Agent fees - tenant

Agent Fees - Tenant

Tenant holding deposit: £ one week's rent

A payment made by a tenant in order to secure a property whilst the administration and reference checks take place. If the let proceeds, this payment is refunded or offset against the move in monies. To work out the holding deposit amount, divide the monthly rent amount by 4.35.

To amend a tenancy: £50.00

Subject to the landlord’s approval for the amendment and satisfactory references of any incoming tenant. A charge made in order to administer a change to a tenancy including a replacement tenant situation.

(applies to English tenancies only)

Dilapidations Deposit: £ equivalent to five weeks rental amount

A deposit paid by the tenant at the start of a tenancy which can be held either by Andrews or the landlord for the duration of the tenancy. At the end of the tenancy, it is dealt with in accordance with the terms of the tenancy agreement.

Default Fees

Late payment of rent: £ daily interest at the Bank of England’s base rate + 3%

An interest charge will be applied if a rent payment is more than 14 days overdue for each day the payment is outstanding.

Lost keys: £ actual costs incurred

A charge for a lost key(s) or equivalent security device(s). The landlord or agent will provide evidence, in writing, to the person liable for the payment to demonstrate that the costs they have incurred.

Re-letting cost: Charges apply on a case by case basis

If the tenant wishes to surrender the tenancy during a fixed term (early termination), and the Landlord agrees, a payment to cover the costs of marketing, a new tenancy agreement and references for a new tenant. This will not exceed the Landlord’s losses. The tenant will pay £420.00 inc. VAT, plus £12.00 inc. VAT per reference check required.

Non-housing Act Tenancy

Holding deposit: £300.00

A non-refundable deposit paid by a tenant in order to secure a property whilst the administration takes place. If the let proceeds, this fee is refunded or offset against the move in monies.

Reference fee (including tenancy agreement): £300.00

An administration fee in order that referencing can be completed on the Company including ID checks on the Occupiers, financial checks and any other relevant checks to assess affordability, as well as contract negotiation and arranging completion of the tenancy agreement.

Guarantor reference fee (including tenancy agreement): £150.00

An administration fee in order that referencing can be completed on the guarantor including ID checks on the occupiers, financial checks and any other relevant checks to assess affordability, as well as contract negotiation and arranging completion of the tenancy agreement.

Extension tenancy agreement (each tenancy) £200.00

An administration fee in order for a new fixed-term to be negotiated and agreed together with any new ID checks and arranging completion of the tenancy agreement.

Dilapidations deposit: £ equivalent to five weeks rental amount

A deposit paid by the tenant at the start of a tenancy which can be held either by Andrews or the landlord for the duration of the tenancy. At the end of the tenancy, it is dealt with in accordance with the terms of the tenancy agreement.

All fees quoted are inclusive of VAT at the prevailing rate where applicable.

Methods of Payment

We will take payment of your holding deposit, first month’s rent and dilapidation deposit via our third party referencing provider (unless advised otherwise). Payment of rent is accepted via standing order or bank transfer, however we recommend a standing order is set up 3 days before rent is due to ensure rent is received by the landlord on time.

Andrews Letting & Management is an ARLA Licensed Member. Client Money Protection (CMP) is provided by ARLA Propertymark. Independent Redress is provided by The Property Ombudsman