Below you can find out details of fees payable by tenants, for what service and when it becomes payable.
Tenancy set up fee – 1st tenant
- What is the tenancy set up fee?
The tenancy set up fee includes the cost of referencing – which will cover checking your credit status, previous employer, current or past landlords, and taking into account any other information to help assess the affordability of your tenancy application. The fee also includes providing a Tenancy Agreement and protecting your security deposit with The Deposit Protection Scheme (DPS).
- When do I pay the tenancy set up fee?
After a viewing and when you have decided to apply for the property. We will provide you with a Tenancy Fee Declaration form which lists the services we provide and the fees that are payable. You will then be asked for your tenancy set up payment.
What other fees may be payable before I can move into the property of my choice?
- Additional Person:
This covers the cost of processing the application and associated paperwork for any additional applicants.
Depending on the outcome from your application from the referencing company, your earnings or overall financial position may require you to provide a Guarantor. This is not uncommon, and means you have someone on your behalf that undergoes credit referencing – to ensure they have sufficient earnings to cover the overall rent commitments in the event that you, as the tenant, are unable to pay your rent. This fee is payable in respect of each Guarantor to cover credit referencing costs and providing a Deed of Guarantee as part of the Tenancy Agreement, which details their obligations as a Guarantor.
During the tenancy, we offer these additional services:
- Tenancy Amendment
May be applicable if a change to the tenancy is required mid term. This may be due to a change in personal circumstances and / or a request to leave the tenancy early is agreed prior to the end of the tenancy agreement (this is subject to Landlord consent).
- Tenancy Renewal/Extension
This is the cost of preparing a new Tenancy Agreement and negotiating with your landlord for a further fixed term tenancy. Extending your tenancy, if agreed by your landlord, gives an assurance of staying in the property for a further fixed period, and avoids the uncertainty of a landlord serving notice at any given time.
- Copy Documents
If you request copy documents (tenancy agreement etc) there will be an admin fee.
- Early Termination
If you leave the tenancy before the initial tenancy term has expired you will incur an admin fee.
- Late Rent Payments
If your rent is late by 5 working days you will be charged an admin fee for following up on the rent payment.
- Reference Requests
If you request a reference to a new agency or credit company or mortgage broker etc we charge an admin fee to provide the reference.
- Cash Payments
We do not take cash payments as we have to account for the source of funds, so payments must be made directly into a bank. If you pay “cash” into our account we incur charges and will pass those charges along.
2% of amount paid
MORE TENANT HELP
We are happy to come meet you at a time and place that is suitable to you, in or out of office hours.