Letting Fees

(a) New Lettings:  

Ten per cent of the first year's rent payable under the Tenancy Agreement, payable in advance upon exchange of Tenancy Agreements or upon commencement of occupation, whichever is the sooner. Fees for shorter periods are pro rata, also payable in advance. Tenancy agreement fees of £150 apply for the preparation or renewal of tenancy agreements.

(b) Renewals:

In the event that the same Tenants or Occupiers remain in occupation of the property beyond the first year, the rate of letting fees for second and subsequent years reduces to an additional seven and a half per cent of the annual rent payable. Such Renewal Fees become payable upon the anniversary date of commencement of the tenancy. Fees for shorter renewal periods are pro rata.

Management Fees:

Amery Scott's Management Service includes collection of the rent (including sending rent reminders to tenants by email, text messages or by phone) and administration of Tenants’ deposits, which are promptly passed on to be held by the Deposit Protection Service. 

The service includes general liaison with tenants and landlords and with block managing agents and local authorities.  The service includes dealing with tenants’ fault reporting and general queries from tenants and landlords in person or by phone, email, text and messaging. 

The service includes payment of and accounting for income and expenditure on behalf of clients and for property inspection visits to ensure that the tenants and property are keeping the property correctly under the terms of the tenancy agreement.

Reporting to clients includes periodic reporting of income and expenditure and annual tax year accounting to clients but excluding liaison with tax authorities and accountants beyond sending the income and expenditure reports and basic queries that arise. 

Charges for ‘background’ management are five per cent of the annual rent (or rental value if vacant) payable by quarterly instalments in advance.

Tenancy agreement fees for new tenancies or renewals and modifications to existing tenancies (such as occupier substitutions) are £175.

The organisation and supervision of maintenance repairs and property improvement work and for the furnishing and equipping of properties for rental or sale is available and is charged at 12.5% of the maintenance / improvement expenditure cost (including VAT) and is normally charged at the time of the expenditure.   

Amery Scott’s management service specifically excludes dealing with HMO Licensing of any sort for which additional fees will be quoted, normally for liaison with and employment of specialists in HMO licensing.

Fees for completing conveyancing sale forms in respect of properties being sold or in preparation for sale are £250 per property.

Formal tenant credit referencing and the preparation of professional floor plans are available upon client request at additional cost.

Attendance upon a client's behalf at resident association meetings is not included but may be available at additional cost.

Giving access to contractors and dealing with third party suppliers shall be at modest additional cost.

A maintenance 'float' (normally of £500 minimum) per property is required for general maintenance expenditure and is 'topped up' normally on a monthly basis from rents or from additional client funding upon request to the client for larger works such as refurbishment and letting/sale preparation.

Acquisition Fees:

Two per cent of the total acquisition price of the acquired property, including chattels, payable upon completion of purchase or within four weeks of exchange of purchase contracts on the property, whichever is the sooner.

For selling a property we charge two per cent of the sale price achieved, including chattels, where we are the Sole Agents OR three per cent where we are instructed jointly with other agents. Fees are payable upon completion of sale or within four weeks of exchange of sale contracts on the property, whichever is the sooner. The apportionment of the costs of brochures and other advertising will be agreed with the client at the time of the property is marketed for sale.

Fees upon Sale to a Tenant or Occupier:

In the event of the purchase occurring of a client's property by a current or past Tenant or Occupier or other person or entity introduced directly or indirectly by Amery Scott in the course of our duties as Letting, Managing or Acquisition Agents, the usual sole agency sale fees as #4 above will become payable to Amery Scott whether or not Amery Scott are involved in negotiations for sale.

Fees upon Sale of Tenanted Property:

In the event that a client's property is sold other than through Amery Scott but with the benefit of a Tenant or Occupier introduced by Amery Scott, then an Agency Termination Fee of one per cent of the sale price shall be payable upon completion of sale or within four weeks of exchange of contracts on the property, whichever is the sooner.

Refurbishment, Maintenance & Furnishing Fees:

Amery Scott charge Refurbishment, Maintenance and Furnishing Fees of 12.5% of the expenditure in respect of organising the refurbishment, preparation, maintenance, improvement or alteration of clients' property, payable at the time of the completion of such works or in stage payments during the process of such work at Amery Scott's discretion.

Courier Charges:

Amery Scott reserve the right to pass on to the client the cost of any courier costs.

Value Added Tax:

In all cases the fees quoted exclude V.A.T. which shall be additionally payable at the prevailing rate at the time of the fee invoice. Please note that non-UK residents are not exempted for V.A.T. upon services performed in the U.K. in respect of property in the U.K.

Variation of Fee Terms:

Please note that unless varied with Amery Scott's written consent, the fee structures set out will at all times govern the fee terms upon which a client instructs or otherwise employs or engages Amery Scott as an Acquisition, Selling, Letting or Managing Agent.

Legal Liability Limitation:

The legal liability of Amery Scott and of their shareholders, partners, directors, agents and employees for damages or other remedies for any loss or damage to the client (or others claiming under the client) howsoever caused as a result of any breach of duty or as a result or error or due to any act of commission or omission on the part of Amery Scott or Amery Scott's shareholders, partners, directors, agents or employees (whether negligent or not) shall be strictly limited to the extent of Amery Scott's fees otherwise payable for the part of the process in which such act or error occurred.

Court Appearances:

Court appearances in connection with a client will be charged at £250 per hour for an Amery Scott partner or director and £75 per hour for other staff members, including waiting and travel time from Amery Scott’s Chelsea offices.

Termination of Agency:

Termination by a Client of Amery Scott's employment as Acquisition, Selling, Letting or Managing Agent shall have no effect upon a Client's liability to pay Renewal Letting Fees nor in respect of Fees upon Sale.  Such termination shall not alter retrospectively the terms and conditions between Agent and Client as contained in this text or such modifications of the above terms as may have been made by previous written agreement between the parties. Termination of Amery Scott's employment as Managing Agents shall be by three months' written notice unless such termination is co-terminous with the termination date of the current tenancy of the property in question.

Insurance:

Amery Scott do not directly arrange insurance nor process insurance claims. When Amery Scott agree to be involved in any insurance administration, charges for work related to insurance claims on an ad hoc basis will be made.

Nomenclature:

Amery Scott and Amery Scott & Co. are the trading names of Amery Scott Management Ltd. For the purposes of fees and terms, the name 'Amery Scott' should be taken also to include Amery Scott & Co., Amery Scott Management Ltd. and associated entities bearing the name Amery Scott, Amery Scott & Co. and variations.