It is important for you to be aware of our fees and to know exactly what you are getting so you can avoid any unwanted surprises.
You lease your property to Sulets for a fixed term.
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. The service is meant to be fully inclusive for property owners and tenants.
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.
We charge 10% + VAT on the total cost of any repair for the commissioning, checking and invoicing of the repairs for Premium service properties.
Valid safety certificates must be provided at the start of the lease and will then be renewed by Sulets once they expire. The certificates covered include the gas safety record, legionella test, the periodic inspection/fixed wiring test and the portable appliance test. EPC’s and HMO licences are not covered.
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.
We charge 10% + VAT on the total cost of any repair for the commissioning, checking and invoicing of the repairs for managed service properties.
Any certificates are charged separately – see table below.
|Management Fee||13.2% (11%+VAT) management fee for one property (or the first property in a portfolio) and 12% (10%+VAT) each for every additional property that you place with Sulets.|
|Set up fee||30% (25%+VAT) of first months rent upon first renting the property.
If the same tenants remain in the property in future years, no further setup fees are charged. If more than 50% of the tenants change in any year, then the setup fee is chargeable again.
|Gas Safety Certificate (Boiler or 1st item)||£75 (includes an arrangement fee of £30)|
|Gas Safety Certificate & boiler service||£96 (includes an arrangement fee of £41)|
|EPC||£84 (includes an arrangement fee of £24)|
|PAT Test||£48 (includes an arrangement fee of £18)|
|Legionella Risk Assessment||£78 (includes an arrangement fee of £18)|
|Electrical Installation Certificate||£240 (includes an arrangement fee of £24)|
|Preparing HMO licence||£240 plus the cost of the Licence|
|Attendance at HMO License property inspections||£60|
|Attendance at Court on behalf of Landlord||£240|
Got any further questions?
Make sure you check out our FAQs for Property Owners page with plenty of further information, covering everything from rent payments, contract lengths and damage charges.