The costs of the work we are proposing for both innovative PRS service lines are summarised below;
- PRS Current arrears and evictions service with conditional fee agreement (minimising costs exposure to you)
- PRS aged rent arrears (tenant departed) collection – non statute barred debts. Providing added value through free legal advice
Costs and disbursement Summary
- PRS current arrears and evictions service with conditional fee agreement
The fees are capped fees and the sum invoiced will not exceed the fees set out within the conditional fee agreement. We will have a differential fee structure which will enable us to recover fees from the tenant, where we are able to do so at our usual hourly rates all of which will be specified within the conditional fee agreement.
If we receive payment of the rent due upon service of the relevant notice before the issue of a claim we will charge a fixed rate as detailed in the conditional fee agreement. We shall seek to recover this sum in addition to the rent and will include this cost in our letter so that there will potentially be no cost to you if full recovery of our costs and all other amounts owing takes place at this stage.
We will seek, wherever possible, to recover our costs on a standard hourly rate from the tenant and, where we can do so, any costs invoiced to you will be reimbursed to the extent that they are recovered from the defendant.
Where we cannot recover our contractual costs, for whatever reason, the maximum costs payable by you will be as set out within the conditional fee agreement. Where costs have been awarded by the Court against the tenant we shall continue to seek recovery for a period until the amounts owing become statute barred and reimburse any costs charged to you if we recover such costs from the tenant.
If the matter becomes defended, upon receipt of a defence our hourly rates will apply. We will discuss and agree this with you before charging for any time on a case.
- PRS aged rent arrears (tenant departed) collection – non-statute barred debts.
You may wish to instruct us on aged debts (rent arrears) you may have acquired on existing PRS portfolios in which the previous incumbent decided to write off former arrears without collecting them. In relation to this potential income stream which is recoverable for a period of 6 years before becoming statute barred we are able to act on a no recovery no fee basis.
- Phone: 01743 260126
- Email: firstname.lastname@example.org