Tenant Fees

WHAT WILL YOU BE EXPECTED TO PAY WHEN RENTING A PROPERTY?

A HOLDING DEPOSIT: Capped at one week's rent. Paid by you to reserve the property. This will only be retained by us if any relevant person (including any guarantor(s)) withdraws from the tenancy, fails a Right-to-Rent check, provides materially significant false or misleading information, or fails to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days. This will be deducted from the 1st month's rent payment. Example: One month's rent at £500 x 12 months = £6000 / 52 weeks. Total Holding Deposit: £115.38.

SECURITY DEPOSIT: Capped at 5 weeks' rent where the annual rent is under £50,000 and 6 weeks' rent where the annual rent is £50,000 or higher. This will cover damages and defaults by the tenant as detailed in the AST during the tenancy. Example: One month's rent at £500 x 12 months / 52 weeks = £115.38 x 5 weeks. Total Security deposit: £576.90.

COMMENCEMENT DATE OF TENANCY, WHAT YOU WILL NEED: First month’s rent at £500 + Security deposit of £576.90 = Total £1076.90.

WHAT INFORMATION WILL WE NEED?

RIGHT TO RENT: Each applicant must prove they have the right to rent in the UK. Two forms of identification are needed; one must be photographic evidence (e.g., Passport or Driving License). Visit the Right to Rent website. We also require proof of address in the form of a Utility Bill/Council Tax. If you are a Foreign National, we require proof of residency/VISA. Applicants have to pass a credit check and also an affordability test. Depending on your circumstances, a tenant must have a total monthly income of at least 2.5 times the monthly rent (overtime and bonuses are not usually included).