Before tenancy starts - To be paid when making an offer on a property let on an AST or Licence
- Holding deposit equal to one week's rent which will usually be offset against the initial rental payment, if the application is successful
- Tenancy deposit up to 5 weeks of rent (or up to 6 weeks of rent is annual rent is over £50,000)
- Payments to service providers in respect of utilities, communication services, TV licence and council tax
- Interest, at a rate of up to 3% above the Bank of England’s base rate, for late payment of rent (which is more than 14 days overdue)
- A payment to alter the tenancy agreement, when requested by the tenant of £50 incl. VAT (or reasonable costs incurred if higher)
- Payments associate with early termination of the tenancy when requested by the tenant
- A default fee for the replacement of a lost key or security device
BEFORE YOU MOVE IN:
- Referencing fee - £72.00 per tenant
Referencing (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability)
- Tenant Administration Fee - £360.00 per property
Processing the application, associated paperwork as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and signing of the tenancy agreement
- Guarantor Fee - £72.00 per guarantor, if required
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement
- Accompanied Check-in Fee OPTIONAL - between £144.00 - £240.00 depending on the size of the property
Preparing an Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services
DURING YOUR TENANCY:
- Amendment Fee - £360.00 per property
Contract negotiation, amending terms and updating your tenancy agreement during your tenancy
- Deposit Registration Cost - £42.00
- Renewal Fee (tenant’s share) - £240.00 per property
Contract negotiation, amending and updating terms and arranging a further tenancy and agreement
- Late payment fee for every letter sent to chase - £30.00
ENDING YOUR TENANCY:
- Check out Fee (tenant’s share) OPTIONAL - £144.00 - £240.00
Attending the property to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s)
- Out of Hours Services - £90.00 per hour 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 - Interest at 8% above Bank of England Base Rate from date due
- Professional Cleaning (if required) - £36.00 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.
- Providing a reference to new Landlord - £30.00 per reference (this will be provided in writing via e-mail or by sending a letter on a company letter headed paper).
- Aborted visits for non-access on scheduled visits - £72.00
OPTIONAL FEES DEPEND ON THE LANDLORD AND WHAT SERVICE DO THEY REQUIRE AT THEIR PROPERTY. CHECK IN AND CHECK OUT ARE USUALLY SPLIT BETWEEN THE LANDLORD AND TENANT.
IF YOU HAVE ANY QUESTIONS ON OUR FEES, PLEASE ASK A MEMBER OF STAFF OR VISIT OUR WEBSITE FOR FURTHER DETAILS.
Reliable Homes is a member of ARLA Propertymark and the Propertymark Client Money Protection Scheme, and also a member of the Property Ombudsman, which is a redress scheme. More details can be found at https://www.arla.co.uk/letting-agent-directory/london/reliable-homes-b0093140.aspx and https://www.tpos.co.uk/find-a-member or by contacting us directly.