A. PROPERTY MANAGEMENT
(FULL SERVICE)
1. To take over the management of a pre tenanted rental property we charge no up front fees, just an ongoing management fee of 8% of the gross monthly rent.
Our Management fee includes:
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Providing an intermediary service between landlord and tenants for mutual benefit |
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Tenants welcome letter |
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Monthly collection of rent via bank transfer to MCS account |
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Monthly transfer of funds to landlords nominated bank account within 3 working days of receipt |
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Emergency and non emergency contact numbers for tenants |
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Project management of maintenance work (maximum limit of £2500 per year applies)* |
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Ensuring compliance with legal requirements (including annual landlords Gas Safety Certificate and Energy Performance Certificate where appropriate)** |
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Liaison with landlords and tenants to arrange tenancy renewals (if required) |
Notes:
* Management of additional maintenance above the annual limit is charged at a rate of 15% of the total cost of works.
** Additional costs may apply if new certificates are required |
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B. PROPERTY MANAGEMENT (RENT COLLECTED BY OTHERS)
1. To take over the management of a pre tenanted rental property where we are not required to collect rents we charge no up front fees, just an ongoing management fee of 6% of the gross monthly rent.
Our Management fee includes:
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Providing an intermediary service between landlord and tenants for mutual benefit |
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Tenants welcome letter |
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Emergency and non emergency contact numbers for tenants |
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Project management of planned maintenance work (maximum limit of £2500 per year applies)* |
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Ensuring compliance with legal requirements (including annual landlords Gas Safety Certificate and Energy Performance Certificate where appropriate)** |
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Liaison with landlords and tenants to arrange tenancy renewals (if required) |
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C. PROPERTY MANAGEMENT (RENT COLLECTION ONLY)
1. To provide a rent collection service for a pre tenanted rental property where we are not required to provide property management we charge no up front fees just an ongoing fee of 2% of the gross monthly rent.
Our Rent Collection fee includes:
• Monthly collection of rent via bank transfer to MCS account
• Monthly transfer of funds to landlords nominated bank account within 3 working days of receipt |
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D. PROPERTY SOURCING
1. To source and oversee the set up of an individual investment property to specific requirements from initial search right through to tenancy we charge a fixed fee of £5,500 regardless of the value of the property. This includes the following services:
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Sourcing a suitable property to individual requirements including research, local area inspections and property viewings |
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Providing relevant local area information and comparisons |
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Negotiations with vendors or their agents to achieve the best possible purchase price |
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Purchase assistance (to include introduction to independent mortgage broker and recommended solicitors if required) |
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Telephone and e-mail assistance during the buying process |
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Project Management of any initial renovation work (maximum limit of £20,000 applies) * |
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Ensuring compliance with legal requirements (including annual landlords Gas Safety Certificate and Energy Performance Certificate where appropriate) ** |
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Liaison with utility companies and local council to ensure correct billing of services |
Notes:
* Project Management of renovation work above the initial limit is charged at a rate of 15% of the additional cost
** Additional costs may apply if new certificates are required
2. To arrange the sale and purchase of a ready made investment property from our existing client database we charge a fixed fee of £1,500 to the buyer and £1,500 to the seller. This service is offered as a fast and efficient option for any clients wishing to sell or take over an existing investment property and is subject to availability.
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E. TENANT SOURCING
If you need to find tenants for your property we are happy to arrange the following services at additional cost. Tenant finding is provided in partnership with local agents and therefore fees will vary depending on location. We have arrangements with many agents to provide services at discounted rates to MCS clients.
• Marketing the property for rental
• Finding a suitable tenant
• Arranging and overseeing tenant reference checks
• Preparation of Assured Shorthold Tenancy agreement
• Set up of rental payment plan
• Deposit holding service through government approved scheme
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F. OTHER SERVICES
MCS is a bespoke property company and we may be able to offer other services by arrangement. Please contact us for further details.
Please note: The above information is provided as an overview of our fees for 2011 and further detailed information will be provided in all contracts that we produce. Fees may be subject to VAT and may change without notice. Please check with us for confirmation of current rates.
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