For clarity, the following is the list of costs for a proposed tenancy.
BEFORE YOU MOVE IN
Prior to moving in, there is a set up fee (tenant’s share) of £150 inc VAT per tenant up to 2 tenants (see Additional Tenant Fee* for additional tenants). This fee covers the administrative costs of referencing tenants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability), contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.
*Additional Tenant Fee: £75 inc VAT per tenant, covers the same as set up fee above.
Guarantor Fee: NO CHARGE per guarantor (if required).
We will undertake credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement.
Permitted Occupier Fee: NO CHARGE per permitted occupier.
We will explain to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy.
Accompanied Check-in Fee: NO TENANT CHARGE. Check in paid by Landlord.
We will prepare an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services.
Pet Deposit: additional security deposit of £600 PER ANIMAL
This fee covers the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy depending on the condition of the property and its contents at the end of the tenancy.
DURING YOUR TENANCY
Early Termination Fee: £120 inc VAT plus liability for all tenancy costs until the Landlord has approved your vacation.
Should the Tenant request termination prior to a fixed term and subject to the Landlord’s approval, the Tenant will remain liable to pay their rent and any other monies payable under this Agreement, including agency fees, until the Term expires; or as per any agreement negotiated with the Landlord.
Renewal Fee: (tenant’s share) £120 inc VAT.
This fee covers contract negotiation, amending and updating terms and arranging a further tenancy and agreement.
ENDING YOUR TENANCY
Check out Fee: £120 TO £500 inc VAT DEPENDING ON NUMBER OF BEDROOMS/FURNISHED/UNFURNISHED.
An independent third party inventory clerk will attend the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)
Future Landlord Reference Request Fee: NO CHARGE per reference request, one such request per tenant.
This fee covers collating information and preparing a reference for a future landlord or letting agent.
OTHER FEES AND CHARGES:
Lost Security Items: £42 inc VAT per hour with a minimum charge of £42 (inc VAT) plus item cost.
This fee covers obtaining necessary permissions, sourcing providers and travel costs.
Out of Hours Services: £95 per hour inc VAT plus any actual costs incurred.
Where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the hourly rate.
Unpaid Rent / Returned Payments is charged at an interest rate of 8% above Bank of England Base Rate from date due.
Professional Cleaning (if required): £75 inc VAT per hour which will be deducted from the Security Deposit.
Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.
IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF OUR LETTINGS TEAM.
When you to rent a property through Finlay Brewer Estate Agents, the following will be expected from all tenants concerned:
6 week deposit – this is held against any damage & dilapidations that have occurred during the tenancy and will be deducted at the end of the tenancy after the Inventory check out report has been produced. Finlay Brewer holds all protected deposits in a client account bonded by ARLA and where applicable registered with the TDS.
1 month’s rent in advance – rent is worked out per calendar month (pcm) not x 4 weeks! You take your weekly rent, times it by 52 (weeks), and then divide by 12 (months). Both deposit and first rent payment must be paid in clear funds (CASH OR TELEGRAPHIC TRANSFER) before the tenancy commences. Please note that a cheque or company cheque is not acceptable.
Referee details – you will be required to supply names & addresses of previous landlord and employer. You will also need to supply full bank details.
Admin fees – See above.
Holding deposit – 1 week is required of your 6 week deposit to take the property off the market while references are obtained. You may be at risk of losing this should you not take the property once it has been withdrawn from the market.
Proof of address – You will need to provide us with a utility bill or bank statement addressed to you at your current address between 3 and 6 months ago, this is required for the credit search.
Photo ID– UK and EU nationals will need to provide photo ID.
Passport – Overseas applicants will need to bring your passport clearly showing UK right of residence into the office for identification purposes.
An agency would like as much time as possible to carry out references and draw up the agreement – ideally between 3 – 5 working days.
A tenancy agreement is a legally binding document between you and the landlord, applicable only to you and the property you are renting, this states the amount of rent, the length of the tenancy, your rights and responsibilities. Your agreement will most probably be an Assured Shorthold Tenancy Agreement under the Housing Act 1988. The length will usually be agreed between both parties as part of your offer.
The tenants are responsible for all utility bills, which can include, but not limited to, gas, electricity, water, council tax etc. It is suggested that Tenants should insure their own possessions with contents insurance.
If your property has an inventory drawn up at the start of your tenancy then the landlord usually pays for the check in and the tenant(s) will be responsible for the check out payment.
We wish you the best of luck in your search and if you have any further questions contact our lettings department on 020 7371 4071 or email@example.com