Letting Fees

Landlord Fees & Services

We provide three core service levels.

Fully managed service covers every aspect of the regular management of the property, and is charged at 13%+VAT (effective rate 15.6%) against the rental income.

Contact managed service includes all the works required at the onset of a tenancy, plus rent collection and ‘first call’ services throughout the tenancy. This is charged at 10%+VAT (effective rate 12%) against the rental income.

Tenant find only is charged at half of one month’s rent, plus VAT – subject to a minimum of £400 plus VAT.

For Landlords choosing Contact Management or Tenant Find Only services, additional actions can be commissioned on an ad-hoc basis, as required and as per the fee schedule outlines in detail below.

For all Landlords, we can make arrangement for the commissioning of third party services to provide obligatory documentation (such as Gas Safety certification or EPC provision), and recommended services (such as Legionella testing, PAT testing, and third-party inventories). Prices for these services will be billed by Underhills at the rates indicated below.

Service	Comprising	Cost
Full Management	Including but not limited to: Marketing property; set-up tenancy; lodging deposits; collecting rent; all in-house administration of tenancy; all arrangement of third party services; all issuing of notices, letters, etc; regular inspections & condition reports; all check-out services; other duties as required for the management of the tenancy.Excludes: third party costs (eg Gas Safety, third party inventories, repair costs etc).	13%+VAT Effective rate 15.6%
Contact Management	Including but not limited to: Marketing property; set-up tenancy; lodging deposits; collecting rent; providing the first point of contact for tenants on all issues; resolution of simple issues where practical; reporting of all matters in a timely fashion, with recommended responses; serving basic notices and check-out processes.Other services may be purchased on an ad-hoc basis.	10%+VAT Effective rate 12%
Tenant Find Only	Marketing property; set-up tenancy; lodging deposits; collecting first month’s rent.	50% of 1 month’s rent + VAT Effective rate 60%

Landlords withdrawing a property from either fully managed or contact managed services with a tenant in situ, are required to issue Underhills with 2 months’ notice in writing on the calendar anniversary of the rent due date; and to pay a termination fee equivalent to 1 months’ rent plus VAT (effective rate 120% of the monthly rental value).

In House Services

Service	Ad Hoc Charge	Full Management Charge
Initial Condition Report	£150 + VAT (£180 total)	Included in fee
Periodic Inspection	£75 + VAT (£90 total)	Included in fee
Issuing Section Notice	£25 + VAT (£30 total)	Included in fee
Issuing rent arrears letter	£10 + VAT (£12 total)	Included in fee
Preparing Documents for Dispute Resolution	£150 + VAT (£180 total)	Included in fee
Renewing a tenancy agreement at Landlord’s request	£50 + VAT (£60 total)	Included in fee
Accompanying visits to property for tradespeople	£25 + VAT (£30 total)	Included in fee
Arranging access to property with tenants	£10 + VAT (£12 total)	Included in fee
Arranging quotes from tradespeople for works etc.	£10 + VAT (£12 total)	Included in fee
Advise on Non-residency status and/or HMRC requirements	£50 + VAT (£60 total)	Included in fee

Third Party Services

Third Party services include the following, and are subject to quotation as they are dependent on the size and scope of the property and the works required. Charges are made through Underhills, but the works are commissioned from external contractors at our preferential rates:

Energy Performance Certificates (EPC)
Independent Inventories
Gas Safety Certificate
Electrical Installation Condition Report (EICR)
Legionnaires Risk Assessment
Portable Appliance Testing (PAT)

…and other certifications as may be required from time to time.