When you apply for a property through us there will be fees payable upon application. Please see the below fee scales which will help you to understand these fees and when you will need to pay them. We do not charge VAT.
Please note that we are members of both The Property Ombudsman (Independent Redress Scheme) and ARLA and are covered by NALS Client Money Protection (CMP)
Holding Fee We will require a Holding Fee of £150 when you make an application for a property. This will be non-refundable but will be deducted from the tenancy setup fee paid prior to occupation if your application is successful.*
Tenancy Setup Fee - The tenancy setup fee includes referencing, this will include a credit check, employer reference and current or previous Landlords reference if applicable. The fee will also include preparing a tenancy agreement, the inventory, the check-in and the transfer of all the utilities. *The balance of fees becomes payable prior to occupation of the property.
Tenancy Setup Fee rent up to £450 - £150 for up to 2 applicants
Tenancy Setup Fee rent £451 to £749 - £225 for up to 2 applicants
Tenancy Setup Fee rent over £750 - £250 for up to 2 applicants
There may be further fees that will apply dependent on your circumstances these include:
Additional Applicant - £25 Any additional applicants above the amount included in the tenancy setup fee. This will be for referencing and processing the application.
Guarantor - £25 You may be required after your referencing has taken place to provide a guarantor for the rent. This is not uncommon and they would also need to be referenced to ensure they have enough earnings to fulfil the rent in the event that you are not able to. This fee is per Guarantor required and covers the cost of referencing and providing a deed of guarantee to be included in the tenancy agreement.
Amendment Fee - £35 If a change is required during the term of the tenancy agreement they may be a charge, these could include alterations to the tenancy agreement due to a change in personal circumstances or with the Landlord's consent a request to leave the tenancy early.
Renewal Fee - £25 A fee will be chargeable upon request to extend the tenancy by another fixed term, the fee will include negotiating with the Landlord and preparing a new tenancy agreement to reflect the new term.
Check-out Fee - We do not charge a fee for check-out at the end of the tenancy as it is included in the tenancy setup fee.
If paying by Debit Card there will be an additional charge of £1.16. If paying by Credit Card there will be an additonal charge of 1.83% of the total value of the transaction. Business credit cards 2.35% of the transaction.
Security Deposit - You will also be required to pay a security deposit prior to occupation this will be one Month's Rent Plus £100, If Pets Usually 6 Weeks Rent. In most circumstances this will be lodged with the Tenancy Deposit Scheme (TDS). This is dependent upon the Landlord's Terms and Conditions. The deposit amount depends on the rent and the circumstances of the applicants, for example if there are pets.
If you require any further information please don't hesitate to contact us:
Boston Address: 26 Wide Bargate, Boston, Lincolnshire, PE21 6RX tel: 01205 353100 email: firstname.lastname@example.org
Registered Company Name: L&M Lettings LLP Regsitered No: OC357119 Registered Address: 26 Wide Bargate, Boston, Lincolnshire, PE21 6RX