22 July 2017
Welcome to Knightons
  Buckhurst Hill: 020 8559 2211   Woodford Green: 020 8559 2288

Fees

 Standard Fees & Terms for Landlords 

Tenant Introduction           

  10%  plus VAT of gross rent received 

Rent Collection                   

 12% PCM plus VAT of gross rent received

Full Management & Rent Guarantee

  15% PCM plus VAT of gross rent received

 

Standard Fees & Terms for Tenants

Administration fees

An administration fee of £250.00 inc VAT will be payable upon creation of a legally binding tenancy agreement.

Should you wish to terminate your tenancy before the end of the term and the landlord agrees that you can terminate early, you will be responsible for the repayment of the pro-rata commission paid in advance by the landlord for the unexpired portion of the tenancy, unless you are exercising a break clause which is contained in your tenancy agreement.

It is your obligation to obtain written consent from the landlord for any change in the identity of the tenants. Upon receipt of this consent Knightons will draw up a tenancy agreement for signature by all parties. An administration fee of £210 inc VAT will be charged for this service.

An administration fee of £25 inc VAT will be charged for each letter sent by Knightons regarding late or non-payment of rent or administration charges.

A reference may be requested by a tenant at any time. We do not charge an administration fee for this service.

If any charges remain outstanding at the end of the tenancy, Knightons will deduct the amount due from the deposit.

Renewal of tenancy

Please contact us in advance if you wish to extend your tenancy. If the tenancy is renewed, we will make a charge of £50 inc VAT to cover our administration.

Payment of rent

The first instalment of rent must be paid in cleared funds when you sign the tenancy agreement. Thereafter, rent is payable by standing order (unless agreed otherwise) to arrive on the due date as stated in the tenancy agreement. This means that the standing order must be set up so that the funds leave your account three days before the rent is due. The full rent must be paid by a single standing order, we are unable to accept multiple standing orders.

Deposit

A deposit equivalent to one months rent must be paid in cleared funds when you sign the tenancy agreement and is held by Knightons as Stakeholder for the duration of the tenancy in accordance with the terms of the tenancy agreement and where applicable Knightons will register the deposit monies with a deposit protection scheme on the landlord's behalf. Knightons excludes liability in relation to loss caused by the insolvency of a financial institution which holds deposits in its contracts with landlords and tenants.

All deposit deductions must be agreed in writing by both landlord and tenant upon the termination of the tenancy. The tenancy agreement entered into is between the landlord and the tenant and, therefore, the tenant cannot hold Knightons liable for any deductions made from the deposit which may fall into dispute. Any interest earned on the deposit shall be retained by Knightons.

References/identification

We will take up references based on the details that you have supplied to us. These references may be passed to our client so that they can make a decision on granting a tenancy.

You are responsible for any administration charges levied by your own bank in relation to obtaining a reference.

Before the tenancy can proceed you need to provide us with a photo ID in the form of a passport or EU driving licence.

Check-in and check-out

Knightons will be instructed by the landlord as to what arrangements are to be made for the inventory and check-in. Unless agreed otherwise, the tenant will be responsible for the cost of the inventory and check-in and the landlord will be liable for the cost of the check-out (and any missed appointments).We advise you to make yourself available for the check-in and check-out.

Where Knightons organise an end of tenancy inventory check-out, a fee of £50 inc VAT will be charged. Where a landlord organises this inspection independently of Knightons, the charge may vary.

Management of the property

At the start of the tenancy we will advise you who is responsible for managing the property. This is not always Knightons. Where we are not managing the property we cannot authorise any repairs or maintenance or guarantee the speed at which repairs will be carried out. Where we are managing the property, we may have to obtain the landlord's consent before proceeding with a repair.

Where we manage a property and hold keys, we can usually provide access to Knightons contractors (with your permission). However, where we do not hold keys or the contractor is not willing to collect keys, it is your responsibility to provide access.

Insurance

It is your responsibility to insure your own belongings throughout the tenancy.

Utilities

You will be responsible for the payment of telephone, gas, water and electricity accounts at the property during your tenancy, as well as the council tax. It is your responsibility to notify the relevant companies and the local authority that you are moving into/out of the property. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy. Utility companies will also always require the occupant to provide access for any visit.

Taxation

If you pay rent directly to your landlord's bank account and your landlord is resident overseas, you will be responsible for applying the provisions of the HM Revenue and Customs Non-Resident Landlords scheme for taxing UK rental income and should ask us for advice on this. These provisions do not apply where you are paying your rent to Knightons.

Anti-Money Laundering Regulations

Knightons is subject to the Money Laundering Regulations 2007. As a result we will need to ask you for suitable identification, and will be unable to proceed with any work on your behalf if we are unable to obtain this from you.

VAT

All charges levied by Knightons are subject to VAT at the prevailing rate of 20%.

Complaints procedure

Should you have any problems with Knightons service which you are unable to resolve with the Negotiator involved or the branch/department Manager, you should write to the Director for the area/department in question. This complaint will be acknowledged within three working days of receipt and an investigation undertaken.

Amendments

Knightons reserves the right to change the schedule of fees and these terms of business upon providing reasonable notice in writing.

Subletting

By completing this form you confirm that you intend to enter into a private residential tenancy in your name and that you will not (i) sublet the property; (ii) advertise the property on any print or other media, including (but not limited to) internet-based marketing website; or other social media or messaging website or app (iii) take in paying guests or lodgers, without the prior consent of the Landlord.

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