JohnBoot Posted August 1, 2013 Report Share Posted August 1, 2013 Below is an example of what a LA is quoting. I've been warned about their hidden charges what else should be included in the example? The following services are available:- Fully managed:- £350 + VAT set up fee, 8% Monthly fee, £35 + VAT to register the deposit in the TDS scheme £200 working float for maintenance issues. Routine inspections carried out . Rent Collect and administration £350 + VAT set up fee, 6% Monthly fee, £35 + VAT to register the deposit in the TDS scheme. Introduction only £350 + VAT and £35 + VAT to register the deposit in the TDS scheme. The following are a legal requirements:- EPC (Energy performance certificate) £79 + VAT GSR (Gas safety record) £60.50 + VAT Renewal Fees £75 + VAT Optional:- Inventory £85.00 + VAT. Check in charge goes to the tenant the check out charged of £75.00 + VAT is payable by the landlord. All of the above fees are taken out of the first months rent, if there is not enough then this may roll into the following months rent. Link to comment Share on other sites More sharing options...
Mortitia Posted August 1, 2013 Report Share Posted August 1, 2013 Sounds about right but you could save some cash by not using the TDS but the the free DPS and do it yourself. and you could do your own check out. You don't have to renew (that is not a legal requirement)- allow AST to go periodic - no fee. If you sign up agree to pay them in 2 payments six months apart (assuming 12 month tenancy) and read the contract thoroughly. They cannot legally charge for anything not in the contract. I would take special note of how to end the contract - that is one of the most asked questions on here. If you don't like what it says strike it out and initial it. Link to comment Share on other sites More sharing options...
JohnBoot Posted August 1, 2013 Author Report Share Posted August 1, 2013 Thanks for your advice. We're considering renting out what is currently our house which we own outright so we can move. Although we are only hoping to move about 1/4 of mile up the road and a close relative lives currently next door. We think as we have never done this kind of thing before it best to use a LA for the first 12 months. Is there any more advise you could give please. I'm abit green and just starting to do the research Link to comment Share on other sites More sharing options...
Melboy Posted August 1, 2013 Report Share Posted August 1, 2013 . Is there anymore advise you could give please. I'm a bit green and just starting to do the research Yes Nip into WH Smith and buy a good book on renting out property and becoming a landlord. Read the contract through and through until you are word perfect and understand what you are signing up for. Query anything you don't understand. If your not too sure come back to the forum and hopefully someone will put you right on your question before you sign up with the LA Link to comment Share on other sites More sharing options...
JohnBoot Posted August 1, 2013 Author Report Share Posted August 1, 2013 Cheers! Any suggestions book wise? Link to comment Share on other sites More sharing options...
Mortitia Posted August 1, 2013 Report Share Posted August 1, 2013 I think reading LL forums is better than any book. The main thing will be to divorce yourself personally from your old home. You may go back at the end of a tenancy and find it not in the state you left it in - you have been warned! Link to comment Share on other sites More sharing options...
Melboy Posted August 1, 2013 Report Share Posted August 1, 2013 Cheers! Any suggestions book wise? In the fast moving World of stuffing the bat up the Landlord's backside this book will not be 100% up to date but it will give you a general guide on what you are letting youself in for. .http://www.ebay.co.uk/itm/The-New-Landlords-Guide-to-Letting-Buy-To-Let-ex-Library-Book-in-VGC-/261255141046?pt=Non_Fiction&hash=item3cd40516b6#ht_80wt_958 Basically you need to read up on everything so at least you are aware of the responsibilities of being a landlord etc. etc. Link to comment Share on other sites More sharing options...
JohnBoot Posted August 2, 2013 Author Report Share Posted August 2, 2013 Mortitia If you sign up agree to pay them in 2 payments six months apart (assuming 12 month tenancy) Why do this please explain Link to comment Share on other sites More sharing options...
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