At Sulets we pride ourselves on being honest and open about our landlord fees.
Sulets offer two types of service to landlords, here is an overview of what is included and how they compare.
Sulets Leased Service
You lease your property to Sulets for a fixed term, and we guarantee your rent.
Sulets will then sub-let your property to a group of tenants and take over the day-to-day management of the property. Your property will be returned to you at the end of the lease empty and in a similar condition to the start of the lease, allowing for fair wear and tear.
Sulets pays for all safety certificates that expire during the tenancy including the gas safety record, the periodic inspection/fixed wiring test and the portable appliance test. The HMO licence is not covered.
You will need to ensure that you provide valid safety certificates at the start of the lease.
We also include 6 cleans of the common parts of the building and tenant contents insurance as part of the service.
There is no set up fee or management fee. The landlord agrees to let the property to Sulets, when Sulets has found suitable prospective occupiers. Instead of a set up and management fee the agent is entitled to keep the difference between the rent reserved by the lease and the rent payable by the occupiers.
The service is meant to be fully inclusive for property owners and provides you will peace of mind that you will always receive the rent irrespective of whether the tenants pay and the property will be cleaned, maintained and returned to you at the end of the lease.
Leased Service Fees
Management Fee | £0. We lease the property from you |
Set-up fee | £0 |
Maintenance Fee | We charge 12% (10% + VAT) on the total cost of any repair for the commissioning, checking and invoicing of the repairs for leased service properties. Minimum repair fee is (£10 + VAT). |
Leased Additional Fees
Gas Safety Certificate (Boiler or 1st item) | £0, included with leased |
EPC | £0, included with leased |
PAT Test | £0, included with leased |
Electrical Installation Certificate | £0, included with leased |
Preparing HMO or Selective Licencing application (includes 1 visit to the property) | £300 (£250 + VAT) plus cost of HMO or Selective Licencing application |
Additional attendance at HMO or Selective Licencing property inspections | £60 (£50 + VAT) |
Attendance at court on behalf of landlord | £300 (£250 + VAT) |
Additional property visit at landlord’s request | £60 (£50 + VAT) |
Print and process any documents relating to the tenancy | £30 (£25 + VAT) + postage |
Sulets Managed Service
Sulets will rent the property for you, collecting the rent and dealing with all the day-to-day management issues on your behalf.
With this service, once your property is let, Sulets will manage the property. We’ll take care of the tenancy agreements, deposit collection, chasing rent, and minor repairs.
Any certificates are charged separately – see table below.
Managed Service Fees
Management Fee | 13.2% (11% + VAT) management fee. |
Set up fee | 30% (25% + VAT) of first full months rent upon first renting the property. Minimum amount chargeable £300 + VAT. |
Renewal fee (same tenants) | £240 (£200 + VAT) |
Maintenance Fee | We charge 12% (10% + VAT) on the total cost of any repair for the commissioning, checking and invoicing of the repairs for managed service properties. Minimum repair fee is (£10 + VAT). |
Managed Additional Fees
Gas Safety Certificate (Boiler or 1st item) | £85 (£70.84 + VAT) |
Gas Cert & Boiler Service | £108 (£90 + VAT) |
EPC | £96 (£80 + VAT) |
PAT Test | £54 (£45 + VAT) |
Electrical Installation Condition Report EICR | £300 (£250 + VAT) |
Preparing HMO or Selective Licencing application (includes 1 visit to the property) | £300 (£250 + VAT) plus cost of HMO or Selective Licencing application |
Additional attendance at HMO or Selective Licencing property inspections | £60 (£50 + VAT) |
Attendance at court on behalf of landlord | £300 (£250 + VAT) |
Additional property visit at landlord’s request | £60 (£50 + VAT) |
Print and process any documents relating to the tenancy | £30 (£25 + VAT) + postage |
Completing a Statutory Declaration | £48 (£40 + VAT) plus cost of each declaration plus postage |
Let Only Service*
The Let Only service has been discountinued and is only available to existing landlords.
Let Only setup fee (chargable for a new tenancy or where there are any changes to renewal tenancy) | 75% of full months’ rent. Minimum £550 + VAT. |
Let Only renewal fee (same tenants) | 50% of full months’ rent + VAT |
Additional property visit at landlord’s request | £60 (£50 + VAT) |
Additional attendance at HMO or Selective Licencing property inspections | £60 (£50 + VAT) |
Attendance at court on behalf of landlord | £300 (£250 + VAT) |
Print and process any documents relating to the tenancy | £30 (£25 + VAT) + postage |
Preparing HMO or Selective Licencing application (includes 1 visit to the property) | £300 (£250 + VAT) plus cost of HMO or Selective Licencing application |
Completing a Statutory Declaration | £48 (£40 + VAT) plus cost of each declaration plus postage |
Gas Certificate | £85 (£70.84 + VAT) |
Gas Cert & Boiler Service | £108 (£90 + VAT) |
PAT Test | £54 (£45 + VAT) |
Energy Performance Certificate | £96 (£80 + VAT) |
Electrical Installation Condition Report EICR | £300 (£250 + VAT) |
Compare our services
Leased Service | Managed Service | |
Guaranteed rent payments | ||
6 property cleans throughout the year | ||
Safety certificates included | ||
Initial appraisal and valuation | ||
Marketing of property | ||
Production of tenancy documents | ||
Production of guarantor documents for each tenant | ||
Deposit collection and return (Plus registering on DPS with Managed Service) | ||
Collection of rent and transfer | ||
Inventory | ||
Property inspections | ||
Maintenance service for minor repairs | ||
Check out inspection | ||
Dilapidations and arbitration of bond deductions |
Got any further questions?
Make sure you check out our FAQs for Landlords page with plenty of further information, covering everything from rent payments, contract lengths and damage charges.
Start letting your property with Sulets.
Contact our team today for a free valuation
Email enquiries@sulets.com or call 0116 467 0315
Contact Sulets