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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)  

 

Relevant letting fees and tenant protection information – Wales

(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.

Before the tenancy starts (payable to James Douglas)

  • Holding Deposit: One week’s rent which is calculated at monthly rent /4.35. This is to reserve a rental property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing)
  • 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

 

During the tenancy (payable to the landlord/managing agent if permitted and applicable)

  • Utilities: gas, electricity, water
  • Communications: telephone and broadband
  • Installation of cable/satellite
  • Subscription to cable/satellite supplier
  • Television licence
  • Council Tax

 

Other permitted payments

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.

 

Lost key(s) or other Security Device(s)

Tenants are liable to the actual cost of replacing any lost key(s) or other security devices plus the landlord or agent’s costs in obtaining any necessary permissions, sourcing providers and travel costs. Please note that you will only be charged the actual cost of the landlord or agents time which will be evidenced and proposed to you and is to cover the time for sourcing locks or keys and delivery of those keys. If the loss results in locks needing to be changed, you will be liable for the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys.

 

Emergency/out of hours call-out fees

If fees are incurred as a result of a landlord arranging for someone to attend the tenant’s property at the request of a tenant, such as a locksmith or an emergency glazier in the early hours of the morning, when the problem had been caused by the tenant in the first place, such as a window broken on purpose, or keys locked inside a house. The landlord or agent’s actual time to remedy the situation, plus any costs incurred from contractors will be evidenced and proposed as a charge to you. 

 

Avoidable or purposeful damage to the property

Tenants are liable to the actual cost of remedying any damage incurred (as detailed in a contractor’s invoice) plus the landlord or agent’s costs in obtaining any necessary permissions, sourcing providers and travel costs 

 

Missed appointments

Where the actions of the tenant results in a missed appointment, the tenant is liable for the actual costs incurred by the landlord, such as a contractor invoice which will be evidenced and proposed as a charge to you.

 

Relevant letting fees and tenant protection information – England

(for tenancies signed on after 1st June 2019)

If you wish to rent a property as a company tenant, there is a £300 application fee. 

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:

  • Holding deposits (a maximum of 1 week’s rent);
  • Deposits (a maximum deposit of 5 weeks’ rent for annual rent below £50,000, or 6 weeks’ rent for annual rental of £50,000 and above);
  • Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if higher, any reasonable costs);
  • Payments associated with early termination of a tenancy (capped at the landlord’s loss or the agent’s reasonably incurred costs);
  • Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services (telephone, internet, cable/satellite television), TV licence;
  • Council tax (payable to the billing authority);
  • Interest payments for the late payment of rent after rent has been due for 14 days (up to 3% above Bank of England’s annual percentage rate);
  • Reasonable costs for replacement of lost keys or other security devices;
  • Contractual damages in the event of the tenant’s default of a tenancy agreement; and
  • Any other permitted payments under the Tenant Fees Act 2019 and regulations applicable at the relevant time

Early Termination of a fixed term contract will be considered by the Landlord and negotiations on any cost will be determined on the individual circumstances. There is no guarantee that a landlord will agree to an early termination and where no such agreement is made, the tenant or contract holder will remain liable for the total sums as required in the Occupation Contract or Tenancy Agreement. The Landlord is fully within their rights to expect to be paid for the entirety of the tenancy/contract.

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.