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Memberships & Fees

LANDLORD COSTS FEE VAT at 20% FEE INC. VAT
TENANT FIND – USUAL FEE 80% of first months rental VAT at 20% 100% of first months rent
MANAGEMENT SERVICE
Monthly Management Fee Usual Fee
10% of rent VAT at 20% 12% of rent
Set-up Fee £200.00 £40.00 £240.00
Inventory charge:      
Up to £800 PCM £55.00 £11.00 £66.00
Above £800 PCM £75.00 £15.00 £90.00
Re-let fee £150.00 £30.00 £180.00
Inspections are optional £40.00 £8.00 £48.00

Tenants Fees

Mills Knight refer sellers and buyers to various trusted firms for services associated with the home move process for which in some cases a referral fee is paid to Mills Knight by the service provider. It is your decision whether you choose to deal with those firms. Mills Knight from time to time recommends conveyancing services. Should you decide to use them we could receive a referral fee of £120.00. Mills Knight recommend Brancaster House to sellers and buyers for mortgage advice. Should you decide to use Brancaster House we could receive a referral fee of £250.

Service Cost
Holding Deposit One week’s rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year) Five weeks’ rent. This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s) Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant’s Request) £50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant’s Request) £50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant’s Request) Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as all 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.

Client Money Protection (CMP)

The Client Money Protection (CMP) Scheme is a compensation scheme run by Propertymark which provides compensation to landlords, tenant and other clients should an agent misappropriate their rent, deposit or other client funds.

As a professional body, raising standards and providing consumer protection are key factors; the Client Money Protection Compensation Scheme plays an integral part in this.

View our Client Money Protection certificate HERE

Propertymark Conduct and Membership Rules can be found here: https://www.propertymark.co.uk/professional-standards/rules.html#obligations.


IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF

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