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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.

Set-up Fees

These are the fees that are required to set up your tenancy.  You will only be required to pay one of these fees below depending on which situation applies to you.

  • Standard Tenancy Fee: 30% of one month’s rent (inc VAT) with a minimum charge of £295 inc VAT

This is our standard tenancy fee for standard family homes and young professional properties.  The fee includes referencing of all tenants (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.

  • Room Only Tenancy Fee: £150 (inc VAT)

This is our fee when you are renting a single room in a property.  This includes your referencing (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.

  • Student Tenancy Fee: £95 (inc VAT)

This is for our student list of properties with this fee paid on an individual basis of each student moving into the property.  Referencing of all tenants (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) referencing of guarantors (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 including signing by both tenants and guarantors.  Note that the property will be signed as one tenancy on a joint and several contract.

The above fees take the property off the market for 3 working days whilst you can gather your references and the reservation fee (see below).  Note that the above fees are not refundable if the referencing is failed, therefore if you have any doubts about your eligibility for the property you should discuss this with your agent before you pay the fees.

Additional Upfront Costs

These are additional costs that are payable before you move into the property.  You should make sure you can afford these costs before committing to paying the above fees.

  • Reservation Fee – Determined on each property

The reservation fee is payable after 3 days of paying the set-up fee (unless you are moving in within 3 days of paying the initial fee).  This fee takes the property off the market completely (pending successful reference application) and no further viewings on the property will be carried out with other parties.  If the tenancy does not begin then Seraph Property Management reserves the right to deduct costs or lost revenue from this reservation fee to compensate the landlord.  If the tenancy successfully begins this will be converted to your security deposit and protected in one of the approved schemes.

  • First Month’s Rent – Determined on each property

This is the first rental payment which must be paid in cleared funds before you move in (a cheque on the day is not permissible).  You will then be given payment details and dates on which to pay each monthly rent.

  • Pet Deposit Returnable additional Security Deposit of £100

This is an optional fee if you have a pet to cover the added risk of property damage.  This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy.  Note that a pet can only be allowed in one of our properties with specific written permission from Seraph Property Management.

  • Express Move-In £60 (inc VAT)

Sometimes it is necessary to be able to turn around an application in a much shorter time to move you in.  As this requires accelerating the procedure and often prioritising your application over others this incurs an extra charge.

During Your Tenancy

There are potential charges for changes to your tenancy, extra services or breaches of your tenancy, please make sure you understand these potential costs.  Most tenancies will not incur extra charges as you will see below but it is worth understanding your contract.  Note that this is not an exhaustive list as it is impossible to cater for all eventualities.

  • Pet Rental Charge

This is an extra charge that is added to the rent for the extra wear and tear that is caused to the property by having a pet.  This is entirely dependent on the pet and number of and should be negotiated at the time with your agent.  Note that a pet can only be allowed in one of our properties with specific written permission from Seraph Property Management.

  • Amendment Fee £75 (inc VAT)

Contract negotiation, amending terms and updating your tenancy agreement during your tenancy

  • Tenancy Renewal Fee: £25 per tenant with a minimum of £50 (inc VAT)

Contract negotiation, amending and updating terms and arranging a further tenancy and agreement.  Note that if new names are required on the tenancy at this stage they will be required to be referenced at a separate charge.

  • Lock Outs during hours £25 (inc VAT) plus mileage from office where key is held to property at 45p per mile.

To attend to let tenant into property if they have left their key inside.

  • Lock Outs out of hours £50 (inc VAT) plus mileage from office where key is held to property at 45p per mile.

To attend out of business hours to let tenant into property if they have left their key inside.

  • Lost Security Items (Keys fobs etc): £45 (inc VAT) plus cost of security item

Obtaining necessary permissions, sourcing providers and travel costs, note that this may require replacement of locks or re-coding pads to ensure security is maintained.

  • Out of Hours Services £50 per hour (inc VAT) plus any actual costs incurred

Where actions of the tenant results in the agent resolving an issue out of hours which may or may not require the agent to attend the property.  Additional costs of the agent or nominated contractor to attend the property, time to remedy the situation is charged at the above hourly rate by the agent or the relevant contractors rate that is required to attend.

  • Unpaid Rent / Returned Payments

Interest at 8% above Bank of England Base Rate from date due

  • Chasing Late Payments £25 (inc VAT)

Sending initial reminder letter per missed rental payment and chasing rental payments by text and email.

  • Serious Arrears and Eviction
    • £50 (inc VAT) for serving Section 8 notice if 2 months in arrears.
    • Court notice fee at current rates.
    • Managing agent attendance at court £25 (inc VAT) per hour for employee £75 per hour for principal.
    • Warrant notice cost for bailiff attendance at current rate.
  • Professional Cleaning (if required) £20 (inc VAT) per hour which will be deducted from the Deposit

Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy.

  • Repairs and Damage (if required)

Work that is required to maintain the property that is the tenant’s responsibility, is damage caused by the tenant or repairs that are beyond reasonable wear and tear.  This is charged at the relevant rate for the repair by the contractor and materials required.

  • Unnecessary use of the emergency line £25 (inc VAT)

The emergency line is for genuine emergencies that cannot wait until the morning and is an expensive resource to have available for our tenants and landlords.   Therefore unnecessary usage is liable to a charge.

  • Non-release of deposit £100 (inc VAT)

There are rare cases when an individual decides to be non-responsive at the end of a tenancy around the release of the deposit.  If this is the case then it requires significant extra work to release this deposit.  Note that this is the case of non-responsiveness or long periods of non-responsiveness.  This charge does not apply to dealing with disputes that may arise and are dealt with in a prompt fashion, which the tenant is perfectly entitled to do.

  • Replacement Tenancy Agreement 60% of one months rent (inc VAT).

Sometimes it is necessary for you to end your tenancy early for circumstances out of your control.  Instead of forcing you to stay in the contract for the rest of the period, Seraph Property Management will assist you to find a replacement tenant.  This involves all the extra work that is normally incurred for a landlord and this fee covers this work (marketing the property, inventories, compliance checks etc).  Note that you will still be liable for your rent until a new tenant takes over your responsibility and the new tenant must go through our processes and pass our referencing to be allowed to sign.  It is important that you open a dialogue with us at this stage and we will do our utmost to help you in your situation.  In some situations, depending on the landlord, it may be agreed for you to pay a certain number of extra months to discharge your duty.  Please speak with one of our team about this option.