Fees: To Tenants

FEES: TO TENANTS (VAT is not applicable)

BEFORE YOU MOVE IN:

Holding Deposit:

Up to one week's rent 

• We may take an initial holding deposit to reserve a property, while reference checks and preparations for a tenancy agreement are undertaken, the amount will be calculated as (monthly rent x 12) ÷ 52.

Tenancy Deposit:

Up to five weeks' rent

• This is a refundable payment that provides the landlord with security if the tenant causes damage to a property, does not return it in its original condition, does not pay the rent or breaks the terms of the tenancy agreement, the amount will be quoted in the property advertisement, or will be calculated as 5 x ((monthly rent x 12) ÷ 52).

Tenancy Set up:

FREE – no fee to Tenant, only Landlord pays a fee

• Referencing each tenant (identity checks, right to rent checks, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability)
• Preparation of the Shorthold Tenancy Agreement
• Setting up of a Bank Standing Order Mandate for the rent collection

Guarantor Fee:

FREE – no fee to Tenant, only Landlord pays a fee

• For guarantor (if required): identity checks, financial credit checks, obtaining reference, and preparing a Deed of Guarantee as part of the Tenancy Agreement

Accompanied Check In:

FREE – there is no fee to Landlord or Tenant

• Attend on the move in day, check the inventory and the tenancy agreement with the tenants, obtain signatures, and hand over the keys
• Reading of gas, electricity and water meters
• Explaining how appliances, heating system and safety features work, including smoke/heat/CO alarms and demonstration that these are working at the start of the tenancy
• Show locations of emergency stops (gas, electricity and water)
• Confirm the recycling and refuse collection arrangements
• Notification of change of occupier to the relevant suppliers and local council for all utility services into the property and council tax purposes

DURING YOUR TENANCY:

Renew Tenancy Agreement:

FREE – no fee to Tenant, only Landlord pays a fee

• Arranging a further tenancy and agreement
• Contract negotiation, amending and updating terms

Change to Tenancy Agreement:

Up to £50.00 where the change is requested by the tenant

• Making any change to the tenancy agreement after it has been signed to enable, for example: -
  • pets to be kept in the property
  • a change of sharer in a joint tenancy
  • permission to sub-let
  • permission for a business to be run from the property
  • any other amendment which alters the obligations of the agreement 

ENDING YOUR TENANCY:

Check Out & Deposit Return:

FREE – no fee to Landlord or Tenant

• We will serve the necessary notices & carry out a final inspection on the day of departure, checking of the inventory & reading of utility meters
• Agree with tenant the check out date and time of appointment
• Negotiate with landlord and tenant any disbursement of the security deposit
• Process the return of the deposit via Deposit Protection Service
• Instruct contractors; obtain quotes; organise repairs /replacement/cost of any broken or missing items

Future Landlord Reference:

FREE – no fee to Landlord or Tenant

• Collating and preparing a reference for a future landlord or letting agent

OTHER FEES AND CHARGES:

Late Payment Reminder Letter:

£10.00 per letter sent

• You will have to pay our reasonable costs for sending reminder letters regarding a late or missing payment of rent or other charges, these will be £10.00 for each reminder letter sent, however, from 1 June 2019, for new tenancies, this fee will not apply; where a tenancy agreement was entered into before 1 June 2019, we may still charge this fee, where it was agreed to in the tenancy agreement, until 31 May 2020.

Returned Bank Transactions:

£15.00 per returned bank transaction

• You will have to pay our reasonable costs for any cheque that does not clear or any unpaid direct debit or debit- or credit- card or standing-order payment, these costs will be £15.00 each time this happens, however, from 1 June 2019, for new tenancies, this fee will not apply; and where a tenancy agreement was entered into before 1 June 2019, we may still charge this fee, where it was agreed to in the tenancy agreement, until 31 May 2020.

Interest on Late Rent Payment:

3% above base rate for each day payment has been outstanding

• If you owe rent, you will have to pay interest on this amount from the date that it should have been paid. The interest rate will be 3% above the Bank of England’s base rate. This default fee will be charged for late payment of rent where the rent payment has been outstanding for 14 days or more from the date set out in the tenancy agreement. 

Deposit Registration:

FREE – no fee to Tenant, only Landlord pays a fee

• Collection of a security deposit from the tenant, which is held against any dilapidation of the property, and submission of the deposit to The Deposit Protection Service www.depositprotection.com
• Provide the tenant(s) with the Deposit Receipt and Prescribed Information within 30 days of receiving the deposit.

Lost keys/security devices:

££.££ costs of replacement 

• The tenant is responsible for ensuring that they look after the keys for the property throughout the tenancy. If they fail to do so, they will be responsible for covering the reasonable costs of replacement.

IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK