Property
Management
At Oakwood we understand that property management can be a time consuming and stressful task.
Therefore, we want to ensure peace of mind for our clients that their investments are being effectively managed and are in a safe pair of hands. Our strict tenant referencing, and due diligence procedures will allow the best results possible when letting and re letting your managed property.
As part of our property management service, we undertake frequent management inspections of any tenanted properties and will provide reports & advice to landlords on the back of these. Our extensive and thorough property management service is a popular choice for landlords because we can help achieve the best results for your investment.
RESIDENTIAL PROPERTY MANAGEMENT – LANDLORDS’ FEES
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Let Only |
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One months’ rent plus 20% including VAT (e.g. if the agreed rent is £600.00 the fee payable will be £720.00) |
Minimum fee £540.00 including VAT
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Full Management |
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Letting: 75% of one months’ rent including VAT (e.g. if the agreed rent for the property is £600, the fee will be £450)
PLUS Ongoing management: 12% of rent collected including VAT (e.g. if the agreed rent for the property is £600 per month, the management fee will be £72 per month) |
Letting fee is based on the Landlord using the ongoing management service for minimum period of 12 months.
Minimum letting fee: £400 including VAT Minimum management fee £50 per month (including VAT) |
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Full Management (When no rent is being paid, for whatever reason) |
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Fee as per above based on rent that falls due under the tenancy agreement or lease. |
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Renewal of Tenancy Documentation – Landlord’s Request |
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£168 including VAT |
Only done at the request of the parties |
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Dealing with Repairs |
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Minor repairs (up to a value of £250): included in management fee
Other repairs: 12% of contractor’s charges incurred |
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Health and Safety Advice |
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General advice: included in management fee
In respect of major repairs and issues: fees to be agreed dependent on the client’s requirements. |
External advice may be required in certain circumstances |
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EPC |
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Prices start from £96.00 including VAT for most residential properties |
Fee depends on property size. This work may be outsourced to an independent contractor. |
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Preparation of Inventory |
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£150 including VAT |
Fee may rise for particularly large properties (5+ bedrooms) |
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Visits During Void Periods |
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£40.00 including VAT per visit |
Only done on the Landlord’s specific instructions |
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Sale to Tenant |
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1.2% including VAT |
This relates to a sale to a tenant (or their immediate family) introduced by the Agent, irrespective of whether the Agent was instrumental in negotiating the sale |
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Legal Support |
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A range of rates apply depending on the personnel involved. Rates range from £96 per hour to £300 per hour plus expenses and disbursements |
Only done on the Landlord’s specific instructions. A fee quote to be provided in advance |
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Solicitors’ Charges |
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Solicitors to provide fee quote |
Where the services of a solicitor are required a fee quote will be provided prior to instruction |
NB – VAT is included in all fees quoted above – all fees correct as at 13 June 2023