Before you Move In
Payment of Intent – equivalent to two week’s rent
We require a payment of intent as confirmation of your intent to proceed with the proposed tenancy. This will be put forward towards your first rental payment and will only be refunded if our client elects not to proceed with the tenancy. Payment of this sum does not constitute granting of the tenancy.
Rent in Advance – 1 Month
Under the terms of the tenancy agreement you will usually be required to pay 1 months’ rent in advance prior to the commencement of the tenancy.
Deposit – Equivalent to 6 weeks rent
The deposit is held to protect your Landlord in the event that you do not meet your obligations under the terms of the tenancy. Whilst you should check the tenancy agreement for details specific to your tenancy, where you enter into an Assured Shorthold Tenancy, the deposit will be registered with a Deposit Scheme. This means that no deductions can be made until you and the Landlord have reached an agreement or there is a judgement by the courts or the adjudicators of the specific deposit protection scheme make a final decision.
Stamp Duty Land Tax
This tax is payable on tenancies where the rent exceeds £125,000. Please contact HMRC for further information.
Other Charges you should allow for
Preparation of the Tenancy Agreement - £216.00 inc. VAT (first tenant)
Referencing (identity, immigration status check, financial credit checks, obtaining current or previous Landlords/employers and any other relevant information to assess affordability and suitability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy agreement.
Additional Tenant Referencing Fee - £60.00 inc. VAT (per additional tenant)
Guarantor Fee - £120.00 inc. VAT per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the tenancy agreement
During your Tenancy
Change of Sharer - £180.00 inc. VAT
Contract negotiation, referencing, immigration status check, amending terms and updating your tenancy agreement during your tenancy
Ending your Tenancy
Check Out Fee – Typical Cost £200.00 inc. VAT
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the payment of the security deposit
Other Fees and Charges
Unpaid/Returned Payments – Interest at 4% above Bank of England Rate from due date
Professional Cleaning (if required) – Typical Cost £300.00 inc. VAT
Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy. The actual cost of the cleaning is dependent on the size of the property and you will need to arrange this when you vacate the property.
We are members of the National Association of Estate Agents and subscribe to their Code of Conduct and we hold Client Money Protection as supplied and administered by Propertymark.
The Deposit will be held with either of the two custodial deposit protection schemes: Tenancy Deposit Scheme (TDS) or the Deposit Protection Scheme (DPS)
We are members of The Property Ombudsman and abide by The Property Ombudsman Code of Practice. (Company Ref: T00247)