FINANCIAL
Cost of Letting
Here is a list of costs we have identified which you will be responsible for, as a landlord. They are not all essential, some costs may not be necessary and some will vary depending on the size and location of the property.

ONE-OFF COSTS

Mortgage Consent to Let - This is essential if you are letting a property. It can usually cost between £150-£350.

License to sub-let - If applicable this can cost around £200.

Telephone Installation – Let properties must be provided with a working telephone line, costing between £80-£120 for installation.

Professional Cleaning – A typical 2-bedroom property can cost up to £300 for full professional cleaning including carpets, curtains and upholstery.

Key Cutting –A set of keys must be supplied for each tenant as well as 3 sets for Parklane.

Tenancy Agreement – Parklane will make a charge for the preparation of the tenancy agreement. A fee will be made for the renewal of the contract of an existing tenant.

Safety Checks –We can arrange a CORGI registered engineer to carry out a safety check. This will cost in the region of £45 plus VAT

Electric Safety – We can arrange for an electrical safety certificate, which will cost £60 plus VAT.

ONGOING COSTS

Council Tax – If the property is vacant then only 50% is payable by the Landlord for up to 6 months. Charges vary according to the value of the property

Insurance –The property must be insured. This includes the building itself and the contents listed on the inventory.

Service Charge – - If there is a service charge on the property, it is the landlord's responsibility to pay.

Water Rates - These are usually the responsibility of the tenant, unless stated otherwise in the contract.

COST PROTECTION SCHEMES

Legal Protection – A landlord can insure against legal and court fees, should they become necessary.

Rent Protection –It is possible to insure against non-payment of rent.