Charges (from 1st April 2023)
(All figures include VAT unless stated otherwise)
Landlords – The following fees will apply:
Initial registration: An initial fee of £175 payable on landlord registration (to cover costs of identity verification, avoidance of money laundering checks, property ownership checks and other ‘set up’ costs)
Full management: 10 -15% of rents collected plus VAT (this fee is dependent on nature and location of property)
Additional CPM fees that may be payable:
Referencing fee (1st Tenant) – £108.00
Additional person referencing fee (2nd or subsequent tenants) – £72.00 per person
Guarantor referencing fee – £72.00
Please note that all of the above may be subject to third party charges for credit checks/referencing if raised on us. We will inform you if this will be the case
Empty property checks after 3 months – £18.00 per visit
DPS bond adjudication Claim:
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- Obtaining relevant evidence for submission to the Tenant and the DPS where arrears or condition issues – £60.00
- If claim is disputed liaising with the Tenant and the DPS to arrange an adjudication – £36.00
- In addition to the above if no response is received from a former tenant a Statutory Declaration will be required. Our charge for attending before a solicitor to make the declaration is £36.00 and a fee (presently £5.00) is payable to the independent solicitor
Preparation and service of Section 21 Notices (and if required provision of Certificate of Service- Form N215) – £84.00
We may if required and agreed with you undertake other miscellaneous services e.g. attending at a property to take a delivery, top up a prepayment meter etc. These are charged on an hourly rate basis (chargeable in 15 minute increments). Our hourly rate depends on the member of staff and ranges from £72.00 to £120.00. Wherever possible we will confirm our fees with you in advance
Other additional work e.g. obtaining estimates for and/or overseeing refurbishments where cost is over £300.00. Additional fees will be payable dependent on work undertaken. Details of our fees are set out below
Third Party fees that may be payable:
Inventory and check out report fees to third party inventory clerk. As a guide, inventory fees start from £70.00 (for an unfurnished studio apartment) and can be £115.00 (for a 4 bedroom unfurnished detached house). Check out reports are slightly less expensive
Rent guarantee insurance may be available when specific credit checks/referencing products are used and these will incur a third party insurer’s fee
CPM Fees for organising and supervising works undertaken by contractors, purchases of carpets, furnishings etc. on behalf of landlords:
Purchases, maintenance and repairs costing under £300. No charge where ‘Full Management’ Agreement.
Purchases maintenance and repairs costing over £300. 12% of costs incurred payable as below:
For works anticipated to cost under £2,500 (inc VAT), fee payable in full on receipt of instructions to obtain estimates for works from contractors/suppliers
For works anticipated to cost over £2,500 (inc VAT) in 3 instalments:
£360 (inc VAT) payable on receipt of instructions to obtain estimates for works
Fee to make 6% of value of works/purchases payable on estimates being provided
Balance of 12% fee payable on completion of works/purchases
Please note that Collier Property Management will require receipt of funds to enable contractors to be paid prior to contractors being instructed. Funds will be held in landlord’s ‘float’ account on our client account and paid in stage payments when work is approved by Collier Property Management.
Tenants – The following fees may apply:
As well as paying the rent, tenants may also be required to make the following permitted payments to Collier Property Management.
Before the tenancy starts:
Holding Deposit – 1 week rent
Deposit/Bond – Maximum of 5 weeks rent
During the tenancy:
For variation, assignment or novation of the tenancy agreement at the Tenant’s request a fee of £50, including VAT will be charged.
For the granting of consent under the tenancy agreement e.g. allowing a permitted occupier, consent to a pet etc. a fee of between £25 and £50, including VAT, will be charged
Payment of interest for the late payment of rent will be charged at a rate of 3% above Bank of England base rate
Where keys are lost, if the Agent assists, the Agent will charge the actual cost of a replacement if the key is collected from the Agent’s office. If the Agent meets the Tenant at the property, the Agent will charge for time at £15 per hour (or part thereof), including VAT plus the cost of the lost key
In addition to the above tenants will be responsible for payment of any unpaid rent or other reasonable costs associated with early termination of the tenancy
Payments can be made by bank transfer or by debit card and are FOC. We regret that we do not accept payments by credit card.
Collier Property Management LLP is a member of the SafeAgent Client Money Protection Scheme details of which can be found on our Home Page.