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Cost Summary

The costs of the work we are proposing for both innovative PRS service lines are summarised below;

  1. PRS Current arrears and evictions service with conditional fee agreement (minimising costs exposure to you)
  2. PRS aged rent arrears (tenant departed) collection – non statute barred debts. Providing added value through free legal advice

Costs and disbursement Summary

  1. PRS current arrears and evictions service with conditional fee agreement

The fees applied within this process are capped and can be found detailed within the Conditional Fee Agreement (CFA). Any charges incurred will not exceed the capped fees detailed within this document. Our differential fee structure enables us to recover fees from the tenant in most cases, at our usual hourly rate as specified within the CFA.

Should payment of overdue rent be received following service of notice but before the issue of a claim, we will charge a fixed rate as detailed within the Conditional Fee Agreement. We will seek to recover this sum in addition to the rent from the defaulting tenant and will include this cost within our letter. This allows us to offer full recovery at potentially no cost to our client, providing recovery is made including 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 CFA.  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.

Defended Claims

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 spent on a case.

  1. PRS aged rent arrears (tenant departed) collection – non-statute barred debts.

You may wish to instruct us on aged debts (rent arrears) you have acquired on existing PRS portfolios. These may have previously been written off by the previous incumbent without any attempt to collect them. We are able to act on a no recovery no fee basis for this potential income stream for a period of 6 years before the debts become statute barred.

For more information please contact us here or contact Faye Craggs on 0333 0 300 200 or email at fc@slcsolicitors.com

Faye Craggs
Head of PRS/Solicitor
  • Phone: 0333 0300 200
  • Email: fc@slcsolicitors.com
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