Costs & Compliance

Palmer & Partners pride themselves on offering their clients a transparent business model. The information below outlines the maximum costs our landlords and tenants can expect to pay for the wide variety of services that we offer. Palmer & Partners, will, under certain circumstances, negotiate on these prices to ensure that we are always offering a competitive service which offers value for money.

Tenants: typical costs for tenants are outlined below:

• Rent – before a tenancy commences, the agreed initial rental payment must be received in full and in cleared funds prior to the tenancy commencement date. In most cases this is a sum equal to 1 months’ rent however, if a higher additional payment has been agreed, the higher sum must be received in full.
• Holding Deposit – a sum equal to weeks’ rent is payable to hold your desired property pending references. If you chose to withdraw or if you (or any joint applicant) fail your reference/credit checks, this amount is not refundable to you.
• Deposit – a security deposit equal to 5 weeks’ rent must be received in full and in cleared funds prior to the tenancy commencement date.
• Default Fees – late or unpaid rent will incur default fees. These fees will be payable once the rent is 14 days late and will be equal to an amount of 3% above the Bank of England base rate.

Landlords: our costs to landlords is dependant on the level of service required. The fees quoted below are the maximum costs you can expect to pay.

Introduction Only Service:

• Introduction Only – 83.33% + VAT (100% inclusive of VAT) of the first month’s rent per year of initial tenancy term plus £185.00 + VAT (£222.00 Inc VAT) Tenancy Setup Fee.
• Introduction Only renewal to existing tenant(s) – 40% + VAT (48% inclusive of VAT) of the first month’s rent per year of renewed tenancy.

Full Management Service

• Full Management – 83.33% + VAT (100% inclusive of VAT) of the first month’s rent per year of initial tenancy term plus 10% + VAT (12% inclusive of VAT) of the monthly rent for the duration of the tenancy.
• Full Management renewal to existing tenant(s) – 40% + VAT (48% inclusive of VAT) of the first month’s rent per year of renewed tenancy plus 10% + VAT (12% inclusive of VAT) of the monthly rent for the duration of the tenancy.
• “0 Excess” Rent & Legal Guarantee – 3% + VAT (3.6% inclusive VAT) of the monthly rent for the duration of the Tenancy term. Please note: this can only be provided in addition to our Full Management service.

Compliance 
Palmer & Partners are proud members of the following bodies and redress schemes and protection schemes:

ARLA Propertymark



Client Money Protection - Propertymark Membership Rules & Conduct




The Property Ombudsman (TPO)



Tenancy Deposit Scheme (TDS)




Our Company Registration Details are:

Registered Address: Palmer & Partners Estate Agents Limited, 43, Crouch Street, Colchester, Essex CO3 3EN

Company Registration Number: 5049101 / VAT Number: 839491877