Important Information for Landlords and Tenants

At Phillips Harrod we’re dedicated to either renting or finding you a home to rent and fully understand the stress of moving. It’s our job to make the experience as enjoyable and smooth as possible from the search and paperwork through to the completion of the transaction and then right up until the move in day. As service is paramount to our company we are only a phone call away either during or after your tenancy regardless of whether or not we are managing the property, it is our role to be there to assist you at all times. Before we begin either renting or searching for you please find some important information below.

Phillips Harrod are an approved ARLA (Association of Residential Letting Agents http://www.arla.co.uk) licensed member.
Our Client Money Protection (CMP) is with ARLA and our Independent redress is provided by The Property Ombudsman (TPO).
Where applicable deposits will be protected by the Tenancy Deposit Scheme (TDS) where we are members.
We are members of the London Rental Standard (LRS) supported by the Mayor of London.

FEES FOR LANDLORDS AND TENANTS

TENANT FEES

Tenancy Agreement: This will include drafting the lease and negotiations to signing and completion of the transaction. £300 Inc.VAT

Reference Fee: Which may include identity checks, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability. £60 Inc.VAT per person

Renewal Fee: Contract negotiation, amending and updating terms and arranging a further tenancy and agreement. £120 Inc.VAT

Please note that there may be other associated costs for cleaning, inventory, check in and check out which are not charged by Phillips Harrod.

LANDLORD FEES

Depending on our instruction agreement our Landlord Fees for sourcing a tenant only will vary between 9.6% Inc.VAT up to 13.2% Inc.VAT of the gross annual rent, more information can be found in our terms of business available on request

Sourcing a tenant which includes:
• Collect and remit initial months’ rent received
• Agree collection of any shortfall and payment method
• Provide tenant with method of payment
• Deduct any pre-tenancy invoices
• Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
Our Landlord Fees for rent collection will be 1.2% Inc.VAT of the gross annual rent, more information can be found in our terms of business available on request

Rent Collection includes:
• Collect and remit the monthly rent received
• Deduct commission and other works
• Pursue non-payment of rent and provide advice on rent arrears actions
• Make any HMRC deduction and provide tenant with the NRL8 (if relevant)

Our Landlord Fees for full property management will be 6% Inc.VAT of the gross annual rent, more information can be found in our terms of business available on request

Property Management includes
• Collect and remit the monthly rent received
• Pursue non-payment of rent and provide advice on rent arrears actions
• Deduct commission and other works
• Advise all relevant utility providers of changes
• Undertake two inspection visits per annum and notify landlord of the outcome
• Arrange routine repairs and instruct approved contractors (providing two quotes)
• Hold keys throughout the tenancy term
• Make any HMRC deduction and provide tenant with the NRL8 (if relevant)