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MCS Fee Structure 2017

A. PROPERTY MANAGEMENT 
(FULL SERVICE)

1. To take over the management of a pre tenanted rental property we charge no up front fees, just an ongoing management fee of 10% of the gross monthly rent.

2. An additional 1% is added for the management of student properties.

Our Management fee includes:

Providing an intermediary service between landlord and tenants
Tenants welcome letter
Monthly collection of rent via bank transfer to MCS account
Monthly transfer of funds to landlords nominated bank account within 5 working days of receipt
Emergency and non emergency contact numbers for tenants
Project management of maintenance work (maximum limit of £2500 per year applies)
Ensuring compliance with legal requirements (including Smoke Detector and CO Detector regulations, annual landlords Gas Safety Certificate and Energy Performance Certificate where appropriate)**
Liaison with landlords and tenants to arrange new or ongoing tenancy terms

3. Tenancy renewals will be charged to landlords at an additional £75 (represents 50% of the total fee, the remaining 50% to be paid by the tenant)

Notes:
* Management of additional maintenance above the annual limit is charged at a rate of 15% of the total cost of works. **

Additional costs may apply if new certificates are required

B. PROPERTY MANAGEMENT (RENT COLLECTED BY OTHERS)

1.To take over the management of a pre tenanted rental property where we are not required to collect rents we charge no up front fees, just an ongoing management fee of 8% of the gross monthly rent.

2. An additional 1% is added for the management of student properties

Our Management fee includes:

Providing an intermediary service between landlord and tenants
Tenants welcome letter
Emergency and non emergency contact numbers for tenants
Project management of planned maintenance work (maximum limit of £2500 per year applies)*
Ensuring compliance with legal requirements (including annual landlords Gas Safety Certificate and Energy Performance Certificate where appropriate)**
Liaison with landlords and tenants to arrange tenancy renewals


Notes:
* Management of additional maintenance above the annual limit is charged at a rate of 15% of the total cost of works. ** Additional costs may apply if new certificates are required

C. PROPERTY MANAGEMENT (RENT COLLECTION ONLY)

To provide a rent collection service for a pre tenanted rental property where we are not required to provide property management we charge no up front fees just an ongoing fee of 4% of the gross monthly rent.

Our Rent Collection fee includes:

Monthly collection of rent via bank transfer to MCS account
Monthly transfer of funds to landlords nominated bank account within 5 working days of receipt

D. TENANT FINDING

MCS provide a comprehensive service designed to source the best possible tenants for your property. We will be with you to provide a complete package from initial property assessment to your new tenants moving in day.

Fees for this service are charged at 75% of the first months rent. Our service includes:

Marketing the property for rental on the main internet property portals
Dealing with all enquiries and assessing suitability of applicants
Arranging and overseeing comprehensive tenant reference checks
Preparation of Assured Shorthold Tenancy agreement (or other agreement type if applicable)
Collection of deposit and initial rent payment
Set up of ongoing rent payment plan
Deposit holding service through government approved scheme

In addition we offer the following enhancements to this service:

Professional photography package: £250
Full colour floorplans: From £75
Accompanied viewings: Dependant on location, please enquire
Digital inventory / schedule of condition: Dependant on size of property, please enquire


Please see our Tenant Finding page for further information.

E. PROPERTY SOURCING

MCS can provide invaluable assistance to buyers looking for a specific type of property across a range of locations. This service is often of benefit to buyers from overseas or outside the local area, or for those faced with a wide variety of choice and little time to spare. We would typically begin this process with a scoping meeting to fully understand the clients needs and requirements, then quickly follow this up by liaising with local estate agents, private sellers or real estate companies within the chosen area. We carry out extensive research to establish realistic price guidelines and to eliminate overpriced or unsuitable properties. Once we have narrowed the search to a small selection we would arrange viewings and accompany the client (where possible) to visit each potential property. Once a final selection is made we remain available to assist with all negotiations and to ensure a successful completion.

MCS Property Sourcing is charged at £3,500, 1% of the purchase price, or 15% of our negotiated discount from the marketing price, whichever is the greater. This service is intended to save you both time and money and we will negotiate on your behalf (if required) to obtain the best possible deal on any property.

Our property sourcing service includes...

Sourcing a suitable property to individual requirements including local area research, property viewings and detailed feedback
Providing relevant local area information and comparisons
Negotiations with vendors or their agents to achieve the best possible purchase price
Purchase assistance (to include introduction to independent mortgage broker, property surveyors and recommended solicitors if required)
Personal assistance via telephone and e-mail during the buying process
Project Management of initial remedial work to the property if required (charged at additional 15% of cost of works)
Ensuring compliance with legal requirements on rental properties (including Landlords Gas Safety Certificate and Energy Performance Certificate where appropriate)
Liaison with utility companies and local councils to ensure correct billing of services

F. PROPERTY SALES

Our fee for arranging a property sale is 1.5% of the eventual sale price. Please see our Property Sales page for full details of this service.

G. FEES CHARGED TO TENANTS

We make the following charges to tenants before, during or at the end of a tenancy period.

Referencing fee in advance of tenancy: £75.00 per adult named on the tenancy agreement
Tenancy administration fee in advance of tenancy: £180.00 (This covers tenancy set up, deposit and rent payment handling, and production of the tenancy agreement).
Renewal of a tenancy agreement: £75.00 (represents 50% of the total fee, the remaining 50% to be paid by the landlord)
Fees for the production of an inventory and schedule of condition may also be payable at the start or end of a tenancy. Inventories are designed to assist in the protection of both landlords and tenants by creating an accurate snapshot of a property at the start or end of a tenancy and costs are therefore generally shared between both parties. Fees will vary according to the size of the property, please ask for details.
We charge tenants a fee of £25.00 if during a tenancy we need to make written contact (letter or e-mail) in cases where rent has not been received or there has been any other breach of the tenancy agreement

H. OTHER SERVICES

MCS is a bespoke property company and we are able to offer other services by arrangement. Please contact us for further details.

Please note: The above information is provided as an overview of our fees and further detailed information will be provided in all contracts that we produce. We do not currently charge VAT but this is subject to UK HMRC regulations and may change. Please check with us for confirmation of current rates