Charges For Management Services

Our charges for the different management services which we provide are unambiguous and will be agreed in writing before management services commence:

Letting Only

A charge equivalent to 50% of one month's rent payable under the terms of the tenancy agreement will be payable on completion of the tenancy agreement, subject to a minimum charge of £200. This fee is payable only in respect of our Letting Only service. The same charge will be made on each subsequent re-letting of the property to a new tenant.

Management Fee

Where our Full Management Service is used, an initial Setting-Up fee of £150 will be charged to cover the cost of setting up the account, preparing the tenancy agreement, serving notices and advertising the property. Once the property is let a monthly management charge of 12% of the monthly rent will also be payable. Where more than one property is managed for the same client we are always willing to negotiate a reduced rate. The percentage rate will be agreed at the time of initial inspection and will vary depending on the types and locations of the properties, rental values and any special terms of the management.

Preparation of Tenancy Agreement

The initial charge to the client is included in the setting-up Fee above. A renewal charge of £45 will be payable by the tenant on each new tenancy granted to an existing tenant.

Preparation of Inventory

Where the property is furnished and no inventory already exists, a charge of £35 per hour will be made if an inventory is required. Where an inventory has already been prepared by the landlord, a charge of £20 per hour will be made for checking this against the contents and typing the inventory. No charge will be made for the preparation of a Schedule of Condition for unfurnished properties.

Visits During Unoccupied Periods

We make no charge for visits to the property during periods when it is unoccupied where the property is being offered for re-letting. If you wish us to keep an eye on your house while you are away or when it is vacant and you are not re-letting it, we can do so at a charge of £25 per visit.

Court Appearances

Should it be necessary for our representative to attend at Court on behalf of the landlord a charge will be agreed on a time basis, minimum £60 per hour.

Expenses

Our Full Management Fee is inclusive of all incidental expenses such as telephone calls, postage and mileage and no extra charges are made for these items.

Tax Retention Fee

A charge of £50 per annum or part thereof will be made in connection with the retention of tax for overseas clients and for dealing with tax enquiries from the Inland Revenue under the Taxes Management Act 1970.

Sales to Tenants

A charge equivalent to 1% of the sale price will be payable by clients where a sale of the property is agreed to the tenant during the currency of the management by Tuffins or within 6 months of the termination of the management, whether or not the sale is actually negotiated by Tuffins.

Block Management Fees

The fee charged to joint owners of flats, Residents Associations or Management Companies in respect of the management of blocks of flats will depend on the number of flats in the block and the extent of management to be carried out. Charges will be discussed and agreed at the time of initial inspection. Charges range from £150 to £180 per flat per annum, plus an initial Setting Up Fee of £30 to £50 per flat.

Value Added Tax (VAT)

VAT will be added to the above fees and expenses where appropriate at the rate prevailing from time to time.