TENANT FEES
Before you move in and during your tenancy:
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Any tenant renting a home under an Assured Shorthold Tenancy (AST) the following are payable or potentially payable:
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A holding deposit of one week’s rent to reserve a property and will then contribute towards the first month's rent.
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The security deposit, equivalent to five weeks rent, rising to six weeks rent when the annual rent is in excess of £50,000.
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Payment of the rent and utility bills as per Tenancy Agreement.
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Unpaid rent will potentially incur interest at 3% above the Bank of England base rate, as outlined in the Tenancy Agreement.
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Tenants are liable for the cost of replacing any lost keys or security device, including a change of lock or replacement of device if required.
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Should a tenant need to surrender the tenancy early and the Landlord agrees to re-let the property, the liability for the payment of rent will end once a new tenant is found and takes up occupation. However, the tenant will still need to cover the Landlord’s costs in surrendering the tenancy and re-letting the property.
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Debit and Credit Card Charges:
A Charge of 2.9% + £0.20 will be applied to each transaction made by overseas debit and credit card payments A charge of 1.4% + £0.20 will be applied to each transaction made by UK debit and credit card payments.
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For any individual tenant renting a property under a Non-Assured Shorthold Tenancy the following charges are also payable:
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A one off upfront payment of £120 Inc. VAT per tenancy which is a contribution towards processing the application, drawing up the Tenancy Agreement and registering the deposit.
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Tenant reference charge (£60 Inc. VAT per tenant) covers collecting and verifying references from employer/accountant and previous Landlord reference as well as carrying out a credit check and collecting a copy of passport, proof of residency, bank statements and a recent payslip.
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Guarantor charge (£60 Inc. VAT per guarantor if required) covers credit referencing and preparing a Letter of Guarantee as part of the Tenancy Agreement.
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Renewal charge (tenant share, £120 Inc. VAT) covers the cost of negotiating and administering the renewal and re-registering the deposit with the Tenancy Deposit Scheme.
Any tenant renting a home in the name of a business or company the tenancy administration and reference charge will be £240 Inc. VAT for a new tenancy and £120 Inc. VAT for every renewal.
All prices are inclusive of VAT.
Our clients peace of mind and financial protection that their money will always be safe in our hands under the Money shield Protection Scheme.
Vivat Property are member of The Property Ombudsman (TPO) for sales and lettings we subscribe to TPO’s Codes of Practice.
This Government approved independent redress scheme gives consumers additional protection beyond that required by law. Our clients and customers have peace of mind that there is free and fair redress available in the unlikely event of an unresolved dispute involving our agency.
IF YOU HAVE ANY QUESTIONS REGARDING OUR FEES, PLEASE ASK A MEMBER OF OUR TEAM.
Updated February 2023