To help you work out the fees and charges that may apply to your application for tenancy we’ve put together the following FAQ’s. In the event you require further information or assistance please do not hesitate to contact us by email: email@example.com
Please be aware your tenancy may be subject to any of the following fees:
Subject to final approval from the landlord, a prospective tenant, or tenants if jointly and severally liable, is required to earn a multiple of 2.5 x the annual rent
For example: (The following criteria is a guide only, we appreciate that everyone’s circumstances are different
A weekly rent of £300 equals a total annual rent of £15600 (£300 x 52 weeks)
In this instance, a prospective sole/single occupant tenant would need to earn a gross salary of £39000 (£15600 x 2.5)
If, as a sole tenant you earn less than the required amount you will be required to provide a guarantor. If this applies to you, and to avoid delays in any application for a tenancy, you should provide details of your guarantor when you make an offer.
Subject to contract, the majority of rental payments are to be paid on a per calendar month basis, in advance,
The Holding Monies held are usually equal to two weeks rent.
Holding Monies are taken to reserve your offer on the property. The property may still be marketed until such time as your references have been received and tenancy agreements are signed, however this money is taken to show your intention to proceed with the tenancy and we will not offer the tenancy to anyone else whilst we are waiting for satisfactory references provided that you supply the information we request promptly. The Agent holds the money whilst references are taken. Should you fail to supply sufficient information in a timely manner to the reference company in order for them to proceed with the reference or should you fail referencing, this money is forfeit. Should your references prove satisfactory the holding monies will be set off against the Security Deposit that will be invoiced at the beginning of the tenancy.
Subject to contract and acceptable references an equivalent of 6 weeks rent will be required before possession of the property is given and in most circumstances before the signing of the Tenancy Agreement. In some situations, such as tenants with pets or adverse credit history, an increased tenancy/security deposit may be required. In any event the tenancy/security deposit will be held for the duration of the tenancy
Tenancy Agreement fee £80 + vat per tenancy term/agreement
Administration + credit & reference check £90 + vat per tenant
Administration + credit & reference check
for Private Income applicants £110 + vat per tenant
A guarantor may be required in the following circumstances:
A guarantor undertakes to be responsible in the event you breach your tenancy
Your guarantor will also be subject to referencing, the charges for each guarantor are as follows:
Guarantor Reference Fees £60.00 plus vat per applicant requiring a guarantor
Deed of Guarantee £25.00 plus vat per applicant requiring a guarantor
As a rule, the tenancy agreement prohibits keeping pets at the property, however, in the event the landlord grants permission, it is usual to hold and extra amount of deposit specifically against damage caused by the pet. This sum is individually negotiated and can vary depending on the property and the pet. It would be wise toallow for an extra two weeks rent to be added to the deposit.
In the event all arrangements are in place there would be an administration cost of £50.00 plus vat for amending the tenancy agreement and invoice and for rescheduling Check In arrangements
The cost of inventory services for the Check Out (when you leave the property) is charged to the tenant but costs for preparing the Inventory plus Check In services are paid by the landlord. Typical Check Out charges are shown below. Actual costs may vary and will depend upon property and location. More accurate details can be provided once property selection is confirmed.
|Studio/1 bed||Furnished or unfurnished||£60 - £75 + vat|
|2 bed||£70 - £85 + vat|
|3 bed||£95 - £110 + vat|
|4 bed||£130 - £145 + vat|