It is important before viewing a property that you understand both the fees that may be involved with that tenancy and the referencing process that will need to be completed and approved for you to be able to move into your chosen new home and at Seraph Property Management we believe in being transparent. Each property listing will have the security deposit and the monthly rental that is required to be paid. Below is a list of fees that you may be required to pay for the tenancy to be granted and costs you may incur during a tenancy. We would strongly recommend that you take time to read this list and make sure you can afford the costs involved for your new home.
Please note that for company lets in England and Wales, we can charge the tenant and our admin charge is £250+VAT (£300)
(for tenancies signed on after 1st September 2019)
As well as paying the rent, you may also be required to make the following permitted payments.
– Security Deposit: Usually a deposit equivalent to 5 weeks rent will be charged, except where the annual rent exceeds £50,000 (deposit equivalent to 6 weeks rent) or a pet is agreed at the property (additional deposit of £100 per pet)
– Rent Arrears. Chargeable from 7 days arrears, calculated on the interest at 3% above Bank of England base rate
– Payment for a breach of the tenancy agreement up to the prescribed limit
– Utilities: gas, electricity, water
– Communications: telephone and broadband
– Installation of cable/satellite
– Subscription to cable/satellite supplier
– Television license
– Council Tax
– Any other permitted payments, not included above, under the relevant legislation including contractual damages and for the loss of a key or other security device.
Tenants are liable to the actual cost of replacing any lost key(s) or other security devices plus the agent’s costs in obtaining any necessary permissions, sourcing providers and travel costs which will be charged at £60.00 (inc. VAT) per hour. If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant.
Should the tenant wish to leave their contract early, they shall be liable to the landlord’s costs in re-letting the property as well as rent due under the tenancy until the start date of the replacement tenancy. These costs will be more than the maximum amount of rent outstanding on the tenancy.
Where the actions of the tenant result in the agent (or their nominated contractor) attending the property outside of normal office hours, the agent’s time to remedy the situation is charged at £60.00 (inc. VAT) per hour plus any actual costs incurred (such as contractor invoices)
Tenants are liable to the actual cost of remedying any damage incurred (as detailed in a contractor’s invoice) plus the agent’s costs in obtaining any necessary permissions, sourcing providers and travel costs which will be charged at £60.00 (inc. VAT) per hour.
Where the actions of the tenant results in a missed appointment, the tenant is liable for the agent’s time in remedying the situation which is charged at £80.00 (inc. VAT) per hour plus any actual costs incurred (such as contractor charges).
(for tenancies signed on after 1st June 2019)
For properties in England, the Tenant Fees Act 2019 means that in addition to rent, letting agents can only charge tenants (or anyone acting on the tenant’s behalf) the following permitted payments:
Tenant protection: James Douglas Sales & Lettings and Student Living by James Douglas are members of Propertymark and Lonsdale Insurance Brokers Ltd (client money protection schemes), and members of The Property Ombudsman redress scheme. You can find more details on our website.
If you wish to rent a property as a company tenant, there is a £300 application fee.