Lincoln Tenants Fees


APPLICATION REFERENCING FEE

To apply for one of our properties we need to complete a full reference check. This can be done by simply, providing photo identification, proof of Address, completing our application form and paying your referencing fee which is £72.00 (Inclusive of Vat) per person.

The Application Fee/s are non-refundable, should your references be un acceptable or for any reason you wish to withdraw. The referencing fees are retained by us to cover abortive administration costs.

In the instance that we have a large amount of interest in a property, we collect in all of the applications and discuss these with the Landlord. Once the Landlord has made a decision we will then approach you for the referencing fee. We will inform you of this when you submit your application.

ADMINISTRATION FEE

Prior to the day of singing contracts you will be required to pay an Administration Fee, this fee must be paid with cleared funds and is non-refundable. The Administration Fee covers the cost of the preparation of the Tenancy Agreement, Inventory, transferring of the utilities, the Check In and Check Out process. The administration fee is £210.00 (Inclusive of Vat).

SECURITY DEPOSIT

You are required to pay a security deposit (usually the value of 1½ month's rent), which must be paid with cleared funds on the day of singing the contracts. This security deposit is against the property and therefore will not be divided if one tenant leaves during the tenancy. Deposits will be registered with a recognised Government scheme. Some properties may have requested a higher deposit.

FIRST MONTHS RENTAL

Your rental payments will be paid to us a month in advance and we will require your first month's rent on or before the day your tenancy commences. This can be paid in cash, bankers draft or by card on the day. There are extra fees if you pay by card. Alternatively you can pay by bank transfer or by cheque if it is received at least 7 days prior to your tenancy commencement.

On the day of Check In you will sign a Standing Order, which will be sent to your bank enabling rental payments to automatically come out of your bank every month.

INSURANCE POLICY

It is a requirement of your Tenancy Agreement to obtain and maintain a policy of insurance to provide a minimum of £2,500 of cover for accidental damage to the Landlords contents, furniture, fixtures and fittings at the property as described in the Inventory which will be provided at Check In. If you do not take the insurance recommended, we will still require evidence that you have insurance elsewhere. If you do not provide proof of this prior to your Check In this may delay moving into the property.

Please ask for further information from our office, if you would like help with this.

CONTRACT LENGTH / RENEWALS

A fee will be chargeable upon request to extend the Tenancy by another fixed term. This fee will include the negotiation with the Landlord and preparation of a new tenancy agreement.  The charge for the singing of a new Tenancy is £36 (Inclusive of Vat) for 6 month Agreements or £54 (Inclusive of VAT) for 12 month Agreements or over.

PET DEPOSIT -

If the landlord agrees to a pet then he reserves the right to request a larger deposit. This will be paid on top of the (Month + 1/2) at the start of the Tenancy.  You will be required to get all of the carpets professionally cleaned at the end of the tenancy. (It is not sufficient to hire your own carpet cleaning machine) The carpets will also require a ‘pet treatment’ at the property so future occupants may be satisfied.

Some people have allergies or need assurance that the property is flea free.

A Pet License will be provided for all tenancies where the landlord has agreed to a pet.

FURTHER FEES MAY APPLY

Dependant on your circumstances these may include the following:-

GUARANTOR

You may be required to provide a Guarantor for the rent. This is not un common 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. The fee is the same as the Application fee and is £72.00 (Inclusive of Vat).

ADDITIONAL APPLICANT/ PERMITTED OCCUPIER -

Any Additional Applicants/Permitted Occupiers that want adding onto the Tenancy Agreement will need to provide photo identification, proof of Address, complete an application form and pay a referencing fee which is £72.00 (Inclusive of Vat) per person.

 

REFUND OF OVERPAYMENT – £18.00

 

NON CANCELLATION OF STANDING ORDER - £15.00

 

UNPAID RENT – Interest at 3% ABOVE Bank of England Base Rate

 

AMENDMENT FEE – If you have a change of circumstances and the Tenancy Agreement needs to be amended in any way or with the Landlords consent a request to leave your Tenancy Earlier than your contracted date. A charge of £25.00 will be payable.

 

GENERAL TERMS

Restrictions normally apply to Tenants who are smokers, receive housing benefit or DSS, have children or pets. Please discuss your requirements with the office before making any application. Applications will not be accepted until you have viewed the property internally.

Newton Fallowell Lettings do not pay interest on security deposits held which are returned at the end of the Tenancy, subject to a final inspection and rent being up to date.

A full Schedule of Condition/Inventory of the property and its contents is taken prior to the Tenancy.

We will meet you at the property where you will be asked to check this and sign to confirm the accuracy. At the end of the Tenancy the same document will be referred to.  You must notify our offices within 2 days if you notice any further discrepancies following the Check In. 

The Tenants must seek the Landlord's approval in writing through Newton Fallowell Lettings for any alterations, repairs or installations. Examples include nailing pictures to the walls, repainting, repairs or works to decorations.

If paying by Debit Card there will be an additional charge of £1.16. If paying by Credit Card there will be an additional charge of 1.83% of the total value of the transaction. Business credit cards 2.35% of the transaction.

If you require any further information please don't hesitate to contact us:

Lincoln Address: 24 Silver Street, Lincoln, Lincolnshire, LN2 1EW  tel: 01522 516590 email: lincoln@newtonfallowell.co.uk

Registered Company Name: Newton Fallowell (Lincoln) Ltd Registered in England No 6013341 Registered Office 68 High Street, Grantham, Lincolnshire NG31 6NR