Landlords Fees

Full Management Package

For landlords who want the stress taken out of letting their property, Leapfrog offer a comprehensive ‘Full Management’ package.   The fees for this service are as follows:-

Setup fee:  £300 + VAT

This set up fee includes the following:-

● Agreeing the market rent and finding a tenant in accordance with the landlord guidelines

● Provide guidance on compliance with statutory provisions and letting consents

● Advise on refurbishment

● Carrying out marketing of the property & advertising on relevant portals

● Accompanied viewings (as appropriate)

● Erect a ‘pad to let’ board outside property in accordance with Town and Country Planning Act 1990

● Advise on non-resident tax status and HMRC (if relevant)

● Inventory Fee (landlord’s share) £75 + VAT upwards dependant on size

Fully Managed Fee: 11% + VAT

This is a monthly commission calculated as a percentage of the monthly rent and includes the following:-

● Collection and remit the monthly rent received

● Deducting commission and other works

● Supplying monthly statements

● Pursuing non-payment of rent and providing advice on rent arrears actions

● Advise all relevant utility providers of tenancy changes

● Undertake regular inspection visits per annum and notifying the landlord of the outcome

● Arrange routine repairs and instruct approved contractors (with written quotes)

● Holding keys throughout the tenancy term

Additional non-optional fees and charges (irrespective of level of service)

Deposit Registration Fee £15 + VAT 

All tenants’ deposits must be registered by law with a Governmentauthorised Scheme. This fee is for registering the landlord and tenant details and protecting the security deposit; then providing the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy. The scheme used by Leapfrog Lettings is The Deposit Protection Service.

Notices applied £20 + VAT
Service of Notices inc Section 21/S 8 notice

Inventory Fee from £75 + VAT upwards

It is important to have a thorough inventory enabling both parties (landlord and tenant) to be treated fairly. The inventory documentation serves a number of vital functions – including providing a catalogue of the let property, an unbiased record of its condition and any items included in the tenancy. It forms part of the legally binding contract that is set out in the tenancy agreement between the tenant and the landlord. The cost of the inventory also varies dependent on the number of bedrooms in the property and whether or not the property is furnished or unfurnished.

Renewal Fee (Landlord’s Share) 25% + VAT of rent

It is important to negotiate a contract that may determine some security both for a Landlord and a Tenant. This includes amending and updating terms and arranging a further tenancy agreement, grounds notices and agreements.

Additional Property Visits £15 + VAT

If a visit (over and above the 3/6 monthly visits included in the monthly fee) is required – for example at the specific request of the Landlord, or to resolve a neighbour dispute, a fee is charged.

Certificates required – see below

Gas Safety Certificate £70 + VAT

Electrical Installation Condition Report (EICR) £150 to £200

Commissioning of a Legionnaires Risk Assessment £70 + VAT

Smoke Alarm and Carbon Monoxide Alarm Installation

We can supply and install battery smoke alarms at a cost of £25 + VAT and mains at £55 + VAT per alarm and £40 + VAT per carbon monoxide detector, with replacement batteries at £3.33 + VAT per battery.  These alarms will be fitted as standard, if not already one in place.

Court Attendance £75/hour

In the unfortunate event where Leapfrog Lettings might need to represent you in court – for example if a tenant requires eviction, these fees apply.

Arrangement fee for Works over £600 – 6% of net cost

Arranging access and assessing costs with contractors ensuring work has been carried out in accordance with the specification of works, retaining and warranties or guarantees as a result of works.

Leapfrog Lettings reserve the right to make a commission charge to any contractor instructed on behalf of the landlord of up to 12% (10% + VAT) of the net cost of the work.

Withdrawal Fees

Scale 1 : £100 + VAT   When a Landlord dis‐instructs us before a tenant’s application has been processed, or when a property is removed by the Landlord or let by another agent.

Scale 2: £200 + VAT Plus reimbursement of the tenant’s holding fees – when a Landlord dis‐instructs us after a tenant’s application has been processed.

Scale 3: £400 + VAT  When a Landlord withdraws from a fully managed service and wishes to retain the tenant.

Right to Rent checks £20 + VAT (per applicant or guarantor)

From 1st February 2016 all private Landlords in England will have to make Right to Rent checks. This means checking that the tenants have a right to be in the UK. Landlords need to check that a tenant or lodger can legally rent your residential property and as an Agency, we carry out these checks on behalf of you. Landlords who don’t make the checks could be fined up to £3,000 if they rent out a property to someone who’s in the UK illegally. Right to rent checks have been introduced as part of the government’s ongoing reforms to the immigration system.

Inland Revenue administration and reporting £40 + VAT

Depending on your circumstances, income from property in the UK must be declared to the Inland Revenue. Landlords can claim personal allowances against income from property. Expenditure incurred in connection with letting including interest paid on a mortgage can be offset against your tax liability and a wear and tear allowance in the case of furnished property may be granted. We will provide an annual statement itemising rental income received and all expenditure to enable your tax computation be completed. (We would advise you to take independent advice from a professional body with regard to your tax affairs). The cost for this statement to the HMRC will be £40.00 + VAT.

Overseas Landlords £75 + VAT

Overseas landlords are classed as Non-Resident Landlords and all income from property is subject to tax. To enable rental income to be paid gross, you can apply for an exemption certificate from the Inland Revenue. We can supply you with the necessary forms and guidance notes and would recommend that these are completed as a priority. Our fee for sending this information off annually is £75.00 + VAT.

Tenant Finder Service

For landlords who wish to manage their rental property themselves, but who wish for help in securing a tenant and the stress free taken out of setting up their rental property, Leapfrog offer a comprehensive ‘Tenant Finder’ package with fees as follows:-

 

Finders fee at 75% of rent or £400 + VAT

Agreeing the market rent and finding a tenant in accordance with the landlord guidelines

● Provide guidance on compliance with statutory provisions and letting consents

● Advise on refurbishment

● Carrying out marketing the property & advertising on relevant portals

● Accompanied viewings (as appropriate)

● Erect a To Let board outside property in accordance with Town and Country Planning Act 1990

● Inventory Fee if required (landlords share) £75 upward depending on size

● Advise all relevant utility providers of tenancy changes

● Holding keys throughout the initial marketing term

● Advise HMRC on annual statement of income received £20 + VAT on setup

Additional optional fees and charges (irrespective of level of service)

 Deposit Registration Fee £15 + VAT
All tenants’ deposits must be registered by law with a Governmentauthorised Scheme. This fee is for registering the landlord and tenant details and protecting the security deposit; then providing the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy. The scheme used by Leapfrog Lettings is The Deposit Protection Service. If a landlord wishes for us to register the bond and transfer over to him, this fee would be charged.

Inventory Fee from £75 upwards + VAT

It is important to have a thorough inventory enabling both parties (landlord and tenant) to be treated fairly. The inventory documentation serves a number of vital functions – including providing a catalogue of the let property, an unbiased record of its condition and any items included in the tenancy. It forms part of the legally binding contract that is set out in the tenancy agreement between the tenant and the landlord. The cost of the inventory also varies dependent on the number of bedrooms in the property and whether or not the property is furnished or unfurnished.

 

Renewal Fee (Landlord’s Share) £75 + VAT

It is important to negotiate a contract that may determine some security both for a Landlord and a Tenant. If the Landlord requires a new tenancy agreement once the fixed term has elapsed then this includes amending and updating terms and arranging a further tenancy agreement, grounds notices and agreements.

 

Gas Safety Certificate £70 + VAT

Electrical Installation Condition Report (EICR)  £150 – £200 + VAT

Commissioning of a Legionnaires Risk Assessment £70 + VAT

Service of Notices inc Section 21/S 8 notice £20 + VAT

 

Withdrawal Fees

Withdrawal Fee £75 + VAT

When a Landlord disinstructs before a tenant’s application has been processed.

Withdrawal Fee £200 + VAT + holding fee

When a Landlord disinstructs once an application has been received, plus refund of Tenants one week’s HOLDING FEE already paid by the tenant upon reservation.

 

IF YOU HAVE ANY QUESTIONS ON OUR FEES – PLEASE ASK A MEMBER OF STAFF.

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