How much will it cost to let my property?

The costs involved in letting your property consist of:

Energy Performance Certificate

An EPC must be provided to prospective tenants within 28 days from when the marketing begins. Ask your agent if they can arrange for an EPC to be carried out on your behalf. RS Estate Agents can arrange your EPC for you.

Also, consult this document to learn more about the EPC.

Inventory and check-in report

An inventory and check-in report should be organised before a tenant moves in. The cost depends on property size. Ask your estate agent if they can arrange this on your behalf or provide an estimate.

Estate agent commission

The estate agent’s commission fee is usually payable when a tenant is introduced and enters into an agreement to let the property. This is charged as a percentage of the agreed rental price + VAT at the prevailing rate.

Are there any other marketing costs?

Usually the marketing costs are included in agent’s commission fee. However, discuss with your agent how he plans to advertise your property and if there will be any additional advertising costs.

How do property viewings happen?

Generally, the agent will set the appointments and meet the potential tenants during the opening hours. However, it can happen that the agent could ask you to conduct the viewing. RS Estate Agents works on a very flexible timetable, aiming to accommodate even busiest clients.

If the agent has full access to the property, your presence is not necessary. Also, tenants feel more comfortable when the landlord is not present.

What are the property management costs?

The property management fee will be charged as a percentage of the rental price +VAT and must be paid when the tenant signs the Tenancy Agreement. Familiarize yourself with Agency’s Terms and Conditions. You can find RS Estate Agents T&C here.

How much is the security deposit and what happens to it?

Generally, the security deposit covers 4 to 6 weeks rent and must be paid when the Tenancy Agreement is signed. In the case of an Assured Shorthold Tenancy (AST), the deposit must also be registered with a tenancy deposit protection scheme within 30 days.

All deposits being paid by a tenant for an Assured Shorthold Tenancy are registered with a recognize deposit protection scheme within 30 days guaranteeing that any deposit disputes will be dealt with efficiently.

What is the inventory cost and who is organising this?

Prices vary depending on the size of your property, however, your estate agent should be able to organise an inventory on your behalf.

RS Estate Agents can arrange an inventory for you.