Residential Letting Charges for Tenants
When it comes to Letting Properties agents will charge fees to a prospective new tenant on top of the rent. In an effort to be transparent our fees are set out below:-
The Rent- the first months rent in advance
The Deposit (usually one months rent held as deposit but sometimes a landlord might ask for 2 months depending on the rental value and pets being allowed)
The Application- the prospective tenant is charged £50 (including VAT) for the costs of processing their application. This application is sent to our independent referencing company where references are sought and a decision is made on whether to proceed. The application fee is non-refundable once the application has gone to our referencing company and unlike some agents we tend to only send one application off at a time, afterall a property can only be occupied by one of the applicants and so taking money off multiple applicants knowing that they wont get their money back we see as quite unfair.
Single application - £50 (including
VAT); Joint application - £100 (including VAT); Any additional applications - £50 (including VAT)
Please note that the Landlord will always have the final say.
If the application comes back as acceptable then we can proceed to the Tenancy stage. We charge £100 (+VAT) for the drawing up of the tenancy agreement and this is payable by the tenant.
Example- As an example a couple wanting to rent a 2 bedroom property with a rent of £650 pcm would need £1,520 to secure the property. This is broken down as £650 for the first months rent in advance, £650 for the deposit, £100 for the applications (being 2x £50) and £100 (+VAT) for the tenancy agreement.
We strive to make the application process as painless as possible for both the Landlord and Tenant.