Vendor Fees

1% plus VAT of the agreed Sale price, payable upon completion.

No upfront fees!

Landlord Fees

Guaranteed Rent
If you are renting your property to us on the Guaranteed Rent Service, we will not charge you any fees at all.

Charges will apply for our other services, please see the table below for details of these.

Set Up Fee for Fully Managed and Rent Collection
When you first instruct us on either of these schemes you will have to pay a Set Up Fee. This fee covers all the cost of advertising, finding a tenant, compiling the inventory and drawing up agreements etc. The Set Up Fee is payable each time you instruct us to find a new tenant for your property.

A fee for protecting the tenant’s deposit may be charged separately to cover our costs.

Commission for Fully Managed and Rent Collection
We charge a monthly commission for the ongoing management of your property, which will depend on the level of service you require.

Renewal Fee for Fully Managed and Rent Collection
If you are happy to renew the tenancy we may charge you a Renewal Fee, payable prior to the tenant signing a new agreement.

Tenant Find Charges
If you simply want us to find a tenant for your property, we will charge you a one off fee. This fee covers all the cost of advertising, finding a tenant, compiling the inventory and drawing up agreements etc.

Renewal Fee for Tenant Find
If you are happy to renew the tenancy we may charge you a Renewal Fee, payable prior to the tenant signing a new agreement.

Our Fees
Charge (inclusive of VAT where applicable)
Standard Set Up Fee – Fully Managed £300
Standard Monthly Commission – Fully Managed 12% – 14.4%
Standard Set Up Fee – Rent Collection £300
Standard Monthly Commission – Rent Collection 9.6%
Standard Tenant Find Fee £495 (66% of 1st month rent or min £495)
Tenant Find Renewal Charges £75

Any percentage fees shown are calculated based on the monthly rent

We hold Clients Money Protection insurance provided by Safeagent – Safeagent Scheme

Tenant Fees

TENANT FEE GUIDE

Before the tenancy starts (payable to Northwood (Hereford) Ltd “the Agent”).
Holding Deposit* – Maximum of 1 weeks rent per tenancy (England and Wales)
* This may be a non-refundable payment

This fee is non-refundable should you decide not to progress your application/sign your tenancy agreement within 15 Calendar days (unless otherwise mutually agreed) or if you have given false/misleading information on the application form or any applicant fails a Right to Rent check.
It will be returned to you in the event the landlord is unable to proceed

Deposit**
– 5 weeks’ rent (properties in England)
– This is to cover any damages, dilapidations & defaults on the part of the tenant during the tenancy.
– 6 week’s week’s rent. If a pet has been permitted the deposit will increase by an extra 1 week’s rent per pet (properties in Wales)

During the Tenancy (payable to the Agent)
For English Properties:

Payment of interest for the late payment of rent 3% above Bank of England base rate.

For Welsh properties:

Payment for the late payment of rent [£35 Inc VAT]
Payments in Default – payment for a breach of the tenancy agreement as prescribed in the Tenancy Agreement – These may include reasonable costs or losses incurred for loss of keys, security devices, missed appointments, wilful or negligent damage to property, emergency call out fees caused by Tenant’s actions or early termination.

During the Tenancy if permitted and applicable.
Utilities – gas, electricity, water and sewerage
Communications – telephone and broadband.
Installation of cable/satellite.
Subscription to cable/satellite supplier.
Television licence.
Council Tax.

Lost Keys or other Security Devices
Tenants are liable for the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord & any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (Inc VAT), if appropriate, for the time taken replacing any lost keys or security devices.

Variation of Contract (At Tenant’s Request and if agreed by Landlord).
£50 (inc VAT) to cover agent’s costs in contacting landlord, taking landlord instructions & preparations of new contracts (if required) & system adjustments.

Change of Sharer (At Tenant’s Request and if agreed by Landlord)
£50 (inc VAT) per replacement tenancy or any reasonable costs incurred if higher:
To cover the costs associated with amending the tenancy agreement to reflect the change.

Variation of Contract (At Tenant’s Request and if agreed by Landlord)_
£50 (inc VAT) to cover agent’s costs in contacting landlord, taking landlord instructions & preparations of new contracts (if required) & system adjustments.

Early release from tenancy
If authorisation is given allowing you to vacate the premises before the expiration of any tenancy agreement, you may be liable for the following:

i) Rent up to the date on which the premises are re-let or the expiration of the tenancy agreement, whichever is the sooner
ii) Council tax, water rates, gas and electricity charges along with any other bills which are your responsibility under the tenancy agreement up to the date the premises are re-let, or the expiration of the tenancy agreement, whichever is the sooner
iii) There will be a charge, if appropriate, for the landlord’s costs for re letting the property.
iv) These costs will be no more than the maximum amount of rent outstanding

Other permitted payments.
Any other permitted payments not included above, for breaches of contract or under the relevant legislation including contractual damages.

Please note: Should you report a maintenance issue with the property and a contractor is called out and their investigations find that the fault has been caused by the tenant/s or an associate of the tenant/s, or alternatively no fault exists, any cost for this call out will be the responsibility of the tenant/s. Northwood reserve the right to deduct any unpaid monies from the deposit.

Tenant Protection
We hold Client Money Protection through safeagent. We are also a member of The Property Ombudsman, which is a redress scheme. Last updated at 14/07/2021, 3:58 PM by Rebecca Ericson-Grantham

Last updated at 9:04 AM 15/07/2015 by allAgents