Residential Lettings Fees

LANDLORDS

Letting Only Service

Lambert & Foster charge a single fee equivalent to one month's rent + VAT.

A charge of £50 + VAT is payable to hold the deposit in the Tenancy Deposit Scheme.

The costs for preparing an inventory are listed below. 

 

 

 

Unfurnished

 

Furnished

 

1 Bedroom

£70.00 + VAT

£100.00 + VAT

2 bedrooms

£80.00 + VAT

£110.00 + VAT

3 Bedrooms

£90.00 + VAT

£120.00 + VAT

4 Bedrooms

£100.00 + VAT

£130.00 + VAT

5+ Bedrooms

£110.00 + VAT

£140.00 + VAT

Let And Rent Collect

An initial fee equivalent to 75% of one month's rent + VAT is charged. This is followed, from month two, by a monthly fee of 6% + VAT of the gross rental. This will be deducted in advance on receipt of rent. The preparation of an inventory is included. A charge of £50 + VAT is payable to hold the deposit in the Tenancy Deposit Scheme.

Full Management Service 

An initial fee equivalent to 75% of one month's rent + VAT is charged. This is followed, from month two, by a monthly fee of 10% + VAT of the gross rental. This will be deducted in advance on receipt of rent. The preparation of an inventory is included. A charge of £50 + VAT is payable to hold the deposit in the Tenancy Deposit Scheme. Lambert & Foster will carry out quarterly inspections of the property, report to the landlord and perform a check out of the property when the tenants vacate. 

Preparation of an additional tenancy agreement - £150 + VAT

Management of Tenancy Deposit Disputes are charged at £75 per hour. 

 

TENANTS 

Lambert & Foster charge a one-off administration charge per property of £300. Occasionally, if Guarantors are required, we may charge another £30 per Guarantor. This fee covers the cost of referencing the prospective tenants and drawing up the tenancy agreement.

Tenants are not charged for drawing up inventories, this cost is covered by the Landlord.

Most properties will require a deposit and this is usually equivalent to six week’s rent. Occasionally, this may be more if a tenant is keeping a pet at the property. The deposit will be returned to the tenant after the tenancy comes to an end, provided the property is left in a satisfactory condition.

Rent is paid a month in advance. Occasionally, if we are unable to reference the prospective tenant (for example if the tenant is coming from abroad and isn’t going immediately to permanent employment) it may be necessary for the rent of the whole tenancy term to be paid in advance.

Monthly rent is calculated as weekly rent x52 divided by 12.


Accreditations

We are members of the Association of Residential Lettings Agents, the professional regulatory body for letting agents.  As a licensed ARLA member we conform to their Code of Practice which covers specific processes, procedures, obligations and responsibilities in key areas.