Lettings Fee’s for tenants
Before you move in to a rented property you will need to consider the below: -
What are our Administration Charges? Fees INC VAT
- Our administration/referencing charge is £150.00 this cost applies to all adults over the age of 18 and cover the referencing procedure and our administration costs.
- Set up charge – including tenancy agreement and property check out report £250 per tenancy. This will be due at the time an offer is agreed by a landlord and is to commence the administration to rent process and needs to be paid along with the administration/referencing charges and this is nonrefundable one off charge.
- If the tenancy is renewed, we will make a charge of £90.00 to cover our administration.
- An administration charge of £25.00 plus vat is charged if we have to send a second late payment reminder letter and £50.00 plus vat for a third letter as per the tenancy agreement.
- Should you wish to terminate your tenancy before the end of the term and the landlord agrees that you can terminate early, you will be responsible for an early termination fee. Please refer to additional fees
Having viewed the property and arrived at a decision to make an application to rent you will be required to: -
- Pay a holding deposit of £200.00 per tenant
- Provide a copy of either your Passport or Driving License
- Copy of a current utility bill within the last three months
- Complete our Reference Form online
- The holding deposit will be deducted from your account when the tenancy commences, however, should your application prove unsuccessful or you decide you do not want to proceed your deposit is non-refundable.
- It is the Landlords ultimate responsibility to approve the references and it is imperative that you advise us in advance if you have any adverse credit history (IVAS or CCJS)
Andrew Pearce use a professional referencing company to carry out the Referencing. An electronic form is to be completed by every adult who will be moving into the property over the age of 18. The form will be sent to you via your email for you to complete online. This process normally takes 48 hours to complete once the form is submitted and Acceptable references will need to be obtained in order for us to proceed with the tenancy.
It may be that the referencing company ask for a Guarantor to be provided and in this event we will need your chosen Guarantor to complete a further reference form and provide ID and proof of residency at an additional referencing cost of £150 (INC VAT).
If for any reason you are unable to complete a form online, we can arrange for it to be completed at the office.
Deposits and Rent:
Given we have obtained acceptable references you will be offered the tenancy of the property subject only to the terms of the Tenancy Agreement.
- Rents and deposits are payable by bank transfer or debit card 5 working days prior to the tenancy start date.
- Rent is always paid calendar monthly in advance, the first payment being made by Bank Transfer. Subsequent payments are by Standing Order. If the payment of rent is late for any reason, interest and administration costs may be payable.
- The deposit equal to one and a half month’s rent is required and acts as security for the performance of your obligations as a tenant under the terms of the tenancy agreement. This deposit will be returned to you at the end of the tenancy terms without interest, and subject to dilapidations or any deductions that may be necessary to compensate the landlord for any breach of the tenancy agreement. Please see our Tenancy Agreement for complete details of how the Tenancy Deposit will be dealt with at the end of the Term.
- Andrew Pearce Lettings is a member of the Deposit protection services. Please see our Tenancy Agreement for details.
- At commencement of the tenancy we instruct a professional company to prepare an inventory and is undertaken at the landlord’s expense.
- The inventory will form the basis of assessment of the property’s condition, including inventory items at the end of the tenancy term. Fair wear and tear will obviously be taken into consideration.
- The Landlord will pay for the compilation of the inventory and the Tenants will pay the checkout fee which is incorporated within the setup fee – details of which can be provided upon request.
Rent (Multiple Tenants)
Where there are a number of tenants sharing accommodation, it is only acceptable that one Standing Order payment is made to Andrew Pearce Management for the entire month’s rent.
Each tenant is jointly and severally responsible for the whole rent so that they are equally liable for the non-payment of rent by one of their co-tenants should they fail to pay.
Summary of Monies required before the Tenancy Commences INC VAT
- Holding deposit of £200.00 per tenant to occupy
- Balance of Monies Due before Agreement Commences (the holding deposit is deducted from this)
- Dilapidations Deposit of 1 and a ½ months
- Balance of one month’s rent
- Administration fee of £150.00 per person
It is the responsibility of the landlord to insure the building and their contents, however it is the responsibility of the tenant to insure their own contents. Andrew Pearce will refer you to our recommended insurer who will contact you to supply a no obligation quotation.
Andrew Pearce accept no responsibility should the tenancy start date be delayed for any reason caused by the landlord, current tenant or yourselves. Should the reference check or return of papers delay the start date then you hereby agree that the tenancy shall still commence at the date agreed but you will not be permitted to occupy the property until the satisfactory paperwork is completed.
It is required that a standing order is completed and submitted to your bank.
Additional fees may apply:
- Set up fee charge including – tenancy agreement / property checkout report £250
- Deposit should be 1 and a ½ months’ rent
- Guarantor application fee – £150
- Amendment / reschedule of check in move in date and updating documents – £100
- Landlord Reference from management department or lettings charge – £25
- Cancellation of professional / contractual appointment within 24 hours – £50
- Renewal admin charge – £90
- Fees to leave earlier than tenancy end date – £500
- Chasing rent 4% over Barclays base rate
- Deed of variation / change of circumstances or change to the tenancy agreement including a reference will be – £150
- Retrieval of file to provide tenants with copies of documentation an application fee where there is in excess of 3 weeks to the tenancy commencement date -£160
- Cancellation of visit or inspection – £30
- Disposal of items left by tenant at the end of the tenancy- £150
- Failure to cancel standing order – £25
- Pet deposit - ½ a month’s rent
Revised May 2016