord, ensuring a fair agreement for both parties. The fees involved may vary from property to property, so we always advise you to always speak to your Property Consultant or Property Manager for a complete run-through of costs.

MyLondonHome's Terms and Fee's

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 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).
  • 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 fee

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 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
  • Making any amendments on the report should the tenant address them after 10 days of receiving the report

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 receive

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

Commission 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 deduction and provide the tenant with the NRL8 (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 Depsoti Certificate and Prescribed Information within 30 days of 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 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 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
  • Making any amendments on the report should the tenant address them after 10 days of receiving the report

Renewal fee

14.4% (inc VAT)

  • Review rent in accordance with current prevailing market condition and advise the landlord
  • Negotiate with tenant
  • Direct tenant to make payment change as appropriate v
  • Update the tenancy agreement and provide to all parties

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 Certificate which is paid to the certified engineer
  • Gas Safety £120.00 (inc VAT)
  • Completion of a Gas Safety Certificate which is paid to the certified engineer

 

 

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