What tenant fees will I pay?
Relevant Letting Fees and Tenant Information
To apply for the Tenancy (payable to the Agent):
- Holding Monies: 1 week’s rent (Calculated by the monthly rent divided by 4.35). This payment is offset against the first month’s rent (payable on the day you move in).
Within 15 days of the date of the Holding Deposit Payment (Unless mutually agreed otherwise in writing):
- Tenancy Deposit: 1 month’s rent plus £100
- First Months Rent (as advertised) – minus the holding monies as stated above
During the Tenancy:
As well as paying the rent, you may also be required to make the following payments if you breach the terms of the Tenancy:
- If you pay the rent late, we will charge you interest (the Bank of England’s base rate plus 3% APR) at the point the rent is 7 days late. We will also charge you interest until the date we receive the full payment.
- If we send you a letter because you have broken the agreement (including notification of rent arrears), you must pay the fixed fee of £30.00 plus VAT (£36.00).
- If your bank returns a cheque, you must pay £30.00 plus VAT (£36.00) administration fee.
- Missed appointments – i.e. House inspection, tradespeople pre arranged works etc. – £45.00 plus VAT (£54.00) per visit.
- If your bank returns a Standing order or direct debit unpaid, an administration fee of £30.00 plus VAT (£36.00) for every standing rental order that is returned as unpaid will be charged to your rent account.
- If you do not respond to letters/notices and, as a result, we or our Agent have to visit you at home, we will charge you £60.00 plus VAT (£72.00).
- In the event of the Tenancy going into an arrears situation, we will be exercising our statutory right to claim interest and compensation charges under the Late Payment of Debt Act 1998, as amended and supplemented by the Late Payment of Debt Regulations 2002.
- Lost Keys – A minimum administration fee of £30.00 plus VAT (£36.00) will apply, plus the cost for duplicate keys.
- A £45.00 plus VAT (£54.00) call–out charge per visit will be payable by the Tenant if we are called out to attend to the following:
- To open a bedroom door, front door or back door.
- To unblock a sink, bath or toilet.
- Any call-out which is considered unnecessary. This is at the discretion of the Agent. This decision is final.
In the event that you wish to terminate your Tenancy prior to the expiry/end date of your fixed-term tenancy agreement, this will be subject to your Landlord being in agreement, and you will be fully responsible for all administration and re-advertising charges applicable in securing a new tenant.
The re-advertising and administration charge is equal to 75% of the month’s rent plus VAT and must be paid in full prior to any agreement and/or the re-advertising of the property. You will remain fully liable for all rent, council tax, and utilities, including standing charges and any other charges related to the property, until such time as a suitable replacement tenant is found and takes up occupation of the property. (Please Note: Under no circumstances can the administration and re-advertising charge be deducted from the Deposit held.)
Gas, electric, water rates and council tax must be transferred into the Tenant’s name at the commencement of the Tenancy. We will inform the utility companies of your details, move-in date and opening meter readings (for Managed properties). Please note it is the Tenant’s responsibility to ensure that your utility accounts have been set up correctly and that this is completed.
Monthly Rent Payments
We would like to make all tenants aware that rent will be due by the contract tenancy date every month. Standing orders will need to be set up to ensure this; however, due to banking delays standing order mandates will be set up four days in advance of the rent due date. If you do not wish to set up a standing order, you can pay into our office in cleared funds only. We do not accept cheques or cash for rental payments.
Move-in monies can be paid by bank transfer prior to your move-in day (but only after signing your occupational contract) or cleared funds on the day of move-in. The payment must be in cleared funds prior to your move-in date. Please note if funds are not cleared and confirmed by our accounts team, keys will not be released.
If you have a pet and would like to let one of our properties, this request would need to be declared a special request when reserving the property. It is then the Landlord who will decide to approve or decline your application. If your application is approved, you would be required to pay an additional charge of £200.00. £100.00 is non-refundable and will be used at the end of the Tenancy to fumigate the property. The remainder of £100.00 will be registered with your Deposit and will be released at the end of your tenancy, subject to the terms of your tenancy agreement.
These costs are payable to the Agent if the property is managed by the Agent, or the Landlord if they self-manage.