Fees & Regulatory info
Please note: from 1 June 2019, the Tenant Fees Act 2019 will come into effect. We are in the process of amending our fees. When available, details of our new fees will appear at the bottom of this page prior to 1 June 2019, and will replace the content of this page after 1 June 2019.
The following page sets out our standard fees and charges, and further regulatory information.
Payable by Tenants
In the case of each of the following fees, the fee relates to and is payable by each tenant within a dwelling-house/ HMO/ shared property.
Admin fee: £199 (Always payable at outset of tenancy)
Covers all of the administrative steps of setting up a new tenancy and the check-in procedures. Including, tenant referencing, incoming inventory report, producing contract and other documentation required at outset of tenancy.
Checkout fee: £90 (Always payable at end of tenancy)
Covers all of the administrative steps of ending a tenancy and the check-out procedures. Including, outgoing inventory and damages report.
Early check-out fee: £300 (May be payable, if elected by tenant)
This may be payable it the tenant wishes to terminate their rental agreement and check-out of the property before the end of the minimum rental period. An early check-out may be allowed at Pisoria’s discretion.
Flexible check-out fee: £90 (May be payable, if elected by tenant)
If the tenant wishes to check-out from the property on a day other than the final day of their rental contract. If a replacement tenant has been found, any period covered by the new tenant will be refunded. A flexible check-out may be allowed at Pisoria’s discretion.
Late payment fees: £25 (Payable in case of arrears or late rent payment)
Charged for each day on which reminder administration is required, to cover the reasonable costs of undertaking reminders or chasing for late payment via letters, emails, or phone calls.
GoCardless failure fees: £50 PCM (Payable in case tenant fails to use a GoCardless account for payment of rent by direct debit)
GoCardless is the online system used to collect rent via a direct debit (www.gocardless.com). This fee will apply monthly if the tenant has not provided proper authorisation for the use of GoCardless within 1 month of their contract start date, until authorisation has been provided. This covers the reasonable additional costs of monitoring and chasing rent collection, and the increase chance or arrears in the absence of an automated direct debit system.
Payable by Landlords
Please note that all Lettings and Property Management Services are provided by 5dProperty Ltd, which is a group company of Pisoria Ltd.
Fees shown below are our standard fees. Following a meeting to fully understand your needs and circumstances, we may be able to suggest improved alternatives.
Let Only: 5% for live-in landlords, 5% where the whole property is let on an AST basis, 7.5% where the property is let room-by-room/ HMO
Let & Rent: 5% for live-in landlords, 7.5% where the whole property is let on an AST basis, 10% where the property is let room-by-room/ HMO
Fully Managed: 10% for live-in landlords, 12.5% where the whole property is let on an AST basis, 15% where the property is let room-by-room/ HMO
Short-Stay (<3m): 15% for live-in landlords, 25% where the whole property is let, 30% where the property is let room-by-room
Guaranteed Rent: We may also be able to offer a Guaranteed Rent service. The level of guaranteed rent that we are able to offer must be determined following a full detailed inspection of the property.
All fees are calculated with reference to the amount of monthly rent actually collected from tenants, and are subject to VAT at 20%.
Note: Pisoria Ltd provides property management services as a Landlord for properties within its own portfolio.
Lettings and Property Management services provided to 3rd party landlords are provided by 5dProperty Ltd.
The same high standards always apply.
Pisoria Ltd is a member of the Property Redress Scheme, with membership number PRS013306. Pisoria Ltd is a member of Client Money Protect, a government approved Client Money Protection Membership Scheme, with membership number CMP003937.
5dProperty Ltd is a member of the Property Redress Scheme, with membership number PRS001269. 5dProperty Ltd is a member of Client Money Protect, a government approved Client Money Protection Membership Scheme, with membership number CMP003931.