For landlords and tenants alike, our residential lettings services bring a range of homes available to let, from studio flats to larger houses to tenants across Sussex. We offer a range of packages for landlords and are sure to find a great home for our tenants, whether we handle just the let, or fully manage the tenancy.
We aim to offer the best possible service for landlords and tenants in all kinds of residential properties. We have experience ranging from the simplest of flats to the largest homes, but our dedication is no different between them.
Our belief in the best new systems helps to push forward our service and our ability to meet the fast-paced demands of the modern world.
Our residential properties can be found here, on the Eightfold Property website, as well as on the top known portals, including Rightmove, Zoopla, On The Market and Boomin.
There are no direct fees payable for the setup of a tenancy, but the following costs will apply to new tenancies:
- Holding Deposit
- New tenants will be required to pay no more than one week’s rent to secure a property. This amount will be deducted from the first month’s rent. This balance will be withheld if any tenant (or guarantor) provides false or misleading information, or fails to meet paperwork deadlines as agreed (or within 14 days (whichever is later).
- Tenancy Deposit (five weeks’ rent)
- This amount is held against the tenancy for its duration in order to cover any damage to the property (over and above wear and tear) or defaults in rent.
- Advance Rent
- The first month's rent will be required in advance of the commencement of the tenancy.
- Tenants may be charged £50 (including VAT) for any changes made to the contract after it has been signed, including change of sharer.
- Interest will be applied to any unpaid rent at a rate of 3% above the Base Rate for the Bank of England for the duration of any time the rent remains unpaid. This will be applied to the account in the event a rent payment or portion thereof is 14 days or more in arrears.
- The tenant will be liable to the cost of replacing any keys or security devices, to a maximum of £30 (including VAT) per item. If the loss leads to locks requiring replacement, the tenant will be liable for this replacement and the cutting of required replacement keys, including those for the agent, the landlord, and any further tenants.
- In the event the tenant wishes to end the contract sooner than the end of a fixed term, then the tenant will be required to pay for the landlord's costs in re-letting the property as well as any rent due under the current tenancy until the start date of the new tenancy. These costs will be capped at the total of remaining rent for the existing tenancy.
We aim to be as competitive as possible with our fees, whilst ensuring they are at a level that allows us to provide the best possible service to our clients. Our service is generally in three tiers, but bespoke options are available. If the service you require isn’t listed here, contact our Lettings Team for a bespoke quote!
The costs below are our starting point, but depending on the property, portfolio, or work required, this may change in negotiation with landlord clients.
- Tenant Find Only:
- 50% of the first month’s rent + VAT (60% inc VAT).
- This is our most basic package but involves no less care than the others. We will list the property, find tenants, fully reference them, and prepare all paperwork for the tenancy. Then on move-in, the tenants will be handed the keys and handed over to the landlord for the management of the tenancy.
- Tenant Find and Rent Collection:
- 7% of the monthly rent + VAT (8.4% inc VAT).
- This package includes all of the above, but with an element of continued involvement and support from the Eightfold Team along the way. Throughout the tenancy, we would collect the rent and ensure that the tenancy is conducted correctly. The landlord would remain responsible for the management of the property.
- Full Management:
- 10% of the monthly rent + VAT (12% inc VAT).
- The full monty, this is our most popular package, taking the stress away from our landlords. We would carry out all of the above and also take over the day-to-day management of the property, including regular inspections, and arranging maintenance.
For services other than Tenant Find Only, there is also a £50 + VAT (£60 inc VAT) per tenant set up fee payable by the landlord for the first tenancy.
• Should you wish us to protect and administer the deposit on your behalf, there is also a deposit protection fee of £45 + VAT (£50.40 inc VAT).
• Usual Landlord costs to consider also include annual gas safety certificates, electrical installation condition reports, energy performance certificates, professional photographic inventories and check-out reports, and for certain properties fire protection measures. If you want to know more about this, please get in touch with our Lettings Team.