Terms and Conditions of Business
We believe in being completely upfront regarding our fees - so you can manage the cost effectively and don't have to worry about any hidden charges along the way
The percentages below are applied in each case to the monthly rent payable by the tenant under the tenancy agreement, and are all inclusive of VAT.
1. Sole Agency
- Rent Collection Service - 14.4%
- Premier Rent Collection Service - 18.6%
- Managed Service - 18%
- Premier Managed Service - 22.2%
- Portfolio Service - 14.4%
- Premier Portfolio Service - 18.6%
- 2. Joint Agency
- Rent Collection Service - 16.8%
- Premier Rent Collection Service - 21%
- Managed Service - 20.4%
- Premier Managed Service - 24.6%
- The percentages set out under Premier Rent Collection Service, Premier Managed Service and Premier Portfolio Service include 4.2% for Rent Guarantee.
- All of the above are subject to a set up fee of £300 (Inc. VAT where the monthly rent is <£1,000)
- All of the above are subject to a set up fee of £360(Inc. VAT where the monthly rent is >£1,000<£2,000)
- All of the above are subject to a set up fee of £510(Inc. VAT where the monthly rent is >£2,000<£3,000)
- All of the above are subject to a set up fee of £760(Inc. VAT where the monthly rent is >£3,000)
- 3. Let Only Service
- 10.8% for sole agency for initial 12 month and then 5.4% for any extension whether a fixed term or on a periodic basis
- 13.2% for joint agency for initial 12 month and then 6.6% for any extension whether a fixed term or on a periodic basis
- A set up fee is payable of £300 Inc. Vat to cover initial administration costs.
Set Up Fee ( Landlords Share ) – This charge covers the following; Photographs and Marketing, Negotiating of tenancy offer, Accompany viewings, Arranging of tenant referencing, Advise of Landlord compliance and letting consents required, Drawing up of Tenancy Agreements and exchanging the same.
4. Tenancy Deposit Protection and provision of Prescribed Information to the Tenant –
Letting Only Service – a one off fee of £114 Inc. VAT.
5. Compliance Indemnity – a monthly fee of £13.20 inc VAT will be charged for the whole period in which the Tenant is in actual occupation of the Property. Romans will indemnify you for any fine or penalty that arises from our failure to ensure compliance with your statutory responsibilities (your “Compliance Requirements”) subject to conditions please enquire within for further information
6. Services relating to any Court or Tribunal proceedings or any protracted correspondence between Romans and the Tenant where Romans is instructed to act on the Landlords behalf - £300 Inc. VAT for up to a half day’s work or £600 Inc. VAT for a whole days work.
7. Any involvement by Romans / time spent in arranging basic maintenance, enhancement and /or refurbishment of the Property by Romans or its subcontractors, in monitoring, inspecting, examining and maintaining the Property when it is unoccupied, in purchasing any replacement appliances or equipment for the Property , making arrangements for major repairs to the Property or its fixtures, fittings, appliances or equipment, dealing with Insurance claims, obtaining alternative quotations from other contractors by special arrangement with the Landlord, meeting contractors at the Property – an hourly charge of £60 Inc. VAT.
8. Landlord lease extension - £132 Inc. VAT.
9. Early determination fee if you sell the property with the tenant in situ - £600 Inc. VAT
10. Obtaining Mortgagee’s consent for the Landlord to let the Property - £60 Inc. VAT.
11. For arranging further cleaning prior to the let - £60 Inc. VAT.
12. For arranging further key cutting - £12 Inc. VAT.
13. If the Property is not ready for inspection by the Inventory Clerk at the agreed appointment time – an abortive fee of £120 Inc. VAT.
14. Non Resident Landlord’s – an Annual charge of £15 Inc. VAT for remitting tax payments to HMRC and for processing a Non-Resident Landlord Return. .
15. UK Resident Landlord’s - an Annual charge of £15 Inc. VAT for providing financial information from the Letting of the Property to HMRC.
16. Providing Financial Information to the Landlord or their accountant for completing tax returns – an hourly charge of £60 Inc. VAT.
17. For serving a Section 21 Notice / Notice To Quit upon a Tenant - £60 Inc. VAT.
18. Additional inspections of the Property (over and above any number included in a specific service level) - £42 Inc. VAT for each additional inspection.
19. For the provision and delivery / collection of temporary heaters to the Property - £60 Inc. VAT.
20. Posting out of statements rather than receipt by email) £6 Inc. VAT per statement.
21. For familiarising ourselves with the Terms of any Tenancy Agreement provided by the Landlord / Landlord’s Solicitor - £60 Inc. VAT.
22. For arranging a safety check under the Furniture and Furnishings (Fire) (Safety) Regulations - £60 Inc. VAT.
23. For arranging a Landlord’s Gas Safety Record or any form of Electrical Safety Inspection (only applicable on the Letting Only Service or Rent Collection Service) - £30 Inc. VAT.
24. For arranging the fitting of any Smoke Alarms / CO2 detectors - £32.40 Inc. VAT.
25. Inventory Costs may be applicable including updating and re-typing – these costs vary dependent upon whether the Property is Furnished or Unfurnished and upon the size of the Property – please contact your local Office for further information.
26. Interest of 4% above the base rate of the Bank of England on any sums due to Romans for commission or additional fees if not paid within 30 days from the date upon which the payment was due.
Romans is a part of the National Federation of Property Professionals Client Money Protection Scheme through their membership of ARLA Propertymark (The Association of Residential Letting Agents)
Romans are members of the Property Ombudsman being the largest lettings redress scheme in the UK.
If you have any questions, please contact your Local Branch.