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Landlord Tiers of Service and Fees

We understand that when it comes to looking at letting your property and choosing a letting agency, one service does not fit all. You might only need help finding a good tenant, you might want help with everything.

Whether you want to be hands on with your investment, or sit back and allow someone to manage your property on your behalf; Prospect has the solution for you. We offer four tiers of Property Management service, covering everything from just finding you a tenant to our most popular service, Premier Managed, where we take care of everything from rental payments to maintenance.

Our Property Management services are award-winning, in fact, we’re the Best Lettings Agency in the UK! So regardless of which tier you opt for, you can rest assured you and your property will be properly looked after.

Discover what else on top of all of this is included in each of our different service levels on the handy chart below. If you’re ready to speak with your local Lettings expert, then click one of the buttons below to give us a call or arrange your free, lettings valuation.

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Standard features on all levels of being a Prospect Landlord include:

  • Comprehensive Property Marketing - Including Professional Photos
  • Tenant Finding Service
  • Obtaining References Including 'Right to Rent' Legislation
  • Deposit Protection with the TDS
  • Drawing up Tenancy Agreements
  • Organising Gas and Electrical Safety Certification.
  • Arranging and Managing Check in/out and Inventory Reports
  • Contract Renewal
  • Annual Rent Review
  • Marketing of Property 2 Months Before the End of Tenancy

LET ONLY

9%
(10.8% inc VAT)

  • Standard Let Services (*Listed Above)
  • 1st Month Rental Collection (Only)
  • -
  • -
  • -
  • -
  • -
  • -
  • -
  • -
  • -
  • -
  • -

PARTIAL MANAGED

12%
(14.4% inc VAT)

  • Standard Let Services (*Listed Above)
  • Monthly Rental Collection and Chase
  • Access to the 'Landlord Tracker'
  • Monthly Statements
  • Annual Tax Statement
  • -
  • -
  • -
  • -
  • -
  • -
  • -
  • -

OVERSEAS

17%
(20.4% inc VAT)

  • Standard Let Services (*Listed Above)
  • Monthly Rental Collection and Chase
  • Access to the 'Landlord Tracker'
  • Monthly Statements
  • Annual Tax Statement
  • Transfer of Utilities
  • Interim Property Inspection Report
  • Dedicated Property Manager
  • Arranging Repairs and Maintenance
  • Supplier and Contractor Payments
  • 24 Hour Emergency Maintenance Line
  • Legal Advice
  • HMRC Oversea Accounts Submission

PROPERTY VALUATION

Get a Free Property Valuation by filling in the form below


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Do you want to know how much your house or apartment is worth? Whether you are looking at selling or letting your property, Prospect can provide an accurate property valuation based on the current property market.

Rest assured that you are in good hands, Prospect has won the Best Estate Agents and Lettings Agents in Berkshire and Surrey for the third year running. With dedicated departments in every area or property, we have experts on hand to help you whatever your requirements.

All of our Property Valuations are FREE and No Obligation, so even if you are just curious about your property’s value, then no problem. If you decide to place your property on the market to sell or rent, don't forget that we operate on a no sales, no fee basis... so unless we're successful in selling or renting your property, then you'll have nothing to pay us.... unlike many online agents who charge non-refundable listing fees.

If you would prefer to call to arrange a valuation, you can find a list of our office contact numbers, by clicking here

Landlord Fees

In addition to the fee we charge to manage your property portfolio, there are a few additional set up fees for you to be aware of. There are also additional costs that could be incurred throughout the tenancy, which are also detailed below.

Setup Fee - £330 (inc VAT) & Room Setup Fee £150 (inc VAT)

  • Agree market rent and find a tenant suited within the landlord guidelines.
  • Advise on refurbishment
  • Provide guidance on compliance with statutory provisions and letting consents.
  • Erect board outside property in accordance with Planning Act 1990
  • Advise on non-resident tax status and HMRC (if relevant)
  • Register Tenants deposit with TDS and prepare tenancy agreement.

Inventory Fees

Property Size Unfurnished Furnished
1 Bedroom £144.00 £150.00
1 Bedroom Update £72.00 £75.00
2 Bedroom £168.00 £174.00
2 Bedroom Update £84.00 £87.00
3 Bedroom £192.00 £204.00
3 Bedroom Update £96.00 £102.00
4 Bedroom £240.00 £264.00
4 Bedroom Update £120.00 £132.00
4 Bedroom Update (2k - 2.5k PCM) £270.00 £300.00
4 Bedroom Update (2k - 2.5k PCM) £135.00 £150.00

Additional Property Visits - £90 (inc VAT)

To attend for specific reasons such as neighbour disputes, more visits to monitor the tenancy or for any maintenance issues

Instruction of a Energy Assessor for an EPC - £120.00 (inc VAT)

Legal requirement if the property does not already have one. Valid for 10 years.

Gas and Safety Testing - Combined Certificate - £199.00 (inc VAT)

Gas or Electric Safety Testing - Individual - £90 (inc VAT)

Renewal Fee (Landlord Fee)- £125 (inc VAT)

Portfolio Service - Renewal Fee £275.00 (inc VAT)

Renewal fee charged to Landlords for renewing a tenancy agreement on our Portfolio Service

Periodic Fee - £60 (inc VAT)

Annual charge for administration and preparation of documentation

Delayed Move in fee - £90.00 (inc VAT)

If the move in date is delayed due to the property not being ready, a delayed move in fee is charged to cover the contract adjustments.

Amendment Fee - £60 (inc VAT)

Contract negotiation, amending terms and updating the tenancy agreement during the term of the current tenancy.

Management Fees

We advertise out management fees without the inclusion of VAT. The table below details the service level and the management fee including VAT to help with calculations:

Service Level % % Inc VAT
Let Only
9%
10.8%
Partially Managed
12%
14.4%
Fully Managed
15%
18%
Overseas Landlord
17%
20.4%

Other Fees and Services

Out of Hours Visit- £50.00 p/hour (inc VAT) plus costs incurred

Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the hourly rate.

End of Tenancy Administration

If when moving out of the property the checkout report details work that needs to be be done, a 10% administration fee based on the total value of works order will be charged for arrangement and administration.

Submit non-resident landlord's receipts to HMRC - £90.00 (inc VAT)

A quarterly charge to remit and balance the financial return to HMRC quarterly – and respond to any specific query relating to the return from the landlord or HMRC

Subsequent Protection of the Tenancy Deposit (TDS) - £37.50 (Inc Vat)

Portfolio Only Service Charge £50.00 (Inc vat)

Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme. Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy

Documentation support for TDS arbitration Claim- £198.00 (inc VAT)

To prepare documentation to be used in supporting evidence in the event of the opening of a TDS arbitration case/

Progressing Insurance Claim Charge - 10% of total claim value

Obtain three or more contractors quotes - £60.00 (inc VAT) per quote

2 quotes are provided on most property maintenance work that is required. Where three or more quotes are requested by and obtained for the landlord, a charge of £60 for each quote thereafter the inital 2 quotes will apply.

Smart Rental Protection Plus:

6 Months Cover - £108.00 (Inc VAT), 12 Months Cover - £204 (Inc VAT)

Section 21 Warranty:

6 Months Cover - £108.00 (Inc VAT), 12 Months Cover - £144 (Inc VAT)

Court Attendance Fee - £90.00 (inc VAT) Per Hour

If you'd like clarification on any of the above points or would like to speak to someone about the benefits of being a Prospect Landlord, call Property Management on: 0118 955 9747.

Complete the form below to arrange your free, no obligation property valuation

We also offer to give £250 of our selling fee to your chosen local school upon selling your property. This is just one of the many ways we give back and help support the local community. If you'd like to learn more about our Back to Schools initiative and would like to discover more about what happens on a property valuation, please click here.

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