Guide to Landlord Fees
Our fees remain as competitive as possible without compromising our high standards of service. As a general guide, our standard fees are listed below. We would urge Landlords to contact our lettings department to discuss in more detail the various fee and service options available.
Let only - Marketing your property for rent, sourcing suitable tenants, conducting extensive referencing, preparing all paperwork and progressing a tenancy through to commencement – A fee equivalent to 1.2 month’s rent inc vat will become payable upon the tenancy being executed. Further discounts available dependent on specific requirements.
Fully Managed - In addition to the let only service and fees above, we can provide a complete management service from commencement of a tenancy to termination including regular internal inspections of the rental property Our fee rates vary depending a landlords specific requirements and are payable from month 2. As a guide, our standard fees are 12% of monthly rent inc vat. Please enquire further for more specific information.
Let only or managed Withdrawal fee - Where tenants are sourced and terms agreed, should a landlord then subsequently withdraw from an agreed transaction a charge of £360 inc vat will become payable for work undertaken by Copes and reimbursement of tenant administration fees.
Renewal fee – Let only - If a landlord and tenant wish to renew an existing tenancy we will advise on potential rents, re-negotiate terms, draw up new paperwork and finalise the contracts. Our fee is £300.00 inc vat.
Renewal fee – Managed - If a landlord and tenant wish to renew an existing tenancy we will advise on potential rents, re-negotiate terms, draw up new paperwork and finalise the contracts. Our fee is included within our management service fee
Guide to Tenant Fees
When applying for a tenancy a prospective tenant will be required to pay a fee of £100.00 inc vat for us to process an application for a tenancy including referencing. This fee is payable for each tenant, a single fee will be required for company lets. At any time during the application process should a tenant decide not to proceed or fail referencing, then application fees are not refundable. If a landlord withdraws the fee will be refunded in full.
Where a guarantor is required, additional referencing will be undertaken. A fee of £60.00 inc vat per guarantor will be required following receipt of the tenant's references and once the guarantor/s completes the relevant application form. In the event of the tenancy not being finalised for any reason or the replies to referencing proving unsatisfactory, such charges are not refundable.
A fee of £100.00 inc vat is payable as a contribution towards the cost of drawing up the tenancy agreement. This is payable prior to commencement of the tenancy.
The tenants are required to pay a deposit prior to move in. To be held in accordance with the terms of the tenancy. The deposit will be equivalent to 1.5 months’ rent
Prior to move in and commencement of a tenancy, a minimum of 1 months’ rent in advance will be required from the tenants.
During a Tenancy
If a landlord and their existing tenants both agree to renew a tenancy then the tenants will pay a contribution of £75.00 inc vat towards the costs of re-negotiating revised terms, preparing all relevant paperwork and finalising the contracts. (This is a one off charge per tenancy and not per tenant).
The following charges will only apply for the reasons listed below:
- Where the tenants have mutually agreed a suitable date and time for a routine internal inspection of the property to be undertaken (managed tenancies only) but the tenant fails to provide access on the said day as previously agreed, then £25.00 inc VAT will be charged for an aborted visit.
- If a suitable date and time has been agreed for a contractor to attend to undertake general maintenance or repairs (managed tenancies only) but is unable to gain access as arranged, then a contractor may charge for their time.
For Your Protection
We are members of NFOPP (National Federation of Property Professionals) which is the holding body overseeing ARLA (Association of Residential Letting Agents).
We are part of the NFOP Client Money Protection Scheme (Ref: C0003950)
We belong to the TPO (The Property Ombudsman) redress scheme
We are members of the TDS (Tenancy Deposit Scheme) where all client deposits are registered (Membership No G01081)