Fees and Expenses
Please note that we offer a free initial consultation and/or property market appraisal, prior to fee commitment.
These are the current basic standard service fee options applicable to prospective landlords considering letting a property through OH Property and to existing landlords of a property managed by OH Property. Please note that we offer a free initial consultation and/or property market appraisal, prior to fee commitment.
TENANCY SET UP FEES
Non-Managed Tenancy Set Up Fee
60% of one month’s gross rent (subject to a minimum fee of £420), plus an additional fee of £80 per tenant (to cover necessary referencing). N.B. If additional services are required, e.g. Guarantor Agreements, extended referencing, etc., any additional fees will be agreed in advance.
Managed Tenancy Set Up Fee
£350 per tenancy
Inventory & Statement of Condition Preparation (if Landlord not supplying)
From £140 (sliding scale based on size of property and level of furnishing)
– includes digital photographic inventory
MANAGEMENT FEES
Fully Managed Tenancy
12.5% of the gross rent received (subject to a minimum monthly fee of £70)
Rent Collection Only
6.5% of the gross rent received (subject to a minimum monthly fee of £35)
Maintenance Management Only
8.5% of the gross rent received (subject to a minimum monthly fee of £45)
OTHER FEES
Deposit Protection Registration Fee (if a non-managed tenancy)
£50 per tenancy per annum
HMRC Non-Resident Landlord Tax Collection, Payment & Return Fee (if applicable)
£300 per tenancy per annum
Legionella Risk Assessment Preparation (if Landlord not supplying)
£90 for initial assessment
£35 per annual review (for non-managed tenancies as review included in managed service)
Compliance Checks/Works Arrangement Fee
(e.g. Gas Safety, EPC, Electrical Installation Test, PAT Test, Smoke/CO Detector Installation, etc. - as applicable and if Landlord not supplying)
£35 per item (for non-managed tenancies or prior to management commencing)
ALTERNATIVE FEES
Alternatively or additionally, fees may be charged on a different basis depending on the nature of the work required, such fees to be agreed in advance.
Time Basis (typically for consultancy, ad hoc work, etc.)
£70 per hour (subject to a minimum of 1 hour and rounded up to the nearest half hour thereafter and applicable between the hours of 8 am and 7 pm Monday to Friday and 9 am to 1 pm on Saturday, with an hourly rate of £100 per hour outside of those times)
Percentage Basis
(typically for larger project management work, e.g. organising and overseeing refurbishments)
10% of the total sum of the subcontractors invoices.
BESPOKE FEES
Should an individual bespoke service be required outside of the standard service options above, we will be pleased to discuss and quote accordingly.
VAT
We are not currently VAT registered, so VAT will not apply to our fees.
TERMS OF BUSINESS & INSTRUCTION MANDATE
This would be provided for completion, signature and return upon receipt of provisional instructions to act but we are happy to explain and discuss all aspects of our service in advance.
TENANT FEES & EXPENSES
These are the current fees and expenses applicable to prospective tenants applying to rent a property through OH Property and to tenants in an existing tenancy managed by OH Property.
Pre-tenancy fees and expenses:
Application Processing and Referencing Fee
In accordance with The Tenant Fees Act 2019, there is no fee payable.
Holding Deposit
(per tenancy - to reserve a property subject to references and contract)
Equivalent to a maximum of 1 week’s rent (the precise figure will be advertised and confirmed for each individual property).
N.B. Payable at the time of application. This will be withheld if any relevant person (including any guarantor(s) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant false or misleading information, or fails to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing on the application form).
Security/Damage Deposit
(per tenancy – to cover damages and/or defaults on the part of the tenant)
Equivalent to a maximum of 5 weeks’ rent for annual rents under £50,000, or a maximum of 6 weeks rent for annual rents over £50,000 (the precise figure will be advertised and confirmed for each individual property).
N.B. Payable promptly following the tenancy agreement being signed. N.B. This applies to all tenancies, even if signed significantly in advance of the tenancy comencement date (e.g. Student tenancies).
Other Fees and Expenses:
Tenancy Addendum Fee
(applies to any variation of contract and/or change of sharer)
£50.00 (or the amount of reasonable costs if higher), per agreed variation to the tenancy and/or per change of tenant. This is to cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents, as applicable.
N.B. Only chargeable if at the tenant’s request. This is subject to landlord’s approval, such approval to be entirely at the landlord’s discretion.
Replacement Key or Security Device Fee
(lost or damaged by tenant)
The actual cost of replacing any lost or damaged key(s) and/or security device(s) will be chargeable to the tenant.
N.B. If the loss results in locks and/or security entry systems needing to be changed or repaired or access to the property needing to be gained for the tenant by a third party, the actual labour costs of a locksmith or applicable third party contractor, new lock/s and/or systems and replacement keys and/or devices (all as applicable) for the tenant, landlord and any other persons requiring keys will be charged in full to the tenant. If extra costs are incurred by the landlord or agent, there will be a charge of £15 per hour for the time taken replacing any lost key(s) and/or security device(s).
Unpaid Rent
Interest at 3% above the prevailing Bank of England Base Rate per annum, from the date the rent was due until it is paid, may be levied on the overdue sum by the landlord in order to pursue non-payment of rent.
N.B. This will not be levied until the rent is more than 14 calendar days in arrears.
Early Termination Fee
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s or agent’s costs in re-letting the property, as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
N.B. Only chargeable if at the tenant’s request. This is subject to landlord’s approval, such approval to be entirely at the landlord’s discretion.