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.
Before the Tenancy
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
The Independent Redress Scheme is provided by the TPOs (The Property Ombudsman)
Client Money Protection (CMP) is provided by ARLA
Mundys are regulated by the RICS
Variation of Fees Charged to Tenants
Fees charged to Tenants may be charged on a different basis for properties at Riverside Drive or Friars Mews, Lincoln in accordance with the requirements of the Landlord / Housing organisation. Fees charged at these sites will be as shown below. If you are unsure if these fees will apply to a property that you are interested in, please ask a member of our Lettings Team.
Referencing & Administration Fees
Referencing & Administration Fee – £100 plus VAT (£120 inc VAT) for the first Applicant and £50 plus VAT (£60 inc VAT) for each additional applicant, up to a maximum of 3 joint Applicants.
The Referencing and Administration fees are charged on all applications to cover the costs associated with taking up references, preliminary paperwork and administrative tasks associated with the application and the preparation of tenancy agreements. The fee is payable at the point that a property is reserved or held for you.
Guarantor Fee (where applicable) – £50 plus VAT (£60 inc VAT)
The guarantor fee is associated with processing the referencing and paperwork relating to the guarantor.
Holding Deposit – £200 (VAT not Payable).
A Holding Deposit is payable in addition to Referencing & Application Fees (above) at the completion of an application form. The property will be reserved for you when the holding deposit is paid. The holding deposit is taken subject to contract and by default will be put forward to your first month’s rent. However this will be forfeit if the applicant withdraws the application, fails the credit reference, is unable to provide suitable referees or guarantor within the agreed period.
Before & During Your Tenancy
Tenancy Inventory – £105 plus VAT (£126 inc VAT).
The costs associated with inventories are shared 50% between the Landlord and Tenant and is inclusive of the Inventory preparation, check in, and check out. This is payable at the start of your Tenancy.
Late Rent Payments – Interest charges of 4% above the Barclays Bank base rate from the rent due date.
Tenancy Reference – £25 plus VAT (£30 inc VAT).
A fee charged for the preparation of the Tenancy reference.
Tenancy Renewal – £50 plus VAT (£60 inc VAT).
A contribution to the administration costs associated with the tenancy renewal and related document preparation.