Letting and Fees


Redwald Estates will be offering soon a range of services for landlords to suit all circumstances and commitments. 

Whether you are letting out your investment(s), your own home while living overseas, or you have a portfolio of properties, we can offer advice via our trusted partners. 

Our reputation with companies and organisations ensures that we are able to find the most suitable tenant for your property for the period that suits you best. 

We can also advise on a comprehensive property management and rent collection services for busy and absent landlords, ensuring complete peace of mind for all our clients during the tenancy. 

Landlord’s Information

When you agree to use our services, you agree that we may use information you give us, including information about yourself, for the purposes of performing our obligations to you. You also agree that we may supply such information to other parties as may be required to fulfil our, or your, legal obligations.

When you agree to use our services, you also guarantee that all the information you provide to us is complete and correct to the best of your knowledge and belief. You agree to inform us immediately if it comes to your attention that any information was incorrect. If we suffer any loss or incur any cost because information you have given us is or was incomplete and/or incorrect, you agree to reimburse us and compensate us for losses suffered.

Important Notes

  1. If we successfully introduce a tenant, we will assume you have accepted the terms and conditions within our literature.
     
  2. At the beginning of each tenancy, we are entitled to the full letting fee (introduction fee) outlined opposite for the term of the tenancy as written in the agreement. If this fee is more than the rent, you must pay the balance within seven days of receiving our invoice.
     
  3. If a tenant gives notice in line with a tenancy agreement and they end a tenancy early, you are then entitled to a refund of any letting fees paid for the term, which is left to run.
     
  4. If the tenancy we have arranged is extended for a further period, or you grant a new tenancy at any time to the original tenant (or the same occupants), or when a tenant we have introduced is still living in the property, we are entitled to the letting fee in full at the start of the new term or period. 
     
  5. The minimum letting fee will be £600 including (Value Added Tax) V.A.T. 
     
  6. We take the management fee from rent we receive (usually monthly) or by sending you an invoice.
     
  7. We will not refund fees if the tenant stops paying rent, whatever the reason. 
     
  8. If the property is sold or passed on with the tenant still living in it, you still have to pay us fees for the whole tenancy. 
     
  9. If you write a cheque which is not paid by your bank, you will have to pay a charge of £50 to cover bank charges and administrative costs. 
     
  10. We do not pay interest to landlords or tenants on any money we hold. 
     
  11. We may take any money you owe us for fees from any rent we receive and any deposit money which might be due to you at the end of the tenancy. 
     
  12. Any instructions or advice we receive from any named landlord or their representative are deemed to be received on behalf of all named landlords.
     
  13. We cannot be held responsible for any loss, however arising, from a landlord’s or tenant’s failure to fulfil their obligations to the other party.
     
  14. You have to pay for any pre-tenancy works (e.g. decorating, cleaning), which we may organise for you directly to the contractor unless you provide us with sufficient monies in advance. We will give your details to contactors for invoicing purposes.
     
  15. The information and terms will change from time to time to take account of changes in laws, regulations and new advice. You will be told about of these changes and/or sent a new booklet, by post or email, as they occur.
     
  16. Any commission, interest or other income earned by the Agent while carrying out its duties, including without limitation any interest on deposits held or from referral's to solicitors, EPC providers, contractors, surveyors or inventory clerks will be retained by the Agent.
     
  17. From the 1st February 2016 under Section 22 of the Immigration Act 2014, the law introduces the requirement for all landlords of private rental accommadation in England to carry out “Right to Rent” checks for new tenancy agreements to determine whether occupiers aged 18 or over have the right to live in the UK legally. These checks need to be done by the landlord or an agent appointed by the landlord.

Complaints

We will aim to offer you the best possible service but there may be times when you may want to make a complaint. We are members of The Property Ombudsman (TPO) and the National Approved Letting Scheme (NALS). We will always try to deal with any problems wherever possible, quickly and to your satisfaction.

Please see the steps you should take if you want to complain to us:

  1. First, please speak to the Manager. They will listen and do their best to sort the matter out there and then.
     
  2. If you are not satisfied after speaking to the Manager, please address your complaint in writing to them. They will then acknowledge your complaint within three working days. After a full investigation, they will write to you again within seven working days.
     
  3. If you are still not satisfied, you should refer your complaint to:
    The Director, Redwald Estates, Saracens House, 25 St. Margaret's Green, Ipswich, IP4 2BN. They will acknowledge your complaint within three working days and will respond, in detail, within seven working days.
     
  4. If you are still not satisfied after following our complaints procedure you may refer your complaint to:
    The Property Ombudsman, Milford House, 43-55 Milford Street, Salisbury, Wiltshire SP1 2BP Website: www.tpos.co.uk

    Following this complaints procedure does not affect your legal rights.

Fees

Commission

If we introduce a tenant to your property we charge a percentage of the gross rent for the term of the tenancy. The letting fee is due at the start of the first term of the tenancy.

 

Inc. VAT

(Net charge including VAT)

Letting and management service

18%

(15%)

Letting and rent collect service

14.4%

(12%)

Letting service

12%

(10%)

Management service

6%

(5%)

Rent collect service

2.4%

(2%)

Short term letting and management service

34.4%

(27%)

Short term letting service

26.4%

(22%)

Minimum lettings fee

£720

(£600)

Renewal and Extension

These will be charged at the same rate as the commissions above and are due at the start of any extension period (also known as renewal).

Administration and Documentation

If we introduce a tenant to your property we charge a percentage of the gross rent for the term of the tenancy. The letting fee is due at the start of the rst term of the tenancy.

 

Inc. VAT

(Net charge including VAT)

To prepare documents for a new tenancy

£250

(£208.34)

To prepare documents to extend an existing tenancy

£125

(£104.17)

Letting and rent collect service

£95

(£79.17)

Letting service

£95

(£79.17)

Copy Statements

£25

(£20.83)

Owners income and expenditure report

£25

(£20.83)

Protection of security deposit (TDS)

£50

(£41.67)

Administration and Documentation

 

Inc. VAT

(Net charge including VAT)

Vacant management charged quarterly (if applicable)

£420

(£350)

Additional property visits

£95

(£79.17)

Works in between tenancies (if applicable)

12%

(10%)

Works carried out during management over £500

12%

(10%)

Overseeing works for an Insurance claim

£500

(£416.67)

Additional

No additional charges are added for marketing of properties.

Quotes available upon request such as building contractors, inventory clerks, cleaning companies and key cutting.

Redress Scheme

Redwald Estates are proud to be members of The Property Ombudsman and The National Approved Letting Scheme.

Deposit protection scheme

Redwald Estates are proud to be members of The Tenants Deposit Scheme and SAFEagent, the Client Money Protection (CMP) Scheme which ensures that we are protecting our clients monies.

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