Simon Clarke’s Commission Fees
Many landlords ask about the % rate charged but often ignore the hidden cost of letting their property. It can be very misleading to only compare the % quoted by the agent, without enquiring about other charges such as contract fees, Administration fees, Deposit protection fees as well as tie in periods etc.
Every agency works differently; for example some may offer you a very low percentage, but impose high administration charges. Landlords should consider expected rental income and all costs / fees before making a decision. Before Simon Clarke Letting Agents can engage in the lettings / and or management of your property you shall be required to sign our terms of business, provide us with proof of ownership of the premises and sufficient photo i.d.
Scale of Fees for Sole Agency Lettings (initial term of 6 months or longer)
Letting service 9.6% inc VAT (8% + VAT)
2nd year renewal 7.2% inc VAT (6% + VAT)
3rd year and thereafter renewal 6% inc VAT (5% + VAT)
Scale of Fees for Multi Agency Lettings (initial term of 6 months or longer)
Letting service 12% inc VAT (10% + VAT)
2nd year renewal 9% inc VAT (7.5% + VAT)
3rd year and thereafter renewal 7.2% inc VAT (6% + VAT)
Rent collection Service (in addition to the letting fee)
3% inc VAT (2.5% + VAT) taken on a monthly basis
UK based Landlord Management Service (in addition to the letting fee & inclusive of rent collection )
6% inc VAT (5% + VAT) taken on a monthly basis
Non – resident Landlord Management Service (in addition to the letting fee & inclusive of rent collection)
7.2% inc VAT (6% + VAT) taken on a monthly basis
Examples of fees:
On a 12 month sole agency let only service with a monthly rental of £1,000 per month our total commission fees of 9.6% (inc VAT) would be £1,152.00 (inc VAT).
On a 12 month sole agency managed let for a UK based landlord with a monthly rental of £1,000 per month our total lettings & management fees of 15.6% (inc VAT) would be £1,872.00 (inc VAT).
Additional optional fees and charges (irrespective of level of service):
Deposit protection (TDS) £48.00 Inc VAT
Gas Safety certificate £75.00 inc VAT
EPC Certificate £90.00 inc VAT
PAT test £90.00 inc VAT
Duplicate Rental Statement £3.60 inc VAT (per statement)
Annual Tax Return Statement £43.20 inc VAT
Inventory £POA Inventory Check-out £PAO
Simon Clarke Letting Agents is an ARLA (Association of Residential Letting Agents) Licensed Member. Simon Clarke Letting Agents have Client Money Protection (CMP) provided by ARLA & are members of an Independent Redress Scheme provided by TPOs (The Property Ombudsman).