Tenant Charges

In addition to paying the rent, you may also be required to make the following payments permitted under the Tenant Fees Act 2019.

Before the tenancy starts (payable to ‘the Agent’)

Holding Deposit: 1 week’s rent

Deposit: 5 Weeks of Deposit under the Tenant Fees Act 2019

During the tenancy (payable to the Agent)

Payment of interest for the late payment of rent at a rate of 3% over the Bank of England Base Rate.

During the tenancy if permitted and applicable

Utilities – gas, electricity, water and sewerage
Communications – telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Television licence
Council Tax

Other permitted payments

Any other permitted payments, not included above, for breaches of contract or under the relevant legislation including contractual damages. These may include reasonable costs or losses incurred for loss of keys, security devices and changes to the tenancy agreement or early termination, if the Landlord agrees they can be made, up to the permitted limits.

Tenant Protection

Albany is a member of Safeagent which is a client money protection scheme, and also a member of PRS  (Property Redress Scheme) which is a redress scheme. You can find out more details on our website or by contacting us directly.

Landlord Fees

CHARGES FOR TENANT FIND ONLY

Minimum fee one month’s rent (Plus VAT) payable for each letting where the tenant is introduced

CHARGES FOR LET ONLY SERVICES

Start-up fees of £480.00 Inc. VAT plus 12% (Inc. VAT) payable for each letting to a tenant introduced (for whole term)

CHARGES FOR RENT COLLECTION SERVICE

15% (Inc. VAT) per annum based on the gross rental due for the term of the tenancy agreement, ignoring any options to terminate by the Landlord or Tenant, plus £480.00 including VAT set up fee & initial tenancy agreement.

CHARGES FOR FULL MANAGEMENT SERVICE

  • 18% of Rent Received (Inc. VAT)
  • Set-up Fees (Inc VAT) = £480.00
  • Inventory /Check -in Fees (Inc. VAT = Studio £190, 1 Bed £240 – 2 Bed £280, 3 Bed £320, 4 Bed £380, 5+ Bed £400
  • Re-letting Fees (Inc. VAT) = £480.00
  • End of Tenancy fee = £135.00 (onwards)
  • Check- out = Studio £150, 1 Bed £200 – 2 Bed £200, 3 Bed £200, 4 Bed £220, 5+ Bed £240

Additional charges

Tenant Credit Check/Referencing cost = £125.00 (Inc. VAT) per tenant
Right to Rent check = £60.00 (Inc. VAT) per tenant
Deposit Protection fees = £120.00 (Inc. VAT)

Certificates and Compliance:

Gas Safety Check Certificate = £118.00 (Inc. VAT)
Energy Performance Certificate = £150.00 (Inc. VAT)
Carbon Monoxide Alarms from £120.00 (Inc. VAT)
Portable Appliance Test Certificate = £100.00 (Inc. VAT) (Carried out on the landlord’s appliances)
Electrical Installation Condition Report = Studio £200, 1 Bed £220 – 2 Bed £250, 3 Bed £280, 4 Bed £320, 5+ Bed £400 fixed wire test.
Testing Smoke Detector and Report £55.00 (when carried out with EICR or PAT test)
Testing Carbon Monoxide Detector and Report - £55.00 (when carried out with EICR or PAT test)
Legionella Risk Assessment Report = £160.00

Licensing Admin Cost:

Selective licence - £250.00
Additional licence - £475.00
Mandatory licence - £475.00

Taking over management - 12% (10%+VAT) Where tenants are not introduced by Albany we will charge the above rate payable monthly for the duration of the tenancy term (minimum term twelve months)

Sale of property to tenants - 1.2% of the agreed sale price (see terms for further details)

Charges for rent collection 15% inc for each letting to a tenant introduced  ( for whole term )

LANDLORD CANCELLATION FEES

Minimum fees one month’s rent (Plus VAT) payable for each letting where the tenant is introduced.
Where the Landlord cancels the Agent’s instruction to provide a management service, the Agent will charge, and the Landlord will pay, a fee based upon 12% (inclusive of VAT) of the agreed rent for the period, not exceeding twenty-four months from the commencement date of the tenancy.
VAT is payable at the prevailing rate on all our fees. In accordance with consumer legislation, it is quoted as included in the prices stated above.

We hold Client Money Protection Insurance through Safeagent