Contact us today to take advantage of any current introductory offers.

 

Lotus Homes strives to be a dynamic property management and lettings agency dedicated to delivering exceptional service to landlords in Peterborough and its surrounding areas. Our mission is to streamline property management processes, maximise rental income, and minimise landlord stress.

 

Some of our Products & Service’s;

• Tenant Finding:
• Marketing properties
• Conducting viewings and virtual tours
• Screening tenants (credit checks, references, employment verification, Landlord references)
• Negotiating tenancy agreements
• Rent Collection:
• Collecting rent on time
• Remitting rent to landlords promptly
• Chasing up late rent payments
• Negotiating rent increases
• Property Maintenance:
• Responding to tenant maintenance requests promptly
• Arranging and overseeing repairs and property inspections
• Managing contractors and tradespeople
• Inventory Management:
• Conducting thorough property inventories at the start and end of tenancies
• Resolving inventory disputes
• Legal Compliance:
• Ensuring compliance with landlord and tenant legislation
• Dealing with legal issues, such as eviction proceedings

 

Additional Services:

• Rent Guarantee Insurance: Protecting landlords against rent loss due to tenant default
• Financial Reporting: Providing annual statements to landlords for tax purposes
• Property Inspections: Conducting regular property inspections to identify maintenance issues
• Tenant Check-Ins and Check-Outs: Accompanying tenants during move-in and move-out processes 

By offering a comprehensive range of services, Lotus Homes can position itself as a one-stop solution for landlords, providing peace of mind and maximising rental income.

 

SCALE OF CHARGES

An amount payable under a percentage fee will go up or down depending on the agreed rent level. Fixed fees will remain the same regardless of the rent level agreed.

 

1) Introduction Only Service                  £350.00 payable for each letting where the Tenant is introduced through the Agent.

2) Let Only Service                                £750.00 payable for each letting where the Tenant is introduced through the Agent

3) Full Management Service                 10% of the rent received, deducted by the Agent

 

If an applicant who is ready, willing and able to enter into a tenancy is introduced during the Agent’s period of instruction, or as a result of their marketing activity, where the applicant is introduced through the Agent and the Landlord withdraws, the minimum fee that would be payable will be the fee for the Let Only Service, plus other expenses incurred, such as the gas safety check.

 

Additional Charges

New Tenancy Set Up Fee  -                  £450.00 per Property. (this includes; marketing, viewings, tenant referencing, guarantor referencing, tenancy agreement, inventory, Check in, rent statements, annual tax statement).

Rent review                                            £25.00 Service of Section 13 Form 4A Rent Increase Notice 

Notice service (S8)                                £75.00 per Notice    

Void period property inspections           £35.00 (per visit) if not advertised To Let.

Additional property inspections             £50.00 per visit (Over and above annual regular inspection)

Tenancy Amendment fee                      £100.00

Repairs and Works Coordination       Routine maintenance and repair coordination with a total contractor    cost of up to £500 is included within the Full Management Service. 

For works costing £501–£1,000: £50.00

For works exceeding £1,000: £100.00

This fee covers additional contractor liaison, quotation administration, arranging access, landlord/tenant liaison and coordination of the works. Any unusually extensive refurbishment or project-management work will be quoted separately.

 

Land Registry check                              £10.00 (where not provided by the Landlord)

Selective License Application                £100.00

Selective License Holder Fee               £100.00 (overseas landlords only)

Insurance Claim Handling                     £100.00

Deposit Dispute Handling                      £150.00

Existing Tenancy Management Takeover – £150 per property

 

Renters' Rights Act and Regulatory Compliance Fee Schedule

(For upcoming future legislation and compliance)

Renters' Rights Act Information Statement Administration - Where legislation requires the provision of a prescribed Government Information Statement, Tenant Information Sheet, Guide or any replacement statutory information document to tenants before, during or following the commencement of a tenancy, the Agent shall be entitled to prepare, serve, record and retain evidence of service of such documentation on behalf of the Landlord. Fee: £100.00 per tenancy.

The fee shall be payable upon commencement of the tenancy or upon service of any replacement, updated or additional prescribed document required by law during the tenancy term. The Agent shall not be liable for any penalty, restriction on possession proceedings, compensation claim or enforcement action arising from the Landlord's instructions, failure to provide information, or failure to comply with statutory requirements relating to prescribed information.

Private Rented Sector Database Administration - Where permitted by the relevant legislation, regulations and Government database, the Agent may assist with the registration and/or administration of the Landlord's property on the Private Rented Sector Database, including collating and uploading property and compliance information. Where the Landlord is required personally to create an account, verify their identity, make declarations, register or pay the Government registration fee, the Landlord shall remain responsible for completing those steps. The Agent's administration fee will apply to any subsequent administration, uploading or maintenance of property and compliance information undertaken on the Landlord's behalf. Fee: £75.00 per property registration. Annual renewal or amendment:Fee: £50.00

Landlord Ombudsman Administration - Handling complaints, gathering evidence, preparing responses and liaising with the Ombudsman. Fee: £95.00 per complaint. Where extensive correspondence or hearings are required: Fee: £50.00 per hour

Damp, Mould and Awaab's Law Case Management - Management of Local Council reported damp, mould or housing condition issues including: arranging inspections; obtaining quotations; contractor liaison; tenant communications; monitoring remedial works; compliance reporting. Fee: £125.00 per case

Enforcement Notice Administration (including Damp, Mould & Awaab’s Law) - Management of improvement notices, hazard awareness notices, local authority investigations, enforcement correspondence or housing standard compliance matters. Fee: £125 per matter. Plus: Additional time: £95.00 per hour

Tribunal, Court or Hearing Attendance - Attendance by the Agent or a representative of the Agent at: Ombudsman hearings; First-tier Tribunal proceedings; Local authority meetings; Court hearings. Fee: £150.00 per hour. Plus travel expenses if applicable.

 

Where legislation, statutory guidance, government schemes or regulatory requirements are introduced after the commencement of this Agreement which create new duties, registration requirements, reporting obligations, complaint handling procedures, inspection requirements or compliance responsibilities, the Agent may charge a reasonable administration fee for carrying out such services on behalf of the Landlord. Such fees shall be notified to the Landlord in advance wherever reasonably practicable.

 

Value Added Tax (VAT) will not be added to the above fee’s at this time (subject to change).

 

In the event of cancellation during a tenancy, the minimum fee payable will be worked out as follows: 

a. The let only fee, if no management has been undertaken. 

b. The appropriate daily rate of the management fee, subject to the minimum of the Let Only Service fee, if the total paid for management has not already exceeded this amount. 

c. In all cases, in addition to the above, any expenses incurred, such as gas safety checks etc.

 

 

OTHER INCOME

 

Referral Fee Disclosure

 

We do not receive or request referral fees.

 

 

 

To find out more please contact us today, or why not request a free, no obligation, valuation of your property.