As a company we have to be competitive within the market. We also seek to give outstanding value for money and we believe our fee structure reflects this. The following charges are the only ones you will incur during your tenancy and there are no other hidden costs.
Holding deposit
The holding deposit is £200 and is fully refundable with your dilapidations deposit at the end of tenancy. This is an optional deposit that is put down to secure a property whilst we are carrying out your references. This ensures that we stop actively marketing the property and no one else is shown around. Once we have received your application and depending on the result, we will either keep the money and put it towards your dilapidations deposit, or we will refund it to you. The only reason you would not get this money back is if you decided not to go ahead with the tenancy. This is because we will have stopped advertising the property and may have lost another potential tenant due to the property being held, but this is not a common scenario.
Reference Fee
In order to process your application there is a charge of £50.00 This is the charge paid to the referencing company who will obtain the required references from your employers, bank and landlords. Unfortunately it is not possible to rent a house without these references being taken up, and this fee is NOT refundable, even if your references fail.
Dilapidations Deposit
The total of this deposit is equivalent to 1 months rent + £200. This deposit covers any damage that may occur at the property while you are residing there and is FULLY refundable should the property be in good condition at the end of tenancy.
If the holding deposit is paid while the references are being taken up, then this deposit becomes the equivalent of 1 months rent. This is because the holding deposit money is kept and added onto the dilapidations deposit to make up the balance. This becomes payable on the day that you commence tenancy, and will need to be made in cleared funds, being either card payment, cash or a bankers draft.
N.B If a payment is made by personal cheque, this will need to be paid at least 7 days before the commencement of tenancy so that the funds are cleared. If the funds are not cleared for the start of tenancy, the tenancy will NOT proceed.
Documentation Fee:£150.00
This will become payable on the day you sign the tenancy agreement. This charge will only become refundable if the Landlord opts not to continue with the tenancy. This covers all the administration and legal costs of drawing up all the relevant paper work.
Rent Payable in Advance
This becomes payable on the day you sign the agreement and will need to be paid in cleared funds, being either cash, card or a bankers draft.
The date you sign the tenancy agreement becomes your rent day and all rent payments will be due on that day from thereon. It is possible to move the rent day forward to suit other payments you may have leaving or entering your account, but it is important to note that the rent is always paid in advance for each calendar month.
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