Quick question regarding rent a property

sugar_plum_2

I pay a service charge on my property. If I was to rent it out do I include the service charge in the rent or as an addition to the rent ??

And estate agents can find the tenants but I manage the property for a one of fee of 1 months rent plus VAT. Is that a flat fee regardless of which estate agenst I use ??

And if they manage the property I pay a set up fee of £300 and they recieve 1% of the profit each month. Is that about right aswell ???:rotfl:

Bargain_Rzl

sugar_plum wrote: »

I pay a service charge on my property. If I was to rent it out do I include the service charge in the rent or as an addition to the rent ??

Not sure about your other questions, but the service charge is basically your responsibility.

Rent is rent. Set the rent at a rate which is appropriate for the market in your area. The responsibility for paying utility bills, council tax and TV licence should lie with the tenant (it will say so in pretty much any standard form of tenancy contract) but the service charge is attached to the property itself, not the tenant's use of it, and therefore lies with you. So does ground rent.

Once you've paid the letting agent's fee, the mortgage, service charge, ground rent, and your income tax on the rent - what's left is all yours

olly300

The owner of the property is liable to pay the service charge NOT the tenant as it is part of your contract (lease) with the freeholder. Just remember to give your freeholder/management company your address.

sugar_plum_2

Thank you olly300