Lincoln Tenant Info

TENANT FEE GUIDE  

Before the tenancy starts (payable to Northwood (Linc’s) Ltd “the Agent”).

Holding Deposit* - Maximum of 1 weeks rent (per tenancy)
                            * This may be a non-refundable payment


This fee is non-refundable should you decide not to progress your application/sign your tenancy agreement within 15 Calendar days (unless otherwise mutually agreed) or if you have given false/misleading information on the application form or any applicant fails a Right to Rent check.
It will be returned to you in the event the landlord is unable to proceed

 

Deposit**

-    In accordance with the Tenant Fees Act 2019 a deposit of 5 weeks rent is required.
-    This is to cover and damages, dilapidations & defaults on the part of the tenant during the tenancy.

 

During the Tenancy (payable to the Agent)

Payment of interest for the late payment of rent 3% above Bank of England base rate.
 

During the Tenancy if permitted and applicable.

Utilities – gas, electricity, water and sewerage
Communications – telephone and broadband.
Installation of cable/satellite.
Subscription to cable/satellite supplier.
Television licence.
Council Tax.

 

Lost Keys or other Security Devices

Tenants are liable for the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord & any other persons requiring keys will be charged to the tenant, If extra costs are incurred there will be a charge of £15.00 + VAT , if appropriate, for the time taken replacing any lost keys or security devices 
 

Variation of Contract (At Tenant’s Request and if agreed by Landlord).

£50 (inc VAT) to cover agent’s costs in contacting landlord, taking landlord instructions & preparations of new contracts (if required) & system adjustments.
 

Change of Sharer (At Tenant’s Request and  if agreed by Landlord)

£50 (inc VAT) per replacement tenancy or any reasonable costs incurred if higher:
To cover the costs associated with taking landlords instructions, new tenant referencing and Right To Rent checks, deposit registration and preparation of new legal documents

 

Variation of Contract (At Tenant’s Request and  if agreed by Landlord)

£50 (inc VAT) to cover agent’s costs in contacting landlord, taking landlord instructions & preparations of new contracts (if required) & system adjustments.
 

Early release from tenancy

If authorisation is given allowing you to vacate the premises before the expiration of any tenancy agreement, you may be liable for the following:

i)    Rent up to the date on which the premises are re-let or the expiration of the tenancy agreement, whichever is the sooner
ii)    Council tax, water rates, gas and electricity charges along with any other bills which are your responsibility under the tenancy agreement up to the date the premises are re-let, or the expiration of the tenancy agreement, whichever is the sooner
iii)    There will be a charge, if appropriate, for the landlord’s costs for re letting the property. 
iv)    These costs will be no more than the maximum amount of rent outstanding

 

Other permitted payments. 

Any other permitted payments not included above, for breaches of contract or under the relevant legislation including contractual damages.

Please note: Should you report a maintenance issue with the property and a contractor is called out and their investigations find that the fault has been caused by the tenant/s or an associate of the tenant/s, or alternatively no fault exists, any cost for this call out will be the responsibility of the tenant/s. Northwood (Linc’s) Ltd reserve the right to deduct any unpaid monies from the deposit.
Tenant Protection

We hold Client Money Protection through NALS (Safe Agent) To view our certificate, please Click Here. We are also a member of The Property Ombudsman, which is a redress scheme. 


 

Landlord Fees

All our fees are shown inclusive of VAT where applicable.

Guaranteed Rent

If you are renting your property to us on the Guaranteed Rent Service, we will not charge you any fees at all.

Charges will apply for our other services, please see the table below for details of these.

Set Up Fee for Fully Managed and Rent Collection

When you first instruct us on either of these schemes you will have to pay a Set Up Fee. This fee covers all the cost of advertising, finding a tenant, compiling the inventory and drawing up agreements etc. The Set Up Fee is payable each time you instruct us to find a new tenant for your property.

A fee for protecting the tenant’s deposit may be charged separately to cover our costs.

Commission for Fully Managed and Rent Collection

We charge a monthly commission for the ongoing management of your property, which will depend on the level of service you require.

Renewal Fee for Fully Managed and Rent Collection

If you are happy to renew the tenancy we may charge you a Renewal Fee, payable prior to the tenant signing a new agreement.

Tenant Find Charges

If you simply want us to find a tenant for your property, we will charge you a one off fee. This fee covers all the cost of advertising, finding a tenant, compiling the inventory and drawing up agreements etc.

Renewal Fee for Tenant Find

If you are happy to renew the tenancy we may charge the tenant a Renewal Fee, payable prior to the tenant signing a new agreement.

Our Landlord fees are as follows:

  Charge
(inclusive of VAT where applicable)
Standard Set Up Fee - Fully Managed £360.00
Standard Monthly Commission – Fully Managed 14.4%
Renewal Fee - Fully Managed £120.00
Standard Set Up Fee – Rent Collection £360.00
Standard Monthly Commission – Rent Collection 12%
Renewal Fee - Rent Collection £120.00
Standard Tenant Find Commission 10.08% of annual rent
Tenant Find Renewal Charges £120.00
Check In Fee - Tenant Find £180.00
Check Out Fee - Tenant Find £180.00


We hold Clients Money Protection insurance provided by NALS

Northwood Lincoln
Opening Times Monday - Friday 8:30am to 5:30pm Saturday 9:30am to 2:00pm Sunday Sorry we are closed for family time.
Registered Office: Northwood (Lincs) Ltd, 25 -26 Silver Street, Lincoln, LN2 1EW. Company Number: 8251288. VAT: 154889658
Contact Northwood Lincoln
Got a question for NAME?

Get in touch