Stoke on Trent Tenant Fees
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. We will 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 where applicable.
At your viewing you will be given a card detailing the fees involved in letting a property through Northwood, we are happy to explain these at the point you enquire about the property or refer to the detail below.
We will ask you to pay an administration fee of £210.00 to cover the costs of referencing and initial checks, and a contribution towards the preparation of the tenancy agreement and inventory, this is payable at the point you make your application to rent the property, we do not accept cash in the office, we only accept payment via debit card there is no additional cost to you for using a debit card. On completion of the application form we will also be required to see the following documents: 2 forms of I.D. usually either a driving licence or passport and an itemised bank statement, Proof of Income, last 3 payslips, pension statement or Benefits Statement and proof of Right to Rent. Northwood will then complete the referencing, usually within 3 working days and then present the application to the landlord for their decision, on acceptance, the balance of the funds, first month's rent and deposit will be payable, these funds must be cleared by your bank prior to the commencement of your tenancy.
Northwood may process multiple applications for a property, the administration fee will be as above, you will be made aware if other applications are being considered, if you are unsuccessful then you will be refunded your administration fee.
The administration fee is non-refundable if you or your guarantor (if required) give fraudulent information on yours or their application, it is also non-refundable if you withdraw from the application. If the landlord refuses your application then your administration fee will be returned.
Holding Fee / Reservation
Northwood may ask you to pay a holding fee or reservation, the amount of this payment will form all or part of the total deposit if your application is successful.
A holding fee or reservation would only be requested where your tenancy start date is not within a week of the acceptance of your application, on receipt of this reservation fee the property will be taken off the market between the point of acceptance and the date you start the tenancy at your property.
This payment will not be refunded to you if you decide not to progress with the tenancy, depending on the time that has passed between you being acceted for the tenancy and your withdrawal. It will be returned to you in the event the landlord is unable to proceed.
Prior to your tenancy starting, you will be asked to pay the balance of the deposit less any holding fee or reservation paid already. The value of the deposit may vary depending on your personal circumstances, but will normally be equal to one and a half month's rent (i.e. Rent £600 per calendar month, deposit £900).
This payment must be in cleared funds prior to the start of your tenancy Northwood will advise on clearing times for your chosen payment method, please note we do not accept cash or credit card, we do accept debit card or electronic bank transfer.
* Should you not proceed with the tenancy we reserve the right to retain your holding fee or reservation to meet any reasonable costs or loss of rent whilst the property was withdrawn from the market. This may apply whether you withdraw from the tenancy or are unable to proceed.
A deposit is a sum of money taken to be held as 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, this deposit will be held correctly and securely in one of the government approved deposit protection schemes, you will be advised which scheme is being used prior to the commencement of your tenancy however if required at any point prior to the commencement of your tenancy we are happy to give this detail. Northwood are SAFEagent registered having full client money handling procedures in place.
If you are a student, are unemployed or on a low income, have a low credit score the landlord may still consider your application, you will need a guarantor, your guarantor must be a UK home owner and in a secure financial position to guarantee your tenancy. We will need to carry out reference checks on your guarantor, if required there will be no additional charge for this referencing.
The guarantor will be asked to read your tenancy agreement and sign a guarantor agreement before the tenancy starts.
Pets in Rental Property
Your landlord may allow pets in their property, this is always subject to their permission, a fee may be payable and an addendum to your Tenancy Agreemewnt will be issued, pets are not allowed in properties without this permission and Addendum. The fee will normally be dependent on the size of the property, 1/2 bedroom property £200, 3 bedroom property £250, 4 bedroom property £300 and 5 bedroom or more £350, this will cover the clean and fumigation of the carpets at the end of your tenancy.
Tenancies are normally renewed every six months. Each time you decide to renew the tenancy for a further fixed term, a charge of £25 will be made, this amount is payable in advance and must be received prior to a new contract being signed. If your landlord is in agreement you may wish to continue your tenancy via a periodic tenancy, if you wish to continue via a periodic tenancy then there will be no renewal charge made.
Late Payment of Rent
We reserve the right to charge a fee of £50 for chasing any rents that are received more than three days late from the due date, this will be charged for each and every late payment.
Early Release from Tenancy
If you want to leave the property before the end of the tenancy, the landlord may agree to this, but will 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 will be asked to pay reasonable costs in re-letting the property, currently £300.
We are normally pleased to provide a reference for the above purpose, no charge is made for this service, please note that all rents must be up to date.
We do not charge a fee for the check out appointment.
If we are unable to complete the agreed check out appointment due to unreasonable delays by you on the day of the appointment, you will be charged £25 per hour to cover our reasonable costs, this fee is not chargeable if a new check out time or date has been previously agreed. Please note that rent is payable until the day you move out of the property and surrender the keys.
If we need to arrange for any work at the end of the tenancy because of damage to the property caused by you, we will charge you an arrangement fee of 10% of the cost of the work. This is subject to a minimum £25.00 charge.
Overpayment of rent
We do not have the authority to cancel your Standing Order at the end of the tenancy, this is your responsibility. If we need to refund you rent because you have not cancelled your standing order, we will charge you an arrangement fee of £25.00 to cover the cost of administration.
Our tenant fees are as follows:
||Charge (inclusive of VAT where applicable)|
|Administration Charge - Single Person
|Administration Charge - Couple
|Administration Charge - Additional Applicant
||Charge (inclusive of VAT where applicable)|
|Equivalent to the deposit payable for the tenancy
| ||Renewal Charge
| ||Early Release from Tenancy
| ||Pet Fee if allowed in property
||Maximum £350 see above.
| ||Abandoned Check Out
||£25.00 per hour
| ||Minimum Arrangement Fee
| ||Late Payment Fee
| ||Overpayment of Rent
We hold Clients Money Protection insurance provided by NALS (National Approved Lettings Scheme)