Lettings Fees and Charges
Please find below details on the fees or charges applicable to Landlords. If you are a tenant looking for information on fees relating to your tenancy, please visit our Tenants page here
Harrods Estates is part of the Propertymark Client Money Protection scheme (Ref: C0014853)
Tenancy Agreement Fee: A one off admin fee of £240 (inclusive of 20% VAT) required per property.
Letting Agreement Fee: This will be charged at 11% of the total rent payable for the term of the tenancy payable in advance (20% of the total rent payable for tenancies of 3 months or less) For the preparation and engrossment of a Special Tenancy Agreement in liaison with the Landlord’s solicitors there will be a charge of £60 per hour (inclusive of 20% VAT). For negotiation and administration of a Landlord’s or Tenant’s own Tenancy Agreement there will be a charge of £60 (inclusive of 20% VAT) The above fees include one copy of the Tenancy Agreement or Renewal Tenancy Agreement for each of the landlord and Tenant where requested. For further copies there will be a charge of £24 (inclusive of 20% VAT)
Renewal Agreement Fee: This will be charged at 11% of the total rent payable for the term of the tenancy payable in advance (20% of the total rent payable for tenancies of 3 months or less) along with a renewal fee of £240 (inclusive of 20% VAT).
Management Service: ESTATES fees are 6% of the total rent payable for the term of the Tenancy, payable from and at the same frequency as rent is due to be received, or 26% of the total rent payable for Tenancies of three months or less. For the avoidance of doubt, the provision of the Management Service during the 4-week Additional Period referred to in clause 4.3 above shall be free of charge.
Redecoration/Repair: The Management Fee is inclusive of the cost of dealing with matters of redecoration, renewal, replacement or repair costing between £500 and £1000. The organisation and inspection of works in excess of £1000 will attract an additional administration and arrangement fee of 10% of the cost of the works. This charge will be deducted from any monies received by us on your behalf unless alternative arrangements for our payment are made in advance.
Non-Routine Management & Major Works: Fees in respect of non-routine management and major works are chargeable at either £78 per hour (inclusive of 20% VAT) or 10% of the final cost of the works undertaken.
Insurance Claim: The Management Fee is exclusive of the cost of pursuing insurance claims, which will attract an additional fee of 10% of the value of the claim. This charge will be deducted from any monies received by us on your behalf unless alternative arrangements are made in advance. In the event that you decide not to proceed with any insurance claim ESTATES is pursuing on your behalf, ESTATES shall be entitled to recover its costs in relation to work undertaken, at the rate of £65 per hour.
Expenses: All fees are exclusive of disbursements for couriers and extraordinary expenses.
Fair Contract Terms: We are legally required under the Unfair Terms in Consumer Contracts Regulations 1994 to ensure that our standard terms are fully understood and acceptable. Consequently if you do not understand or do not wish to accept any of our terms please tell us and we would be pleased to discuss them with you. By signing our Lettings Instruction Form it is assumed that you are accepting our terms and accept that they are reasonable.
Change of Tenant: In the event that you agree to a change of tenant during an existing tenancy, we reserve the right to make an additional charge to cover the cost of taking references, arranging for any new tenant to enter into the Tenancy Agreement, and the service of appropriate Notices.
Disbursements: All fees are exclusive of disbursements for bank transfer charges (where applicable), couriers, key cutting and search reports and extraordinary expenses.
Withdrawal of Agreed Offer: If you instruct ESTATES to proceed with a proposed tenancy by completing a proposed offer letter, but subsequently withdraw such instruction, you agree to meet the cost of all expenses incurred by ESTATES during the currency of the Instruction, at the rate of £60 per hour (inclusive of 20% VAT) plus disbursements
Inventory: The charge to you for preparing an independent Inventory, for checking in and out, and for preparing the schedule of dilapidations will vary depending upon the property involved. ESTATES will discuss the fee with you in advance. The fee will include one copy of the Inventory. Further copies will be provided upon request subject to a fee of £24 per copy (inclusive of 20% VAT)
Advertising: Our fees and charges, specified in paragraphs 5.1 and 5.3 include any expenses we may decide to incur in photographing and/or advertising the Property, unless otherwise agreed with you in advance in respect of advertising in certain specialist publications. If the Property is withdrawn from the letting market, if our Instructions are withdrawn or if the Property is let otherwise than through ESTATES, we reserve the right to seek reimbursement of expenses up to a maximum of £50.00 unless we have previously received your authority to exceed this sum.
Outstanding Accounts and Invoices: Any sums due to ESTATES under these Terms and Conditions of Business shall, if not paid on the due date, be subject to interest at the rate of 4% per annum above the base rate of National Westminster Bank plc ruling from time to time, calculated from the due date. This interest shall accrue on a daily basis and shall be payable before and after judgement.
Legal Expenses: In the event that ESTATES is obliged to instruct solicitors to recover any unpaid fees you will be liable to pay the solicitors fees and disbursements on a full indemnity basis whether or not proceedings are issued.
TDS registration fee: Where ESTATES hold the deposit as stakeholder it will be registered with the Tenancy Deposit Scheme Limited as a cost of £18 to the landlord (inclusive of 20% VAT)
Inventory Fees: The 'check-in and make' is paid for by the landlord. The tenant is required to approve and sign at the start of the Tenancy. The cost of the Inventory check-out is the responsibility of the tenant, along with the cost to remedy if there are any discrepancies between the two.
Check In Fees vary depending on the size of the property and the level of furnishing. The below prices are provided as a guide. The actual cost of your check in will be calculated at the time you start your tenancy and may be greater or less than those provided below depending on their specific quotation for your property.
Unfurnished £102 (inclusive of 20% VAT). Part Furnished £108 (inclusive of 20% VAT). Furnished £120 (inclusive of 20% VAT)
1 Bed/1 Reception:
Unfurnished £138 (inclusive of 20% VAT). Part Furnished £150 (inclusive of 20% VAT). Furnished £162 (inclusive of 20% VAT).
2 Beds/1 Reception:
Unfurnished £150 (inclusive of 20% VAT). Part Furnished £162 (inclusive of 20% VAT). Furnished £180 (inclusive of 20% VAT).
3 Beds/1 Bath/2 Receptions:
Unfurnished £198 (inclusive of 20% VAT). Part Furnished £210 (inclusive of 20% VAT) Furnished £228 (inclusive of 20% VAT).
4 Beds/2 Bath/2 Receptions:
Unfurnished £198 (inclusive of 20% VAT). Part Furnished £210 (inclusive of 20% VAT) Furnished £210 (inclusive of 20% VAT)
5 Beds/2-3 Baths/2 Receptions:
Unfurnished £226 (inclusive of 20% VAT). Part Furnished £240 (inclusive of 20% VAT). Furnished £270 (inclusive of 20% VAT).
Prices include one bathroom and one ensuite bathroom unless otherwise stated. Cellars, garages, utility rooms are not included in standard prices.
Potential Additional Inventory Fees:
Surplus fees may be required in certain circumstances, these are listed below:
Heavily furnished properties require additional inspection time and records, charged from £24 to £48 (inclusive of 20% VAT).
Periodic property inspections from £30 (inclusive of 20% VAT) per visit - depending on the agents requirements
Cancelled appointments (within 4 hours) will be charged £54 (inclusive of 20% VAT).
Sunday/Bank Holiday £42 (inclusive of 20% VAT).
Properties within the congestion charge zone will be subject to an additional £12 charge per visit (inclusive of 20% VAT).
Additional rooms to be charged at £15 per room for an Inspection Make and £9 per room for a Check-In/Out (each inclusive of 20% VAT).
VAT stands for Value Added Tax. This page was last updated on 4th April 2016.