Tenant Fees
When you decide to rent a home, you need to budget for the monthly rent and household bills as well as a holding deposit and a deposit when you move in.
All fees include VAT where applicable.
Holding deposit
When you find a property that you like, the agent may ask you to pay a holding deposit in order to process your application. The amount of this payment will form part of the total deposit if your application is successful.
When the tenancy starts, you will be asked to pay the balance of the deposit + less any holding deposit paid already. The value of the deposit will be equal to at least one month’s rent.
This payment must be in cleared funds to enable the tenancy to commence.
+ A deposit is a sum of money taken to be held as security for the performance of the agreement and can be used against any costs or damages at the end of your tenancy as detailed in your agreement.
Guarantor
If you are a student, are unemployed or on a low income, you will need a guarantor. We will need to carry out reference checks on the guarantor. There is no fee for this service.
The guarantor will be asked to read your tenancy agreement and sign a guarantor agreement before the tenancy starts.
Renewal Charge
There is no fee for renewing a tenancy.
Late Payment of Rent
We reserve the right to charge a fee for chasing any rents that are received more than fourteen days late from the due date.
Early release from tenancy
If you want to leave the property before the end of the tenancy, the landlord may agree to this, but may ask you to continue to pay the rent and all household bills until the date a new tenant moves in or your tenancy comes to a natural end, whichever is the sooner. You may also be asked to pay reasonable costs in re-letting the property.
Mortgage references
We are normally pleased to provide a reference for the above purpose. To cover our costs in administration we may charge a fee for this service.
Check out
If we are unable to complete the agreed Check Out appointment due to unreasonable delays by you on the day of the appointment, the rent is payable until the day you move out of the property and surrender the keys.
Overpayment of rent
An arrangement fee is charged to cover administration costs.
Our tenant fees are as follows:
| Charge (inclusive of VAT where applicable) | |
|---|---|
| Holding deposit | 1 week’s rent |
| Renewal Charge | £0.00 |
| Late payment of rent | 3% above the Bank of England base rate for any late rent payments 14 days or more late. This interest will be charged after 14 days but will be charged on arrears from the due date. |
| Early Release from Tenancy | Landlord’s costs for re letting the property |
| Mortgage reference | £0.00 |
| Payments to change a tenancy agreement eg. change of sharer | capped at £50 or, if higher, any reasonable costs |
We hold Client Money Protection through Propertymark. To view our certificate, please see below.
We are also a member of The Property Ombudsman, which is a redress scheme.
