The tenancy set up fee includes the cost of referencing — which will cover checking your credit status, previous employer, current or past landlords, and taking into account any other information to help us assess the affordability and suitability of your tenancy application. The fee also includes a contribution towards the cost of preparing a Tenancy Agreement.
After a viewing and when you have decided to apply for the property. We will provide you with a Tenancy Fee Declaration form which lists the services we provide and the fees that are payable. You will then be asked for your tenancy set up payment, which will be offset against the total amount payable on the day you sign the Tenancy Agreement and move into your new home. Should you need a guarantor there will be an additional fee payable for referencing which needs to be paid at the same time as the tenancy set-up fee.
Any additional fees that may be applicable to you will be collected on the day that you sign your Tenancy Agreement along with your rental and security deposit payment. Tenants are required to pay outstanding rent/deposit monies and sign their tenancy paperwork between Monday and Friday. Tenants wishing to do this on a Saturday will be required to pay an additional administrative fee.
This covers the cost of processing the application and associated paperwork for any additional applicants.
Depending on the outcome from your application from the referencing company, your earnings or overall financial position may require you to provide a guarantor. This is not uncommon, and means you have someone on your behalf that undergoes credit referencing – to ensure they have sufficient earnings to cover the overall rent commitments in the event that you, as the tenant, are unable to pay your rent. This fee is payable in respect of each guarantor to cover credit referencing costs and providing a Deed of Guarantee as part of the Tenancy Agreement, which details their obligations as a guarantor.
This is a person approaching, or over the age of, 18 who will not be permanently residing at the rented property. This only applies in very specific situations and then only with the landlords consent. The administration costs include supplying the relevant documentation that explains in more detail what it means to be a permitted occupier and how this fits in with the tenancy of the property.
This fee may be applicable if a change to the tenancy is required mid-term. This may be due to a change in personal circumstances and / or a request to leave the tenancy early is agreed prior to the end of the tenancy agreement (this is subject to landlord consent).
This is a contribution towards preparing a new Tenancy Agreement and negotiating with your landlord for a further fixed term tenancy. Extending your tenancy, if agreed by your landlord, gives an assurance of staying in the property for a further fixed period, at an agreed rent and avoids the uncertainty of a landlord serving notice at any given time.
Most landlords ask Reeds Rains to employ external inventory companies to produce an inventory for their property before the property is let. Where this applies, you will be liable for a contribution towards the check out fee when the inventory company carries out their inspection at the end of the tenancy. The check out report forms an important part of how the return of your security deposit is arranged. Please feel free to ask our staff if you have any questions about this process.
If your application fails or is withdrawn, the cost is non-refundable. In the event that the landlord for any reason is unable to proceed your fees will be refunded in full.
All tenancies are offered subject to contract and satisfactory references Reeds Rains cannot be held liable for any costs should the tenancy not commence for any reason.
Please note that a higher deposit may be required where it is agreed pets can be included in the tenancy. The acceptance of any pets is subject to the landlord's consent and must be agreed prior to signing the Tenancy Agreement.
Dated: August 2016