Refundable Holding deposit - Capped at 1 weeks rent
Security Deposit - Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000
Rent - The agreed monthly rent
Changes to tenancy - Capped at £50 inc VAT
Early termination charge - Not exceeding the landlord’s financial losses
Late payment of rent - Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue
Replacement keys - Reasonable costs or give the tenant the option to purchase themselves
Utilities, council tax, communication services, TV Licence etc - Tenants own responsibility unless otherwise stated in contract
Introduction & Tenancy Service - 10% Incl VAT (8% + VAT)
Rent Collection Service (inclusive of above service) – 12% Incl VAT (10% + VAT)
Comprehensive Property Management Service (inclusive of above services) – 16.8% Inc VAT (14% plus VAT)
Short Term Let Service - 24% Inc VAT (20% plus VAT)
£300 + VAT set up cost for Let Only, Rent Collection and Fully Managed services
One mid-term inspection for each 12 month tenancy (managed only of course)
Any additional inspections would be charged at £100 + VAT.
£250 float should be kept at all times for any managed properties.
As New Space client, you’ll experience the same service levels offered by big players, but at much lower cost. This means high-quality marketing, a polished and streamlined process for finding tenants, and support from an experienced and dependable property management team.
Our property management service is the best in the area. Your tenants will have great online systems for reporting tasks and paying rent, and you’ll have access to trusted local tradesmen who charge reasonable rates. Our rent accounting is on the money and our arrears rate is close to zero.
Residential management and lettings are our core business. So we focus all our effort on doing them well. We’ve been in the market for nearly 10 years. Today, we’re relied on by both private and commercial landlords, who value our experience and reliability.
Deal with real people rather than a corporate machine. Richard, our branch manager, will meet with you to provide a valuation, then stay involved throughout the letting. All of our lettings negotiators are invested in our ethos of personal service: it’s why we’ve mostly grown through word of mouth.
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