Explanation of our tenant fees
We are members of The Property Ombudsman redress scheme
We are covered by the ARLA Client Money Protection scheme
We would like to provide clarity of the fees that will become payable should you apply for a tenancy on a property we are marketing as being available to rent and those that could be payable during the tenancy. We believe you should understand these before you make any decision about a property or before you decide to view a property. We set out below what work is involved and how our fees are calculated once your offer has been accepted by your prospective landlord. These fees will be paid in addition to any rent and Deposit that is due under a Tenancy Agreement. Acceptance of any offer will be subject to contract, referencing and Immigration checks.
Referencing and Right to Rent Checks - A check against the credit file and public records of the individual, An Anti-Money Laundering check, Confirmation of employment and salary details, Confirmation of previous tenancy details, Right to Rent checks, reporting the results of all those checks to your prospective landlord to see if your application is acceptable.
Tenancy Agreement - Negotiating and agreeing a tenancy agreement between you and your prospective landlord, including any special clauses or requirements which have been requested, once negotiations are finalised produce final copies for signature. This cost of this is shared between the landlord and tenant.
Inventory Checks - the landlord will pay for the compilation of the inventory, the cost of the Check in and the Check-out at the tenancy end is shared by the landlord and tenant.
Renewal/Extension Agreements - Negotiating and agreeing a tenancy renewal between you and your landlord, including any special clauses or requirements which have been requested, once negotiations are finalised produce final copies for signature. This cost of this is shared between the landlord and tenant, paid for at the time of the renewal.
A deposit equivalent to six weeks rent, (calculated by dividing the annual rent by 52 and multiplying by 6), will be required to be paid at the start of the tenancy. This is subject to referencing.
|Fee||£ Inc. VAT||Explanation|
|Default fee for late payment of rent
||Chargeable from 14 days arrears calculated on the interest at 3% above Bank of England base rate on the late payment of rent for each day that the payment is outstanding.
|Loss of a key or other security device
||Landlords and letting agents can charge a tenant a fee to cover the cost of replacing the lost key or security device (e.g. fob, electronic device for garage doors / security gates).
|Payment on variation, assignment or novation of a tenancy
||When a tenant has requested it, landlords and letting agents can charge to vary, assign or replace a tenancy. Fee charge £50 (including VAT).
|Payment on termination of a tenancy
||Landlords and letting agents can require a tenant to make a payment for an early termination (surrender) of the tenancy agreement at the tenant's request.
|Company application fee
||£100 including VAT
Tenant Fees Act 2019 and Existing Tenancies
Explanation of our tenant fees permitted under the Tenant Fees Act 2019 transitional provisions, where fees are written into existing tenancy agreements. These apply to all tenancy agreements granted or signed and executed before 31st May 2019, and can be charged up until 31st May 2020:
|Fee||£ Inc. VAT||Explanation|
|Negotiating and Agreeing a renewal/ extension to your tenancy (tenant share)
||One off charge for each renewal/extension Negotiating and agreeing a tenancy renewal between you and your landlord, including any special clauses or requirements which have been requested, once negotiations are finalised produce final copies for signature. This cost of this is shared between the landlord and tenant, paid for at the time of the renewal.
|Rent Arrears Letter
||Cost of each rent arrears letter resulting from rent not being paid, remaining unpaid, and requesting payment
|Breach of Tenancy Agreement Letter
||Cost of breach letter resulting from the tenant breaching the tenancy agreement and requesting that the breach be stopped and remedied
|Change of Sharer
||Fee to be paid where a landlord agrees to an existing joint tenant’s request to leave the tenancy and be replaced with a new joint tenant, to include cost of referencing new tenant and replacement tenancy agreement.
|Payment into non UK Bank account
||Fee to be paid to cover the additional cost of making a payment into a non-UK based bank account.
You should be aware that the need for a guarantor may not become apparent until your referencing (including references for any joint tenants) has been completed, therefore any guarantor referencing fee(s) will only become payable should a guarantor be required.
Please ask us to explain these to you, once we know your circumstance and how many tenants are applying for the property you are interested in, we can confirm the fees that could become payable.