Spectra Property Services

Explanation of our landlord fees

  Download Landlord Fee
  • We are members of The Property Ombudsman redress scheme
  • We are covered by the ARLA Client Money Protection scheme
Commision,Fee and Charges inc VAT Explanation
Tenant Find 75% of rent
  • Collect and remit initial month's rent received.
  • Agree collection of ant shortfall and payment method.
  • Provide tanant with method of payment.
  • Deduct any pre-tenancy invoice.
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
Rent Collection 5% of rent
  • Collect and remit monthly rent received.
  • Deduct commision and other works.
  • Pursue non-payment of rent and provide advice on arrears actions.
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
Fully Managed 10% of rent
  • Collect and remit monthly rent received.
  • Pursue non-payment of rent and provide advice on arrears actions.
  • Deduct commision and other works.
  • Advisse all utility providers of changes.
  • Undertake two inspection visits per annum and notify landlord of the outcome.
  • Arrange routine repairs and instruct approved contractors(providing two quotes).
  • Hold keys throughout the tenancy term.
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant).

Additional non-optional fees and charges (irrespective of level of service)

Fee inc VAT Explanation
SETUP FEE (LANDLORD'S SHARE) £150
  • Agree the market rent and find a tenant in accordance with the landlord guidelines.
  • Advise on refurbishment.
  • Provide guidance on compliance with statutory provisions and letting consents.
  • Carry out accompanied viewings (as appropriate).
  • Market the property and advertise on relevant portals.
  • Erect 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) xxxxxx
  • Dependent on the number of bedrooms and/or size of the property and outbuildings.
DEPOSIT REGISTRATION FEE £30
  • Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme.
  • Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy.
ADDITIONAL PROPERTY VISITS £25
  • To attend for specific requests such as neighbour disputes; more visits are required to monitor the tenancy; or any maintenance-linked visit.
SUBMISSION OF NON-RESIDENT LANDLORDS RECEIPTS TO HMRC £NIL quarterly
  • To remit and balance the financial return to HMRC quarterly and respond to any specific query relating to the return from the landlord or HMRC.
ARRANGEMENT FEE FOR WORKS OVER £1000 50% of net cost
  • Arranging access and assessing costs with contractor.
  • Ensuring work has been carried out in accordance with the specification of works.
  • Retaining any warranty or guarantee as a result of any works
ARRANGEMENT FEE FOR REFURBISHMENTS OVER £1000 5% of net cost
  • Arranging access and assessing costs with contractor.
  • Ensuring work has been carried out in accordance with the specification of works.
  • Retaining any warranty or guarantee as a result of any works
OBTAINING MORE THAN TWO CONTRACTOR QUOTES £Nil per quote
RENT REVIEW FEE £NIL
  • Review rent in accordance with current prevailing market condition and advise the landlord.
  • Negotiate with tenant.
  • Direct tenant to make payment change as appropriate
  • Update the tenancy agreement
  • Serve Section 13 Notice if tenancy is on a rolling monthly basis
RENEWAL FEE (LANDLORD'S SHARE) £NIL
  • Contract negotiation, amending and updating terms and arranging a further tenancy and agreement.
CHECKOUT FEE (LANDLORD'S SHARE): £NIL
  • Agree with tenant check out date and time appointment.
  • Instruct inventory provider to attend.
  • Negotiate with landlord and tenant any disbursement of the security deposit
  • Return deposit as agreed with landlord and tenant to relevant parties
  • Remit any disputed amount to Scheme for final adjudication
  • Unprotect security deposit
  • Instruct contractors; obtain quotes; organise repairs /replacement/cost of any broken or missing items
COURT ATTENDANCE £90 per hour
  • For more details, please contact the branch:
  • 279 Vicarage Road, Kings Heath,
  • Birmingham B14 7NE,
  • (T) 0121 444 5252 (F) 0121 270 2390 (t) @spectrauk,
  • (E):info@spectra-property.co.uk.