We take pride in providing our tenants with all the information relevant to the costs that will be incurred whilst applying for a new home.
Once you have found your perfect home, you will need to start the application process.
As of the 1st June there are no upfront administration fees payable by prospective tenants.
We will ask tenants to complete a reference application form for the following;
- Identity, immigration and visa confirmation
- Financial credit checks
- Obtaining references from current or previous employers/landlords and any other relevant Information to assess affordability
- Guarantor referencing if necessary
Other Permitted Costs
Holding Deposit – Equivalent to approximately 1 weeks rent
This deposit will be held until a tenancy agreement is signed unless other arrangements have been made. If the tenant withdraws from the agreement or gives false or misleading information the deposit will be forfeited. If the tenant does not abide by the agreement deadline the holding deposit will be forfeited. If the agent or landlord withdraws from the agreement the holding deposit will be refunded to the tenant.
At the start of your tenancy
You will need to pay a deposit equivalent to approximately 5 weeks rent into our client account. We will also require 1 month’s rent in advance. Both amounts must be showing as cleared funds before you sign the tenancy agreement and before we can release the keys.
There will be no access to any property until a contract has been signed and funds are cleared.
The deposit will be lodged in a government approved scheme. As long as the terms of the tenancy are adhered to, the deposit will be returned in accordance with the DPS terms and conditions.
During your tenancy
The additional costs that you will be responsible for during you tenancy are as follows:
- Utilities (gas, electricity, and water)
- Council Tax
- TV license
- Insurance (for your personal contents)
Variation of Contract Charge
A variation of contract charge of £50.00 inclusive of VAT is payable if the tenant requires a change to the existing tenancy agreement. This may be for adding an additional tenant or adding a pet to the agreement, should the landlord agree to the changes.
Breaking Fixed Term Agreement
If in the unlikely event that during the course of the tenancy there is a need for the tenants to leave the property through no fault of the landlord, and therefore break any fixed term agreement, then the tenants will bear the cost of re-letting the property on behalf of the landlord as well as the rent up to and including the day before any new tenant starts a new contract. The fee for this will be £250.00 plus VAT for an unmanaged property or £150.00 plus VAT for a managed property.
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 (eg fob, electronic device for garage doors security gates).
Getting your deposit back
It is a legal requirement for all Letting Agents to register their tenants deposit with a regulated government approved scheme. We use the Deposit Protection Scheme (DPS) which is a custodial scheme.
Once a tenant has vacated the property and returned the keys to our office, we will inspect it on the next working day. If the property has been left clean and tidy and in its original state with all the carpets professionally cleaned, you will receive you deposit back via the DPS. You will need to log onto their website and enter the bank details that you wish the funds to be returned to.
If there are damages or further cleaning, gardening or repairs that are required to the property, deductions will be made to your deposit. We will let you know about any deductions within 10 days of you vacating the property but it is usually much sooner than this.
For further information regarding the Deposit Protection Scheme, visit www.depositprotection.com