Set up & Fees
Below are the Rent Assured fees. If you have any queries please reach out to us.
Landlords Fees
| All figures are inclusive of VAT | Tenant Find Only (TFO) | Rent Collect 7.5% | Fully Managed 12% | Fully Managed with Rent Guarantee 14.4% |
|---|---|---|---|---|
| Initial Set Up | One off payment equal to 4 weeks rent + 20% | Initial Set up fee £390 HMOs reduced to £230 per room | Initial Set up fee £390 HMOs reduced to £230 per room | Initial Set up free £390 HMOs reduced to £230 per room |
| Full Referencing Including Right to Rent Checks | ✓ | ✓ | ✓ | ✓ |
| Accompanied Viewings & Advertising on Major Platforms | ✓ | ✓ | ✓ | ✓ |
| Negotiating Terms and Conditions | ✓ | ✓ | ✓ | ✓ |
| Preparing Tenancy Agreement | ✓ | ✓ | ✓ | ✓ |
| Collection of first month rent and registering deposits with the My Deposits or Zero Deposit Scheme | ✓ | ✓ | ✓ | ✓ |
| Compliance Checks and Guidance for your Property | ✓ | ✓ | ✓ | ✓ |
| Negotiating Renewal of Tenancy | ✓ | ✓ | ✓ | |
| Rent Processing & Reconciliation | ✓ | ✓ | ✓ | |
| Chasing Rent Arrears | ✓ | ✓ | ✓ | |
| Checking Tenants in and out of the Property in Person | ✓ | ✓ | ||
| Arranging General Repairs with Local Qualified Trades | ✓ | ✓ | ||
| Dealing with Tenant Queries (24/7) | ✓ | ✓ | ||
| Routine Property Inspections (mid term) includes digital report | ✓ | ✓ | ||
| Recording Metre Readings with Photographic Evidence | ✓ | ✓ | ||
| Continuous Compliancy Checks and Up to Date Advice | ✓ | ✓ | ||
| End of Year Statement | ✓ | ✓ | ||
| Tenant Access to the Award Winning ‘Fixflo’ System | ✓ | ✓ | ||
| No void periods & NHS Guarantor (or rent guarantee service – Additional) | ✓ |
| Additional Services (all figures are inclusive of VAT) | Cost |
|---|---|
| Preparing Inventory of Contents & Schedule of Condition (including full digital report) Check in & Check Out options available | Subject to Quotation (from £100)* |
| Providing furniture for unfurnished rental units (direct contact) | Subject to Quotation |
| Providing Cleaner for Communal Areas in HMO and shared living settings | Subject to Quotation |
| Providing Cleaner for End of Tenancy if required (direct contact) | Subject to Quotation |
| Providing an EPC (using local sourced agent) | £99 |
| Additional visits (for landlords using TFO & RC service) | £75 |
| Arranging Gas Safety Certificate (using locally sourced and qualified tradesperson) | £95 |
| Arranging Electrical Safety Certificate (using locally sourced and qualified tradesperson) | £150 |
| Serving of Notices (Section 8, 13, 21, 47 and 48) | £65 per notice |
| Attending Court on Behalf of Landlord | £330 per day |
| End of Year Statement (for Landlords using TFO & RC service) | £35 |
| Repairs where net cost exceeds £500 | +10% |
| Refurbishment where net cost exceeds £1000 | +10% |
| Full Referencing for Additional Tenants | £40 per tenant |
| Key Cutting – per Key | £30 |
| Renewal Fee – Renewal of AST for existing tenant | £99 |
| Deposits | Cost |
|---|---|
| Holding Deposit | £100 |
| Security Deposit (My Deposit and Zero Deposits scheme options available) | 5 weeks rent |
Deposits are held by Sourced Living and forwarded to My Deposits with signed certificates by Tenant and Landlords. Zero Deposits policies are arranged via the ZP platform.
Holding Deposits are held while processing the referencing – deposits are returned on successful approval of reference checks with Homelet.
| All rent to be paid one month in advance | Cost |
|---|---|
| Notice period for tenant (outside of AST) | 1 month |
| Notice period for Landlord | 3 months |
All monies to be paid to Sourced Living client account and distributed to Landlord minus fees.
Inventory Fees
| Property Details | Inventory Only (Unfurnished) | Inventory Only (Furnished) |
|---|---|---|
| Studio or Individual Room within a HMO | £120 | £155 |
| 1 bedroom | £140 | £170 |
| 2 bedroom | £170 | £200 |
| 3 bedroom | £180 | £210 |
| 4 bedroom | £210 | £235 |
| 5 bedroom | £240 | £265 |
- All Inventories include a digital report with date and time stamped photos.
- Inventories for check in and check out are charged at the same rate
Client testimonial
PH, Landlord at Waterside Taunton
“I am happy to recommend Medi Homes SW as property managers for Waterside Place apartments in Taunton. Both Sara and Nick are professionals in this business, and clearly very experienced in dealing with organisations such as the NHS, landlords such as myself, and tenants.