Varosi Estates charge a 5% let only fee out of the contract taken in advance for finding tenants only which includes obtaining full character and work references as well as bank statements; previous landlord references and photo ID with our references carried out by FCC Paragon referencing company. Contracts are also drafted by Varosi Estates and are normally for a minimum of 6 to 12 months accompanied by an inventory report also drafting by Varosi Estates.
The contracts are signed as an Assured Shorthold Tenancy and once the clients have moved into the accommodation the management and maintenance of the property will be the responsibility of the landlord unless Varosi Estates Ltd are instructed to the full management. In accordance with the NAEA rule 1 (1) all deposits received by us should be deposited in statutory client’s accounts. These client’s accounts are not available for the ordinary trading purpose of the firm, in accordance with the NAEA regulations.
Varosi also offers a full management service at a 10% fee taken out of the rent each month with a £500.00 finder’s fee taken in advance. The service includes the above let only service with:
Collection of the rent each month
General Monthly property inspections
Out of hours emergency numbers
Point of contact for any problems
Registering the clients names with all utility providers
Contract renewals and to handle any notices if needed
Re advertising the property when the current tenants wish to leave
All deposits will be protected within our deposit protected account (DPS)
Other Potential Charges
Gas Certificates: £85.00 (1 Year)
Electric Certificates: £140.00 (3 Years)
EPC Certificate: £60.00 (10 Years)
The same one of letting fee is payable again upon the renewal of the tenancy agreement at the end of the fixed term
Landlord Selling Fees
Varosi Estates charge a 1.0% Sole agency fee and a 1.5% Multiple Agency fee to sell a property. Although subject to contract, the usual duration of the seller’s instructions is three months and the termination takes effect immediately on the expiry of the contract. After two months the seller has the right to terminate the contract/instructions without a financial penalty by giving us two week’s notice, all charges are subject to contract and If the vendor is not happy with a 3 month sole agency period than other terms can be negotiated.
In relation to sole agency we need to draw the attention of all our prospective client sellers that there may be a dual fee liability when the seller has previously instructed another agent to sell the same property on a sole agency basis and other related instructions exactly as the 2006 OFT code of practice for residential Estate Agents states.
In relation to money laundering regulations (2007) sellers are asked to provide the agency with a copy of their ID such as a passport or driving license and two copies of current utilities bills before any agreements are signed. In accordance with these regulations these details are kept for five years and a money laundering reporting officer is also appointed by this agency.