Transparent Fees
Our aim is to ensure that you have a clear understanding of any applicable charges throughout the entire process, as detailed in our Prime Land Property Fees Guide.
Prime Land Property Fees Guide
Service Tiers
GUARANTEED RENT – 0% commission on 1-5 years Lease
LET ONLY – 8% (incl. VAT)
RENT COLLECTION – 5% (incl. VAT)
FULLY MANAGED – 15% of rent (incl. VAT)
Additional fees and charges (irrespective of level of service)
Check In/Out Fee – (Landlord’s Share £250.00 inc VAT)
- Organise check-in for commencement of tenancy
- Agree with tenant check-out date and time appointment
- Instruct the inventory provider to attend, provide a report and comment as appropriate
Tenancy Set Up Fee (£250.00 inc VAT)
Preparation of Tenancy Agreement, Right to Rent and AML checks at the commencement of the tenancy to meet current legislation.
Tenant Referencing Fee (£50.00 inc VAT per person)
Vetting of tenants including any applicable guarantors at the commencement of tenancy including a credit check and any other necessary references to compile a final report on the suitability of tenant party.
Repairs & Maintenance throughout the Tenancy
Labour: the charges of our recommended contractors are £100.00 (inc VAT) for callout & first hour, then £80.00 inc VAT per hour thereafter. This charge includes our cost for arranging initial visits, follow-up quotes/estimates, ensuring access via tenant or keys as necessary and organising the arrangements of the contractor to carry out the work. Please note these rates can be subject to change during the life of the tenancy.
Materials: As necessary for completion of repairs. These are provided at cost, plus a maximum 25% uplift to cover procurement, administration & disposal of redundant appliances as appropriate.
HMO Licensing/Selective Licensing
Fees vary depending on the local borough applicable. There is a fee of £180.00 inc VAT for Prime Land Property to apply for the license on the Landlords behalf.
Other Fees
EPC fee: £80.00 inc VAT
Gas Safety fee: £60.00 inc VAT
Fire Safety Pack: £80.00 inc VAT payable each year
Smoke Alarms: £120.00 inc VAT (where CO2 alarm is purchased at the same time the cost will be £150.00 inc VAT)
Emergency Repair Assistance: £150.00 inc VAT payable each year
Floor Plans: £100.00 inc VAT
Renewal Fee
Agreed as part of the initial contract Negotiation. Contract negotiation, including rent review, amending and updating terms and arranging a further tenancy and agreement.
Deposit Registration Fee: £72.00 inc VAT
- Register landlord and tenant details and protect the security deposit with a government-authorised scheme.
- Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of the start of the tenancy and arrange for the deposit management at the end of the tenancy including negotiation between both parties in order to find a mutual resolution. In the event of a dispute to include management and negotiation with the tenant regarding deductions, provision of evidence to relevant scheme and handling of the outcome.
Deposit Dispute Fee: £300.00 inc VAT
(Fee only chargeable where landlord registers deposit using own scheme) to manage negotiation of deductions from deposit between parties, collation, and provision of
evidence to enable landlord submission and support of claim. Guidance on appropriate deductions for consideration and handling of outcome.
Submission of non-resident Landlords fees to HMRC (Non-Resident Landlord Fee): £90.00 inc VAT per quarter
- To compile and submit the financial return to HMRC quarterly
- Respond to any specific query relating to the return from the landlord or HMRC
- Completion and submission of the Annual return will be arranged where applicable (i.e. Where the landlord
is not NRL approved for receipt of gross rent)
Inspection Visits: £60.00 inc VAT
Attend in order to document the condition of the property – Charge is per visit, and these are conducted quarterly.
Fire Risk Assessment: £300 inc VAT
Carry out a survey by a qualified fire risk assessor to ensure compliance with LACORS regulations.
Inventory Fee
Dependent on the number of bedrooms and/or size of the property and outbuildings.
Professional Cleaning Fee
Dependent on the number of bedrooms and/or size of the property and whether it is carpeted.
Fees for Tenants at Prime Land
Before You Move - No Fees Apply
- Holding Deposit: Prior to entering into a tenancy agreement, a holding deposit will be required. This deposit is calculated as one week’s rent based on the total agreed rent for the property. It will be held until the tenancy agreement is formalized, or for up to 15 calendar days. Please note that the holding deposit may be forfeited under specific circumstances, such as a failed Right to Rent check, provision of false or misleading information, or failure to enter into a tenancy agreement. Should a tenancy agreement be established, the holding deposit will be credited towards the first month’s rent.
- Deposit: For Assured Shorthold Tenancies with an annual rent of less than £50,000, a deposit equivalent to 5 weeks’ rent will be required. For properties with an annual rent exceeding £50,000, a deposit equivalent to 6 weeks’ rent will apply.
During Your Tenancy - No Fees Apply
We are committed to providing a hassle-free tenancy experience. Therefore, no fees will be charged during the course of your tenancy.
Ending Your Tenancy in Accordance with Tenancy Terms - No Fees Apply
Rest assured that when the time comes to conclude your tenancy in accordance with the agreed terms, no fees will be incurred.
Optional Services
Should you opt for additional services such as cleaning, we can connect you with our recommended cleaning contractors. Costs for these services may vary based on the size of the property and will be provided upon request.
Other Fees & Charges
As part of our commitment to the Tenant Fees Act 2019, any charges incurred due to tenant breaches will be aligned with the regulations. Please review the following scenarios:
- Lost Keys/Security Fobs: In the event of misplaced keys or security fobs resulting from tenant misuse or negligence, the tenant will be responsible for the cost of replacement.
- Replacement Tenancy Fee (due to tenant breach/early termination): If a tenant requests an early termination of the tenancy and the landlord consents to replace one or more individuals on the contract, the breaching tenants will be responsible for the landlord’s reasonable costs and any resulting losses. These costs include referencing the replacement party and any guarantors, Right to Rent checks, negotiation of surrender terms, inspection/inventory expenses, negotiation of deposit deductions, and the drafting of a new tenancy agreement.
- Payment on Variation of a Tenancy: Any modifications to the tenancy agreement may incur charges. These will be discussed and agreed upon before implementation.
- Unpaid Rent/Returned Payments: In case of rent arrears, the tenant shall pay interest at a rate of 3% above the Bank of England base rate from the due date of the outstanding rent. Charges will apply if payment is delayed beyond 14 days from the due date.
Please be aware that any costs associated with property damage, fixtures, fittings, white goods, or furniture repair will be deducted from the deposit in line with the terms of the tenancy agreement.
If you have any questions or require further clarification regarding our fees, please do not hesitate to reach out. We are here to provide you with all the information you need for a seamless experience.
Fees for Vendors at Prime Land
Vendor Fees
STANDARD AGENCY FEES: (calculated as a percentage of the selling price contractually agreed)
SOLE AGENCY: 2% + VAT (2.4%) Multiple Agency: 2.5% + VAT (3%)
ADDITIONAL SERVICES: Energy Performance Certificates: £80.00 inc VAT
We work with a panel of preferred Suppliers that would be able to assist you with additional services including:
- Financial Services
- Solicitors for Conveyancing
- Surveys
Please note, depending on the service and supplier selected, should you wish to use them, a fee may be due to Prime Land Property from the supplier (details of which are available on request). This does not affect the amount of fees you pay in respect of their services, nor does it affect your right to choose services from suppliers of your own providers. All fees unless otherwise stated are inclusive of VAT.
Fees for Purchasers at Prime Land
Purchaser Fees
Prime Land Property can support purchasers in the buying process through our panel of recommended suppliers.
- Full legal/ conveyancing services
- Surveys
- Mortgages & Financial Advisors
Details of appropriate suppliers from our recommended panel can be provided on request. Please note, depending on the service and supplier selected, should you wish to use them, a fee may be due to Prime Land Property from the supplier (details of which are available on request). This does not affect the amount of fees you pay in respect of their services, nor does it affect your right to choose services from suppliers of your own. All fees unless otherwise stated are inclusive of VAT.
