TENANT FEES
As a tenant, if you make an offer which is accepted by the Landlord then there will be some additional tenants fees to pay in order to secure your offer. The applicable tenants fees are as follows:
TENANT FEES SCHEDULE. HMO Management Agency believe in complete transparency in relation to our tenancy fees and detailed below are the fees you will incur in addition to the monthly rent for New Assured Shorthold Tenancies (AST’s) signed on or after 1st June 2019:
We will require
- Passport or photo driving license to identify you allowing us to comply with Anti Money Laundering Legislation
- A utility bill dated within the last three months to confirm your current residing address.
- Referencing form to be filled in to carry out a credit check
- Landlord/Agent reference
- The last 3 months of bank statements
- Accountants letter for self-employed
Additional fees which may become payable to some applicants
- In order to pass the credit score, you will need to be able to demonstrate an annual household income of at least two and a half times the annual rent.
HOUSING ACT TENANCIES (AST)
You can see all of the money and fees you’ll need to pay for Housing Act Tenancies (AST) listed below.
All our fees and charges are shown.
| Description | Charge |
| General fees and charges | |
| Holding deposit | Equivalent of one week’s rent, which will be put towards your first rent due on completion of the tenancy. The rules for how and when we withhold any funds from your holding deposit are set out in our Holding Deposit advance payments explained. |
| Variation of Contract – (Tenant’s Request) Including a request for a change of sharer | To cover the costs of taking landlord’s instructions and preparation of new contract capped at £50.00 or reasonable costs if higher. |
| Traditional deposit: annual rent less than £50,000 | Equivalent to five weeks’ rent |
| Traditional deposit: annual rent £50,000 or more | Equivalent to six weeks’ rent |
| Early termination (at landlord’s discretion) | All costs, fees and charges incurred by the landlord for allowing early termination including the agent’s existing or re-letting fees. |
| Stamp Duty Land Tax | Payable on tenancies where the rent (for the whole time a tenant stays in the property) exceeds £125,000. |
| Default fees and charges | |
| Late, unpaid returned rent payments | 3% above the base rate of Bank of England per annum, calculated daily. |
| Lost keys | Tenant will be liable for actual cost for the replacement of keys, fobs, security devices or associated items which have been lost, damaged or broken. |
These charges are in line with Government regulations. If you have any queries your local lettings team will be able to help you.
NON-HOUSING ACT TENANCIES (NHA)
You can see all of the money and fees you’ll need to pay for Non-Housing Act Tenancies (NHA) listed below.
All our fees and charges are shown including VAT.
| Description | Charge |
| Pre Tenancy Application Charge (PTAC) | The equivalent of one week’s rent or £600, which will be put towards your first rent due on completion of the tenancy. If you withdraw from the tenancy: Private tenancies – minimum of £300 per person. Company tenancies – a minimum of £600. |
| Tenancy paperwork | £300 per tenancy for contract negotiation and arranging the tenancy |
| Company reference checks | £120 per reference |
| Variation of Contract – (Tenant’s Request) Including a request for a change of sharer |
To cover the costs of taking landlord’s instructions and preparation of new contract capped at £50.00 or reasonable costs if higher. |
| Withdrawing from the tenancy | Private tenancies – minimum of £300 per person. Company tenancies – minimum of £600. |
| Call out services (inc out of hours) | £60 per hour and/or you’ll have to pay the contractors invoice where your actions or lack of actions result in us or a contractor attending the property to remedy the situation. |
| Last minute cancellation or no cancellation of pre-arrange visits. | £60 per visit and any contractor invoice. If you cancel an appointment less than 24 hours before, or we have arranged to visit your property and we can’t gain access. |
| Hourly rate | £60 plus any replacement costs if we or the landlord have to replace any damaged or broken items, or return any fixtures or fittings to their original position, as per the inventory. |
| Tenancy Termination | Following the request of an early termination to the tenancy the tenant shall be liable to the landlord’s/agent’s reasonable costs in re-letting the property (including the rent due) until the start date of the replacement tenancy. |
| Renewal negotiation | £180 for each renewal. If additional referencing is required we’ll also charge you £45 per reference. |
| Any tenancy agreement specially negotiated clauses agreed after the tenancy agreement has been signed. | £180 each time a change is requested and agreed by the landlord |
| Early termination (at landlord’s discretion) | All costs, fees and charges incurred by the landlord for allowing early termination including the agent’s existing or re-letting fees. |