Let Only Fee: One month’s rent
Full Management Fee: £250
Monthly Management Fee: 9%
Full picture inventory at start & end of tenancy (free of charge if managed): £75
Tenancy Renewal: £50
Mid-term Inspection (free of charge if managed): £25
The Tenancy Deposit Protection Scheme
Under the provisions of the Housing Act 2004 every landlord or letting agent that takes a deposit for an Assured Short-hold Tenancy in England and Wales must join a Tenancy Deposit Scheme. The new regulations came into effect from April 6, 2007. The purpose of this regulation is to ensure good practice. The secondary purpose of the new regulations is to try and keep disputes between landlords and tenants out of the courts by encouraging Alternative Dispute Resolution.
In November 2006, three companies were awarded contracts by The Government to run Tenancy Deposit Schemes:
- The Deposit Protection Service (The DPS)
Insurance backed schemes
- Tenancy Deposit Solutions Ltd (TDSL), now trading as My Deposits.
- The Tenancy Deposit Scheme (TDS)