Tenants – Once you have viewed a property and agreed an Application in principal, the payment of an Application Referencing Fee(s) are required to hold the property whilst references are completed to include obtaining references from current or previous employers and landlords and a full credit check, contract negotiation. This fee is non-returnable once referencing is commenced.
FEES CHARGED TO TENANTS ARE SUBJECT TO CHANGE IN ACCORDANCE WITH THE TENANT FEES ACT 2019, EFFECTIVE FROM THE 1ST JUNE 2019.
Tenant Fees Schedule
New Assured Shorthold Tenancies (AST’s) signed on or after 1st June 2019.
One weeks rent (per Tenancy). This is to reserve a property. Please note: this will be withheld if any relevant person (including guarantor(s)) withdraw from a tenancy, fail a right to rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/ or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Five weeks rent (per Tenancy). This covers damages or defaults on the part of the tenant during the tenancy.
Interest at 3% above the Bank of England Base Rate from the Rent Due date until paid in order to pursue non-payment of rent. Please note: This will not be levied until the rent is more than 14 days in arrears.
Lost Keys or Security Devices
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual cost of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred a charge of £15 per hour (inc VAT) for the time taken replacing lost keys or other security device(s).
Variation of Contract
£50 (inc VAT) per agreed variation. To cover the costs associated with taking landlord’s instruction as well as the preparation and execution of new legal documents. (Tenant Request).
Change of Sharer
£50 (inc VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord’s instructions, new tenant referencing and ‘Right to Rent’ checks, deposit registration as well as the preparation and execution of new legal documents. (Tenant Request).
Charges would apply in the vent that the Tenant wished to leave their contract early. Charges equal to the re-letting costs of the Landlord, in addition to all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy. (Tenant Request).
New Assured Shorthold Tenancies (AST’s) signed on or before 31st May 2019.
Individual application fee £100 inc VAT per person (aged over 18 years).
Holds the property subject to the receipt of successful references and covers the cost of the referencing completed. Is non-refundable if referencing commences / failed.
Guarantor Reference Fee £60 (Where Applicable, £30 second / additional guarantors).
No additional administration fees are raised for the production of guarantor agreements.
Company Application Fee £150 inc VAT.
Payable where the Occupier of the property/ Tenant is a Company, Group or organisation.
Tenancy Move in Fee £150 inc VAT.
An administration charge to Tenant to contribute to the costs of the organisation and handling of sign up appointments, creation of tenancy agreement and tenancy inventory (where applicable), check in appointments, check out appointments and future Landlord / agency reference.
Room Lets £75 inc VAT (Referencing & administration fee)
One FREE Guarantor and NO Move-in Fee
During the Tenancy / Other Charges
Tenancy Renewal £60 inc VAT.
Contract negotiations, amending terms and arranging a further tenancy and agreement.
Missed inspection £35 inc VAT.
Payable when access if not permitted to a property when appropriate notice has been issued.
Tenant action resulting in agent out of hours £30 inc VAT.
Where actions of the tenant results in the agent (or nominated contractor) attending the property.
Lost Security Items £10 inc VAT, plus item cost.
Obtaining necessary permissions, sourcing providers and travel costs
Early Release Fee £360 inc VAT.
To cover/ contribute to the Landlord’s re-letting costs where a Tenant wishes to leave their contract only (Tenant request). This fee is payable in addition to all rent due until the commencement of a replacement tenancy.
IF YOU HAVE ANY QUESTIONS OR QUERIES IN RELATION TO FEES THAT ARE CHARGES TO TENANTS, PLEASE SPEAK TO A MEMBER OF OUR LETTINGS TEAM.
CLIENT MONEY PROTECTION;
Royal Institution of Charter Surveyors (RICS) – www.rics.org
The Property Ombudsman (TPO) – www.tpos.co.uk