When you decide to rent a home, you need to budget not just for the monthly rent and household bills, but also the initial costs. Your agent will normally ask you to pay a deposit and an administration charge in addition to the first months’ rent. A full breakdown of our fees can be found further down this page.
All fees include VAT.
When you find a property that you like, we may ask you to pay a holding deposit in order to process your application, or pay a holding deposit when your application has been approved but before you move into the property. The amount of this payment will be equivalent to one week’s rent and it will form part of the total deposit you will pay before you move into the property. This payment is non-refundable should you not wish to proceed with your application, if your application is successful but you decide not to move into the property, if you fail a Right to Rent check or if you give any false information as part of your application. However, this payment will be returned to you in the event the landlord is unable to proceed. When the tenancy starts, you will be asked to pay the balance of the deposit* less any holding deposit paid already. The value of the total deposit will be equivalent to 5 week’s rent. This payment must be in cleared funds to enable the tenancy to commence.
* A deposit is a sum of money taken to be held as a security for the performance of the agreement and can be used against any costs or damages at the end of your tenancy as detailed in your agreement.
For a company let, we ask you to pay an administration charge of £200 to cover the costs of referencing, carrying out company checks and a contribution towards the preparation of the tenancy agreement and inventory. This charge is non-refundable should you not proceed with the tenancy, fail our referencing criteria or give false information as part of your application. However, this payment will be returned to you in the event the landlord is unable to proceed.
If you are a student, are unemployed or on a low income, you will need a guarantor. We will need to carry out reference checks on the guarantor. The guarantor will be asked to read your tenancy agreement and sign a guarantor agreement before the tenancy starts.
We reserve the right to charge interest on late payment of rent which is calculated at 3% above the Bank of England’s APR for each day the rent is outstanding. However, this cannot be charged for the first 14 days of rent becoming due.
Tenancies are normally renewed every six months. Each time you decide to renew the tenancy for a further fixed term there will be no charge. However, if you request a variation or change in tenancy (e.g. adding or removing a tenant from the tenancy agreement) we will charge £50 to recover our reasonable costs. This amount is payable in advance and must be received prior to a new agreement being signed.
If you want to leave the property before the end of the tenancy, the landlord may agree to this but may ask you to continue to pay the rent and all household bills until the date a new tenant moves in or your tenancy comes to a natural end, whichever is the sooner. You may also be asked to pay reasonable costs in re-letting the property.
We are normally pleased to provide a reference for the above purpose. We do not charge a fee for this service.
We do not charge a fee for checking you out of the property. However, if we are unable to complete the agreed check out appointment due to unreasonable delays by you on the day of the appointment, we will have to re-arrange the appointment for a later date. Please note that your rent is payable until the day you move out of the property and surrender the keys.
If we need to arrange for a new key set (including fobs or other security devices) because of loss caused by you, or if we are required to visit the property to assist you regaining entry because of loss or negligence caused by you, we will charge reasonable costs to replace lost keys/security devices and our time (if applicable) in assisting you regain entry. Our time is charged at £15/hour.
We do not have the authority to cancel your standing order at the end of the tenancy and this is your responsibility. Any bank charges incurred for the transfer of funds after the termination of your tenancy agreement are your responsibility.
| Charge (inclusive of VAT where applicable) | |
|---|---|
| Reservation Fee (Holding Deposit) | One week’s rent |
| Late Payment of Rent Charge | 3.0% above The Bank of England APR |
| Variation or Change in Tenancy Fee | £50.00 |
| Early Release from Tenancy Charge | Reasonable costs to re-let |
| Mortgage/Landlord Reference Fee | Nil |
| Lost Keys/Security Device Charge | Reasonable costs to replace loss and/or Agent’s time at £15 per hour |
| Overpayment of Rent after Termination of Tenancy Charge | Bank Charges Incurred |
We are proud to have Client Money Protection in place which is administered by safeagent. To view our certificate, please see below.
We are a member of The Property Ombudsman who provide a redress scheme for our customers.
