Fee Information

We have produced this guide to inform tenants of the procedures and requirements relating to a typical tenancy. We aim to be as transparent as possible when disclosing our services, procedures and charges however please do speak to a Property Manager for an accurate assessment of your rental requirements. All fees listed are inclusive of VAT. 

Application and Referencing process - Assured Shorthold Tenancies

When you have found a suitable property to rent, all intended tenants will be asked to complete an application form. We may then take up references which may include a bank reference (for which your bank may charge a separate fee), credit reference, employers reference and previous landlord reference. At this point you will also be asked to pay a holding fee to indicate your commitment. The holding fee payment will then form part of your tenancy deposit upon commencement of the tenancy.  Please note that this payment does not constitute a tenancy or offer of a tenancy. This holding fee may be retained by us if the tenancy does not go ahead or terms are not agreed by the ‘deadline for agreement’ (see below) due to you providing false or misleading information, if you fail a right to rent check, if you withdraw from the property once a let has been agreed or if you fail to take all reasonable steps to enter into a tenancy agreement within an agreed timeframe. You will also be asked to provide a copy of your driving licence and/or passport (a valid visa will be required if you are applying from a Non EU country)

Deadline for Agreement

The ‘deadline for agreement’ (ie: the latest date on which referencing should be completed and agreement for all terms of the tenancy can be reached) is usually 15 days after a holding payment has been received unless otherwise agreed.

Overseas Student Applicants

Please be aware that if you have no credit history within the UK we will be unable to complete a credit check. In this instance it is our standard procedure to request the full rent to be paid in advance. You may also wish to use a UK based rent guarantee service such as Housing Hand. Please speak to one of the Student team if you require any clarification on this. 

Tenancy Agreement

Before commencing the Tenancy, you will sign a Tenancy Agreement which sets out the obligations of both the Landlord and Tenant. The cost of preparing this Tenancy Agreement is covered by OpenArch. Once this Agreement has been executed, it is legally binding. Rooms are let on an individual basis but each tenant will be jointly and severally liable for the common areas.

Deposit

Before your Tenancy commences you are required to pay a security deposit, this deposit varies dependant on the property however it will be a MAXIMUM of 5 weeks rent and your holding fee will form part of this payment once referencing has been completed. This deposit is held by us as stakeholders and is held for the duration of the Tenancy against any damages and/or expenses arising during your tenancy for which you are liable. This deposit (for AST’s) is protected using a Government-authorised Deposit scheme. Within 30 days of paying your deposit you will receive details outlining how your deposit is protected, including details of the relevant scheme and what to do if there is a dispute at the end of the tenancy. 

Student Rent Payments

Student rent is paid termly. This means that rent due over the 11 month tenancy is paid in four instalments.  If you experience any financial difficulties during your tenancy please contact us immediately. Further information can be provided upon enquiry.  

General Information

Once we have agreed a date for the commencement of the Tenancy, we will provide you with details of the initial payment required and this must be received in cleared funds prior to the commencement date.

You will receive an inventory and schedule of condition of the property, the furniture, fixtures and fittings. This inventory will form the basis of any claims for damages at the end of the Tenancy so it is important that you agree it at this stage by signing and returning a copy to us. If you fail to return an amended copy it will be assumed that you are in agreement with the document provided.   

It is the tenant’s responsibility to pay council tax where due.

Fees and other charges

 

STUDENT

Application Fee (1st applicant)

£120

Guarantor Application Fee (if required)

N/A

Interest on late rent (14 days or more overdue)

3% OVER The Bank of England base rate

Default Fee for loss of a key/security device (per item)

£25

Amendment Fee (to amend/add/remove a clause at the request of the tenant, and with agreement of the Landlord, DURING the tenancy term)

£50

   

Please note that rent and deposit charges are separate to the fees outlined above and vary dependent upon each property. The fees shown above are the MAXIMUM fees that will be applied depending on your circumstances and the number of tenants.  If you have any queries please call the office and speak to one of the Residential Team. A draft copy of a Tenancy Agreement is available upon request should this be required. 


Any questions? Drop us a message and one of our team will be happy to help...