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: £480.00 + 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) upwards of £120.00 dependant on size
Fully Managed Fee: 13.2% inc 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)
Right to Rent checks £24.00 inc 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.
Referencing check – £30.00 inc VAT per check
We will charge the landlord for comprehensive referencing of all tenants and guarantors using one of our preferred referencing companies. These will be available to landlords upon satisfactory completion of procedures however, subject to the tenant’s authority under GDPR.
AML, Financial Sanctions /PEP checks – £12.00 (inc VAT) per check (landlord and tenants require these checks)
Notices applied £48.00 inc VAT
Service of Notices
Inventory Fee from £120.00 inc 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.
Deposit Registration Fee £24.00 inc VAT
All tenants’ deposits must be registered by law with a Government–authorised 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.
Additional Property Visits £24.00 inc 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.
Rent Review £48.00 inc VAT
It is important to negotiate a fair rent in the current market, which can now only be done every twelve months. If a landlord wishes to increase the rent, we can serve a Section 13 notice for a cost of £48.00
Certificates required – see below
Gas Safety Certificate – £12.00 inc VAT plus Cost upwards of £85.00
Electrical Installation Condition Report (EICR) £12.00 inc VAT plus Cost upwards of £225.00 +VAT
Commissioning of a Legionnaires Risk Assessment £12.00 inc VAT plus Cost £85.00 + VAT
Smoke Alarm and Carbon Monoxide Alarm Installation
We can supply and install battery smoke alarms at a cost of £35.00 + VAT per alarm and mains to be quoted per alarm. There is a charge of £40.00 + VAT per carbon monoxide detector, with replacement batteries at £5.00 + VAT per battery. These alarms will be fitted as standard, if not already one in place. We will charge a £12.00 inc VAT fee per alarm to be fitted if ourselves are doing so. Our contractors are also instructed and charge their own rates accordingly.
Court Attendance £120.00/hour inc VAT
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 £600.00 – 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 : £120.00 inc 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: Abortive Let £360 inc VAT. When a landlord cancels PLUS referencing fees of 30.00 per check.
Scale 3: £420.00 inc VAT When a Landlord withdraws from our fully managed service and either; wishes to retain the tenant, give the tenant notice to vacate or sell the property.
Inland Revenue administration and reporting £48.00 inc 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).
Overseas Landlords £90.00 inc 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.
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 100% of rent or £680.00 inc VAT min fee
● 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) £100.00 upwards 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 £24.00 inc VAT on setup
Additional optional fees and charges (irrespective of level of service)
Inventory Fee from £120 inc 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.
Deposit Registration Fee £24.00 inc VAT
All tenants’ deposits must be registered by law with a Government–authorised 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.
Gas Safety Certificate £12.00 + Cost upward of £85 + VAT
Electrical Installation Condition Report (EICR) £12.00 plus cost upward of £225.00 + VAT
Commissioning of a Legionnaires Risk Assessment £12.00 plus cost upward of £85.00 + VAT
Service of Notices £48.00 inc VAT
Withdrawal Fees
Withdrawal Fee £120.00 inc VAT
When a Landlord cancels before a tenant’s application has been processed.
Withdrawal Fee £360.00 inc VAT
When a Landlord cancels after an application has been processed, plus referencing costs.
IF YOU HAVE ANY QUESTIONS ON OUR FEES – PLEASE ASK A MEMBER OF STAFF.