Referral Fees for Managed Properties
|
Service |
Company |
Declaration |
Connection to R&R |
Referral Fee |
|
Utility Switching |
Homebox |
We use Homebox to switch utility accounts into the correct names at the start of a tenancy and then back to the landlord again when the tenant vacates. |
None |
We receive £10.00 each time a tenant engages with homebox to assist with the utility switch over. |
|
Trade Contractors |
Various trade contractors e.g. electricians, plumbers, gas engineers etc. |
We recommend landlords who require a contractor to repair, maintain and/or certify their properties to use one of our recommended contractors. |
None |
10% + VAT on all works. |
|
Inventory Clerks |
Various Inventory Clerks |
We recommend landlords who require an inventory report at the start of the tenancy and/or a check-out report at the end of a tenancy to use one of our recommended inventory clerks. |
None |
10% + VAT on all works. |
|
Referencing |
The Lettings Hub |
We use this company to carry out third party referencing on potential tenants. We also use them for rent and legal policies, AML checks including PEP and sanction checks on tenants and landlords. |
None |
We can receive a payment of £100.00 each time a tenant signs up to the Lettings Hub Professional Guarantor Service. |
Shared Commission
|
Service |
Company |
Declaration |
Connection to R&R |
Referral Fee |
|
Other Letting Agents |
Various |
We may have a split commission agreement with various independent letting agents to do the marketing and finding of tenants on our behalf. |
None |
Between 3% - 6% + VAT |
|
Sales Referrals |
Various |
We generally ask for a referral fee from a sales agent if one of our private portfolio landlords wants to sell their property. |
None |
15% + VAT payable upon completion |
|
Agent Referrals |
Various |
We offer a referral fee to any agent that introduces a new client to R&R payable to the introducing agent for the first year’s management fees. This will be paid monthly following the collection of our management fees. |
None |
5% + VAT |
All our recommended service providers are carefully selected to improve the services we offer to you. The referral fees shown are per referral and do not affect the final amount you pay to the service provider. All referral fees are separate from your obligation to pay our own fees or commission, which are subject to VAT.
