How much will it cost me to let my property?
The specific costs involved in letting your property would be set out in our terms and conditions of business. Before letting, you will need to budget for:
- Letting fee - a letting fee will be due when a tenant introduced by us enters into a tenancy agreement with you. This will usually be a percentage of the rent plus VAT, paid in advance for the period of the fixed term agreement. The letting fee will be due if you and your tenant decide to renew, extend or continue the tenancy after the initial fixed term has ended.
- Management fee - if you choose to use our property management service, then the fee will be charged as a percentage of the rent plus VAT and will be collected in line with the rental payments (eg. monthly, quarterly, six-monthly). This will be taken from rent received from your tenant.
- Energy Performance Certificate (EPC) - you will need to provide us with an EPC before we can market your property and we can help you arrange this. We are required to give a copy of an EPC to anyone wanting to view the property and to any tenants when they move in.
- Inventory and check in report - we strongly advise you to have an inventory and schedule of condition drawn up by a professional, impartial inventory clerk before the start of a tenancy. The tenant should also be checked into and out of the property using this inventory, again by a professional clerk. This will be your evidence if you need to make a claim against the tenant’s deposit at the end of the tenancy. We can help arrange this for you.
- Tenancy Agreement - we can offer you a comprehensive standard tenancy agreement which can, where possible, be amended to suit your requirements.
- Tenancy deposit protection - if the tenancy is to be an Assured Shorthold Tenancy (AST) then you are legally required to protect any monetary deposit with an approved tenancy deposit protection scheme. We are members of the Tenancy Deposit Scheme (TDS), run by The Dispute Service Ltd, and can do this on your behalf for a small administration fee. View KFH landlord fees.