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For Tenants

Holding Deposit

£150.00 or one week’s rent, whichever is lower, per application, (not per person).  VAT not applicable.

A Holding Deposit is taken to secure a property off the market whilst an application is considered and references and credit checks are processed.   It is our practice to refund the holding deposit by deducting it from the first payment of rent, unless applicants require it to be refunded separately.

A holding deposit will not be refunded if the tenancy is not taken up for any of the following reasons:-

  1. Any reference or credit check is not satisfactory; or
  2. Any information supplied on the application form is untrue, inaccurate or   misleading; or
  3. The applicant changes their mind and decides not to take the tenancy applied for or delays in doing so; or
  4. Any reference has not been received within 14 days of request and the property is remarketed; or
  5. If an applicant does not have the right to rent the property pursuant to the Immigration Act 2014 and that was not mentioned in their application form.

Contract Variation/Novation fee

£60 including VAT (= £50 plus VAT)

Where the tenants request a variation or novation of a tenancy (eg permission to relax a restriction; or swap names on the tenancy)

For Landlords

Holding Deposit

In circumstances where an applicant forfeits their holding deposit, it will be retained by us in full as an administrative fee to cover the time and costs wasted in undertaking viewings, assessing the application, dealing with references and obtaining credit checks.

Tenant Find Only

£550 including VAT (= £500 plus VAT)

Tenant Find with Management

£420 including VAT (= £350 plus VAT)

Management Charges

14.4% including VAT (=12% plus VAT) of the monthly rent collected (negotiable depending on management intensity and for multiple properties)

Inventory

£60 including VAT (= £50 plus VAT)

Contract Renewal

£60 including VAT (= £50 plus VAT).  Where the initial fixed period has ended and either the landlord or tenant requests a new tenancy.

Re-Let Fee

£180 including VAT (= £150 plus VAT) for finding new tenants for managed properties.

Tenant Deposit Protection Scheme

All our tenant deposits are protected in the Deposit Protection Service (DPS) custodial scheme – www.depositionprotect.com

Redress Schemes

  1. For consumers: The Property Ombudsmantpos.co.uk
  2. For business customers: RICS Dispute Resolution Servicerics.org/drs
  3. For any customers: The Legal Ombudsmanlegalombudsman.org.uk