Tenant Fees

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We believe in being totally transparent regarding our fees – so you can manage your time and the cost effectively and don’t have to worry about any “hidden” charges along the way.

[/vc_column_text][vc_tabs][vc_tab title=”Before you move in” tab_id=”f6de0e0f-02db-6″][vc_row_inner][vc_column_inner el_class=”” width=”1/2″][vc_column_text]Reservation cost: £300 inclusive of VAT per property- which is then deducted from the balance of money payable (e.g. Rent) 48 hours prior to the tenancy commencing.

Set up fee: 12 days rent plus vat (tenants share)- your set up fee can be calculated by the following equation. The fee is the equivalent of 12 days rent of the property’s per calendar month rental value. This includes:

Referencing for up to two tenants, Identity checks, Immigration and Visa status confirmation, Financial credit checks, Obtaining references from current or previous Employer(s), Obtaining references from Landlord(s) or Mortgage Lender and also any other relevant information to assess affordability, Contract negotiation (amending and agreeing terms), Preparation of the Tenancy agreement, Registration of the deposit with the Government-approved scheme – “My Deposits”.

The administration fee can be worked out using the below method:

Rent (pcm) x 12months ÷ 365days x 12days

An Example based on a property rental of £750 per calendar month (pcm) is as follows:
£750 x 12(months) ÷ 365(days) = £24.65 (per day)
£24.65 x 12(days) = £295.80
Sub Total Non-optional Fees = £295.80
VAT@ 20% = £59.16
Grand Total = £354.96 inclusive of VAT.

Additional Tenant fee: (for more than two tenants)- processing the application, associated paperwork and referencing is £45.00 inclusive of VAT.

Guarantor fee: per guarantor (if required)- covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement is £45.00 inclusive of VAT.

Deposit: Security deposit usually the equivalent of 6 to 8 weeks rent- to cover the added of property damage that is beyond fair wear and tear. Where applicable this deposit will be protected in the government-approved scheme – My Deposits – and is normally returned at the end of the tenancy. All deposits are held in our client account.

A New Tenancy if you have a Pet– Two Months’ rent as a deposit instead of the standard deposit as above.

Changing of the start date of the Tenancy Agreement after paperwork has been sent out – £30.00 inclusive of VAT.

Room Administration fee: £300 plus VAT for sole occupancy.

Withdrawing from Tenancy– When your offer is accepted, subject to contract you will be asked to pay a reservation fee equivalent to £300. You will receive a receipt for these funds which details the terms and conditions. In the event that a tenancy does not proceed due to unacceptable references or if the tenant withdraws from the tenancy any reasonable charges as detailed above and within the receipt will be deducted from this payment.

Express Check in fee– If you want to move in within 5 working days there is a fee of £132 inclusive of VAT.

Saturday check in’s– There will be an additional fee of £75.00 inclusive of VAT if you wish to be checked in on a Saturday.[/vc_column_text][/vc_column_inner][vc_column_inner el_class=”” width=”1/2″][vc_single_image image=”2676″ border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” img_size=”large”][vc_empty_space height=”32px”][vc_single_image image=”23″ border_color=”grey” img_link_large=”” img_link_target=”_self” img_size=”large” css_animation=”right-to-left”][vc_empty_space height=”32px”][vc_single_image image=”25″ border_color=”grey” img_link_large=”” img_link_target=”_self” img_size=”large” css_animation=”right-to-left”][vc_empty_space height=”32px”][vc_single_image image=”2678″ border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” img_size=”large”][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title=”During your Tenancy” tab_id=”7025bebb-221e-1″][vc_row_inner][vc_column_inner el_class=”” width=”1/2″][vc_single_image image=”1777″ border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”left-to-right” img_size=”large”][vc_empty_space height=”32px”][vc_single_image image=”22″ border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”left-to-right” img_size=”large”][/vc_column_inner][vc_column_inner el_class=”” width=”1/2″][vc_column_text]Amendment fee: Contract negotiation, adding another tenant, amending terms and updating your tenancy agreement during your tenancy is £120 inclusive of VAT.

Change of Sharer– Referencing one tenant (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy and agreement is £120 inclusive of VAT.

Early Termination– If you request to leave your tenancy agreement only, this is at the Landlords discretion only. Remarking costs for the Landlord will need to be paid and will be a minimum of £300 inclusive of VAT.

Call out Services (including out of hours)– To a maximum of £120 per hour inclusive of VAT plus any actual costs incurred where actions of the tenant results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the prevailing rate.

Last minute cancellation of prearranged visits– £120 inclusive of VAT per visit in the event that the tenant cancels a prearranged property visit.

Late rent payment charge– £30 inclusive of VAT per letter sent.

Lost keys– £36 inclusive of VAT to cover time. administration of arranging replacement keys/fobs.

[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_tab][vc_tab title=”Ending your Tenancy” tab_id=”1442828372318-2-9″][vc_row_inner][vc_column_inner el_class=”” width=”1/2″][vc_column_text]Check out fee (tenant’s share): The tenant is also responsible for the check-out fee when renting through Redbrick. This costs £99 inclusive of VAT irrespective whether the property is furnished or unfurnished. An Independent Inventory Clerk will attend the property to undertake an updated Schedule of Condition based on the original inventory. The repayment of security deposit(s) is in accordance with the findings of this report. *There may be occasions when this is not applicable but you will be made aware of this upfront.*

Returning overpaid rent– Tenants are responsible for cancelling their own direct debits and if there is any overpaid rent this will incur a fee of £36.00 inclusive of VAT to return any overpaid rent.

Last minute cancellation or change of Inventory appointment– £60 inclusive of VAT per visit in the event that the tenant cancels a prearranged property visit. This fee is applicable if less than 48 hours notice is given.

Tenancy Renewal Fee– At the end of the agreed contract term, your tenancy agreement will need to be renewed. This renewal fee is charged at £120 inclusive of VAT.

Hourly rate– For Landlords or Landlords’ agent replacing any damaged or broken items and reinstating any fixtures and fittings to its original position as reflected in the inventory check in – £60 inclusive of VAT.[/vc_column_text][/vc_column_inner][vc_column_inner el_class=”” width=”1/2″][vc_single_image image=”2670″ border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” img_size=”large”][vc_empty_space height=”32px”][vc_single_image image=”2675″ border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” img_size=”large”][/vc_column_inner][/vc_row_inner][/vc_tab][/vc_tabs][/vc_column][/vc_row]