Oscar Knight
Oscar Knight

020 3909 0888

property@oscarknight.co.uk

Landlord Guide and Costs

Like most of our landlords, you'll have peace of mind in the knowledge that someone is available 24 hours a day, seven days a week to handle any property maintenance or emergency issues which may arise. This is especially important if you are too busy or live too far away to deal with such issues yourself. Either way, knowing that you won’t get a call at 3am about a plumbing problem is a wonderful thing.  
 
We take our responsibilities to our landlords seriously. As a property company offering a professional service, we work hard to ensure we retain reliable, happy tenants who pay rent regularly, and respect your property. A part of this means looking after their needs.

 

Our property management team will make sure your property is well-looked after. They will also make sure your tenants are familiar with everything there is to know about your property, while handling any day-to-day issues and are experienced at resolving any complex issues that may arise.  

We’ve established a network of trusted local contractors who, because of the volume of work we supply them, carry out any work promptly, to a high-quality standard, and for a fair fee.


No Hidden Fees

We understand that one of the things that irritate landlords is a constant string of unforeseen fees! With Oscar Knight, the fees we quote are the fees you pay. No additional ‘agreement fee’, fees for drawing up the tenancy, check in/out fees, inventory fees, overseas admin fees – they’re all included in our simple fee structure:

  • Managed properties: 15.6% (13% + VAT) plus £500 float for minor maintenance
  • Let only: 9.6% (8% + VAT)

Any other optional extras are listed here:

 

Gold Standard ServiceProperty Management Service
Arrange energy performance certificate (EPC)optional: £84 inc vat
Professional photography & floorplan??
Extensive marketing on our own website, on Rightmove, Zoopla & Primelocation??
Accompany viewings??
Provide regular feedback??
Informal, no-obligation “meet the tenants” approval meeting??
Extensive reference checks including affordability & credit checks & credit score??
Prepare tenancy agreement??
Take advance rent & deposit??
Prepare inventory??
Check-in tenant??
Gas safety check??
Standing order set up for rental payments, Direct card debit for managed properties??
Gas, electricity, water & council tax notified??
Register tenant’s depositoptional at £30 inc vat (we will do this automatically for you if we don’t receive confirmation from you that you have done so)
Review rent annually ?
Ongoing customer support ?
Collect rent – pay you by BACS ?
Monthly e-statements ?
Handle any maintenance and repairs ?
Manage repairs with tenants and contractors ?
Administer overseas tax (NRL Scheme) ?
Arrange annual gas checksReminder sent to landlord£120 inc vat
Deal with Block Management companies on your behalf; pay service charges, ground rent ?
Dedicated management team is the only point of contact for tenants ?
Regular property inspections using thorough 50-point check-list ?
End of tenancy check out ?

 

Renewal fees
Unlike some agents, we’re upfront about our costs for renewing a tenancy (when existing tenants decide to stay beyond the initial term of the tenancy).

And unlike some agents, who charge the initial rental fee all over again, we charge just 4.8% (4% + VAT).

Example: a tenancy of £1000pcm, renewed for 12 months, costs just £480 + VAT = £576.

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Tenancy Information

 

            

New Assured Shorthold Tenancies (ASTs) signed on or after 1 June 2019

Property Reservation payment (per tenancy) — £225.00
This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right-to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security Deposit (per tenancy. Rent under £50,000 per year) — Five weeks’ rent
This covers damages or defaults on the part of the tenant during the tenancy.

Security Deposit (per tenancy. Rent of £50,000 or over per year) — Six weeks’ rent
This covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15.00 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Existing Assured Shorthold Tenancies (ASTs) And All Assured Tenancies

During Your Tenancy

Renewal Fees (Tenant’s Share): £0.00 (inc. VAT) per tenancy
Contract negotiation, amending and updating terms and arranging for the signing of a further tenancy agreement.

Variation of Contract Fees: £50.00 (inc. VAT) per request.
To cover the costs associated with taking landlord’s instructions as well as the preparation and execution of new legal documents.

Change of Sharer Fee: £50.00 (inc. VAT) per replacement tenant.
To cover the costs associated with taking landlord’s instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Ending Your Tenancy

Early Termination: £50.00 (inc. VAT) per tenancy plus all rent due under the tenancy until the start date of the replacement tenancy. Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

Management of the property
At the start of the tenancy we will advise you who is responsible for managing the property. This is not always Oscar Knight. Where we are not managing the property we cannot authorise any repairs or maintenance, or guarantee the speed at which repairs will be carried out. Where we are managing the property, we may have to obtain the landlord's consent before proceeding with a repair.

Where we manage a property and hold keys, we can usually provide access to Oscar Knight’s contractors (with your permission). However, where we do not hold keys or the contractor is not willing to collect keys, it is your responsibility to provide access.

Insurance
It is your responsibility to insure your own belongings throughout the tenancy. Oscar Knight highly recommend that all tenants take out some form of contents insurance to protect their belongings - TVs and gadgets, food in the freezer and the clothes in your wardrobe. When applying for a Tenancy tenants may be contacted by one of our Insurance partners for a free, no obligation quote. 

Utilities
You will be responsible for the payment of telephone, gas, water and electricity accounts at the property during your tenancy, as well as the council tax. It is your responsibility to notify the relevant companies and the local authority that you are moving into/out of the property. You are also responsible for ensuring that a valid television licence remains in place for the duration of the tenancy. Utility companies will also always require the occupant to provide access for any visit.

Taxation
If you pay rent directly to your landlord's bank account and your landlord is resident overseas, you will be responsible for applying the provisions of the HM Revenue and Customs Non-Resident Landlords scheme for taxing UK rental income and should ask us for advice on this. These provisions do not apply where you are paying your rent to Oscar Knight.

Anti-Money Laundering Regulations
Oscar Knight is subject to the Money Laundering Regulations 2007. As a result we will need to ask you for suitable identification, and will be unable to proceed with any work on your behalf if we are unable to obtain this from you.

VAT
All charges levied by Oscar Knight are subject to VAT at the prevailing rate of 20%.

Complaints procedure
If you are dissatisfied with Oscar Knight’s service or handling of a transaction, and you are unable to resolve this with the member of staff involved, you should put your concerns in writing to the Branch Manager of the branch you deal with:

Southfields – 258 Wimbledon Park Road, Southfields SW19 6NL
Wandsworth – 138 Wandsworth High Street, London SW18 4JJ

(a) The grievance will be acknowledged within three working days and then investigated and replied to within fifteen days. If we require longer than this timescale we will advise you in writing and confirm our revised response date.
(b) If you remain dissatisfied with the result of the internal investigation, please email clientcare@oscarknight.co.uk 
(c) You will be sent an acknowledgement letter; your complaint will then be reviewed.
(d) A full investigation will take place and a letter will be sent confirming our final view point within twenty-one days of the acknowledgement letter.
(e) In the unlikely event that you remain dissatisfied with the final view point of your complaint, you can refer the matter to The Property Ombudsman within six months from the date of our final letter, they will review your complaint and advise of their decision. (They can be contacted at www.tpos.co.uk) For the avoidance of doubt, TPO will only review complaints made by consumers.

Amendments
Oscar Knight reserves the right to change the schedule of fees and these terms of business upon providing reasonable notice in writing.

 

Oscar Knight Estate Agents is a member of the UKALA Client Money Protection Scheme, and also a member of the Property Ombudsman, which is a redress scheme. More details can be found at or by contacting your local branch directly.