Landlord Fees

Our fees reflect the service you instruct us to provide. All rates below include VAT at 20%, with the equivalent rate before VAT shown in brackets. Percentage fees are charged on rent, with the calculation and payment arrangements set out in your written instruction and our Terms of Business.

Service fees

Letting service, fixed term of six months or longer
12% of rent (10% before VAT)

Letting service, fixed term of less than six months
24% of rent (20% before VAT)

Management service, in addition to letting
6% of rent (5% before VAT)

Combined letting and management, fixed term of six months or longer
18% of rent (15% before VAT)

Combined letting and management, fixed term of less than six months
30% of rent (25% before VAT)

Vacant property management
From £240 per month (from £200 before VAT)

The fixed-term bands above apply only where the tenancy can lawfully have a fixed term, including qualifying non-assured lettings. For an assured periodic instruction, we confirm the applicable fee and calculation in writing before you instruct us.

Working funds

Management during a tenancy requires a working fund of at least £2,000, agreed in writing. Vacant property management requires a working fund of at least £1,000 in addition to the monthly service fee. These funds are held for property expenses and are separate from our remuneration; sufficient cleared funds must be available before we can incur expenses on your behalf.

When fees are payable

Letting commission falls due at the start of the tenancy and is deducted from rent received until the amount due is paid. Management commission is collected in instalments as rent is received. Where we do not collect rent, invoiced fees are payable within 14 days.

Letting commission also applies to agreed renewals, extensions and continued occupation by a tenant or connected person introduced by us, including where we have not negotiated the continuation, as set out in the Terms of Business. No separate document-preparation fee is charged for tenancy agreements, extensions or renewals.

The management appointment has a minimum term of six months unless otherwise agreed in writing, with at least 28 days’ written notice of termination. This is a term of our appointment by the landlord, not a minimum period for an assured periodic tenancy. Ending management does not itself end any continuing liability for letting commission.

Additional landlord charges

Tenancy agreement, extension or renewal document
No charge

TDS deposit registration, where applicable
£30 per year (£25 before VAT)

Overseeing works during a vacant period
12% of works cost (10% before VAT)

Accompanying a contractor appointed by you
£120 per hour (£100 before VAT)

Assistance with an insurance claim
£240 per hour (£200 before VAT)

Assistance with a TDS deposit dispute
£240 per hour (£200 before VAT)

Landlord withdrawal after terms are agreed and tenancy documents prepared
£480, plus other incurred charges (£400 before VAT)

Non-resident landlord HMRC returns, where approval to receive rent gross is absent
£600 per quarter (£500 before VAT)

CHAPS transfer
£30 per transfer (£25 before VAT)

Sale of the property or an interest in it, where clause 2.4 applies
1.8% of sale price (1.5% before VAT)

Additional marketing requested by you
Cost agreed before proceeding

Hourly charges have a minimum charge of one hour. A CHAPS request must be received in writing at least 72 hours in advance.

Inventories, safety checks and certificates, cleaning, contractor work and any necessary specialist advice are charged separately. The relevant costs and instructions are discussed with you as appropriate.

The sale provisions in our Terms of Business extend to a sale to the tenant, a connected person or a third party, and include certain sales of shares or other interests. The sale commission is additional to any continuing letting or management commission. Its scope and payment triggers are set out in clause 2.4.

Where our charges remain unpaid for 14 days after becoming due, interest may be charged at 4% above NatWest’s base lending rate, under the Terms of Business.

Client money and professional protection

Alexander Millett International is a trading name of Yeoman Safe Limited. We are members of the Propertymark Client Money Protection scheme and The Property Ombudsman, membership number T04617. We are also members of the Tenancy Deposit Scheme, membership number G13562. Deposit arrangements depend on the tenancy type and are confirmed in writing.

Client money is held in a designated client account with NatWest. Please contact us for the full Terms of Business and details of our complaints procedure.