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Tenant Fees Ban: Clean up your costs this Spring with Limestone

Limestone Sales & Lettings Office Manager Paul Neale talks about the upcoming changes that Limestone are putting place for Landlords over Spring.

As Spring approaches it is synonymous with change and new beginnings. Many people embark on a ‘Spring clean’, which often means an increase in dusting, cleaning around the house, but what about tidying your finances?

In our 25 years’ experience within the local property market, we have learned what best to offer to our Landlords. At Limestone, we currently offer a wide range of landlord services to help landlords manage every aspect of the tenancy lifecycle, however, we have recently revised our services to offer landlords greater flexibility and choice.

As of 1st June 2019, the Tenants Fee Act comes into force, which bans tenants letting fees in the private rented sector and sets a cap on tenancy deposits in England. Our understanding is that many agents will pass the fees that they have been traditionally charging to tenants onto Landlords. Here at Limestone, we are committed to NOT passing this cost on and you can be assured that all of our fees are upfront and transparent.

For any new managed tenancy, our charges to the Landlord will be as follows:

  • £350 + VAT – One off admin fee charged at the start of a new tenancy to a new tenant. No renewal fees to the Landlord.
  • 10% monthly commission from the rent collected.

In accordance with this restructured approach, our historic ‘Tenant Find Service’ will no longer exist as a ‘fixed service’. Any Landlord will be able to choose exactly what they want us to do based on our Tenant Find Price List that includes factors such as:

  • Internet advertising and viewings
  • Right to rent and identity verification checks
  • Moving tenant into the property
  • Informing utility companies of new tenant and meter readings and much more

Prices will start from £360 Inc. VAT

Full details of our Tenant Find Price List can be downloaded here.

With all of these exciting changes going on, why not get in touch with us and see how we can help you to manage your tenancy.

For more tips like these and to get the best price for your property, contact the team on 01908 234 111 or email us at info@limestonemk.co.uk