When renting a property, you will need to take into consideration the lettings cost and charges when you make an offer.
Holding Deposit: You will be required to pay a holding deposit equivalent to one week’s rent in order to take the property off the market. The week’s deposit will be taken as part of the full 6 week’s deposit required before the start of the tenancy.
New tenancy admin fee: £100 plus VAT (£120 including VAT) payable by the tenant/s after your offer has been accepted and we have proceeded to draw up a tenancy agreement. The fee will cover: identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement.
Reference fee for each Tenant or Guarantor is £20. This is payable when you have agreed to undergo the independent referencing process. References are carried out by an independent Third Party.
Security Deposit: This is usually the equivalent of 6 weeks’ rent, payable prior to the commencement of your tenancy to cover the added risk of property damage that is beyond fair wear and tear. This deposit will be protected in a Government-authorised scheme and may be returned at the end of the tenancy. All deposits are held in our Clients Account and protected by Clients Money Protection Scheme.
Advance Rent: Rent is usually payable in advance for each tenancy. You will therefore need to pay the first month’s rent prior to the commencement of your tenancy.
Inventory charges. In most lets, tenants will be responsible for paying for the inventory check out costs upon ending a tenancy. The cost is approximately £100 - £175 (including VAT) dependent on the size of the property payable to the Inventory Clerk/Company.
Professional Cleaning: Tenants will usually be responsible for paying for a professional clean at the end of the tenancy. Costs can vary depending on the size of the property and your requirements, payable to the cleaning company.
Latymers Estate Agents does not charge the tenants any renewal fees however should there be any changes during the tenancy, the tenant/s will be liable to pay all third parties’ fees like licences to sublet from management companies, inventories, references, etc.
Lastly, the Tenant/s will pay all utility bills, telephone and Council Tax where applicable.
Should you have any question, please do not hesitate to contact our lettings team on: 0208 741 2233 or email at: email@example.com