FEES TO: TENANTSBEFORE YOU MOVE IN: Holding Fee:
The holding fee serves to secure the property, take it off the rental market, and cancel any booked viewings in order to commence the referencing process of the applicants. The HF is fully refundable on the move-in date; however, it will not be refunded if the tenant decides not to continue with the let or if he/she fails the referencing process.
Tenancy Set-Up and Referencing Fee: £270 (inc VAT) for 1 applicant, £360 (inc VAT) for 2 applicants, £4540 (inc VAT) for 3 applicants, £550.00 (inc VAT) for 4 applicants – each subsequent applicant £60 (inc VAT) Referencing of all applicants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers/landlords and any other relevant information to assess affordability), contract negotiation (amending and agreeing terms), arranging the tenancy and the agreement, and processing the application, associated paperwork and referencing.
Guarantor Fee: £72 (inc VAT) per Guarantor (if a guarantor is required)Referencing of guarantor (identity, financial credit checks, and obtaining references from current or previous employers) and preparation of Deed of Guarantee as part of the Tenancy Agreement.
Permitted Occupier Fee: £144 (inc VAT) per permitted occupierExplaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy.
Pet Deposit: from £100 per petSome landlords may wish to negotiate a higher deposit in order to allow larger pets or a higher number of pets. A returnable additional security deposit to cover the added risk of property damage. This will be protected with your security deposit in the Deposit Protection Service (DPS) and may be returned at the end of the tenancy. If the deposit required is more than the usual £100 per pet, the amount will be negotiated between tenant and landlord and agreed prior to the tenant paying the holding fee.
DURING YOUR TENANCY:
Renewal Fee: £72 (inc VAT) per propertyContract negotiation, amending terms, and drafting a new fixed term contract for either 6 or 12 months.
Bounced cheque/standing order fee: £24 (inc VAT) per paymentCovers the Agent’s charge from their bank where the tenant has made payment via cheque or standing order which is declined by their bank.
Unpaid Rent: Interest at 5% above HSBC Bank Plc base rate from date due
Rent reminder fee: £24 (inc VAT) per letterApplicable if the tenant fails to pay rent and rent reminder correspondence needs to be sent (when rent is overdue by 3 days or more). This covers the agent’s time in chasing the outstanding rent as well as postage costs.
Out of Hours call out fee: £72 (inc VAT)Where actions of the tenant that do not pertain to maintenance (i.e. being accidentally locked out) require the agent to attend the property outside of working hours (working hours being 9am – 5pm on weekdays and 9am to 12pm on Saturdays)
Tenancy Amendment Fee: £180 (inc VAT) per each new tenantApplicable if one of the existing tenants wishes to vacate the property and have a new tenant or tenants take their place. The fee covers referencing (as detailed above), contract negotiation, and drafting of a new amended tenancy agreement
Early Termination Fee: £400.00 (inc VAT) per propertyIf the Landlord accepts the early termination of a tenancy, the fee will cover the Agent’s marketing of the property, accompanying viewings, the Landlord’s Set-Up Fee for the next tenancy. The fee is refundable if a new tenant cannot be found prior to the original tenancy end date. Rent will continue to be payable until the day a new tenant moves in or the original tenancy end date (whichever is soonest).
Missed contractor visit: Variable per contractor (ranges from £24 to £160 inc VAT)If the tenant fails to be present at a previously arranged contractor visit and this results in a call-out charge from the contractor. The charge will vary depending on the call-out charge from each contractor.
ENDING YOUR TENANCY:
Final inspection Fee: £60 (inc VAT) per property (Tenant’s share)Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposits
Rent refund administration fee: £24 (inc VAT) per paymentTo cover the agent’s costs and time in refunding rent monies when the tenant fails to cancel their standing order at the end of the tenancy