Below you will find our latest landlord and tenant charges.
LANDLORD CHARGES
STANDARD CHARGES
| Charge | Description | Amount (Excl. VAT) |
Amount (Incl. VAT) |
| Tenancy agreement | Produce tenancy agreement to reflect agreed rental terms. | £200 | £240 |
| Tenant referencing (charged per tenant/guarantor) |
Housing Act tenancies. Non Housing Act tenancies. |
£50 £100 |
£60 £120 |
| Deposit registration | Register and protect the deposit, payable annually. (Applicable to Housing Act tenancies only). | £50 | £60 |
| Tenancy arrangements | Inventory/pre-tenancy clean/check in/check out. | Third party charge - depends on the size of your property | |
| Tenancy extension or renewal | Negotiate all renewal terms and draw up the renewal memorandum or new tenancy agreement. | £100 | £120 |
| Same day payment | Any same day payments sent to you at your request (business days only). | £20 | £24 |
| International bank accounts | Any payments to a non UK bank account. | £20 | £24 |
| Non Resident Landlord (NRL) returns | Submitting Non Resident Landlord (NRL) return forms to HMRC. Payable per Landlord, per quarter. | £100 | £120 |
| Interest | Interest on unpaid fees or monies owed by you to us. | 4% | 4.8% |
NON STANDARD CHARGES
These come into effect if you ask Eccord to carry out any of these additional services for you.
| Charge | Description | Amount (Excl. VAT) |
Amount (Incl. VAT) |
| Key cutting | Time spent to get additional key sets cut. | £120 p/hr | £144 p/hr |
| Additional property inspections | Additional property inspections. | £120 p/hr | £144 p/hr |
| Meeting contractors/third parties | Meeting contractors or third parties to assist with insurance claims, HMO visits and/or any additional property visits. | £120 p/hr | £144 p/hr |
| Works coordination fee | Arranging works or refurbishment over £1,000. We will discuss this with you and notify you in advance. | 10% of total cost | 12% of total cost |
| Deposit dispute | Preparing paperwork for a deposit dispute case if required. | £240 | £288 |
| Section 21 notice | Serve a Section 21 notice on your behalf. (Applicable to Housing Act tenancies only) | £100 | £120 |
| Abort fee | If you decide not to use our services after signing this agreement and we have instructed third parties on your behalf. | £500 | £600 |
| Sales valuation | Value the property for sales or tax purposes (or similar). | £120 p/hr | £144 p/hr |
| Extraordinary matters | Time that We incur in dealing with extraordinary matters such as chasing non-responsive third parties (e.g. managing agents) / seeking approval from freeholders (e.g. licence to sublet or alter). | £120 p/hr | £144 p/hr |
CHANGE OF OWNERSHIP / OCCUPANT CHARGES
| Charge | Description | Amount (Excl. VAT) |
Amount (Incl. VAT) |
| Ownership transfer during tenancy | Transfer of Landlord ownership during a tenancy (new Landlord set up, new tenancy agreement and re-registering of the deposit). | £180 | £216 |
| Transfer deposit to Landlord/other agent | Transfer of deposit to you or your new managing agent if our service is terminated during a tenancy. (Applicable to Housing Act tenancies only) | £60 | £72 |
| Sale of the property to the tenant/connected party | If a tenant, connected person or entity or someone we have introduced buys your property, a percentage of the purchase price will be payable. | 1% | 1.2% |
TENANT CHARGES
HOUSING ACT TENANCIES (AST) - GENERAL FEES & CHARGES
| Fee of Intent | Equivalent of one (1) week's rent which will be put towards your first rental payment and is your agreement to proceed with the agreed tenancy terms, subject to contract and references. This may be retained if you provide false or misleading information when submitting an offer that is subsequently accepted by the Landlord, or in the event you are unable to provide satisfactory ‘Right to Rent’ checks. |
| Deposit | If the annual rent is less than £50,000, your deposit will be equivalent to five (5) weeks’ rent. If the annual rent is £50,000 or more, this will be the equivalent of six (6) weeks’ rent. |
| Change of sharer | £41.67 + VAT one off charge to cover referencing and administration, or any other reasonable costs incurred. |
| Midterm change | Up to £41.67 + VAT for any reasonable costs incurred. |
| Early termination (at Landlord’s discretion) | All costs, fees and charges incurred by the Landlord for allowing early termination including the agent's existing or re-letting fees as well as the rent until such time as the tenancy is terminated upon mutual agreement. |
| Stamp Duty Land Tax (SDLT) | Payable on tenancies where the rent for the total tenancy exceeds £125,000. |
| Bank charges | There is no charge for payments to UK bank accounts. A £30 charge is payable for overseas transactions. |
| Default fees/charges | Interest may be charged on late or unpaid rental payments at 3% above the base rate of the Bank of England per annum - calculated daily where rent is unpaid for fourteen (14) days or more. |
| Replacement keys or lost/broken items | Full replacement costs are chargeable for keys, fobs, security devices or associated items which have been lost, damaged or broken. A £15 per hour charge for the time spent coordinating the replacement will also be payable. |
NON HOUSING ACT TENANCIES - GENERAL FEES & CHARGES
| Fee of Intent | Equivalent of one (1) week's rent which will be put towards your first rental payment, due at the start of the tenancy. |
| Tenancy paperwork | £200 + VAT one off charge. |
| Company reference checks | £120 + VAT one off charge per tenant reference. |
| Deposit | Equivalent to six (6) weeks’ rent, although this may be higher if you have pets or if specifically negotiated. |
| Check-in and/or Check out | £100 - £500 + VAT depending on the size of the property. Check your tenancy agreement to confirm who is responsible for paying this charge. |
| Midterm change | £200 + VAT one off charge to cover referencing and administration, or any other reasonable costs incurred. |
| Tenancy renewal / extension paperwork | £200 + VAT one off charge. |
| Early termination (at Landlord’s discretion) | All costs, fees and charges incurred by the Landlord for allowing early termination including the agent's existing or re-letting fees as well as the rent until such time as the tenancy is terminated upon mutual agreement. |
| Stamp Duty Land Tax | Payable on tenancies where the rent for the total tenancy exceeds £125,000. |
| Bank charges | There is no charge for payments to UK bank accounts. A £30 + VAT charge is payable for overseas transactions. |
| Default fees and charges | Interest may be charged on late or unpaid rental payments at 3% above the base rate of Bank of England per annum, calculated daily where rent is unpaid for fourteen (14) days or more. |
| Replacement keys or lost/broken items | Full replacement costs are chargeable for keys, fobs, security devices or associated items which have been lost, damaged or broken. A £15 per hour charge for the time spent coordinating the replacement will also be payable. |
Eccord Ltd is a member of The Property Ombudsman (TPO) with membership number D03886.
Eccord Ltd is also part fo the Propertymark Client Money Protection Scheme (CMP) with scheme reference number: C0128880.
