What fees will I expect to pay if I rent a property with Redlands?
When you have decided to apply for a property after your viewing, we will provide you with a Tenancy application form and a copy of our tenancy fee terms. These explain the next stages of your application and the fees due before you sign your Tenancy Agreement. It also explains any fees which may become payable during the tenancy. Your security deposit is usually protected with the Deposit Protection Scheme. This is subject to your landlord's terms and conditions (i.e. whether the property is managed or let only)
If you have any questions about our fees please just ask the branch staff. Below is a list of our current fee scales.
The fees described below are effective until August 31st 2018 on any new application.
All fees are non-refundable; however, if the application passes the vetting and the landlord declines to proceed, a full refund will be made.
What is the administration fee?
The administration 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 assess the affordability of your tenancy application. The fee also includes providing a Tenancy Agreement( which will initially be for 6 months in most instances ) and protecting your security deposit in the Deposit Protection Scheme.
At what point do I pay the administration fee?
After a viewing the property and when you have decided to apply for it, we will provide you with a Tenancy Fee Declaration form which lists the services we provide and the fees that are payable and a Tenant Application Form to fill in. You will then be asked for your administration fee and Identification.
Any additional fees that may be applicable to you, for example a guarantor fee, will also be collected on the day that you submit your application form. Your rental payment and security deposit payment will become due on the day you sign your tenancy agreement and move in to your new home.
What other fees may be payable before I can move into the property?
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. The vetting will also include confirming their current employment status, provision of character references aswell as providing bank statements and wage slips if relevant . It is essential that the guarantor is also a homeowner and they will be asked to provide evidence of this ( mortgage statement, deeds etc ) .
This 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 the cost of 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, and avoids the uncertainty of a landlord serving notice at any given time.
Please note that a higher security deposit may be required where it is agreed that pets can be included in the tenancy. The inclusion of any pets is subject to the landlord's consent.
Hints And Tips For Tenants When Leaving A Property
When you have come to the end of your time at the property it's worth putting in a bit of work to get the property up to scratch to maximise the chances of getting your full security deposit back. As long as the condition of the property is the same as when you moved in (except normal wear and tear), you'll have no problem.
Here are some simple and basic tips:
- Give the property a thorough clean, including carpets, windows, walls and furniture.
- If it's your responsibility, tidy up the garden and clear away any rubbish
- Return all of the keys to the landlord
- Remove all of your personal belongings
- Be satisfied you're leaving the property as you found it.
Final inventory check
You'll have the opportunity to run through the inventory checklist on the day of departure. It's important that this job is done before you leave the property to avoid you being accountable for any damage that occurs after you've left. If there is any damage, you should agree with the landlord the cost of repairing or replacing such items.
If an agreement cannot be reached on which items have been damaged, or repair costs, then you should make sure you take some photographs. Get your own repair cost estimates and write to the landlord or submit to the agent, with your findings and work towards a mutually agreeable solution.
If both you and the landlord are satisfied the property has been left in an acceptable state and you have made your final rental payment, there should be no problem getting your deposit back.