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Landlords

Professional Information for Landlords to Rent Your Property in South West London

Whether you’re renting out your first property or you’re an experienced landlord, partnering with a professional and reliable letting agent will make the whole process run smoothly. Palace Gate Lettings are a trusted choice when it comes to letting out your house or flat.

We work with landlords all over South West London from our four offices based in Battersea, Balham, Earlsfield and Clapham. Our friendly team cover all postcodes in this area including lettings in Clapham Junction, Clapham Common, Brixton, Fulham, Furzedown, Putney, Southfields, Streatham, Stockwell, Tooting, Wandsworth and Wimbledon. We cover a comprehensive portfolio of properties in these areas and have extensive knowledge of the local market.

A Letting Service You Can Rely On

Here at Palace Gate Lettings, our aim has always been to provide an efficient, reliable and personalised service since we opened our first lettings office in Clapham in 1993. Our team will always go that extra mile to look after your individual requirements and give you the best service possible. We give landlords the confidence and trust that their property will be marketed to its maximum potential and managed to the highest standards.

Palace Gate aren’t just a faceless letting agent who you’ll never hear from. We place importance on building excellent working relationships with all of our landlords and hope to work with you for years to come.

Information for Landlords on Fees

Palace Gate Lettings charge a set of standard fees to all landlords, which covers our extensive and fully managed letting service. If you have any question on our fees, please do not hesitate to contact us and speak to a member of our staff.

  • Letting Only service (tenant finding, collection of initial months’ rent and deposit, deduct for any pre tenancy invoices, negotiate renewals and prepare extension notices) – 10% plus VAT (12% inc VAT) of the annual rent achieved payable six monthly in advance.

  • Letting & Rent Collection service (collect, remit monthly rent and provide statements, advise on rent arrears action) – 12% plus VAT (14.4% inc VAT) of the monthly rent achieved payable monthly.

  • Letting, Rent Collection & Management service (includes arranging routine repairs, inspections twice a year, holding keys throughout tenancy, advising on deposit return deductions, if any) – 15% plus VAT (18% inc VAT) of the monthly rent achieved payable monthly.

As a brief overview, our fees are as follows:

The above fees become due once tenants are found and are payable for the duration of the tenancy, including any renewal or extension of the tenancy to the same tenants or any new tenant introduced by the original tenants. We would be happy to discuss individual landlords’ requirements which we will be able to reflect in our fees if appropriate.

In addition, there are other charges that Palace Gate Lettings makes in respect to other aspects of the letting service. These are as follows:

  • Preparing the Tenancy Agreement – £90.00 payable only at the start of the tenancy agreement.

  • Where a deposit is held by Palace Gate Lettings for the duration of the tenancy, then the deposit will be registered with the TDS who are a Government approved deposit protection scheme. The charge for registering the deposit is £60.00 per annum for as long as the deposit is held and registered with the scheme.

  • Energy Performance Certificates (EPC) are required for all properties to be rented out and Landlords are responsible for the cost of having an EPC carried out. The approximate cost is £60.00.

  • Inventories are required for all tenancies in order for the both the landlord and the tenant to be able to handle the deposit fairly at the end of the tenancy. Without any full record in respect to the condition of the property at the start and the end of the tenancy it would be difficult to make deductions (if any) from the deposit without adequate proof of damage (if any). The cost of the inventory is split between the parties with the landlord initially paying to have an inventory prepared and thereafter to have the check in paid by the tenant and the check-out paid by the landlord. Costs depend according to the size of the property. Inventories are carried out by independent companies and individuals who can be instructed by Palace Gate Lettings to act on your behalf.

  • Palace Gate Lettings will also make charges during a tenancy where the company is required to wait in at a property. This is charged at £60.00 per hour.

  • Palace Gate Lettings charge a fee of 10% plus VAT (12% inc VAT) of the overall net costs on all major maintenance issues where the cost of works exceeds £1,000.00. The same charge is also applicable where we have been instructed by the landlord to carry out major works or a refurbishment programme on a property.

  • Where landlords are non UK residents, Palace Gate lettings are required to retain tax from the rent collected and to submit quarterly non-resident receipts/ payments to the HMRC – a charge of £48.00 is payable per quarter. Where Palace Gate have approval from HMRC to pay rent without any deduction of tax, this fee will not be charged.

  • Court Attendance: a fee of £72.00 per hour is payable per person for any court attendance required.

Please note that this is a brief breakdown of all cost and that our Terms & Conditions outlines our fees and service in full, including details of the landlord’s responsibilities. We will be happy to provide a copy.

Other charges for services such as gas safety, electrical testing, gardening and professional cleaning may also apply depending on each landlord’s requirements and would be carried out by independent contractors. Quotes for each service can be obtained prior to organising any works.

Start Renting Your Property in South West London Today

If you’re looking to rent your property out and are in need of professional help, take the next step by contacting us today. With letting agents in Battersea, Balham, Clapham and Earlsfield, we can easily arrange a lettings appraisal and offer you friendly advice and guidance on the whole process. Give us a call, or use our quick and simple contact form.

Palace Gate Lettings is a Licensed Member of ARLA ( www.arla.co.uk ) and holds Client Money Protection (CMP) provided by ARLA. Palace Gate Lettings is also a member of The Property Ombudsman who are an approved independent redress scheme.

For more information, the Government have produced a leaflet entitled “How To Rent” that Landlords and Tenants may find useful. It can be found at www.gov.uk/government/publications/how-to-rent