Colin Sclare Sales & Lettings is now located at The Brentano Suite, Lyttelton House, 2 Lyttelton Road London N2 0EF.
Bringing over 20 years of property sale, letting and management experience Colin and his team will offer local property knowledge to vendors, buyers, landlords and tenants.
Our ethos and goals are to be a little different to the run -of -the- mill estate agent by offering fair, realistic and meaningful advice, whilst aiming to achieve the best prices for our vendors and Landlords.
With our marketing tools, list of qualified buyers and tenants growing daily we can achieve your goal in selling or letting your property for the best price possible. We also have a wealth of historical knowledge of the area to provide you accurate sale valuations and rental return figures and yields for buy-to-let investments. We research into your enquiry carefully and comprehensively to advise you of a realistic and achievable selling price or rental valuation.
Our Letting & Management Fee structure to Landlords- brief summaryOur Letting Fee rates are very competitive at 7 % plus vat, 8.4% inclusive of vat , for the first year of the tenancy and 6% plus vat, 7.20% inclusive of vat for year 2, and from year three onwards with the same tenant(s) residing, it will be 5% plus vat, 6% including vat.
Our management fee is 4% plus vat, 4.8 inclusive of vat. This is paid monthly with the letting fee spread over 12 months to improve your monthly cash flow.
You will have other costs such as gas safety certificates currently £74, inventory fees, and electrical safety certificates as required (price on application ) and Energy performance certificate, which is currently £50.
“The Tenant Fee Act 2019 came into force on the 1st June 2019”Please note: this guidance applies to England only.
What fees can I ask a tenant to pay?
You cannot require a tenant (or anyone acting on their behalf or guaranteeing their rent) to make certain payments in connection with a tenancy. You cannot require them to enter a contract with a third party or make a loan in connection with a tenancy. The only payments you can charge in connection with a tenancy are:
a) the rent
b) a refundable tenancy deposit capped at no more than five weeks’ rent where the annual rent is less than £50,000, or six weeks’ rent where the total annual rent is £50,000 or above
c) a refundable holdings deposit (to reserve a property )capped at one week’s rent
d) payments to change the tenancy when requested by the tenant, capped at £50, or reasonable costs incurred if higher
e) payments associated with early termination of the tenancy, when requested by the tenant
f) payments in respect of utilities, communication services, TV licence and council tax; and
g) A default fee for late payment of rent and replacement of a lost key/security device, where required under a tenancy agreement.
If the fee you are charging is not on this list, it is a prohibited payment and you should not charge it. A prohibited payment is a payment outlawed under the ban.
Please click here to read about the tenant Fee Act
Here are our current certificates for Client Money Protection, the membership of UKALA and the Property Redress Scheme
Client Money Handling ProceduresPlease click here to read about Client Money Handling Procedures
Our letting fees to Tenants
From the 1st June 2019 all fees to Tenants are banned unless specifically permitted.This is good news for you!
This means you or a relevant person will no longer be required to pay for an inventory fee, administration fees, referencing fees, end of tenancy cleaning fees ( however you must return the property to the same standard it was given to you in including a professional standard where we show you evidence of a professional clean being carried out prior to your start date.
Your tenancy deposit will be limited to five weeks. This takes effect from the 1st June 2019 on all new tenancies signed and entered into from that date onwards.
Permitted fees and costs will be limited to the rent, the deposit ( maximum five weeks) one weeks holding deposit to reserve the property which has to be refunded to you within 15 days if the tenancy does not commence. You can consent to allow the holding deposit to remain with the agent in their Client account and agree that it can be set off against the first months rent and deposit.
There are a few exemptions to the Fee Ban such as late payment of rent and lost keys/ fob- please ask for details by calling our office where we will be happy to answer any questions you may have.Please click here to read about the tenant Fee Act
Our Sales fees structure to Vendors - brief summary1.5% plus vat Sole Agency, which is 1.8 % including vat, and 1.75% plus vat Multiple Agency, which is 2.1% including vat, payable on completion of a sales transaction. Floor plans and Energy Performance certificates are extra. Please ask for prices.
Please call us so we can help you with all your property needs: 020 8444-3351.
Look forward to seeing you soon,
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