Clear pricing
Fees and permitted payments
Landlord fees and services
This schedule explains the fees payable by landlords for our letting and property management services. All agency fees shown include VAT at the prevailing rate. Third-party charges are explained separately.
Core services
| Service | Fee | How the fee applies |
|---|---|---|
| Tenant Find | Three weeks' rent including VAT | A one-off fee per property for each new tenancy. Calculated as monthly rent × 12 ÷ 52 × 3. Payable when the tenancy agreement is entered into. |
| Fully Managed | From 6.5% including VAT of the gross monthly rent collected | Charged monthly for the period in which Property Smart manages the tenancy. The final management rate depends on the property, tenancy and services required and will be confirmed in writing before instruction. |
Tenant Find includes
- Marketing on the major property portals
- Handling enquiries from prospective tenants
- Viewings, offer management and full tenant referencing
- Right to Rent checks
- Preparation and issue of the tenancy agreement and required tenancy documents
- Deposit registration and issue of the relevant deposit documentation
- Move-in inspection and check-in
- Notification to the relevant utility providers and local authority of the change of occupier
After check-in, responsibility for ongoing management passes back to the landlord unless the Fully Managed service has been selected.
Fully Managed also includes
- Ongoing rent collection and landlord statements
- Tenant and landlord communication and tenancy administration
- Handling maintenance and repair requests and arranging suitable contractors
- Obtaining quotations and landlord approval where applicable
- First inspection approximately four weeks after move-in, followed by quarterly inspections
- Inspection reports with relevant photographs
- Monitoring relevant property and tenancy compliance dates
- Being available to tenants for maintenance issues, including out of hours
Additional agency fees
| Fee | What it covers | Charge |
|---|---|---|
| Management takeover | Reviewing existing tenancy, compliance position, deposit and management records | £0.00 per property |
| Tenancy renewal | Preparing and issuing a replacement or renewal agreement where requested | £75.00 including VAT per property |
| Legal notice administration | Preparing or arranging service of a tenancy-related notice; legal advice is excluded | Free with Management |
| Deposit transfer or amendment | Transferring a deposit or making an agreed scheme amendment | Free with Management |
| Check-out | Coordinating check-out at the end of the tenancy where not included in the selected service | Free with Management |
| Duplicate statement | Providing a replacement copy of a previously issued landlord statement | Free with Management |
| Annual financial summary | Preparing an annual summary in addition to routine landlord statements | £25.00 including VAT per property per annual summary |
| Sale to an introduced tenant | Fee payable if the property is sold to a tenant or occupier introduced by Property Smart, where agreed | 1% including VAT |
Third-party costs
The services below are supplied by third parties. Where a fixed price cannot reasonably be determined in advance, the landlord will receive the supplier's quotation or calculation before the service is instructed, except where urgent action is authorised under the Terms of Business.
| Service | How the cost is calculated |
|---|---|
| Energy Performance Certificate | £65 including VAT |
| Gas safety record | £50 including VAT |
| Electrical Installation Condition Report | £240 including VAT |
| Installing smoke alarms and carbon monoxide alarms | £120 including VAT |
| Property licence | Fee set by the relevant local authority |
| Professional cleaning | Actual supplier cost, based on the work required and supplier quotation |
| Maintenance and repairs | Actual supplier cost, based on the work required and supplier quotation |
| Legal, possession or court services | Actual professional or court cost, confirmed before instruction where practicable |
No significant additional expenditure will be authorised without the landlord's approval, except where Property Smart has authority to act in an emergency under the Landlord Terms of Business.
Sales
From 0.9% including VAT. The written fee and service scope are agreed before instruction and depend on the property and agreed service.
Referral fees and commissions
Property Smart London Ltd does not currently receive referral fees or commissions from third-party suppliers. If this changes, we will disclose the nature and amount of the payment, or how it is calculated, before the relevant service is arranged.
Tenant fees and permitted payments
This schedule explains the payments that may be required from tenants in England. Property Smart does not charge tenants for referencing, inventories, check-in, check-out or routine tenancy administration.
| Permitted payment | Amount | When and how it applies |
|---|---|---|
| Rent | As stated in the tenancy agreement | Rent cannot be requested or accepted before the tenancy agreement is signed by both parties. After signing, no more than one month's rent may be required in advance before the tenancy starts. |
| Holding deposit | No charge | Property Smart does not take a holding deposit. |
| Tenancy deposit | One month's rent | One month's rent where annual rent is below £50,000. The deposit is refundable, subject to the tenancy agreement and permitted deductions. |
| Tenant-requested tenancy change | Up to £50 including VAT | For an agreed change, assignment or novation requested by the tenant. A higher charge may only be made where reasonable costs exceed £50 and written evidence is provided. |
| Lost key or security device | Replacement cost actually incurred | Payable only where permitted by the tenancy agreement and supported by written evidence, such as an invoice or receipt. |
Deposit protection and memberships
Tenancy deposits: Where Property Smart is instructed to protect the deposit, it will be registered with the Deposit Protection Service in accordance with the applicable scheme requirements.
Client Money Protection: Property Smart London Ltd is a member of the Propertymark Client Money Protection Scheme.
Redress: Property Smart London Ltd is a member of the Property Redress Scheme.
Important: A payment is only chargeable where the law permits it and any required term is included in the tenancy agreement. No other tenant fee is payable to Property Smart.