Tenant Fees post 1st June 2019 (please see below)
Tenant Fee Guide
Before the Tenancy/Occupation Contract starts (payable to Northwood Chester Ltd. “the Agent”)
Holding Deposit* The equivalent of 1 week’s rent (per Tenancy/Occupation Contract)
* This may be a non-refundable payment
This fee is non-refundable should you decide not to progress your application/sign your Tenancy/Occupation Contract agreement within 15 Calendar days (unless otherwise mutually agreed) or if you have given false/misleading information on the application form or any applicant fails a Right to Rent check.
It will be returned to you in the event the landlord is unable to proceed
Deposit** The equivalent of 5 weeks rent (per Tenancy/Occupation Contract). This is to cover any damages, dilapidations & defaults on the part of the Tenant/Contract Holder during the Tenancy/Occupation Contract.
During the Tenancy/Occupation Contract (payable to the Agent)
For English Properties:
Payment of interest for the late payment of rent 3% above Bank of England base rate.
For Welsh properties:
Payment of interest for the late payment of rent [to be confirmed before 1st September 2019.]
We hold Client Money Protection through Propertymark. Our Agent number is A6199. We are also a member of The Property Ombudsman, which is a redress scheme.
Fees England & Wales. To see our certificate please see below.
When you decide to rent a home, you need to budget not just for the monthly rent and household bills, but also the initial costs. Your agent will normally ask you to pay a holding deposit in addition to the first months’ rent. A full breakdown of our fees can be found further down this page.
All fees include VAT where applicable.
Holding Deposit*/Security 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.
This payment is non-refundable should you not wish to progress with the application, but will be returned to you in the event the landlord is unable to proceed. When the Tenancy/Occupation Contract starts, you will be asked to pay the balance of the deposit less any holding deposit paid already. The holding deposit will be limited to a maximum of one weeks rent per Tenancy/Occupation Contract and the value of the security deposit will be limited according to the rental value of the property to either 5 or 6 weeks rent.
This payment must be in cleared funds to enable the Tenancy/Occupation Contract to commence.
* The holding deposit may be a non-refundable payment should you not proceed with the Tenancy/Occupation Contract; we reserve the right to retain your holding deposit to meet any reasonable costs or loss of rent whilst the property was withdrawn from the market. This may apply whether you withdraw from the Tenancy/Occupation Contract or are unable to proceed due to adverse references or any application which fails the Right to Rent check.
**A deposit is a sum of money taken to be held as a security for the performance of the agreement and can be used against any costs or damages at the end of your Tenancy/Occupation Contract as detailed in your agreement.
Guarantor
If you are a student, are unemployed or on a low income, you will need a guarantor. A guarantor may also be required if you have not rented before or if your credit worthiness is in question. We will need to carry out reference checks on the guarantor.
The guarantor will be asked to read your Tenancy/Occupation Contract agreement and sign a guarantor agreement before the Tenancy/Occupation Contract starts.
Changes to Tenancy/Occupation Contract Agreement (England Only)
£50 (inc VAT) to cover agent’s costs in contacting landlord, taking landlord instructions & preparation of new contract (if required) & system adjustments. This is for any variation required of the contract or change of sharer if requested by the Tenant/Contract Holder and if agreed by the landlord.
Late Payment of Rent
Payment of interest for the late payment of rent calculated at 3% above the Bank of England base rate.
Early Release from Tenancy/Occupation Contract
If you want to leave the property before the end of the Tenancy/Occupation Contract, 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/Contract Holder moves in or your Tenancy/Occupation Contract comes to a natural end, whichever is the sooner. You may also be asked to pay reasonable costs regarding the landlord’s costs for re-letting the property.
Lost keys or other Security Devices
Tenant/Contract Holders are liable for the actual cost of replacing any lost key(s) or other security devices(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the Tenant/Contract Holder, landlord & any other persons requiring keys will be charged to the Tenant/Contract Holder. A charge of £15.00 (inc VAT) per hour may be made if appropriate, for the time taken replacing any lost keys or security devices.
Other permitted payments
Any other permitted payments not included above, for breaches of contract or under the relevant legislation including contractual damages.
Please note: Should you report a maintenance issue with the property and a contractor is called out and their investigations find that the fault has been caused by the Tenant/Contract Holder/s or any associate of the Tenant/Contract Holder/s or alternatively that no fault exists, any cost for this call out will be the responsibility of the Tenant/Contract Holder/s. Northwood reserve the right to deduct any unpaid monies from the deposit.
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.
Registered Office: Northwood Chester Ltd, 17-19 Lower Bridge Street, Chester, CH1 1RS – 4237364 – VAT Number 253608408
