Landlord Fees

At Luv Plymouth Lettings Ltd, we are committed to providing transparent and comprehensive services to our valued landlords.
To ensure clarity and understanding, we offer two levels of service: Fully Managed (FM) and Tenant Find Only (TFO). Below, you will find detailed information regarding our schedules of fees and charges, along with a schedule of charges for any additional services that a landlord may require as a one-time option, even if they are not utilizing our tenant-finding services.
It's important to mention that we are not VAT registered, which means that our prices are not subject to the additional 20% VAT charge.
If you have any questions or require further clarification about our landlord fees, please do not hesitate to get in touch with us. We are here to assist you in any way we can.

Fully Managed Service Overview

Our Fully Managed Service offers a comprehensive package designed to ease the landlord experience and ensure the smooth management of your property. Here's a breakdown of our service and associated fees:

• Let Fee: £499 for one tenant, plus £49.99 for each additional adult tenant or guarantor.
• Monthly Management Fee: 7% for the first 6 months, then from month 7, 9% of the monthly rent. Discounts are available for multiple properties.

Benefits of our Fully Managed Service include:

• Professional Rental Value Assessment: We provide expert guidance on rental value expectations and advise on an effective marketing strategy.
• Property Advertising: We use our website, social media, major online channels including Zoopla and Luv Plymouth Lettings Advertising Board (if applicable) to market your properties.
• Floorplan and High-Quality Photographs.
• Viewings with Feedback: We arrange viewings and provide valuable feedback.
• Tenant Referencing, Credit and Right-To-Rent Checks: Thorough tenant referencing, credit and Right-To-Rent checks for your peace of mind.
• Tenancy Agreement: We prepare a fully compliant Tenancy Agreement.
• Deposit Protection: Your tenant's deposit is protected through The Deposit Protection Service custodial scheme.
• Meter readings, utilities and council tax; We will take photographic readings of gas, electric and water meters and notify the respective utility company of the new readings and tenants. We will also inform the council tax department.
• Rent Payment and statements: Monthly rent payments are transferred directly to your account and followed by an email including a statement detailing all transactions since the previous payment. We are happy to provide an annual statement upon request at no extra charge.
• Maintenance and repairs: We will log all maintenance issues that arise and report them to you as swiftly as possible. We have a trusted team of contractors and can arrange for quotes for any work required.
• Safety and performance certificates: We will routinely organise your annual gas safety certification, 5 yearly Electrical safety certifications and 10 yearly Energy Performance certificates.
• Heat, Smoke and C02 detectors: We will test these during handovers and routine inspections. All expiry dates will be added to our reminder system to ensure they are replaced as appropriate.
• Section 13 and Section 21 Notices: Issuing of Section 13 (rent increase) and Section 21 (notice to end the tenancy) as needed.
• Check-Out Service: We manage the check-out process when the tenant vacates.
• Regular Inspections: We conduct regular property inspections at no additional cost.
• Post-Tenancy Deposit Processing: Basic post-tenancy deposit processing and assistance with claims submission.

Services NOT included in our Fully Managed Service but available on request.

• If a Landlord requires us to administer Non-UK Resident Landlord Tax (NRL) there would be an annual charge of £100.00.
• To conduct and create an Energy Performance Certificate – We can obtain these for you from an external contractor.
• Further deposit claim action, if the claim goes to arbitration there will be an additional fee of £25. If we have to take a claim to our solicitor the fee will rise to £100.

Tenant Find Only Service

• Tenant Find Only – £574 for one tenant plus £49.99 per additional adult tenant or guarantor.

Benefits of our Tenant Find Only Service include:

• Professional Rental Value Assessment: We provide expert guidance on rental value expectations and advise on an effective marketing strategy.
• Property Advertising: We use our website, social media, and major online channels including Zoopla and Luv Plymouth Lettings Advertising Board (if applicable) to market your properties.
• Floorplan and High-Quality Photographs.
• **Viewings with Feedback: We arrange viewings and provide valuable feedback.
• Tenant Referencing, Credit and Right-To-Rent Checks: Thorough tenant referencing, credit and Right-To-Rent checks for your peace of mind.
• Tenancy Agreement: We prepare a fully compliant Tenancy Agreement.
• Deposit Protection: Your tenant's deposit is protected through The Deposit Protection Service custodial scheme.
• Meter readings, utilities and council tax; We will take photographic readings of gas, electric and water meters and forward them to you so that you may update the appropriate departments.
• Heat, Smoke and C02 detectors: We will test these during handover and report back to you.
• Rent and statement: We’ll collect the first month’s rent from the Tenant and credit to the Landlord’s chosen bank account and then send an email including a statement detailing the transactions associated with the new tenancy.
• Deposit protection; with the The Deposit Protection Service custodial scheme. This can then be transferred to the landlord's own DPS account or remain in ours for the duration of the tenancy.
• Handover responsibility for the Tenant(s) to the Landlord(s) including a Comprehensive Landlord Pack containing all information pertaining to the property and incoming tenant, once the keys to the property have been released and all relevant paperwork signed.

Services NOT included in Tenant Find Only Service but available on request:

• To conduct and create an Energy Performance Certificate. We can obtain these for you from an external contractor.
• Tenant Check-out (including photographic report) £90.00
• Property Inspection (including photographic report) £90.00
• Administration of Non-UK resident Landlord Tax £100.00

Services and Fees for Landlords NOT using our Fully Managed or Tenant Find Only Packages:

• Inventory Report £74.99
• Tenant Check-Out Report £74.99
• Creation of a Tenancy Agreement £49.99
• Issuing Section 21 to tenant(s) POA

Tenant Fees

Holding deposit

One week's rent. This is to reserve a property. Please note this will be withheld if any relevant person, including any guarantors withdraws from the tenancy, fails a right to rent check, provides materially significant, false or misleading information or fails to sign their tenancy agreement within 15 days or other deadline for agreement as mutually agreed in writing.

Security Deposit

5 weeks rent.
This may be offset against damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent

3% above the Bank of England base rate, once the rent is more than 14 days in arrears.

Lost Keys

Tenants are liable for the actual cost of replacing any lost keys or other security devices. If the loss results in locks needing to be changed, the actual cost of the locksmith's new lock and replacement keys for the tenant, landlord and other persons requiring keys will be charged to the tenant. If extra costs are incurred, these will be charged at 15 lb per hour, including the time taken to replace keys and other security devices.

Tenancy agreement changes

£49.99

Change of sharing tenants

£49.99

Early termination

Should the tenant wish to leave their contract early, they should be liable to the landlord's costs in re-letting the property as well as all the 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.